Longfellow Investment Management Co. LLC Purchases Shares of 1,724 Surmodics, Inc. (NASDAQ:SRDX)

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

A number of other hedge funds have also made changes to their positions in the business. Quest Partners LLC boosted its holdings in shares of Surmodics by 107,100.0% in the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after acquiring an additional 1,071 shares during the period. Hardin Capital Partners LLC purchased a new stake in shares of Surmodics during the second quarter worth approximately $206,000. The Manufacturers Life Insurance Company purchased a new position in Surmodics in the 2nd quarter valued at $229,000. Lazard Asset Management LLC increased its stake in Surmodics by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after buying an additional 673 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Surmodics during the 3rd quarter worth $220,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SRDX shares. StockNews.com started coverage on shares of Surmodics in a research note on Saturday. They set a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Surmodics currently has an average rating of “Hold” and a consensus price target of $50.00.

Surmodics Stock Performance

Shares of NASDAQ SRDX opened at $39.33 on Monday. Surmodics, Inc. has a 52 week low of $25.17 and a 52 week high of $42.44. The firm has a 50-day moving average price of $38.49 and a 200 day moving average price of $39.48. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25.

Surmodics (NASDAQ:SRDX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. The company 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%. Research analysts predict that Surmodics, Inc. will post 0.17 EPS for the current year.

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).