Perkins Capital Management Inc. acquired a new stake in SurModics Inc. (NASDAQ:SRDX) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 43,750 shares of the company’s stock, valued at approximately $1,316,000. SurModics makes up approximately 1.3% of Perkins Capital Management Inc.’s holdings, making the stock its 19th largest position. Perkins Capital Management Inc. owned 0.34% of SurModics as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of SurModics by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 400,974 shares of the company’s stock valued at $12,065,000 after buying an additional 25,249 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of SurModics by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 185,601 shares of the company’s stock valued at $5,585,000 after buying an additional 1,632 shares in the last quarter. Arizona State Retirement System acquired a new stake in shares of SurModics during the third quarter valued at about $204,000. First Trust Advisors LP acquired a new stake in shares of SurModics during the third quarter valued at about $541,000. Finally, Meristem LLP acquired a new stake in shares of SurModics during the third quarter valued at about $247,000. 88.55% of the stock is owned by hedge funds and other institutional investors.
Shares of SurModics Inc. (NASDAQ:SRDX) traded down 0.99% on Monday, reaching $25.10. The company’s stock had a trading volume of 2,974 shares. The stock has a market cap of $328.51 million, a PE ratio of 33.03 and a beta of 0.98. SurModics Inc. has a 1-year low of $17.45 and a 1-year high of $30.75. The company’s 50 day moving average is $26.76 and its 200-day moving average is $26.16.
SurModics (NASDAQ:SRDX) last released its earnings results on Wednesday, November 16th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.17. The company earned $18.20 million during the quarter, compared to analysts’ expectations of $16.09 million. SurModics had a return on equity of 15.98% and a net margin of 13.99%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. On average, equities analysts predict that SurModics Inc. will post $1.04 earnings per share for the current fiscal year.
Several brokerages recently issued reports on SRDX. Barrington Research downgraded SurModics from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Zacks Investment Research downgraded SurModics from a “buy” rating to a “hold” rating in a research note on Thursday, October 27th. Finally, Sidoti downgraded SurModics from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Thursday, October 6th.
In related news, CEO Gary R. Maharaj sold 5,000 shares of SurModics stock in a transaction on Monday, November 7th. The stock was sold at an average price of $25.22, for a total transaction of $126,100.00. Following the completion of the sale, the chief executive officer now directly owns 130,207 shares of the company’s stock, valued at $3,283,820.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.20% of the stock is owned by insiders.
SurModics Company Profile
SurModics, Inc is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company is focused on to transform its medical device business from being a provider of coating technologies to offering whole product solutions to medical device customers.