Tudor Investment Corp ET AL lowered its position in Surmodics, Inc. (NASDAQ:SRDX) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,502 shares of the company’s stock after selling 376 shares during the period. Tudor Investment Corp ET AL owned about 0.06% of Surmodics worth $204,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in SRDX. Trellus Management Company LLC acquired a new stake in shares of Surmodics during the first quarter worth about $216,000. Wedge Capital Management L L P NC increased its stake in shares of Surmodics by 17.0% in the first quarter. Wedge Capital Management L L P NC now owns 12,048 shares of the company’s stock worth $290,000 after buying an additional 1,750 shares during the period. State of Tennessee Treasury Department increased its stake in shares of Surmodics by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 12,786 shares of the company’s stock worth $308,000 after buying an additional 1,930 shares during the period. Comerica Bank increased its stake in shares of Surmodics by 5.1% in the first quarter. Comerica Bank now owns 14,586 shares of the company’s stock worth $343,000 after buying an additional 712 shares during the period. Finally, Nine Chapters Capital Management LLC acquired a new stake in shares of Surmodics during the first quarter worth about $438,000. 85.80% of the stock is owned by institutional investors.
Shares of Surmodics, Inc. (SRDX) opened at 27.15 on Friday. The stock has a 50 day moving average price of $26.77 and a 200 day moving average price of $24.73. The stock has a market capitalization of $360.44 million, a P/E ratio of 38.35 and a beta of 0.89. Surmodics, Inc. has a 12-month low of $21.90 and a 12-month high of $30.75.
Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Thursday, April 27th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.02. The business had revenue of $17.50 million for the quarter, compared to the consensus estimate of $16.21 million. Surmodics had a net margin of 12.88% and a return on equity of 10.95%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.20 EPS. On average, equities analysts anticipate that Surmodics, Inc. will post $0.19 earnings per share for the current fiscal year.
WARNING: This piece of content was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/07/30/surmodics-inc-srdx-stake-cut-by-tudor-investment-corp-et-al.html.
A number of analysts have issued reports on SRDX shares. Lake Street Capital started coverage on Surmodics in a report on Friday, July 14th. They set a “buy” rating and a $40.00 price target for the company. BidaskClub downgraded Surmodics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Aegis started coverage on Surmodics in a report on Tuesday, June 27th. They set a “buy” rating for the company. Finally, Zacks Investment Research downgraded Surmodics from a “hold” rating to a “sell” rating in a report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $34.33.
In other news, CEO Gary R. Maharaj sold 5,000 shares of Surmodics stock in a transaction that occurred 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 sale, the chief executive officer now owns 131,807 shares of the company’s stock, valued at $3,694,550.21. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Joseph J. Stich sold 1,000 shares of Surmodics stock in a transaction that occurred 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 sale, the vice president now directly 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 ninety 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.
Want to see what other hedge funds are holding SRDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Surmodics, Inc. (NASDAQ:SRDX).
Receive News & Ratings for Surmodics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surmodics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
