Schwab Charles Investment Management Inc. cut its position in Surmodics, Inc. (NASDAQ:SRDX) by 19.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,750 shares of the company’s stock after selling 13,268 shares during the period. Schwab Charles Investment Management Inc. owned 0.40% of Surmodics worth $1,514,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC increased its holdings in shares of Surmodics by 4.0% in the first quarter. Renaissance Technologies LLC now owns 1,002,721 shares of the company’s stock worth $24,115,000 after purchasing an additional 38,683 shares during the period. Vanguard Group Inc. grew its position in Surmodics by 4.6% in the first quarter. Vanguard Group Inc. now owns 694,114 shares of the company’s stock worth $16,693,000 after acquiring an additional 30,518 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Surmodics by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 600,421 shares of the company’s stock worth $14,440,000 after acquiring an additional 12,497 shares in the last quarter. Bank of New York Mellon Corp grew its position in Surmodics by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 191,688 shares of the company’s stock worth $4,609,000 after acquiring an additional 6,327 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Surmodics by 4.9% in the first quarter. Geode Capital Management LLC now owns 164,452 shares of the company’s stock worth $3,954,000 after acquiring an additional 7,607 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.
Several equities analysts have recently commented on the stock. Lake Street Capital started coverage on shares of Surmodics in a research note on Friday, July 14th. They set a “buy” rating and a $40.00 price objective for the company. ValuEngine upgraded shares of Surmodics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded shares of Surmodics from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $40.00.
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Surmodics, Inc. (NASDAQ SRDX) traded up $0.15 during mid-day trading on Friday, hitting $30.00. 27,100 shares of the stock traded hands, compared to its average volume of 39,453. The stock has a market cap of $396.02, a P/E ratio of 58.53 and a beta of 0.78. Surmodics, Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $32.80.
Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.19. The firm had revenue of $20.06 million for the quarter, compared to the consensus estimate of $16.98 million. Surmodics had a net margin of 5.37% and a return on equity of 6.18%. analysts predict that Surmodics, Inc. will post -0.28 earnings per share for the current year.
In other Surmodics news, VP Joseph J. Stich sold 1,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $27.28, for a total transaction of $27,280.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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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