Alliancebernstein L.P. Sells 29,168 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Alliancebernstein L.P. lowered its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,011,262 shares of the company’s stock after selling 29,168 shares during the quarter. Alliancebernstein L.P. owned 7.07% of Surmodics worth $40,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SRDX. Modus Advisors LLC bought a new position in Surmodics during the fourth quarter valued at $40,000. R Squared Ltd purchased a new position in shares of Surmodics during the 4th quarter worth about $55,000. SG Americas Securities LLC boosted its stake in shares of Surmodics by 22.1% during the 4th quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock worth $275,000 after purchasing an additional 1,255 shares during the period. New York State Common Retirement Fund grew its holdings in Surmodics by 12.4% during the 4th quarter. New York State Common Retirement Fund now owns 19,544 shares of the company’s stock valued at $774,000 after purchasing an additional 2,162 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Surmodics by 4.4% in the 4th quarter. Rhumbline Advisers now owns 20,250 shares of the company’s stock worth $802,000 after purchasing an additional 861 shares during the period. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Surmodics Stock Down 2.6 %

Shares of NASDAQ SRDX opened at $29.32 on Friday. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44. The firm has a market capitalization of $419.16 million, a price-to-earnings ratio of -29.03 and a beta of 1.30. The stock has a 50 day moving average price of $32.16 and a 200 day moving average price of $36.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. Sell-side analysts expect that Surmodics, Inc. will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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).