ClearAlpha Technologies LP Boosts Holdings in Surmodics, Inc. (NASDAQ:SRDX)

ClearAlpha Technologies LP boosted its holdings in shares of Surmodics, Inc. (NASDAQ:SRDX) by 19.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 60,152 shares of the company’s stock after buying an additional 10,000 shares during the quarter. Surmodics accounts for approximately 1.6% of ClearAlpha Technologies LP’s portfolio, making the stock its 16th biggest holding. ClearAlpha Technologies LP’s holdings in Surmodics were worth $2,382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SRDX. Modus Advisors LLC bought a new stake in shares of Surmodics during the 4th quarter valued at $40,000. R Squared Ltd bought a new stake in Surmodics during the fourth quarter valued at about $55,000. Legal & General Group Plc grew its holdings in Surmodics by 34.2% during the fourth quarter. Legal & General Group Plc now owns 3,452 shares of the company’s stock valued at $137,000 after purchasing an additional 880 shares during the period. Polymer Capital Management US LLC purchased a new stake in Surmodics in the fourth quarter worth about $255,000. Finally, SG Americas Securities LLC raised its stake in shares of Surmodics by 22.1% in the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock worth $275,000 after buying an additional 1,255 shares during the period. 96.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SRDX. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research note on Thursday, January 30th. StockNews.com initiated coverage on shares of Surmodics in a research report on Monday, February 3rd. They issued a “hold” rating for the company. Finally, Lake Street Capital upgraded shares of Surmodics from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Surmodics has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Down 2.0 %

Shares of NASDAQ:SRDX opened at $27.57 on Monday. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $30.51 and its 200 day moving average is $35.52. The stock has a market cap of $394.14 million, a P/E ratio of -27.30 and a beta of 1.30. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44.

Surmodics (NASDAQ:SRDX) last announced its quarterly 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 return on equity of 4.39% and a negative net margin of 11.48%. Sell-side analysts predict that Surmodics, Inc. will post 0.2 EPS for the current 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).