Yakira Capital Management Inc. Increases Stock Position in Surmodics, Inc. (NASDAQ:SRDX)

Yakira Capital Management Inc. grew its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 103.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,113 shares of the company’s stock after purchasing an additional 36,113 shares during the quarter. Yakira Capital Management Inc. owned approximately 0.50% of Surmodics worth $2,816,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN grew its holdings in Surmodics by 40.9% during the 4th quarter. Wells Fargo & Company MN now owns 7,032 shares of the company’s stock valued at $278,000 after buying an additional 2,041 shares during the last quarter. DLD Asset Management LP purchased a new stake in shares of Surmodics in the fourth quarter valued at $2,514,000. Diametric Capital LP boosted its stake in shares of Surmodics by 89.6% during the fourth quarter. Diametric Capital LP now owns 20,437 shares of the company’s stock valued at $809,000 after acquiring an additional 9,659 shares during the last quarter. Gardner Lewis Asset Management L P increased its position in Surmodics by 23.5% during the 4th quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company’s stock worth $10,410,000 after purchasing an additional 49,944 shares in the last quarter. Finally, Boussard & Gavaudan Investment Management LLP acquired a new position in Surmodics in the 4th quarter valued at about $3,899,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SRDX has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research note on Thursday, January 30th. StockNews.com assumed coverage on shares of Surmodics in a research report on Monday, February 3rd. They set a “hold” rating on the stock. Finally, Lake Street Capital upgraded Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Friday, March 7th. 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, the company has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Price Performance

SRDX opened at $29.32 on Friday. Surmodics, Inc. has a 1 year low of $25.17 and a 1 year high of $42.44. The company’s 50 day simple moving average is $32.16 and its 200 day simple moving average is $36.43. The stock has a market capitalization of $419.16 million, a PE ratio of -29.03 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. As a group, sell-side analysts expect that Surmodics, Inc. will post 0.2 EPS for the current 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).