Surmodics, Inc. $SRDX Position Lessened by Credit Industriel ET Commercial

Credit Industriel ET Commercial lowered its position in Surmodics, Inc. (NASDAQ:SRDX) by 30.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,200 shares of the company’s stock after selling 26,300 shares during the quarter. Credit Industriel ET Commercial’s holdings in Surmodics were worth $1,759,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Surmodics by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 36,699 shares of the company’s stock valued at $1,120,000 after buying an additional 638 shares during the last quarter. Tabor Asset Management LP acquired a new position in Surmodics in the first quarter worth approximately $2,476,000. Burren Capital Advisors Ltd bought a new position in Surmodics during the first quarter valued at approximately $1,094,000. Invesco Ltd. lifted its stake in Surmodics by 103.9% in the first quarter. Invesco Ltd. now owns 11,844 shares of the company’s stock valued at $362,000 after acquiring an additional 6,036 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Surmodics in the first quarter worth approximately $1,262,000. 96.63% of the stock is owned by institutional investors and hedge funds.

Surmodics Price Performance

NASDAQ SRDX opened at $26.79 on Friday. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $29.79 and a 200 day simple moving average of $30.74. The company has a market cap of $383.04 million, a P/E ratio of -21.78 and a beta of 1.30. Surmodics, Inc. has a 1 year low of $25.87 and a 1 year high of $40.38.

Surmodics (NASDAQ:SRDX) last announced its earnings results on Friday, August 8th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.27. The firm had revenue of $29.57 million for the quarter, compared to the consensus estimate of $28.04 million. Surmodics had a negative net margin of 14.59% and a negative return on equity of 2.99%. On average, sell-side analysts predict that Surmodics, Inc. will post 0.2 EPS for the current year.

Analyst Ratings Changes

SRDX has been the topic of several analyst reports. Zacks Research upgraded shares of Surmodics to a “hold” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surmodics in a report on Wednesday, October 8th. Finally, Barrington Research restated a “market perform” rating on shares of Surmodics in a report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $43.00.

About Surmodics

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).