Invesco Ltd. Decreases Stock Position in SurModics, Inc. (NASDAQ:SRDX)

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Invesco Ltd. cut its holdings in SurModics, Inc. (NASDAQ:SRDX) by 28.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,772 shares of the company’s stock after selling 45,391 shares during the period. Invesco Ltd. owned about 0.83% of SurModics worth $4,825,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SRDX. US Bancorp DE boosted its position in shares of SurModics by 6.6% in the 1st quarter. US Bancorp DE now owns 9,888 shares of the company’s stock worth $430,000 after buying an additional 608 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of SurModics by 1,185.2% in the 2nd quarter. SG Americas Securities LLC now owns 65,852 shares of the company’s stock worth $2,843,000 after buying an additional 60,728 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of SurModics in the 2nd quarter worth about $187,000. Envestnet Asset Management Inc. purchased a new stake in shares of SurModics in the 2nd quarter worth about $206,000. Finally, Swiss National Bank boosted its position in shares of SurModics by 2.5% in the 2nd quarter. Swiss National Bank now owns 25,000 shares of the company’s stock worth $1,079,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Several equities research analysts recently commented on SRDX shares. Zacks Investment Research lowered shares of SurModics from a “buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a research report on Tuesday, July 23rd. BidaskClub lowered shares of SurModics from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and issued a $68.00 price objective (up from $65.00) on shares of SurModics in a research report on Thursday, August 1st. Finally, ValuEngine upgraded shares of SurModics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $62.00.

NASDAQ:SRDX opened at $42.51 on Friday. The firm has a market cap of $573.50 million, a price-to-earnings ratio of 86.76, a price-to-earnings-growth ratio of 7.44 and a beta of 1.08. The company’s 50-day moving average is $45.13 and its two-hundred day moving average is $42.88. SurModics, Inc. has a 12-month low of $38.06 and a 12-month high of $68.84.

SurModics (NASDAQ:SRDX) last released its earnings results on Wednesday, July 31st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.10. The company had revenue of $24.34 million for the quarter, compared to analyst estimates of $22.76 million. SurModics had a net margin of 2.48% and a return on equity of 4.87%. As a group, equities analysts predict that SurModics, Inc. will post 0.69 earnings per share for the current year.

In other SurModics news, VP Joseph J. Stich sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $47.00, for a total value of $94,000.00. Following the transaction, the vice president now directly owns 50,637 shares in the company, valued at approximately $2,379,939. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gary R. Maharaj sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $45.50, for a total transaction of $227,500.00. Following the completion of the transaction, the chief executive officer now owns 132,953 shares in the company, valued at $6,049,361.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock worth $876,390. 7.70% of the stock is owned by insiders.

SurModics Profile

Surmodics, Inc, together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and internationally. The company operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment designs, develops, and manufactures interventional medical devices primarily for the peripheral vascular market; and offers surface modification coating technologies to enhance access, deliverability, and predictable deployment of medical devices, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device for the coronary, peripheral, neuro-vascular, urology, and other markets.

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Institutional Ownership by Quarter for SurModics (NASDAQ:SRDX)

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