Disciplined Growth Investors Inc. MN lessened its stake in shares of SurModics, Inc. (NASDAQ:SRDX) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,854 shares of the company’s stock after selling 2,201 shares during the quarter. Disciplined Growth Investors Inc. MN owned 1.35% of SurModics worth $5,008,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in SurModics by 2.8% during the fourth quarter. BlackRock Inc. now owns 1,775,637 shares of the company’s stock worth $49,717,000 after buying an additional 48,184 shares during the period. Trigran Investments Inc. boosted its stake in shares of SurModics by 2.0% in the third quarter. Trigran Investments Inc. now owns 1,283,578 shares of the company’s stock valued at $39,791,000 after purchasing an additional 24,965 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of SurModics by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 634,698 shares of the company’s stock valued at $19,676,000 after purchasing an additional 3,921 shares during the period. State Street Corp boosted its stake in shares of SurModics by 0.4% in the second quarter. State Street Corp now owns 326,497 shares of the company’s stock valued at $9,190,000 after purchasing an additional 1,401 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of SurModics by 10.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 141,473 shares of the company’s stock valued at $3,961,000 after purchasing an additional 13,908 shares during the period. 84.18% of the stock is owned by institutional investors.
SRDX has been the subject of several recent research reports. BidaskClub lowered shares of SurModics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised shares of SurModics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Needham & Company LLC initiated coverage on shares of SurModics in a research note on Tuesday, February 27th. They issued a “buy” rating and a $42.00 price objective for the company. Lake Street Capital reissued a “buy” rating and issued a $38.00 price objective (up previously from $35.00) on shares of SurModics in a research note on Wednesday, February 28th. Finally, Barrington Research raised shares of SurModics from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. SurModics currently has an average rating of “Buy” and an average target price of $37.00.
In related news, VP Joseph J. Stich sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $33.53, for a total value of $33,530.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 7.70% of the stock is owned by company insiders.
Shares of SRDX stock opened at $37.15 on Wednesday. The firm has a market cap of $491.57, a P/E ratio of 88.69 and a beta of 0.75. SurModics, Inc. has a 1-year low of $21.90 and a 1-year high of $37.70.
SurModics (NASDAQ:SRDX) last issued its earnings results on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.15. The firm had revenue of $17.01 million for the quarter, compared to analysts’ expectations of $17.69 million. SurModics had a net margin of 0.10% and a return on equity of 5.04%. research analysts predict that SurModics, Inc. will post -0.05 earnings per share for the current fiscal year.
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SurModics Company Profile
Surmodics, Inc, together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and Ireland. It operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment offers surface modification coating technologies to enhance access, deliverability, and predictable deployment of medical devices, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device for the coronary, peripheral, neuro-vascular, urology, and other markets.
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