Spark Investment Management LLC Sells 25,079 Shares of SurModics, Inc. (SRDX)

Spark Investment Management LLC decreased its holdings in SurModics, Inc. (NASDAQ:SRDX) by 75.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,121 shares of the company’s stock after selling 25,079 shares during the quarter. Spark Investment Management LLC’s holdings in SurModics were worth $353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SRDX. Pearl River Capital LLC lifted its stake in SurModics by 168.3% in the first quarter. Pearl River Capital LLC now owns 958 shares of the company’s stock worth $42,000 after acquiring an additional 601 shares during the last quarter. LS Investment Advisors LLC lifted its stake in SurModics by 53.3% in the first quarter. LS Investment Advisors LLC now owns 1,476 shares of the company’s stock worth $64,000 after acquiring an additional 513 shares during the last quarter. Quantamental Technologies LLC purchased a new position in SurModics in the fourth quarter worth approximately $99,000. BNP Paribas Arbitrage SA lifted its stake in SurModics by 1,080.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,762 shares of the company’s stock worth $120,000 after acquiring an additional 2,528 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in SurModics in the fourth quarter worth approximately $182,000. 85.95% of the stock is owned by institutional investors and hedge funds.

SurModics stock traded up $1.33 during trading on Friday, reaching $40.85. The stock had a trading volume of 910 shares, compared to its average volume of 110,434. SurModics, Inc. has a 52-week low of $38.06 and a 52-week high of $82.35. The company has a market capitalization of $527.67 million, a P/E ratio of 83.18, a P/E/G ratio of 13.04 and a beta of 1.24.

SurModics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.09. SurModics had a negative net margin of 2.07% and a positive return on equity of 6.35%. The company had revenue of $22.68 million during the quarter, compared to the consensus estimate of $21.01 million. As a group, analysts predict that SurModics, Inc. will post 0.3 EPS for the current year.

In other SurModics news, CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $42.90, for a total transaction of $214,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph J. Stich sold 1,900 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $45.00, for a total transaction of $85,500.00. Following the sale, the vice president now directly owns 52,637 shares in the company, valued at approximately $2,368,665. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,569 shares of company stock worth $665,363. 7.70% of the stock is owned by corporate insiders.

A number of research analysts recently issued reports on SRDX shares. Needham & Company LLC reiterated a “buy” rating and issued a $74.00 price target (up previously from $69.00) on shares of SurModics in a research note on Thursday, February 21st. BidaskClub downgraded shares of SurModics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. Barrington Research set a $64.00 price target on shares of SurModics and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Lake Street Capital set a $75.00 price target on shares of SurModics and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, ValuEngine downgraded shares of SurModics from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $68.00.

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About SurModics

Surmodics, Inc, together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and internationally. The company operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment designs, develops, and manufactures interventional medical devices primarily for the peripheral vascular market; and offers surface modification coating technologies to enhance access, deliverability, and predictable deployment of medical devices, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device for the coronary, peripheral, neuro-vascular, urology, and other markets.

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Institutional Ownership by Quarter for SurModics (NASDAQ:SRDX)

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