Acadian Asset Management LLC Sells 6,119 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Acadian Asset Management LLC trimmed its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 1.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 402,660 shares of the company’s stock after selling 6,119 shares during the quarter. Acadian Asset Management LLC’s holdings in Surmodics were worth $16,923,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SRDX. Panagora Asset Management Inc. raised its stake in shares of Surmodics by 109.8% during the fourth quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock worth $1,624,000 after acquiring an additional 23,379 shares in the last quarter. Bailard Inc. purchased a new position in Surmodics in the 2nd quarter worth $257,000. Nisa Investment Advisors LLC lifted its stake in Surmodics by 4,722.3% in the second quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock worth $2,877,000 after purchasing an additional 67,010 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in Surmodics by 15.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after buying an additional 620 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Surmodics by 0.7% during the first quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock valued at $25,385,000 after buying an additional 5,927 shares during the last quarter. Institutional investors own 96.63% of the company’s stock.

Surmodics Trading Up 1.3 %

SRDX opened at $39.32 on Tuesday. Surmodics, Inc. has a one year low of $25.17 and a one year high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. The business has a 50 day simple moving average of $40.83 and a two-hundred day simple moving average of $35.81. The firm has a market capitalization of $561.10 million, a price-to-earnings ratio of 41.39 and a beta of 1.20.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Lake Street Capital reissued a “hold” rating and issued a $43.00 target price on shares of Surmodics in a research note on Wednesday, May 29th. StockNews.com started coverage on Surmodics in a research note on Wednesday, September 4th. They issued a “hold” rating on the stock. Sidoti reissued a “neutral” rating and set a $43.00 price objective on shares of Surmodics in a research note on Wednesday, May 29th. Barrington Research restated a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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).