Salem Investment Counselors Inc. Sells 52,795 Shares of Surmodics, Inc. $SRDX

Salem Investment Counselors Inc. cut its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 45.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,155 shares of the company’s stock after selling 52,795 shares during the quarter. Salem Investment Counselors Inc. owned approximately 0.43% of Surmodics worth $1,858,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in shares of Surmodics by 103.9% in the first quarter. Invesco Ltd. now owns 11,844 shares of the company’s stock worth $362,000 after acquiring an additional 6,036 shares during the last quarter. Nuveen LLC bought a new stake in shares of Surmodics during the 1st quarter valued at approximately $1,262,000. Algert Global LLC increased its position in Surmodics by 146.3% during the 1st quarter. Algert Global LLC now owns 35,122 shares of the company’s stock worth $1,072,000 after purchasing an additional 20,862 shares in the last quarter. Wellington Management Group LLP acquired a new position in Surmodics during the 1st quarter worth approximately $815,000. Finally, Maven Securities LTD bought a new position in Surmodics in the 1st quarter valued at approximately $366,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Analyst Ratings Changes

SRDX has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surmodics in a research note on Wednesday, October 8th. Barrington Research reiterated an “underperform” rating on shares of Surmodics in a research note on Friday, November 14th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $43.00.

Surmodics Stock Up 0.4%

NASDAQ:SRDX opened at $42.98 on Thursday. Surmodics, Inc. has a one year low of $25.87 and a one year high of $43.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.91 and a quick ratio of 3.10. The company has a market cap of $614.53 million, a PE ratio of -34.94 and a beta of 1.30. The firm’s 50 day simple moving average is $35.80 and its 200 day simple moving average is $33.42.

Surmodics Profile

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).