Tudor Investment Corp ET AL decreased its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,502 shares of the company’s stock after selling 376 shares during the period. Tudor Investment Corp ET AL owned approximately 0.06% of Surmodics worth $204,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in Surmodics during the fourth quarter valued at approximately $937,000. Comerica Bank increased its stake in Surmodics by 5.2% in the fourth quarter. Comerica Bank now owns 13,874 shares of the company’s stock valued at $345,000 after buying an additional 691 shares in the last quarter. 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 valued at $7,962,000 after buying an additional 30,557 shares in the last quarter. 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 valued at $14,933,000 after buying an additional 37,480 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in Surmodics by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 33,390 shares of the company’s stock valued at $848,000 after buying an additional 2,574 shares in the last quarter. 84.83% of the stock is owned by hedge funds and other institutional investors.
Surmodics, Inc. (NASDAQ:SRDX) traded down 1.97% during midday trading on Wednesday, reaching $24.90. The company had a trading volume of 31,848 shares. The company’s 50 day moving average is $26.93 and its 200-day moving average is $24.76. The company has a market capitalization of $330.57 million, a P/E ratio of 35.17 and a beta of 0.88. Surmodics, Inc. has a 52-week low of $21.90 and a 52-week high of $30.75.
Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Surmodics had a net margin of 8.66% and a return on equity of 7.28%. The business had revenue of $17.80 million for the quarter, compared to analyst estimates of $15.98 million. During the same period last year, the firm earned $0.37 earnings per share. Surmodics’s revenue for the quarter was down 11.0% compared to the same quarter last year. Equities analysts expect that Surmodics, Inc. will post $0.27 earnings per share for the current fiscal year.
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Several analysts have commented on SRDX shares. Zacks Investment Research downgraded Surmodics from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. Aegis started coverage on Surmodics in a research report on Tuesday, June 27th. They set a “buy” rating on the stock. BidaskClub cut Surmodics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Lake Street Capital started coverage on Surmodics in a research report on Friday, July 14th. They set a “buy” rating and a $40.00 target price on the stock. Finally, ValuEngine cut Surmodics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $34.33.
In related news, CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $25.75, for a total transaction of $128,750.00. Following the transaction, the chief executive officer now directly owns 126,807 shares of the company’s stock, valued at $3,265,280.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Joseph J. Stich sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $25.31, for a total transaction of $25,310.00. Following the transaction, the vice president now directly owns 40,672 shares in the company, valued at $1,029,408.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,928 shares of company stock worth $392,469. 6.40% of the stock is owned by insiders.
About Surmodics
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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