Salem Investment Counselors Inc. Trims Stake in Surmodics, Inc. (NASDAQ:SRDX)

Salem Investment Counselors Inc. trimmed its position in Surmodics, Inc. (NASDAQ:SRDX) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,750 shares of the company’s stock after selling 2,200 shares during the quarter. Salem Investment Counselors Inc. owned 0.80% of Surmodics worth $4,504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Modus Advisors LLC purchased a new stake in shares of Surmodics during the 4th quarter valued at $40,000. Quest Partners LLC raised its stake in Surmodics by 107,100.0% in the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after buying an additional 1,071 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in Surmodics in the third quarter worth about $67,000. SG Americas Securities LLC purchased a new position in shares of Surmodics in the 3rd quarter valued at approximately $220,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Surmodics in the 2nd quarter worth approximately $229,000. Institutional investors own 96.63% of the company’s stock.

Insider Activity

In other news, CFO Timothy J. Arens sold 7,009 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 70,350 shares in the company, valued at $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

SRDX has been the subject of a number of research analyst reports. StockNews.com began coverage on shares of Surmodics in a report on Friday. 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, November 7th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Stock Performance

Shares of NASDAQ SRDX traded down $2.43 during trading on Monday, reaching $36.01. 363,421 shares of the company traded hands, compared to its average volume of 284,307. Surmodics, Inc. has a 12-month low of $25.17 and a 12-month high of $42.44. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The stock has a market cap of $514.73 million, a P/E ratio of -44.46 and a beta of 1.21. The firm’s fifty day simple moving average is $39.32 and its 200 day simple moving average is $39.70.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The business had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. As a group, research analysts anticipate that Surmodics, Inc. will post 0.17 earnings per share for the current fiscal year.

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).