Charles Schwab Investment Management Inc. Increases Position in Surmodics, Inc. (NASDAQ:SRDX)

Charles Schwab Investment Management Inc. grew its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,311 shares of the company’s stock after acquiring an additional 1,491 shares during the period. Charles Schwab Investment Management Inc. owned about 0.82% of Surmodics worth $4,511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Quest Partners LLC grew its stake in shares of Surmodics by 107,100.0% during the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after purchasing an additional 1,071 shares in the last quarter. Hardin Capital Partners LLC purchased a new position in Surmodics during the 2nd quarter worth $206,000. SG Americas Securities LLC purchased a new position in Surmodics during the 3rd quarter worth $220,000. The Manufacturers Life Insurance Company acquired a new position in shares of Surmodics during the 2nd quarter worth $229,000. Finally, Bailard Inc. acquired a new position in shares of Surmodics during the 2nd quarter worth $257,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SRDX shares. StockNews.com started coverage on shares of Surmodics in a research note on Monday, December 9th. They issued a “hold” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Trading Up 0.1 %

Shares of SRDX stock opened at $40.03 on Friday. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44. The firm’s 50-day simple moving average is $38.77 and its 200-day simple moving average is $40.02. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22. The firm has a market cap of $573.47 million, a P/E ratio of -49.42 and a beta of 1.22.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.14. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. The firm had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. As a group, equities analysts forecast that Surmodics, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling at Surmodics

In other news, CFO Timothy J. Arens sold 7,009 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total transaction of $276,434.96. Following the completion of the sale, the chief financial officer now owns 70,350 shares of the company’s stock, valued at approximately $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.90% of the stock is owned by corporate insiders.

Surmodics Company Profile

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).