SurModics, Inc. (SRDX) Stake Raised by Rhumbline Advisers

Rhumbline Advisers increased its holdings in SurModics, Inc. (NASDAQ:SRDX) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,168 shares of the company’s stock after purchasing an additional 3,615 shares during the period. Rhumbline Advisers’ holdings in SurModics were worth $873,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of SurModics in the third quarter valued at $116,000. Macquarie Group Ltd. purchased a new stake in SurModics during the third quarter valued at about $123,000. Municipal Employees Retirement System of Michigan grew its position in SurModics by 59.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 4,980 shares of the company’s stock valued at $154,000 after acquiring an additional 1,850 shares during the period. BNP Paribas Arbitrage SA grew its position in SurModics by 57.0% during the third quarter. BNP Paribas Arbitrage SA now owns 6,702 shares of the company’s stock valued at $208,000 after acquiring an additional 2,432 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in SurModics by 2.4% during the second quarter. The Manufacturers Life Insurance Company now owns 11,312 shares of the company’s stock valued at $318,000 after acquiring an additional 262 shares during the period. 84.18% of the stock is owned by institutional investors and hedge funds.

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In other news, VP Joseph J. Stich sold 1,000 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $33.53, for a total value of $33,530.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is owned by corporate insiders.

SRDX stock opened at $38.05 on Friday. SurModics, Inc. has a 12-month low of $22.35 and a 12-month high of $39.05. The stock has a market cap of $502.13, a price-to-earnings ratio of 74.61 and a beta of 0.75.

SurModics (NASDAQ:SRDX) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.15. SurModics had a return on equity of 5.04% and a net margin of 0.10%. The firm had revenue of $17.01 million during the quarter, compared to the consensus estimate of $17.69 million. equities research analysts forecast that SurModics, Inc. will post -0.05 EPS for the current year.

A number of equities research analysts have issued reports on SRDX shares. BidaskClub downgraded SurModics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised SurModics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Needham & Company LLC started coverage on SurModics in a research report on Tuesday, February 27th. They set a “buy” rating and a $42.00 price target for the company. Lake Street Capital reissued a “buy” rating and set a $38.00 price target (up previously from $35.00) on shares of SurModics in a research report on Wednesday, February 28th. Finally, Barrington Research raised SurModics from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $37.00.

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About SurModics

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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Institutional Ownership by Quarter for SurModics (NASDAQ:SRDX)

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