Millennium Management LLC Trims Holdings in Surmodics, Inc. (NASDAQ:SRDX)

Millennium Management LLC trimmed its stake in Surmodics, Inc. (NASDAQ:SRDX) by 86.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 76,997 shares of the company’s stock after selling 506,030 shares during the period. Millennium Management LLC owned about 0.54% of Surmodics worth $3,237,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SRDX. Quadrature Capital Ltd purchased a new stake in shares of Surmodics in the 4th quarter valued at approximately $504,000. Mesirow Financial Investment Management Inc. purchased a new stake in Surmodics during the 1st quarter worth approximately $223,000. BNP Paribas Financial Markets increased its stake in Surmodics by 7.5% during the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after buying an additional 481 shares during the period. SG Americas Securities LLC increased its stake in Surmodics by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after buying an additional 660 shares during the period. Finally, Vanguard Group Inc. increased its stake in Surmodics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock worth $25,385,000 after buying an additional 5,927 shares during the period. 96.63% of the stock is owned by hedge funds and other institutional investors.

Surmodics Trading Down 0.6 %

Shares of NASDAQ:SRDX opened at $38.32 on Tuesday. Surmodics, Inc. has a 52 week low of $25.17 and a 52 week high of $42.44. The company’s 50 day moving average is $39.36 and its two-hundred day moving average is $37.39. 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 company has a market cap of $546.44 million, a PE ratio of 40.34 and a beta of 1.20.

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

Analysts Set New Price Targets

SRDX has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Surmodics in a research note on Monday. They set a “hold” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.00.

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).