Royce & Associates LP Cuts Stake in SurModics, Inc. (SRDX)
Royce & Associates LP lessened its position in shares of SurModics, Inc. (NASDAQ:SRDX) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 345,213 shares of the company’s stock after selling 27,579 shares during the quarter. Royce & Associates LP owned about 2.60% of SurModics worth $10,702,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in SurModics in the third quarter valued at about $116,000. BNP Paribas Arbitrage SA lifted its stake in SurModics by 66.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,270 shares of the company’s stock valued at $120,000 after buying an additional 1,700 shares during the period. Macquarie Group Ltd. acquired a new position in SurModics in the third quarter valued at about $123,000. Municipal Employees Retirement System of Michigan lifted its stake in SurModics by 59.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,980 shares of the company’s stock valued at $154,000 after buying an additional 1,850 shares during the period. Finally, Condor Capital Management bought a new stake in shares of SurModics in the third quarter worth about $208,000. 85.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of SurModics, Inc. (NASDAQ SRDX) opened at $29.30 on Thursday. The stock has a market capitalization of $379.86, a PE ratio of 56.86 and a beta of 0.83. SurModics, Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $34.15.
SurModics (NASDAQ:SRDX) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.19. The business had revenue of $20.06 million during the quarter, compared to the consensus estimate of $16.98 million. SurModics had a return on equity of 6.18% and a net margin of 5.37%. equities analysts forecast that SurModics, Inc. will post -0.44 EPS for the current fiscal year.
SRDX has been the subject of several recent analyst reports. BidaskClub upgraded SurModics from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Zacks Investment Research downgraded SurModics from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Finally, ValuEngine upgraded SurModics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. SurModics has an average rating of “Hold” and an average price target of $40.00.
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SurModics Company Profile
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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