Bank of New York Mellon Corp Sells 15,659 Shares of SurModics, Inc. (SRDX)
Bank of New York Mellon Corp reduced its stake in SurModics, Inc. (NASDAQ:SRDX) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,661 shares of the company’s stock after selling 15,659 shares during the period. Bank of New York Mellon Corp owned 1.30% of SurModics worth $5,352,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of SRDX. Vanguard Group Inc. raised its stake in 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 buying an additional 22,977 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of SurModics in the 2nd quarter valued at about $751,000. Foundry Partners LLC acquired a new stake in shares of SurModics in the 3rd quarter valued at about $2,746,000. Teachers Advisors LLC raised its stake in shares of SurModics by 2.7% in the 2nd quarter. Teachers Advisors LLC now owns 27,013 shares of the company’s stock valued at $760,000 after purchasing an additional 708 shares during the period. Finally, Trigran Investments Inc. raised its stake in shares of SurModics by 17.6% in the 2nd quarter. Trigran Investments Inc. now owns 1,258,613 shares of the company’s stock valued at $35,430,000 after purchasing an additional 188,114 shares during the period. Institutional investors and hedge funds own 85.64% of the company’s stock.
In other news, VP Joseph J. Stich sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $30.18, for a total value of $30,180.00. Following the completion of the transaction, the vice president now owns 46,450 shares in the company, valued at approximately $1,401,861. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is owned by company insiders.
SurModics (NASDAQ:SRDX) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.19. The company had revenue of $20.06 million during the quarter, compared to analysts’ expectations of $16.98 million. SurModics had a return on equity of 6.18% and a net margin of 5.37%. equities research analysts anticipate that SurModics, Inc. will post -0.44 earnings per share for the current year.
Several analysts have issued reports on SRDX shares. Zacks Investment Research downgraded SurModics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. BidaskClub downgraded SurModics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $40.00.
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SurModics Company 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.
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