Gamco Investors INC. ET AL held its position in shares of Surmodics, Inc. (NASDAQ:SRDX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,648 shares of the company’s stock at the end of the second quarter. Gamco Investors INC. ET AL owned about 0.80% of Surmodics worth $2,974,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SRDX. Teachers Advisors LLC boosted its position in shares of Surmodics by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 33,390 shares of the company’s stock worth $848,000 after buying an additional 2,574 shares in the last quarter. Trellus Management Company LLC bought a new stake in Surmodics during the first quarter worth approximately $216,000. Wedge Capital Management L L P NC raised its stake in 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 last quarter. Bank of New York Mellon Corp raised its stake 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 buying an additional 6,327 shares during the last quarter. Finally, Comerica Bank raised its stake in 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 last quarter. Institutional investors and hedge funds own 84.79% of the company’s stock.
Shares of Surmodics, Inc. (NASDAQ:SRDX) opened at 25.40 on Friday. Surmodics, Inc. has a 1-year low of $21.90 and a 1-year high of $30.75. The company’s 50 day moving average price is $26.36 and its 200-day moving average price is $24.83. The firm has a market cap of $332.97 million, a price-to-earnings ratio of 55.34 and a beta of 0.88.
Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. The business had revenue of $17.80 million for the quarter, compared to the consensus estimate of $15.98 million. Surmodics had a return on equity of 7.28% and a net margin of 8.66%. The firm’s revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. Equities analysts expect that Surmodics, Inc. will post $0.31 EPS for the current fiscal year.
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A number of research firms recently commented on SRDX. Lake Street Capital began coverage on Surmodics in a research note on Friday, July 14th. They set a “buy” rating and a $40.00 price objective on the stock. Aegis began coverage on Surmodics in a research note on Tuesday, June 27th. They set a “buy” rating on the stock. Zacks Investment Research lowered Surmodics from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. ValuEngine lowered Surmodics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, BidaskClub raised Surmodics from a “sell” rating to a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.33.
In related news, VP Joseph J. Stich sold 1,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $25.31, for a total transaction of $25,310.00. Following the sale, the vice president now owns 40,672 shares of the company’s stock, valued at approximately $1,029,408.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bryan K. Phillips sold 1,226 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $24.85, for a total value of $30,466.10. Following the sale, the senior vice president now directly owns 29,208 shares in the company, valued at approximately $725,818.80. The disclosure for this sale can be found here. Insiders have sold a total of 14,928 shares of company stock worth $392,469 in the last ninety days. 6.40% of the stock is currently owned by company insiders.
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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