Vanguard Group Inc. raised its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 694,114 shares of the company’s stock after buying an additional 30,518 shares during the period. Vanguard Group Inc. owned 5.25% of Surmodics worth $16,693,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Trigran Investments Inc. increased its stake in shares of Surmodics by 52.4% in the first quarter. Trigran Investments Inc. now owns 1,070,499 shares of the company’s stock worth $25,745,000 after buying an additional 368,212 shares during the period. Wellington Management Group LLP increased its stake in shares of Surmodics by 8.7% in the first quarter. Wellington Management Group LLP now owns 1,174,839 shares of the company’s stock worth $28,255,000 after buying an additional 94,388 shares during the period. Principal Financial Group Inc. increased its stake in shares of Surmodics by 4.0% in the first quarter. Principal Financial Group Inc. now owns 102,916 shares of the company’s stock worth $2,475,000 after buying an additional 3,978 shares during the period. Cadence Capital Management LLC increased its stake in shares of Surmodics by 4.4% in the first quarter. Cadence Capital Management LLC now owns 20,597 shares of the company’s stock worth $495,000 after buying an additional 876 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Surmodics by 2.6% in the first quarter. Prudential Financial Inc. now owns 49,692 shares of the company’s stock worth $1,195,000 after buying an additional 1,240 shares during the period. Hedge funds and other institutional investors own 84.79% of the company’s stock.
Shares of Surmodics, Inc. (NASDAQ SRDX) traded up 0.40% during midday trading on Friday, hitting $25.40. 16,229 shares of the stock were exchanged. The stock’s 50-day moving average price is $26.36 and its 200 day moving average price is $24.83. The stock has a market cap of $332.97 million, a P/E ratio of 55.34 and a beta of 0.88. Surmodics, Inc. has a one year low of $21.90 and a one year 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 the Zacks’ consensus estimate of ($0.01) by $0.10. The company had revenue of $17.80 million for the quarter, compared to analyst estimates of $15.98 million. Surmodics had a return on equity of 7.28% and a net margin of 8.66%. Surmodics’s revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. On average, analysts anticipate that Surmodics, Inc. will post $0.31 earnings per share for the current year.
A number of equities research analysts have recently commented on the stock. Lake Street Capital assumed coverage on shares of Surmodics in a report on Friday, July 14th. They set a “buy” rating and a $40.00 price target for the company. BidaskClub downgraded shares of Surmodics from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. ValuEngine downgraded shares of Surmodics from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Aegis assumed coverage on shares of Surmodics in a report on Tuesday, June 27th. They set a “buy” rating for the company. Finally, Zacks Investment Research downgraded shares of Surmodics from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Surmodics currently has an average rating of “Hold” and a consensus price target of $34.33.
In other news, CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $25.75, for a total transaction of $128,750.00. Following the sale, the chief executive officer now 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 at the SEC website. 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 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 14,928 shares of company stock worth $392,469. 6.40% of the stock is currently 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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