Boussard & Gavaudan Investment Management LLP Purchases New Shares in Surmodics, Inc. (NASDAQ:SRDX)

Boussard & Gavaudan Investment Management LLP acquired a new position in Surmodics, Inc. (NASDAQ:SRDX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 98,375 shares of the company’s stock, valued at approximately $3,899,000. Boussard & Gavaudan Investment Management LLP owned approximately 0.69% of Surmodics as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Oddo BHF Asset Management Sas acquired a new stake in shares of Surmodics in the third quarter valued at approximately $6,593,000. State Street Corp raised its holdings in Surmodics by 19.2% in the 3rd quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after acquiring an additional 60,240 shares in the last quarter. Murchinson Ltd. bought a new stake in shares of Surmodics during the 3rd quarter valued at $2,133,000. Mint Tower Capital Management B.V. bought a new stake in shares of Surmodics during the 4th quarter valued at $1,507,000. Finally, Norges Bank bought a new position in shares of Surmodics in the fourth quarter worth $1,251,000. Institutional investors own 96.63% of the company’s stock.

Wall Street Analyst Weigh In

SRDX has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. StockNews.com began coverage on Surmodics in a research note on Monday, February 3rd. They set a “hold” rating for the company. Finally, Lake Street Capital upgraded Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Surmodics presently has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Stock Performance

Shares of Surmodics stock opened at $30.61 on Friday. The company’s 50 day moving average price is $32.99 and its two-hundred day moving average price is $36.83. The firm has a market capitalization of $437.60 million, a P/E ratio of -30.31 and a beta of 1.19. Surmodics, Inc. has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. On average, equities analysts forecast that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

About Surmodics

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).