Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Surmodics, Inc. (NASDAQ:SRDX)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Surmodics, Inc. (NASDAQ:SRDX) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 43,300 shares of the company’s stock, valued at approximately $1,270,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.30% of Surmodics at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SRDX. Vanguard Group Inc. boosted its position in shares of Surmodics by 0.7% in the first quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock valued at $25,385,000 after acquiring an additional 5,927 shares during the period. Acadian Asset Management LLC increased its stake in Surmodics by 11.3% during the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock valued at $11,988,000 after acquiring an additional 41,617 shares during the period. Russell Investments Group Ltd. increased its stake in Surmodics by 6.4% during the fourth quarter. Russell Investments Group Ltd. now owns 67,845 shares of the company’s stock valued at $2,466,000 after acquiring an additional 4,066 shares during the period. Panagora Asset Management Inc. raised its holdings in Surmodics by 109.8% in the 4th quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock valued at $1,624,000 after acquiring an additional 23,379 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Surmodics by 61.9% in the 4th quarter. US Bancorp DE now owns 16,190 shares of the company’s stock worth $589,000 after acquiring an additional 6,193 shares during the period. Institutional investors own 96.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SRDX. Barrington Research reissued a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Lake Street Capital reaffirmed a “hold” rating and issued a $43.00 price target on shares of Surmodics in a research note on Wednesday, May 29th. Sidoti reissued a “neutral” rating and set a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Wednesday, May 29th. Finally, StockNews.com started coverage on shares of Surmodics in a research note on Thursday, July 18th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Trading Down 0.6 %

Shares of NASDAQ SRDX traded down $0.26 during mid-day trading on Thursday, hitting $41.55. The company’s stock had a trading volume of 248,296 shares, compared to its average volume of 191,444. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.59. The stock has a market cap of $592.50 million, a price-to-earnings ratio of 44.01 and a beta of 1.18. The company’s fifty day simple moving average is $40.65 and its 200-day simple moving average is $34.15. Surmodics, Inc. has a one year low of $25.17 and a one year high of $42.44.

Surmodics (NASDAQ:SRDX) last released its earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.43. Surmodics had a net margin of 9.44% and a return on equity of 13.30%. The firm had revenue of $31.96 million during the quarter, compared to analyst estimates of $28.79 million. During the same quarter in the previous year, the business earned ($0.40) EPS. On average, sell-side analysts anticipate that Surmodics, Inc. will post -0.51 earnings per share 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).