Surmodics, Inc. (NASDAQ:SRDX) Shares Sold by Trigran Investments Inc.

Trigran Investments Inc. cut its position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 32.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 368,215 shares of the company's stock after selling 175,127 shares during the quarter. Surmodics comprises 1.7% of Trigran Investments Inc.'s portfolio, making the stock its 17th biggest position. Trigran Investments Inc. owned about 2.57% of Surmodics worth $14,581,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SRDX. Oddo BHF Asset Management Sas purchased a new stake in shares of Surmodics during the 3rd quarter worth about $6,593,000. Principal Financial Group Inc. purchased a new stake in Surmodics during the third quarter worth approximately $1,190,000. JPMorgan Chase & Co. grew its stake in Surmodics by 192.7% during the third quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company's stock worth $1,647,000 after buying an additional 27,960 shares during the period. State Street Corp increased its position in shares of Surmodics by 19.2% in the third quarter. State Street Corp now owns 374,068 shares of the company's stock worth $14,506,000 after acquiring an additional 60,240 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Surmodics by 16.0% in the 3rd quarter. Barclays PLC now owns 88,750 shares of the company's stock valued at $3,443,000 after acquiring an additional 12,271 shares during the period. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Surmodics Stock Up 2.8 %

SRDX stock traded up $0.80 during trading on Thursday, reaching $29.40. The stock had a trading volume of 94,700 shares, compared to its average volume of 277,288. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $30.19 and a 200 day moving average price of $35.36. The company has a market capitalization of $420.30 million, a P/E ratio of -29.11 and a beta of 1.30. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. On average, equities analysts anticipate that Surmodics, Inc. will post 0.2 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on SRDX shares. StockNews.com began coverage on Surmodics in a report on Monday, February 3rd. They issued a "hold" rating for the company. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a research note on Thursday, January 30th. Finally, Lake Street Capital raised Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price target on the stock in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average 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).