Alpine Global Management LLC Takes $1.98 Million Position in Surmodics, Inc. (NASDAQ:SRDX)

Alpine Global Management LLC acquired a new position in Surmodics, Inc. (NASDAQ:SRDX) during the fourth quarter, Holdings Channel.com reports. The firm acquired 50,000 shares of the company’s stock, valued at approximately $1,980,000.

Several other institutional investors have also modified their holdings of SRDX. Rhumbline Advisers raised its position in shares of Surmodics by 4.4% in the 4th quarter. Rhumbline Advisers now owns 20,250 shares of the company’s stock valued at $802,000 after purchasing an additional 861 shares in the last quarter. Legal & General Group Plc boosted its stake in Surmodics by 34.2% during the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company’s stock valued at $137,000 after acquiring an additional 880 shares during the last quarter. Modus Advisors LLC acquired a new position in Surmodics during the 4th quarter worth $40,000. SG Americas Securities LLC increased its position in shares of Surmodics by 22.1% in the 4th quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock worth $275,000 after purchasing an additional 1,255 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Surmodics during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Analyst Ratings Changes

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

Surmodics Price Performance

Shares of Surmodics stock opened at $28.55 on Tuesday. Surmodics, Inc. has a 52 week low of $25.17 and a 52 week high of $42.44. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. The stock has a market cap of $408.15 million, a PE ratio of -28.27 and a beta of 1.30. The company’s 50-day moving average price is $30.41 and its two-hundred day moving average price is $35.45.

Surmodics (NASDAQ:SRDX) last released its earnings results on Thursday, February 6th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate 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 anticipate that Surmodics, Inc. will post 0.2 EPS 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).