Gardner Lewis Asset Management L P Purchases 49,944 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Gardner Lewis Asset Management L P increased its position in Surmodics, Inc. (NASDAQ:SRDX) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 262,878 shares of the company’s stock after purchasing an additional 49,944 shares during the quarter. Surmodics makes up 2.5% of Gardner Lewis Asset Management L P’s holdings, making the stock its 15th largest position. Gardner Lewis Asset Management L P owned about 1.84% of Surmodics worth $10,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SRDX. Boussard & Gavaudan Investment Management LLP bought a new stake in Surmodics in the fourth quarter valued at approximately $3,899,000. Norges Bank acquired a new stake in Surmodics during the 4th quarter valued at $1,251,000. JPMorgan Chase & Co. boosted its position in Surmodics by 20.1% during the fourth quarter. JPMorgan Chase & Co. now owns 50,990 shares of the company’s stock worth $2,019,000 after purchasing an additional 8,520 shares during the period. Mint Tower Capital Management B.V. acquired a new position in shares of Surmodics in the fourth quarter valued at $1,507,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Surmodics by 165.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,000 shares of the company’s stock valued at $1,188,000 after purchasing an additional 18,692 shares during the period. Institutional investors own 96.63% of the company’s stock.

Surmodics Trading Up 0.4 %

Shares of NASDAQ:SRDX opened at $30.61 on Friday. The business’s 50 day simple moving average is $32.99 and its 200 day simple moving average is $36.83. Surmodics, Inc. has a 1 year low of $25.17 and a 1 year 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. The company has a market capitalization of $437.60 million, a P/E ratio of -30.31 and a beta of 1.19.

Surmodics (NASDAQ:SRDX) last released its earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping 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, research analysts anticipate that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on SRDX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Lake Street Capital raised Surmodics from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Friday, March 7th. Finally, StockNews.com assumed coverage on Surmodics in a research note on Monday, February 3rd. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Surmodics currently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Company 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).