Skandinaviska Enskilda Banken AB publ Boosts Stake in Surmodics, Inc. (NASDAQ:SRDX)

Skandinaviska Enskilda Banken AB publ raised its position in Surmodics, Inc. (NASDAQ:SRDX) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,627 shares of the company’s stock after purchasing an additional 7,279 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.40% of Surmodics worth $2,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new stake in Surmodics during the 3rd quarter worth approximately $6,593,000. Phocas Financial Corp. purchased a new position in Surmodics in the third quarter valued at approximately $3,430,000. State Street Corp raised its holdings in Surmodics by 19.2% in the third quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after buying an additional 60,240 shares during the period. Murchinson Ltd. purchased a new position in Surmodics in the third quarter valued at approximately $2,133,000. Finally, Principal Financial Group Inc. purchased a new position in Surmodics in the third quarter valued at approximately $1,190,000. 96.63% of the stock is owned by institutional investors and hedge funds.

Surmodics Trading Down 0.1 %

SRDX opened at $28.30 on Monday. The firm has a market capitalization of $404.58 million, a P/E ratio of -28.02 and a beta of 1.19. The firm’s 50 day moving average is $34.37 and its 200-day moving average is $37.37. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) 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%. Analysts expect that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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).