SurModics, Inc. (SRDX) Position Cut by Foundry Partners LLC
Foundry Partners LLC cut its position in shares of SurModics, Inc. (NASDAQ:SRDX) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,250 shares of the company’s stock after selling 3,325 shares during the period. Foundry Partners LLC’s holdings in SurModics were worth $2,387,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in SurModics during the third quarter worth $116,000. Macquarie Group Ltd. acquired a new position in SurModics during the third quarter worth $123,000. Municipal Employees Retirement System of Michigan raised 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 worth $154,000 after acquiring an additional 1,850 shares during the period. Condor Capital Management acquired a new position in SurModics during the third quarter worth $208,000. Finally, BNP Paribas Arbitrage SA raised 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 worth $208,000 after acquiring an additional 2,432 shares during the period. 84.95% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of SurModics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. BidaskClub upgraded shares of SurModics from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. SurModics has a consensus rating of “Hold” and an average price target of $40.00.
SurModics (NASDAQ:SRDX) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.19. The company had revenue of $20.06 million during the quarter, compared to analysts’ expectations of $16.98 million. SurModics had a net margin of 5.37% and a return on equity of 6.18%. research analysts forecast that SurModics, Inc. will post -0.44 EPS for the current fiscal year.
In other SurModics news, VP Joseph J. Stich sold 1,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $30.18, for a total transaction of $30,180.00. Following the completion of the transaction, the vice president now directly owns 46,450 shares in the company, valued at $1,401,861. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.70% of the company’s stock.
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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