Surmodics, Inc. $SRDX Shares Sold by Credit Industriel ET Commercial

Credit Industriel ET Commercial decreased its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 30.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,200 shares of the company’s stock after selling 26,300 shares during the period. Credit Industriel ET Commercial owned approximately 0.41% of Surmodics worth $1,759,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Groupe la Francaise bought a new stake in Surmodics in the first quarter worth about $3,648,000. Millennium Management LLC grew its stake in shares of Surmodics by 71.6% in the 1st quarter. Millennium Management LLC now owns 206,487 shares of the company’s stock worth $6,304,000 after purchasing an additional 86,143 shares during the last quarter. Tabor Asset Management LP bought a new stake in shares of Surmodics in the 1st quarter worth approximately $2,476,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Surmodics by 51.2% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 195,387 shares of the company’s stock valued at $5,965,000 after purchasing an additional 66,150 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in Surmodics by 16.3% during the first quarter. Gabelli Funds LLC now owns 395,509 shares of the company’s stock valued at $12,075,000 after purchasing an additional 55,550 shares during the last quarter. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Surmodics Trading Up 1.4%

Shares of NASDAQ SRDX opened at $26.79 on Friday. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27. Surmodics, Inc. has a one year low of $25.87 and a one year high of $40.38. The business has a 50-day moving average price of $29.79 and a two-hundred day moving average price of $30.74. The firm has a market capitalization of $383.04 million, a PE ratio of -21.78 and a beta of 1.30.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Friday, August 8th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.27. The company had revenue of $29.57 million for the quarter, compared to the consensus estimate of $28.04 million. Surmodics had a negative return on equity of 2.99% and a negative net margin of 14.59%. As a group, analysts predict that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SRDX. Zacks Research raised Surmodics to a “hold” rating in a report on Tuesday, August 12th. Barrington Research restated a “market perform” rating on shares of Surmodics in a report on Monday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Surmodics in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Surmodics presently has an average rating of “Hold” and an average price target of $43.00.

Surmodics Company Profile

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).