PDT Partners LLC acquired a new position in SurModics, Inc. (NASDAQ:SRDX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,800 shares of the company’s stock, valued at approximately $445,000. PDT Partners LLC owned 0.12% of SurModics as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP raised its position in SurModics by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 630,777 shares of the company’s stock worth $17,756,000 after acquiring an additional 30,356 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in SurModics by 4.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 22,290 shares of the company’s stock worth $627,000 after buying an additional 852 shares during the period. Vanguard Group Inc. raised its holdings in SurModics by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 717,091 shares of the company’s stock worth $20,187,000 after buying an additional 22,977 shares during the period. Northern Trust Corp raised its holdings in SurModics by 4.6% during the 2nd quarter. Northern Trust Corp now owns 186,125 shares of the company’s stock worth $5,239,000 after buying an additional 8,231 shares during the period. Finally, Thrivent Financial For Lutherans purchased a new position in SurModics during the 2nd quarter valued at about $226,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.
In other SurModics news, VP Joseph J. Stich sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $27.28, for a total transaction of $27,280.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $128,750.00. Following the sale, the chief executive officer now owns 126,807 shares in the company, valued at approximately $3,265,280.25. The disclosure for this sale can be found here. Insiders sold 6,801 shares of company stock worth $178,338 in the last quarter. 6.40% of the stock is currently owned by company insiders.
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Several equities analysts have weighed in on SRDX shares. BidaskClub cut SurModics from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. ValuEngine cut SurModics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Aegis began coverage on SurModics in a research note on Tuesday, June 27th. They issued a “buy” rating for the company. Finally, Lake Street Capital began coverage on SurModics in a research note on Friday, July 14th. They issued a “buy” rating and a $40.00 price target for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. SurModics currently has an average rating of “Hold” and a consensus price target of $40.00.
Shares of SurModics, Inc. (NASDAQ SRDX) opened at 31.50 on Tuesday. SurModics, Inc. has a 12 month low of $21.90 and a 12 month high of $32.80. The company has a market cap of $412.93 million, a PE ratio of 68.63 and a beta of 0.86. The firm’s 50-day moving average price is $29.30 and its 200-day moving average price is $26.08.
SurModics (NASDAQ:SRDX) last posted 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. SurModics had a return on equity of 2.64% and a net margin of 4.05%. The firm had revenue of $17.80 million during the quarter, compared to analyst estimates of $15.98 million. During the same period last year, the company earned $0.37 earnings per share. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. Equities analysts predict that SurModics, Inc. will post $0.31 EPS for the current fiscal year.
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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