Neuburgh Advisers LLC grew its stake in shares of SurModics, Inc. (NASDAQ:SRDX) by 57.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,870 shares of the company’s stock after acquiring an additional 680 shares during the quarter. Neuburgh Advisers LLC’s holdings in SurModics were worth $81,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of SRDX. Trigran Investments Inc. increased its holdings in shares of SurModics by 15.1% during the second quarter. Trigran Investments Inc. now owns 927,168 shares of the company’s stock valued at $40,023,000 after acquiring an additional 121,910 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of SurModics by 54.8% during the first quarter. Janus Henderson Group PLC now owns 325,885 shares of the company’s stock valued at $14,169,000 after acquiring an additional 115,389 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of SurModics by 1,185.2% during the second quarter. SG Americas Securities LLC now owns 65,852 shares of the company’s stock valued at $2,843,000 after acquiring an additional 60,728 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of SurModics by 112.9% during the second quarter. Panagora Asset Management Inc. now owns 92,942 shares of the company’s stock valued at $4,012,000 after acquiring an additional 49,290 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of SurModics by 4.8% during the first quarter. Royce & Associates LP now owns 331,178 shares of the company’s stock valued at $14,400,000 after acquiring an additional 15,109 shares in the last quarter. Hedge funds and other institutional investors own 89.45% of the company’s stock.
Several equities research analysts recently commented on SRDX shares. BidaskClub cut SurModics from a “hold” rating to a “sell” rating in a research report on Monday. ValuEngine raised SurModics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $68.00 price objective (up from $65.00) on shares of SurModics in a research report on Thursday, August 1st. Finally, Zacks Investment Research cut SurModics from a “buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. SurModics currently has an average rating of “Buy” and a consensus price target of $62.00.
SurModics (NASDAQ:SRDX) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.05 by $0.10. The company had revenue of $24.34 million for the quarter, compared to analysts’ expectations of $22.76 million. SurModics had a return on equity of 4.87% and a net margin of 2.48%. Research analysts expect that SurModics, Inc. will post 0.69 EPS for the current year.
In other SurModics news, CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.66, for a total value of $213,300.00. Following the transaction, the chief executive officer now directly owns 150,235 shares of the company’s stock, valued at $6,409,025.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph J. Stich sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $47.00, for a total value of $94,000.00. Following the completion of the transaction, the vice president now directly owns 50,637 shares in the company, valued at $2,379,939. The disclosure for this sale can be found here. Insiders sold 17,000 shares of company stock worth $769,550 over the last three months. Insiders own 7.70% of the company’s stock.
Surmodics, Inc, together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and internationally. The company operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment designs, develops, and manufactures interventional medical devices primarily for the peripheral vascular market; and 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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