C M Bidwell & Associates Ltd. Purchases New Position in SurModics, Inc. (SRDX)
C M Bidwell & Associates Ltd. purchased a new stake in SurModics, Inc. (NASDAQ:SRDX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,455 shares of the company’s stock, valued at approximately $109,000.
A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of SurModics by 13.9% in the second quarter. BlackRock Inc. now owns 2,069,955 shares of the company’s stock valued at $114,261,000 after buying an additional 251,990 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of SurModics in the third quarter valued at approximately $13,437,000. Acadian Asset Management LLC lifted its position in shares of SurModics by 63.1% in the third quarter. Acadian Asset Management LLC now owns 251,326 shares of the company’s stock valued at $18,761,000 after buying an additional 97,191 shares during the last quarter. Federated Investors Inc. PA acquired a new stake in shares of SurModics in the second quarter valued at approximately $3,959,000. Finally, American Century Companies Inc. acquired a new stake in shares of SurModics in the third quarter valued at approximately $4,050,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.
SRDX has been the subject of a number of recent analyst reports. BidaskClub raised SurModics from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $74.00 price objective on shares of SurModics in a research report on Friday, November 9th. Zacks Investment Research reaffirmed a “hold” rating on shares of SurModics in a research report on Friday, November 16th. Finally, Barrington Research raised their price objective on SurModics to $77.00 and gave the company an “outperform” rating in a research report on Thursday, August 23rd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. SurModics has a consensus rating of “Buy” and an average target price of $71.75.
SurModics (NASDAQ:SRDX) last released its quarterly earnings data on Friday, November 9th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. SurModics had a positive return on equity of 6.12% and a negative net margin of 5.48%. The company had revenue of $23.04 million during the quarter, compared to analysts’ expectations of $22.54 million. Sell-side analysts anticipate that SurModics, Inc. will post 0.08 EPS for the current year.
In related news, CEO Gary R. Maharaj sold 5,000 shares of SurModics stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $59.35, for a total transaction of $296,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph J. Stich sold 2,000 shares of SurModics stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $63.77, for a total value of $127,540.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,000 shares of company stock valued at $735,340. 7.70% of the stock is currently owned by insiders.
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Surmodics, Inc, together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and Ireland. It operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment offers surface modification coating technologies to enhance access, deliverability, and predictable deployment of medical devices, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device for the coronary, peripheral, neuro-vascular, urology, and other markets.
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