State Street Corp Buys 60,240 Shares of Surmodics, Inc. (NASDAQ:SRDX)

State Street Corp increased its position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 19.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 374,068 shares of the company's stock after acquiring an additional 60,240 shares during the quarter. State Street Corp owned about 2.62% of Surmodics worth $14,506,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Quest Partners LLC grew its position in shares of Surmodics by 107,100.0% during the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company's stock valued at $42,000 after purchasing an additional 1,071 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new position in Surmodics in the third quarter valued at $67,000. Hardin Capital Partners LLC bought a new stake in Surmodics during the second quarter worth about $206,000. SG Americas Securities LLC purchased a new position in shares of Surmodics in the 3rd quarter worth about $220,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Surmodics during the 2nd quarter valued at about $229,000. Hedge funds and other institutional investors own 96.63% of the company's stock.

Insider Buying and Selling

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total value of $276,434.96. Following the completion of the transaction, the chief financial officer now owns 70,350 shares in the company, valued at approximately $2,774,604. This represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.90% of the stock is owned by insiders.

Surmodics Trading Up 0.4 %

SRDX traded up $0.16 during midday trading on Wednesday, reaching $39.68. 56,739 shares of the company's stock traded hands, compared to its average volume of 224,820. The stock has a market capitalization of $567.19 million, a price-to-earnings ratio of -48.99 and a beta of 1.22. Surmodics, Inc. has a 52 week low of $25.17 and a 52 week high of $42.44. The firm has a fifty day moving average of $38.98 and a two-hundred day moving average of $39.93. 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 announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.14. The company had revenue of $33.23 million during the quarter, compared to analyst estimates of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. On average, equities analysts anticipate that Surmodics, Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on SRDX. Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research note on Thursday, November 7th. StockNews.com started coverage on Surmodics in a report on Wednesday. They issued a "hold" rating on the stock. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $50.00.

Surmodics 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).