30,696 Shares in Surmodics, Inc. (NASDAQ:SRDX) Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new position in shares of Surmodics, Inc. (NASDAQ:SRDX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,696 shares of the company’s stock, valued at approximately $1,190,000.

Other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC boosted 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 purchasing an additional 1,071 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in Surmodics during the third quarter worth about $67,000. Hardin Capital Partners LLC purchased a new position in shares of Surmodics during the 2nd quarter valued at approximately $206,000. SG Americas Securities LLC acquired a new position in shares of Surmodics during the 3rd quarter worth approximately $220,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Surmodics in the second quarter valued at about $229,000. Hedge funds and other 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 business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total transaction of $276,434.96. Following the completion of the sale, the chief financial officer now owns 70,350 shares in the company, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.90% of the company’s stock.

Surmodics Stock Down 0.4 %

Shares of NASDAQ SRDX opened at $39.52 on Friday. Surmodics, Inc. has a 12-month low of $25.17 and a 12-month high of $42.44. The stock has a market cap of $564.90 million, a P/E ratio of -48.79 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. The business’s fifty day simple moving average is $39.17 and its 200-day simple moving average is $39.81.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. StockNews.com initiated coverage on shares of Surmodics in a research note on Thursday. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Surmodics 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).