Louisiana State Employees Retirement System Purchases New Position in Surmodics, Inc. (NASDAQ:SRDX)

Louisiana State Employees Retirement System purchased a new stake in Surmodics, Inc. (NASDAQ:SRDX – Get Rating) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,700 shares of the company’s stock, valued at approximately $204,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its holdings in Surmodics by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 34,615 shares of the company’s stock valued at $1,289,000 after purchasing an additional 302 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Surmodics by 2.2% during the second quarter. Goldman Sachs Group Inc. now owns 108,024 shares of the company’s stock valued at $4,021,000 after acquiring an additional 2,280 shares in the last quarter. White Pine Capital LLC grew its stake in shares of Surmodics by 11.5% during the second quarter. White Pine Capital LLC now owns 9,042 shares of the company’s stock valued at $337,000 after acquiring an additional 931 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Surmodics by 20.8% during the second quarter. Thrivent Financial for Lutherans now owns 13,744 shares of the company’s stock valued at $512,000 after acquiring an additional 2,367 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in shares of Surmodics by 320.7% during the second quarter. Citadel Advisors LLC now owns 9,931 shares of the company’s stock valued at $369,000 after acquiring an additional 14,431 shares in the last quarter. 96.49% of the stock is currently owned by institutional investors and hedge funds.

Surmodics Price Performance

Shares of Surmodics stock opened at $36.23 on Friday. The business has a 50-day moving average of $35.08 and a 200-day moving average of $34.16. The company has a market capitalization of $511.78 million, a PE ratio of -18.48 and a beta of 0.97. Surmodics, Inc. has a 1-year low of $28.27 and a 1-year high of $47.12.

Surmodics (NASDAQ:SRDX – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.12. The business had revenue of $25.99 million during the quarter, compared to the consensus estimate of $24.84 million. Surmodics had a negative return on equity of 10.59% and a negative net margin of 27.29%. On average, equities analysts expect that Surmodics, Inc. will post -2.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jose H. Bedoya sold 4,366 shares of Surmodics stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $34.89, for a total value of $152,329.74. Following the completion of the transaction, the director now directly owns 24,192 shares in the company, valued at $844,058.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jose H. Bedoya sold 4,366 shares of Surmodics stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $34.89, for a total value of $152,329.74. Following the completion of the transaction, the director now directly owns 24,192 shares in the company, valued at $844,058.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald B. Sr Kalich, Sr. sold 2,733 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $33.48, for a total transaction of $91,500.84. Following the completion of the transaction, the director now directly owns 30,179 shares in the company, valued at approximately $1,010,392.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,872 shares of company stock worth $335,340. Corporate insiders own 7.50% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Surmodics in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Surmodics Company Profile

(Get Rating)

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 in two segments, Medical Device and In Vitro Diagnostics (IVD).