Citadel Advisors LLC Decreases Position in Surmodics, Inc. (SRDX)

Citadel Advisors LLC lowered its stake in Surmodics, Inc. (NASDAQ:SRDX) by 9.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 29,931 shares of the company’s stock after selling 3,194 shares during the period. Citadel Advisors LLC owned approximately 0.23% of Surmodics worth $843,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Parametric Portfolio Associates LLC grew its stake in Surmodics by 4.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 22,290 shares of the company’s stock valued at $627,000 after buying an additional 852 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Surmodics by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 717,091 shares of the company’s stock worth $20,187,000 after purchasing an additional 22,977 shares in the last quarter. Northern Trust Corp grew its position in shares of Surmodics by 4.6% during the 2nd quarter. Northern Trust Corp now owns 186,125 shares of the company’s stock worth $5,239,000 after purchasing an additional 8,231 shares in the last quarter. Thrivent Financial For Lutherans acquired a new position in shares of Surmodics during the 2nd quarter worth approximately $226,000. Finally, Nationwide Fund Advisors grew its position in shares of Surmodics by 15.8% during the 2nd quarter. Nationwide Fund Advisors now owns 8,427 shares of the company’s stock worth $237,000 after purchasing an additional 1,149 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Shares of Surmodics, Inc. (NASDAQ:SRDX) opened at 31.85 on Friday. The stock’s 50 day moving average is $28.36 and its 200-day moving average is $25.76. The company has a market cap of $420.64 million, a P/E ratio of 41.91 and a beta of 0.86. Surmodics, Inc. has a one year low of $21.90 and a one year high of $32.80.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.10. The company had revenue of $17.80 million during the quarter, compared to analysts’ expectations of $15.98 million. Surmodics had a net margin of 8.66% and a return on equity of 7.28%. Surmodics’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. Equities research analysts forecast that Surmodics, Inc. will post $0.31 earnings per share for the current year.

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A number of brokerages have issued reports on SRDX. ValuEngine lowered shares of Surmodics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub upgraded shares of Surmodics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Lake Street Capital began coverage on shares of Surmodics in a research report on Friday, July 14th. They set a “buy” rating and a $40.00 target price on the stock. Finally, Aegis began coverage on shares of Surmodics in a research report on Tuesday, June 27th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Surmodics currently has an average rating of “Hold” and a consensus target price of $40.00.

In related news, VP Joseph J. Stich sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $27.28, for a total transaction of $27,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary R. Maharaj sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $25.75, for a total transaction of $128,750.00. Following the transaction, the chief executive officer now directly owns 126,807 shares of the company’s stock, valued at approximately $3,265,280.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,801 shares of company stock valued at $178,338. 6.40% of the stock is owned by corporate insiders.

Surmodics Profile

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.

Institutional Ownership by Quarter for Surmodics (NASDAQ:SRDX)

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