Disciplined Growth Investors Inc. MN Sells 78,609 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Disciplined Growth Investors Inc. MN cut its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 11.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 580,566 shares of the company’s stock after selling 78,609 shares during the period. Disciplined Growth Investors Inc. MN’s holdings in Surmodics were worth $24,407,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Hardin Capital Partners LLC purchased a new stake in Surmodics in the second quarter worth approximately $206,000. SG Americas Securities LLC boosted its stake in shares of Surmodics by 14.7% in the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after purchasing an additional 660 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Surmodics during the 2nd quarter valued at $229,000. Lazard Asset Management LLC raised its position in Surmodics by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after purchasing an additional 673 shares during the period. Finally, Bailard Inc. purchased a new position in Surmodics in the 2nd quarter worth $257,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SRDX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research note on Monday, August 5th. StockNews.com began coverage on Surmodics in a research note on Saturday. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Stock Performance

Surmodics stock opened at $38.49 on Friday. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The firm has a market cap of $548.87 million, a P/E ratio of 40.52 and a beta of 1.20. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44. The firm has a 50-day moving average of $40.03 and a 200-day moving average of $36.54.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.04. Surmodics had a positive return on equity of 3.88% and a negative net margin of 1.16%. The business had revenue of $30.34 million during the quarter, compared to analysts’ expectations of $30.32 million. Sell-side analysts expect that Surmodics, Inc. will post -0.47 EPS for the current year.

About Surmodics

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).