Surmodics, Inc. (NASDAQ:SRDX) Shares Acquired by State Street Corp

State Street Corp increased its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 19.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 374,068 shares of the company’s stock after purchasing an additional 60,240 shares during the period. State Street Corp owned 2.62% of Surmodics worth $14,506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings in shares of Surmodics by 5.0% in the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock worth $25,499,000 after acquiring an additional 28,990 shares during the last quarter. Gabelli Funds LLC lifted its stake in shares of Surmodics by 393.7% during the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares during the period. Gardner Lewis Asset Management L P acquired a new stake in Surmodics in the 2nd quarter worth about $8,531,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Surmodics by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock worth $4,511,000 after buying an additional 1,491 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new position in Surmodics during the third quarter valued at approximately $3,430,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. StockNews.com began coverage on Surmodics in a research note on Wednesday. They set a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Surmodics has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Price Performance

Surmodics stock opened at $39.68 on Wednesday. Surmodics, Inc. has a 1 year low of $25.17 and a 1 year high of $42.44. The business has a 50-day moving average of $38.96 and a 200-day moving average of $39.93. The firm has a market capitalization of $568.46 million, a P/E ratio of -48.99 and a beta of 1.22. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25.

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

Insider Transactions at Surmodics

In related news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction 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 transaction, the chief financial officer now owns 70,350 shares of the company’s stock, valued at $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.90% of the stock is currently owned by 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).