Goldman Sachs Group Inc. Has $933,000 Position in Surmodics, Inc. (SRDX)
Goldman Sachs Group Inc. decreased its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 2.1% during the first quarter, Holdings Channel reports. The fund owned 38,808 shares of the company’s stock after selling 820 shares during the period. Goldman Sachs Group Inc.’s holdings in Surmodics were worth $933,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of SRDX. State Street Corp raised its stake in Surmodics by 10.8% in the fourth quarter. State Street Corp now owns 313,462 shares of the company’s stock valued at $7,962,000 after buying an additional 30,557 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Surmodics by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 587,924 shares of the company’s stock valued at $14,933,000 after buying an additional 37,480 shares during the last quarter. Teachers Advisors LLC raised its stake in Surmodics by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 33,390 shares of the company’s stock valued at $848,000 after buying an additional 2,574 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in Surmodics by 15.2% in the first quarter. Rice Hall James & Associates LLC now owns 107,651 shares of the company’s stock valued at $2,589,000 after buying an additional 14,205 shares during the last quarter. Finally, Trellus Management Company LLC acquired a new stake in Surmodics during the first quarter valued at about $216,000. Institutional investors and hedge funds own 84.79% of the company’s stock.
Surmodics, Inc. (SRDX) traded up 1.22% during mid-day trading on Monday, hitting $24.90. 7,422 shares of the stock were exchanged. Surmodics, Inc. has a 52 week low of $21.90 and a 52 week high of $30.75. The firm has a market capitalization of $326.41 million, a price-to-earnings ratio of 54.25 and a beta of 0.88. The company’s 50-day moving average price is $26.93 and its 200 day moving average price is $24.78.
Surmodics (NASDAQ:SRDX) last posted its earnings results on Thursday, August 3rd. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Surmodics had a net margin of 8.66% and a return on equity of 7.28%. The firm had revenue of $17.80 million for the quarter, compared to the consensus estimate of $15.98 million. During the same period in the previous year, the firm posted $0.37 EPS. The business’s quarterly revenue was down 11.0% on a year-over-year basis. Equities research analysts expect that Surmodics, Inc. will post $0.27 EPS for the current year.
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Several analysts have issued reports on SRDX shares. Zacks Investment Research lowered shares of Surmodics from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Aegis started coverage on shares of Surmodics in a research report on Tuesday, June 27th. They set a “buy” rating for the company. BidaskClub lowered shares of Surmodics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Lake Street Capital started coverage on shares of Surmodics in a research report on Friday, July 14th. They set a “buy” rating and a $40.00 price target for the company. Finally, ValuEngine lowered shares of Surmodics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $34.33.
In related news, CEO Gary R. Maharaj sold 2,702 shares of Surmodics stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $25.09, for a total transaction of $67,793.18. Following the completion of the transaction, the chief executive officer now directly owns 136,807 shares of the company’s stock, valued at approximately $3,432,487.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary R. Maharaj sold 5,000 shares of Surmodics stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $25.75, for a total transaction of $128,750.00. Following the transaction, the chief executive officer now directly owns 126,807 shares of the company’s stock, valued at $3,265,280.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,928 shares of company stock worth $392,469. Insiders own 6.40% of the company’s stock.
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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