Surmodics, Inc. (NASDAQ:SRDX) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 86.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 76,997 shares of the company's stock after selling 506,030 shares during the period. Millennium Management LLC owned approximately 0.54% of Surmodics worth $3,237,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in shares of Surmodics by 11.3% in the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company's stock valued at $11,988,000 after purchasing an additional 41,617 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Surmodics by 5.0% during the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company's stock valued at $25,499,000 after buying an additional 28,990 shares during the last quarter. Gardner Lewis Asset Management L P bought a new position in shares of Surmodics during the second quarter valued at about $8,531,000. Sagefield Capital LP purchased a new stake in shares of Surmodics during the second quarter worth about $2,350,000. Finally, Trium Capital LLP purchased a new stake in shares of Surmodics during the second quarter worth about $1,406,000. Institutional investors and hedge funds own 96.63% of the company's stock.

Surmodics Stock Performance

Shares of NASDAQ SRDX traded up $0.23 during midday trading on Tuesday, reaching $38.55. The company had a trading volume of 262,829 shares, compared to its average volume of 229,844. The stock has a market cap of $549.72 million, a P/E ratio of 40.58 and a beta of 1.20. Surmodics, Inc. has a 1 year low of $25.17 and a 1 year high of $42.44. The business's 50-day simple moving average is $39.31 and its 200 day simple moving average is $37.45. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.04. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. The firm had revenue of $30.34 million for the quarter, compared to the consensus estimate of $30.32 million. On average, analysts forecast that Surmodics, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a report on Monday, August 5th. StockNews.com started coverage on shares of Surmodics in a research report on Monday. They issued a "hold" rating for the company. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Surmodics has an average rating of "Hold" and a consensus target price of $50.00.

About Surmodics

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).