Hillsdale Investment Management Inc. acquired a new position in shares of SurModics, Inc. (NASDAQ:SRDX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 21,010 shares of the company’s stock, valued at approximately $1,568,000. Hillsdale Investment Management Inc. owned 0.16% of SurModics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SRDX. Bank of New York Mellon Corp boosted its position in shares of SurModics by 5.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 164,535 shares of the company’s stock worth $12,284,000 after purchasing an additional 8,912 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of SurModics in the 3rd quarter worth $13,437,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of SurModics in the 3rd quarter worth $238,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of SurModics by 77.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 3,198 shares of the company’s stock worth $239,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of SurModics by 15.7% in the 3rd quarter. Prudential Financial Inc. now owns 58,603 shares of the company’s stock worth $4,374,000 after purchasing an additional 7,959 shares in the last quarter. Institutional investors own 86.01% of the company’s stock.

A number of analysts have recently weighed in on SRDX shares. Needham & Company LLC reissued a “buy” rating and issued a $74.00 price objective on shares of SurModics in a research report on Monday, August 6th. Barrington Research raised their price objective on SurModics to $73.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 7th. BidaskClub raised SurModics from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Zacks Investment Research reaffirmed a “hold” rating on shares of SurModics in a research report on Friday. Finally, Lake Street Capital lifted their price target on SurModics to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SurModics currently has an average rating of “Buy” and an average target price of $71.75.

In other SurModics news, CEO Gary R. Maharaj sold 5,000 shares of SurModics stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $62.21, for a total transaction of $311,050.00. Following the completion of the sale, the chief executive officer now owns 166,086 shares of the company’s stock, valued at approximately $10,332,210.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Gregg S. Sutton sold 14,824 shares of SurModics stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $74.14, for a total value of $1,099,051.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,824 shares of company stock valued at $1,537,641. 7.70% of the stock is currently owned by insiders.

Shares of SRDX opened at $56.83 on Tuesday. SurModics, Inc. has a one year low of $25.00 and a one year high of $82.35. The stock has a market cap of $794.29 million, a price-to-earnings ratio of 121.41, a PEG ratio of 74.36 and a beta of 0.90.

SurModics (NASDAQ:SRDX) last issued its quarterly earnings results on Friday, November 9th. The company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. SurModics had a positive return on equity of 6.12% and a negative net margin of 5.48%. The company had revenue of $23.04 million during the quarter, compared to analysts’ expectations of $22.54 million. Equities analysts forecast that SurModics, Inc. will post 0.08 earnings per share for the current year.

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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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