Morgan Stanley increased its stake in shares of SurModics, Inc. (NASDAQ:SRDX) by 8.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,123 shares of the company’s stock after buying an additional 7,167 shares during the period. Morgan Stanley owned about 0.67% of SurModics worth $2,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in SurModics by 4.0% in the first quarter. Principal Financial Group Inc. now owns 102,916 shares of the company’s stock valued at $2,475,000 after buying an additional 3,978 shares during the last quarter. State of Tennessee Treasury Department boosted its position in SurModics by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 12,786 shares of the company’s stock valued at $308,000 after buying an additional 1,930 shares during the last quarter. Trigran Investments Inc. boosted its position in SurModics by 52.4% in the first quarter. Trigran Investments Inc. now owns 1,070,499 shares of the company’s stock valued at $25,745,000 after buying an additional 368,212 shares during the last quarter. Bank of New York Mellon Corp boosted its position in SurModics by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 191,688 shares of the company’s stock valued at $4,609,000 after buying an additional 6,327 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in SurModics by 2.6% in the first quarter. Prudential Financial Inc. now owns 49,692 shares of the company’s stock valued at $1,195,000 after buying an additional 1,240 shares during the last quarter. 84.79% of the stock is owned by hedge funds and other institutional investors.

Shares of SurModics, Inc. (SRDX) traded up 0.40% during mid-day trading on Friday, reaching $25.40. 16,229 shares of the company’s stock were exchanged. The company has a market capitalization of $332.97 million, a PE ratio of 55.34 and a beta of 0.88. SurModics, Inc. has a one year low of $21.90 and a one year high of $30.75. The company’s 50-day moving average price is $26.36 and its 200-day moving average price is $24.83.

SurModics (NASDAQ:SRDX) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. SurModics had a return on equity of 2.64% and a net margin of 4.05%. The firm had revenue of $17.80 million during the quarter, compared to the consensus estimate of $15.98 million. During the same period last year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, equities analysts expect that SurModics, Inc. will post $0.31 earnings per share for the current year.

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Several research analysts have recently weighed in on SRDX shares. BidaskClub raised shares of SurModics from a “sell” rating to a “hold” rating in a report on Wednesday. Aegis started coverage on shares of SurModics in a report on Tuesday, June 27th. They set a “buy” rating for the company. Zacks Investment Research cut shares of SurModics from a “hold” rating to a “sell” rating in a report on Monday, May 1st. ValuEngine cut shares of SurModics from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Lake Street Capital started coverage on shares of SurModics in a report on Friday, July 14th. They set a “buy” rating and a $40.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.33.

In other SurModics news, VP Joseph J. Stich sold 1,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $25.31, for a total value of $25,310.00. Following the completion of the transaction, the vice president now owns 40,672 shares in the company, valued at $1,029,408.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary R. Maharaj sold 2,702 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $25.09, for a total value of $67,793.18. Following the completion of the transaction, the chief executive officer now owns 136,807 shares of the company’s stock, valued at approximately $3,432,487.63. The disclosure for this sale can be found here. Insiders sold 14,928 shares of company stock valued at $392,469 in the last quarter. 6.40% of the stock is currently owned by company insiders.

About SurModics

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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Institutional Ownership by Quarter for SurModics (NASDAQ:SRDX)

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