Ameriprise Financial Inc. increased its stake in Surmodics, Inc. (NASDAQ:SRDX) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,719 shares of the company’s stock after buying an additional 3,101 shares during the period. Ameriprise Financial Inc. owned approximately 0.56% of Surmodics worth $1,773,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of SRDX. Dimensional Fund Advisors LP increased its stake in Surmodics by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 587,924 shares of the company’s stock worth $14,933,000 after buying an additional 37,480 shares during the period. Russell Investments Group Ltd. acquired a new stake in Surmodics during the fourth quarter worth about $937,000. State Street Corp increased its stake in Surmodics by 10.8% in the fourth quarter. State Street Corp now owns 313,462 shares of the company’s stock worth $7,962,000 after buying an additional 30,557 shares during the period. Rice Hall James & Associates LLC increased its stake in Surmodics by 15.2% in the first quarter. Rice Hall James & Associates LLC now owns 107,651 shares of the company’s stock worth $2,589,000 after buying an additional 14,205 shares during the period. Finally, Trellus Management Company LLC acquired a new stake in Surmodics during the first quarter worth about $216,000. 84.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Surmodics, Inc. (SRDX) traded down 1.36% during trading on Tuesday, reaching $25.40. The company had a trading volume of 25,196 shares. The firm has a market capitalization of $337.21 million, a PE ratio of 35.88 and a beta of 0.88. Surmodics, Inc. has a 12 month low of $21.90 and a 12 month high of $30.75. The stock has a 50 day moving average price of $26.93 and a 200 day moving average price of $24.76.
Surmodics (NASDAQ:SRDX) last announced its earnings results on Thursday, August 3rd. The company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.10. Surmodics had a return on equity of 7.28% and a net margin of 8.66%. The company had revenue of $17.80 million for the quarter, compared to analyst estimates of $15.98 million. During the same quarter last year, the company earned $0.37 earnings per share. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Surmodics, Inc. will post $0.27 EPS for the current year.
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Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Surmodics from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Aegis assumed coverage on shares of Surmodics in a research report on Tuesday, June 27th. They issued a “buy” rating for the company. BidaskClub downgraded shares of Surmodics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Lake Street Capital assumed coverage on shares of Surmodics in a research report on Friday, July 14th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, ValuEngine downgraded shares of Surmodics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $34.33.
In other Surmodics news, CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $28.03, for a total transaction of $140,150.00. Following the transaction, the chief executive officer now owns 131,807 shares in the company, valued at approximately $3,694,550.21. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph J. Stich sold 1,000 shares of Surmodics stock in a transaction on Friday, June 9th. The shares were sold at an average price of $25.31, for a total value of $25,310.00. Following the completion of the transaction, the vice president now owns 40,672 shares in the company, valued at approximately $1,029,408.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,928 shares of company stock worth $263,719. Corporate insiders own 6.40% of the company’s stock.
Surmodics Company Profile
Surmodics, Inc is a provider of medical device and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company’s Medical Device segment consists of surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices; international cardiology and peripheral balloon design, development and manufacturing, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device.
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