Murphy Pohlad Asset Management LLC raised its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,500 shares of the company’s stock after buying an additional 350 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Surmodics were worth $1,815,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SRDX. Wellington Management Group LLP increased its position in shares of Surmodics by 8.7% in the first quarter. Wellington Management Group LLP now owns 1,174,839 shares of the company’s stock worth $28,255,000 after buying an additional 94,388 shares in the last quarter. Trigran Investments Inc. increased its position in shares of Surmodics by 52.4% in the first quarter. Trigran Investments Inc. now owns 1,070,499 shares of the company’s stock worth $25,745,000 after buying an additional 368,212 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Surmodics by 4.0% in the first quarter. Renaissance Technologies LLC now owns 1,002,721 shares of the company’s stock worth $24,115,000 after buying an additional 38,683 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Surmodics by 4.6% in the first quarter. Vanguard Group Inc. now owns 694,114 shares of the company’s stock worth $16,693,000 after buying an additional 30,518 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Surmodics by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 600,421 shares of the company’s stock worth $14,440,000 after buying an additional 12,497 shares in the last quarter. Institutional investors own 84.79% of the company’s stock.

Surmodics, Inc. (NASDAQ:SRDX) opened at 25.45 on Wednesday. Surmodics, Inc. has a 12-month low of $21.90 and a 12-month high of $30.75. The company has a market cap of $333.62 million, a P/E ratio of 55.45 and a beta of 0.88. The firm has a 50-day moving average price of $26.93 and a 200-day moving average price of $24.79.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.10. Surmodics had a return on equity of 7.28% and a net margin of 8.66%. The company had revenue of $17.80 million during the quarter, compared to analysts’ expectations of $15.98 million. During the same quarter in the previous year, the business earned $0.37 EPS. Surmodics’s revenue was down 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Surmodics, Inc. will post $0.27 earnings per share for the current fiscal year.

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SRDX has been the subject of a number of recent analyst reports. BidaskClub downgraded Surmodics from a “hold” rating to a “sell” rating in a report on Friday, August 11th. ValuEngine downgraded Surmodics from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded Surmodics from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Aegis initiated coverage on Surmodics in a report on Tuesday, June 27th. They set a “buy” rating for the company. Finally, Lake Street Capital initiated coverage on Surmodics in a report on Friday, July 14th. They set a “buy” rating and a $40.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $34.33.

In related news, CEO Gary R. Maharaj sold 5,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 126,807 shares in the company, valued at approximately $3,265,280.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joseph J. Stich sold 1,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $25.31, for a total value of $25,310.00. Following the transaction, the vice president now owns 40,672 shares of the company’s stock, valued at approximately $1,029,408.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,928 shares of company stock valued at $392,469. 6.40% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Surmodics (NASDAQ:SRDX)

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