Menta Capital LLC cut its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 9.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,113 shares of the company’s stock after selling 6,200 shares during the quarter. Menta Capital LLC owned about 0.46% of Surmodics worth $1,720,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Thrivent Financial For Lutherans acquired a new position in Surmodics in the second quarter valued at $226,000. Nationwide Fund Advisors boosted its holdings in shares of Surmodics by 15.8% in the second quarter. Nationwide Fund Advisors now owns 8,427 shares of the company’s stock valued at $237,000 after acquiring an additional 1,149 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Surmodics by 10.7% in the second quarter. TIAA CREF Investment Management LLC now owns 58,929 shares of the company’s stock valued at $1,659,000 after acquiring an additional 5,678 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of Surmodics by 2.7% in the second quarter. Teachers Advisors LLC now owns 27,013 shares of the company’s stock valued at $760,000 after acquiring an additional 708 shares in the last quarter. Finally, Trigran Investments Inc. boosted its holdings in shares of Surmodics by 17.6% in the second quarter. Trigran Investments Inc. now owns 1,258,613 shares of the company’s stock valued at $35,430,000 after acquiring an additional 188,114 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.
Surmodics, Inc. (NASDAQ:SRDX) opened at 29.85 on Friday. Surmodics, Inc. has a 1-year low of $21.90 and a 1-year high of $30.75. The firm’s 50-day moving average is $26.22 and its 200-day moving average is $25.14. The company has a market capitalization of $391.30 million, a P/E ratio of 65.03 and a beta of 0.85.
Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.10. The business had revenue of $17.80 million for the quarter, compared to the consensus estimate of $15.98 million. Surmodics had a net margin of 8.66% and a return on equity of 7.28%. Surmodics’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the company posted $0.37 earnings per share. Equities research analysts predict that Surmodics, Inc. will post $0.31 EPS for the current year.
In other news, CEO Gary R. Maharaj sold 5,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $25.75, for a total value of $128,750.00. Following the sale, the chief executive officer now owns 126,807 shares in the company, valued at approximately $3,265,280.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph J. Stich sold 1,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $27.28, for a total transaction of $27,280.00. The disclosure for this sale can be found here. Insiders have sold 11,801 shares of company stock worth $318,488 in the last quarter. Corporate insiders own 6.40% of the company’s stock.
A number of analysts recently commented on the stock. Aegis assumed coverage on shares of Surmodics in a report on Tuesday, June 27th. They set a “buy” rating on the stock. BidaskClub downgraded shares of Surmodics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Lake Street Capital assumed coverage on shares of Surmodics in a report on Friday, July 14th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, ValuEngine lowered shares of Surmodics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.33.
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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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