Murchinson Ltd. Acquires Shares of 55,000 Surmodics, Inc. (NASDAQ:SRDX)

Murchinson Ltd. bought a new position in shares of Surmodics, Inc. (NASDAQ:SRDX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,000 shares of the company’s stock, valued at approximately $2,133,000. Surmodics makes up 0.6% of Murchinson Ltd.’s investment portfolio, making the stock its 22nd largest holding. Murchinson Ltd. owned about 0.39% of Surmodics at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new stake in Surmodics during the third quarter worth about $1,190,000. Renaissance Technologies LLC lifted its holdings in shares of Surmodics by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock worth $25,499,000 after acquiring an additional 28,990 shares during the period. Sagefield Capital LP acquired a new stake in shares of Surmodics during the 2nd quarter worth approximately $2,350,000. Gardner Lewis Asset Management L P bought a new position in Surmodics in the second quarter valued at approximately $8,531,000. Finally, Trium Capital LLP acquired a new position in Surmodics during the second quarter valued at approximately $1,406,000. 96.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total transaction of $276,434.96. Following the transaction, the chief financial officer now directly owns 70,350 shares of the company’s stock, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.90% of the company’s stock.

Surmodics Stock Performance

NASDAQ SRDX opened at $39.49 on Wednesday. Surmodics, Inc. has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22. The business’s fifty day moving average is $38.52 and its 200 day moving average is $39.76.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The firm had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. Equities analysts predict that Surmodics, Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on SRDX. StockNews.com assumed coverage on Surmodics in a report on Sunday. They issued a “hold” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Surmodics has an average rating of “Hold” and a consensus target price of $50.00.

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).