Jane Street Group LLC Sells 7,752 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Jane Street Group LLC reduced its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 36.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,459 shares of the company’s stock after selling 7,752 shares during the period. Jane Street Group LLC’s holdings in Surmodics were worth $522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC grew its position in shares of Surmodics by 107,100.0% during the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after acquiring an additional 1,071 shares during the period. Longfellow Investment Management Co. LLC bought a new position in shares of Surmodics during the 3rd quarter valued at approximately $67,000. Hardin Capital Partners LLC bought a new position in shares of Surmodics during the 2nd quarter valued at approximately $206,000. SG Americas Securities LLC bought a new position in shares of Surmodics during the 3rd quarter valued at approximately $220,000. Finally, The Manufacturers Life Insurance Company bought a new position in Surmodics in the 2nd quarter worth approximately $229,000. 96.63% of the stock is owned by institutional investors.

Insider Activity

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of Surmodics 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 directly owns 70,350 shares in the company, valued at $2,774,604. The trade was a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SRDX shares. StockNews.com began coverage on shares of Surmodics in a report on Thursday. They set a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Surmodics has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Price Performance

SRDX stock opened at $39.52 on Monday. The firm has a 50 day moving average of $39.17 and a 200-day moving average of $39.80. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. Surmodics, Inc. has a 12 month low of $25.17 and a 12 month high of $42.44. The firm has a market capitalization of $564.90 million, a P/E ratio of -48.79 and a beta of 1.22.

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

Surmodics Company 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).