88,460 Shares in Surmodics, Inc. (NASDAQ:SRDX) Purchased by Phocas Financial Corp.

Phocas Financial Corp. bought a new position in Surmodics, Inc. (NASDAQ:SRDX) in the 3rd quarter, HoldingsChannel reports. The fund bought 88,460 shares of the company’s stock, valued at approximately $3,430,000.

Several other large investors also recently made changes to their positions in the company. Quest Partners LLC lifted its stake in shares of Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after acquiring an additional 1,071 shares during the period. SG Americas Securities LLC grew its holdings in Surmodics by 14.7% during the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after acquiring an additional 660 shares during the period. Lazard Asset Management LLC lifted its stake in Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after purchasing an additional 673 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Surmodics by 7.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after acquiring an additional 481 shares during the last quarter. Finally, Hardin Capital Partners LLC acquired a new stake in shares of Surmodics during the second quarter worth $206,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Analyst Upgrades and Downgrades

SRDX has been the topic of a number of recent analyst reports. StockNews.com began coverage on shares of Surmodics in a report on Friday. They set a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.00.

Surmodics Price Performance

Shares of SRDX opened at $39.25 on Tuesday. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average price is $38.50 and its 200 day moving average price is $39.28. Surmodics, Inc. has a 52 week low of $25.17 and a 52 week high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.77% and a negative net margin of 9.15%. The company had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. As a group, sell-side analysts forecast that Surmodics, Inc. will post 0.17 earnings per share for the current fiscal year.

Surmodics Profile

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).