JPMorgan Chase & Co. decreased its position in shares of SurModics Inc. (NASDAQ:SRDX) by 32.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 375,725 shares of the company’s stock after selling 179,949 shares during the period. JPMorgan Chase & Co. owned 2.88% of SurModics worth $8,823,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY increased its stake in SurModics by 44.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 12,386 shares of the company’s stock worth $228,000 after buying an additional 3,824 shares during the last quarter. Bank of Montreal Can purchased a new stake in SurModics during the second quarter worth $190,000. Gabelli Funds LLC increased its stake in SurModics by 2.4% in the second quarter. Gabelli Funds LLC now owns 128,626 shares of the company’s stock worth $3,020,000 after buying an additional 3,000 shares during the last quarter. Algert Global LLC purchased a new stake in SurModics during the first quarter worth $668,000. Finally, Prudential Financial Inc. increased its stake in SurModics by 0.9% in the first quarter. Prudential Financial Inc. now owns 46,162 shares of the company’s stock worth $850,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 86.42% of the company’s stock.
Shares of SurModics Inc. (NASDAQ:SRDX) traded down 0.17% on Friday, hitting $29.18. The stock had a trading volume of 9,338 shares. The company has a 50 day moving average price of $29.04 and a 200-day moving average price of $24.48. The stock has a market cap of $380.65 million, a PE ratio of 43.62 and a beta of 0.97. SurModics Inc. has a 12 month low of $17.45 and a 12 month high of $30.75.
SurModics (NASDAQ:SRDX) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.25. SurModics had a net margin of 14.45% and a return on equity of 17.11%. The firm earned $19.97 million during the quarter, compared to the consensus estimate of $16.31 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, equities research analysts anticipate that SurModics Inc. will post $1.04 earnings per share for the current year.
A number of equities research analysts have weighed in on SRDX shares. Zacks Investment Research downgraded SurModics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Sidoti downgraded SurModics from a “buy” rating to a “neutral” rating in a research report on Thursday.
In other news, CEO Gary R. Maharaj sold 5,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $29.55, for a total transaction of $147,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan E. Knight sold 1,548 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $28.64, for a total transaction of $44,334.72. The disclosure for this sale can be found here. Insiders own 7.20% of the company’s stock.
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.
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