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% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,011,262 shares of the company’s stock after selling 29,168 shares during the period. Alliancebernstein L.P. owned 0.07% of Surmodics worth $40,046,000 as of its most recent SEC filing.

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

Surmodics Stock Down 2.6 %

NASDAQ:SRDX opened at $29.32 on Friday. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. Surmodics, Inc. has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a market cap of $419.16 million, a PE ratio of -29.03 and a beta of 1.30. The company’s 50 day moving average is $32.16 and its two-hundred day moving average is $36.43.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate 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 anticipate that Surmodics, Inc. will post 0.2 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SRDX shares. StockNews.com began coverage on shares of Surmodics in a research report on Monday, February 3rd. They set a “hold” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Finally, Lake Street Capital upgraded Surmodics from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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).