Gabelli Funds LLC held its position in SurModics, Inc. (NASDAQ:SRDX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,224 shares of the company’s stock at the end of the first quarter. Gabelli Funds LLC owned about 0.97% of SurModics worth $3,084,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Comerica Bank raised its stake in SurModics by 5.1% in the first quarter. Comerica Bank now owns 14,586 shares of the company’s stock valued at $343,000 after buying an additional 712 shares during the last quarter. Bank of New York Mellon Corp raised its stake in SurModics by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 191,688 shares of the company’s stock valued at $4,609,000 after buying an additional 6,327 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in SurModics by 17.0% in the first quarter. Wedge Capital Management L L P NC now owns 12,048 shares of the company’s stock valued at $290,000 after buying an additional 1,750 shares during the last quarter. Trellus Management Company LLC purchased a new stake in SurModics during the first quarter valued at approximately $216,000. Finally, Rice Hall James & Associates LLC raised its stake in SurModics by 15.2% in the first quarter. Rice Hall James & Associates LLC now owns 107,651 shares of the company’s stock valued at $2,589,000 after buying an additional 14,205 shares during the last quarter. 85.59% of the stock is currently owned by institutional investors and hedge funds.
SurModics, Inc. (NASDAQ:SRDX) traded up 0.43% during mid-day trading on Wednesday, hitting $23.15. 51,047 shares of the stock traded hands. SurModics, Inc. has a 12 month low of $21.70 and a 12 month high of $30.75. The stock’s 50 day moving average is $23.29 and its 200-day moving average is $24.44. The company has a market cap of $307.34 million, a price-to-earnings ratio of 32.70 and a beta of 1.03.
SurModics (NASDAQ:SRDX) last announced its earnings results on Thursday, April 27th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.02. SurModics had a return on equity of 13.14% and a net margin of 13.46%. The firm had revenue of $17.50 million for the quarter, compared to analyst estimates of $16.21 million. During the same quarter last year, the business posted $0.20 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts anticipate that SurModics, Inc. will post $0.25 EPS for the current year.
Separately, Zacks Investment Research lowered shares of SurModics from a “hold” rating to a “sell” rating in a research report on Monday, May 1st.
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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