Longfellow Investment Management Co. LLC Buys New Position in Surmodics, Inc. (NASDAQ:SRDX)

Longfellow Investment Management Co. LLC purchased a new position in shares of Surmodics, Inc. (NASDAQ:SRDX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,724 shares of the company’s stock, valued at approximately $67,000.

Several other hedge funds also recently modified their holdings of SRDX. Lazard Asset Management LLC grew its position in shares of Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after purchasing an additional 673 shares during the period. Quest Partners LLC boosted its stake in Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after buying an additional 1,071 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Surmodics by 3.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock valued at $1,531,000 after buying an additional 1,221 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Surmodics by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock valued at $4,511,000 after acquiring an additional 1,491 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its stake in shares of Surmodics by 6.9% during the 3rd quarter. Wolverine Asset Management LLC now owns 27,766 shares of the company’s stock valued at $1,077,000 after acquiring an additional 1,800 shares during the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SRDX has been the subject of a number of recent analyst reports. StockNews.com began coverage on shares of Surmodics in a report on Saturday. They issued a “hold” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.00.

Surmodics Trading Up 0.4 %

SRDX opened at $39.33 on Monday. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $38.49 and its 200 day moving average price is $39.48. Surmodics, Inc. has a fifty-two week low of $25.17 and a fifty-two week high of $42.44.

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