Surmodics, Inc. (SRDX) Stake Lessened by Wells Fargo & Company MN
Wells Fargo & Company MN decreased its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,837 shares of the company’s stock after selling 793 shares during the period. Wells Fargo & Company MN owned approximately 0.14% of Surmodics worth $530,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Royce & Associates LP increased its stake in shares of Surmodics by 1.3% in the 2nd quarter. Royce & Associates LP now owns 372,792 shares of the company’s stock valued at $10,494,000 after purchasing an additional 4,700 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Surmodics in the 2nd quarter valued at $751,000. BNP Paribas Arbitrage SA increased its stake in shares of Surmodics by 66.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,270 shares of the company’s stock valued at $120,000 after purchasing an additional 1,700 shares during the last quarter. Murphy Pohlad Asset Management LLC increased its stake in shares of Surmodics by 0.5% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 64,500 shares of the company’s stock valued at $1,815,000 after purchasing an additional 350 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Surmodics by 8.7% in the 2nd quarter. Legal & General Group Plc now owns 24,739 shares of the company’s stock valued at $697,000 after purchasing an additional 1,985 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.
Several brokerages have recently issued reports on SRDX. ValuEngine upgraded Surmodics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded Surmodics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $40.00.
In related news, VP Joseph J. Stich sold 1,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was 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. Insiders own 6.40% of the company’s stock.
Shares of Surmodics, Inc. (NASDAQ SRDX) opened at $30.00 on Friday. The firm has a market capitalization of $396.02, a price-to-earnings ratio of 58.53 and a beta of 0.78. Surmodics, Inc. has a 52-week low of $21.90 and a 52-week high of $32.80.
Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.19. The business had revenue of $20.06 million for the quarter, compared to analyst estimates of $16.98 million. Surmodics had a return on equity of 6.18% and a net margin of 5.37%. equities analysts forecast that Surmodics, Inc. will post -0.28 earnings per share for the current year.
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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