ClearAlpha Technologies LP Has $1.95 Million Position in Surmodics, Inc. (NASDAQ:SRDX)

ClearAlpha Technologies LP grew its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 99.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,152 shares of the company’s stock after buying an additional 24,979 shares during the quarter. Surmodics makes up 0.5% of ClearAlpha Technologies LP’s portfolio, making the stock its 27th largest position. ClearAlpha Technologies LP’s holdings in Surmodics were worth $1,945,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in Surmodics during the 3rd quarter worth $1,190,000. Renaissance Technologies LLC lifted its stake in shares of Surmodics by 5.0% during the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after acquiring an additional 28,990 shares during the period. Sagefield Capital LP bought a new position in Surmodics in the second quarter valued at about $2,350,000. Gardner Lewis Asset Management L P bought a new position in Surmodics in the second quarter valued at about $8,531,000. Finally, Trium Capital LLP acquired a new stake in Surmodics in the second quarter worth about $1,406,000. 96.63% of the stock is owned by institutional investors.

Insider Buying and Selling at Surmodics

In other news, CFO Timothy J. Arens sold 7,009 shares of the business’s 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 sale, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.90% of the company’s stock.

Surmodics Stock Performance

Shares of NASDAQ SRDX opened at $39.45 on Monday. The stock has a 50 day moving average of $38.52 and a 200-day moving average of $39.68. 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 has a market capitalization of $565.16 million, a P/E ratio of -48.70 and a beta of 1.20. Surmodics, Inc. has a 12 month low of $25.17 and a 12 month high of $42.44.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.14. The business had revenue of $33.23 million during the quarter, compared to analysts’ expectations of $30.69 million. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. As a group, equities research analysts predict that Surmodics, Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

SRDX has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. StockNews.com initiated coverage on shares of Surmodics in a report on Sunday. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Surmodics currently has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Company 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).