Murphy Pohlad Asset Management LLC boosted its stake in Surmodics, Inc. (NASDAQ:SRDX) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,500 shares of the company’s stock after buying an additional 350 shares during the period. Murphy Pohlad Asset Management LLC owned 0.49% of Surmodics worth $1,815,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Surmodics by 4.0% in the first quarter. Principal Financial Group Inc. now owns 102,916 shares of the company’s stock valued at $2,475,000 after buying an additional 3,978 shares during the last quarter. Cadence Capital Management LLC raised its position in Surmodics by 4.4% in the first quarter. Cadence Capital Management LLC now owns 20,597 shares of the company’s stock valued at $495,000 after buying an additional 876 shares during the last quarter. Prudential Financial Inc. raised its position in Surmodics by 2.6% in the first quarter. Prudential Financial Inc. now owns 49,692 shares of the company’s stock valued at $1,195,000 after buying an additional 1,240 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new position in Surmodics during the first quarter valued at about $438,000. Finally, State of Tennessee Treasury Department raised its position in Surmodics by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 12,786 shares of the company’s stock valued at $308,000 after buying an additional 1,930 shares during the last quarter. Hedge funds and other institutional investors own 84.79% of the company’s stock.

Shares of Surmodics, Inc. (NASDAQ SRDX) opened at 25.45 on Wednesday. The company has a market cap of $333.62 million, a price-to-earnings ratio of 55.45 and a beta of 0.88. The stock has a 50 day moving average of $26.93 and a 200 day moving average of $24.79. Surmodics, Inc. has a 1-year low of $21.90 and a 1-year high of $30.75.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. The firm had revenue of $17.80 million during the quarter, compared to analyst estimates of $15.98 million. Surmodics had a return on equity of 7.28% and a net margin of 8.66%. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Analysts predict that Surmodics, Inc. will post $0.27 EPS for the current year.

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Several research analysts have issued reports on the stock. Lake Street Capital assumed coverage on shares of Surmodics in a report on Friday, July 14th. They set a “buy” rating and a $40.00 price target for the company. BidaskClub lowered shares of Surmodics from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. ValuEngine lowered shares of Surmodics from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Aegis assumed coverage on shares of Surmodics in a report on Tuesday, June 27th. They set a “buy” rating for the company. Finally, Zacks Investment Research lowered shares of Surmodics from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Surmodics presently has an average rating of “Hold” and a consensus target price of $34.33.

In other news, CEO Gary R. Maharaj sold 5,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $28.03, for a total transaction of $140,150.00. Following the completion of the sale, the chief executive officer now owns 131,807 shares of the company’s stock, valued at $3,694,550.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gary R. Maharaj sold 2,702 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $25.09, for a total value of $67,793.18. Following the sale, the chief executive officer now directly owns 136,807 shares of the company’s stock, valued at approximately $3,432,487.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,928 shares of company stock valued at $392,469. Insiders own 6.40% of the company’s stock.

About Surmodics

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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Institutional Ownership by Quarter for Surmodics (NASDAQ:SRDX)

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