BNP Paribas Financial Markets Sells 4,994 Shares of Surmodics, Inc. (NASDAQ:SRDX)

BNP Paribas Financial Markets cut its position in Surmodics, Inc. (NASDAQ:SRDX) by 62.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,955 shares of the company’s stock after selling 4,994 shares during the quarter. BNP Paribas Financial Markets’ holdings in Surmodics were worth $115,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SRDX. Quest Partners LLC grew its position in shares of Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after buying an additional 1,071 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Surmodics by 3.5% in the second quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock valued at $1,531,000 after acquiring an additional 1,221 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Surmodics by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock worth $4,511,000 after purchasing an additional 1,491 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new position in shares of Surmodics during the third quarter worth $67,000. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Surmodics by 6.9% during the 3rd quarter. Wolverine Asset Management LLC now owns 27,766 shares of the company’s stock valued at $1,077,000 after purchasing an additional 1,800 shares during the last quarter. 96.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Surmodics

In other news, CFO Timothy J. Arens sold 7,009 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total value of $276,434.96. Following the sale, the chief financial officer now owns 70,350 shares in the company, valued at $2,774,604. This represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.90% of the company’s stock.

Surmodics Trading Down 0.7 %

NASDAQ:SRDX opened at $39.70 on Thursday. The company has a market capitalization of $568.74 million, a P/E ratio of -49.01 and a beta of 1.22. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. Surmodics, Inc. has a 12 month low of $25.17 and a 12 month high of $42.44. The firm has a fifty day simple moving average of $38.86 and a 200-day simple moving average of $40.01.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (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 research analysts anticipate that Surmodics, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SRDX. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. StockNews.com began coverage on Surmodics in a report on Tuesday. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently 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).