BlackRock Inc. Sells 83,261 Shares of Surmodics, Inc. (NASDAQ:SRDX)

BlackRock Inc. reduced its position in Surmodics, Inc. (NASDAQ:SRDX) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,211,732 shares of the company’s stock after selling 83,261 shares during the quarter. BlackRock Inc. owned 15.94% of Surmodics worth $119,986,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. raised its holdings in Surmodics by 22.7% in the first quarter. Citigroup Inc. now owns 4,255 shares of the company’s stock worth $239,000 after purchasing an additional 786 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Surmodics by 78.6% in the second quarter. BNP Paribas Arbitrage SA now owns 4,924 shares of the company’s stock worth $267,000 after purchasing an additional 2,167 shares in the last quarter. Martingale Asset Management L P raised its holdings in Surmodics by 11.6% in the first quarter. Martingale Asset Management L P now owns 6,707 shares of the company’s stock worth $377,000 after purchasing an additional 697 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Surmodics by 6.2% in the second quarter. Victory Capital Management Inc. now owns 7,268 shares of the company’s stock worth $394,000 after purchasing an additional 425 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Surmodics by 12.0% in the first quarter. Bank of Montreal Can now owns 8,494 shares of the company’s stock worth $489,000 after purchasing an additional 907 shares in the last quarter. Institutional investors and hedge funds own 89.80% of the company’s stock.

Shares of SRDX stock opened at $54.47 on Thursday. Surmodics, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $62.27. The firm has a market capitalization of $755.61 million, a price-to-earnings ratio of 544.75, a PEG ratio of 25.80 and a beta of 1.02. The stock’s 50-day simple moving average is $56.19 and its 200-day simple moving average is $55.19.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, August 4th. The company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.06). The business had revenue of $23.87 million for the quarter, compared to analysts’ expectations of $23.95 million. Surmodics had a return on equity of 3.03% and a net margin of 1.52%. As a group, equities analysts expect that Surmodics, Inc. will post 0.22 earnings per share for the current year.

In other Surmodics news, VP Charles W. Olson sold 1,292 shares of the company’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $59.75, for a total value of $77,197.00. Following the sale, the vice president now owns 39,292 shares in the company, valued at approximately $2,347,697. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John D. Manders sold 2,608 shares of the company’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $53.35, for a total value of $139,136.80. Following the completion of the sale, the insider now owns 5,716 shares in the company, valued at approximately $304,948.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,400 shares of company stock worth $695,714. 7.10% of the stock is owned by insiders.

Separately, Needham & Company LLC boosted their price target on Surmodics from $68.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, September 8th.

Surmodics Profile

SurModics, Inc engages in the provision of surface modification technologies for intravascular medical devices and chemical components for in vitro diagnostic immunoassay tests and microarrays. It also develops and commercializes medical devices that are designed to address unmet clinical needs and engineered to the most demanding requirements.

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Institutional Ownership by Quarter for Surmodics (NASDAQ:SRDX)

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