Foundry Partners LLC Purchases New Position in Surmodics, Inc. (SRDX)
Foundry Partners LLC purchased a new position in shares of Surmodics, Inc. (NASDAQ:SRDX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 88,575 shares of the company’s stock, valued at approximately $2,746,000. Foundry Partners LLC owned about 0.68% of Surmodics as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in Surmodics by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,312 shares of the company’s stock worth $318,000 after buying an additional 262 shares during the last quarter. State Street Corp grew its stake in Surmodics by 0.4% during the 2nd quarter. State Street Corp now owns 326,497 shares of the company’s stock worth $9,190,000 after buying an additional 1,401 shares during the last quarter. PDT Partners LLC purchased a new position in Surmodics during the 2nd quarter worth approximately $445,000. Dimensional Fund Advisors LP grew its stake in Surmodics by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 630,777 shares of the company’s stock worth $17,756,000 after buying an additional 30,356 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake 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 last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.
A number of research firms recently issued reports on SRDX. Lake Street Capital began coverage on Surmodics in a research note on Friday, July 14th. They set a “buy” rating and a $40.00 price target on the stock. BidaskClub downgraded Surmodics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, ValuEngine raised Surmodics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Four investment analysts have rated the stock with 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 $40.00.
In other news, VP Joseph J. Stich sold 1,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $27.28, for a total transaction of $27,280.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 6.40% of the stock is currently owned by corporate insiders.
Shares of Surmodics, Inc. (SRDX) opened at $29.25 on Tuesday. The firm has a market capitalization of $383.47, a P/E ratio of 48.47 and a beta of 0.78. Surmodics, Inc. has a 1 year low of $21.90 and a 1 year high of $32.80.
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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