State Board of Administration of Florida Retirement System maintained its position in shares of Surmodics, Inc. (NASDAQ:SRDX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,922 shares of the company’s stock at the end of the first quarter. State Board of Administration of Florida Retirement System owned 0.17% of Surmodics worth $551,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Surmodics by 10.8% in the fourth quarter. State Street Corp now owns 313,462 shares of the company’s stock worth $7,962,000 after buying an additional 30,557 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Surmodics by 21.2% in the fourth quarter. Systematic Financial Management LP now owns 50,765 shares of the company’s stock worth $1,289,000 after buying an additional 8,890 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Surmodics during the fourth quarter worth approximately $937,000. Two Sigma Investments LP increased its position in shares of Surmodics by 13.4% in the fourth quarter. Two Sigma Investments LP now owns 52,248 shares of the company’s stock worth $1,327,000 after buying an additional 6,192 shares during the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of Surmodics by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 47,962 shares of the company’s stock worth $1,218,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.
Surmodics, Inc. (NASDAQ:SRDX) opened at 25.25 on Tuesday. Surmodics, Inc. has a 1-year low of $21.90 and a 1-year high of $30.75. The firm has a 50-day moving average of $23.84 and a 200 day moving average of $24.31. The firm has a market cap of $335.22 million, a P/E ratio of 35.66 and a beta of 1.04.
Surmodics (NASDAQ:SRDX) last released its earnings results on Thursday, April 27th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $17.50 million for the quarter, compared to analyst estimates of $16.21 million. Surmodics had a net margin of 12.88% and a return on equity of 10.95%. Surmodics’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 earnings per share. On average, analysts predict that Surmodics, Inc. will post $0.15 EPS for the current year.
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Separately, Zacks Investment Research downgraded shares of Surmodics from a “hold” rating to a “sell” rating in a research note on Monday, May 1st.
In related news, VP Joseph J. Stich sold 1,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $25.31, for a total transaction of $25,310.00. Following the completion of the transaction, the vice president now directly owns 40,672 shares in the company, valued at approximately $1,029,408.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Bryan K. Phillips sold 1,226 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $24.85, for a total transaction of $30,466.10. Following the transaction, the senior vice president now owns 29,208 shares of the company’s stock, valued at $725,818.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,512 shares of company stock valued at $138,169. Corporate insiders own 6.40% of the company’s stock.
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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