Renaissance Technologies LLC Has $28.27 Million Position in Surmodics, Inc. (SRDX)
Renaissance Technologies LLC increased its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 0.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,004,338 shares of the company’s stock after acquiring an additional 1,617 shares during the period. Renaissance Technologies LLC owned about 7.57% of Surmodics worth $28,272,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SRDX. BNP Paribas Arbitrage SA raised its holdings in Surmodics by 66.1% during the second quarter. BNP Paribas Arbitrage SA now owns 4,270 shares of the company’s stock worth $120,000 after acquiring an additional 1,700 shares in the last quarter. Thrivent Financial For Lutherans bought a new stake in Surmodics during the second quarter worth about $226,000. Nationwide Fund Advisors raised its holdings in Surmodics by 15.8% during the second quarter. Nationwide Fund Advisors now owns 8,427 shares of the company’s stock worth $237,000 after acquiring an additional 1,149 shares in the last quarter. Texas Permanent School Fund raised its holdings in Surmodics by 0.9% during the second quarter. Texas Permanent School Fund now owns 9,693 shares of the company’s stock worth $273,000 after acquiring an additional 88 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its holdings in Surmodics by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 12,786 shares of the company’s stock worth $308,000 after acquiring an additional 1,930 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.
Several research firms recently issued reports on SRDX. Lake Street Capital began coverage on Surmodics in a report on Friday, July 14th. They set a “buy” rating and a $40.00 target price on the stock. ValuEngine upgraded Surmodics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Aegis began coverage on Surmodics in a report on Tuesday, June 27th. They set a “buy” rating on the stock. Finally, BidaskClub upgraded Surmodics from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $40.00.
Shares of Surmodics, Inc. (NASDAQ:SRDX) opened at 31.85 on Friday. The company has a market cap of $420.64 million, a price-to-earnings ratio of 41.91 and a beta of 0.86. Surmodics, Inc. has a 12-month low of $21.90 and a 12-month high of $32.80. The company’s 50-day moving average price is $28.36 and its 200 day moving average price is $25.76.
Surmodics (NASDAQ:SRDX) last posted its earnings results on Thursday, August 3rd. The company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $15.98 million. During the same quarter last year, the firm earned $0.37 EPS. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. Equities analysts predict that Surmodics, Inc. will post $0.31 earnings per share for the current year.
In other Surmodics news, VP Joseph J. Stich sold 1,000 shares of Surmodics stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $27.28, for a total transaction of $27,280.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary R. Maharaj sold 5,000 shares of Surmodics stock in a transaction that occurred on 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 in the company, valued at approximately $3,265,280.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,801 shares of company stock worth $178,338. Insiders own 6.40% of the company’s stock.
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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