Disciplined Growth Investors Inc. MN Sells 303,690 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Disciplined Growth Investors Inc. MN cut its holdings in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 52.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,876 shares of the company's stock after selling 303,690 shares during the period. Disciplined Growth Investors Inc. MN owned about 1.94% of Surmodics worth $10,737,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in Surmodics by 4,722.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company's stock worth $2,877,000 after buying an additional 67,010 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Surmodics by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 58,610 shares of the company's stock valued at $2,464,000 after acquiring an additional 8,220 shares during the period. Bailard Inc. acquired a new stake in Surmodics in the second quarter worth about $257,000. Versor Investments LP acquired a new position in Surmodics during the 2nd quarter valued at about $2,723,000. Finally, Rhumbline Advisers raised its stake in shares of Surmodics by 13.3% during the second quarter. Rhumbline Advisers now owns 20,999 shares of the company's stock worth $883,000 after buying an additional 2,463 shares during the last quarter. Institutional investors own 96.63% of the company's stock.

Surmodics Stock Performance

Shares of NASDAQ SRDX remained flat at $40.13 during midday trading on Tuesday. 26,310 shares of the stock were exchanged, compared to its average volume of 226,870. Surmodics, Inc. has a 12 month low of $25.17 and a 12 month high of $42.44. The stock has a fifty day simple moving average of $38.64 and a 200 day simple moving average of $39.94. The company has a market cap of $574.90 million, a PE ratio of -49.54 and a beta of 1.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.14. The business had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. As a group, equities analysts anticipate that Surmodics, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling

In other news, CFO Timothy J. Arens sold 7,009 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total transaction of $276,434.96. Following the completion of the sale, the chief financial officer now owns 70,350 shares in the company, valued at $2,774,604. The trade was a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Surmodics in a report on Thursday, November 7th. StockNews.com assumed coverage on shares of Surmodics in a research note on Monday. They issued a "hold" rating for the company. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $50.00.

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).