SurModics, Inc. (SRDX) Shares Sold by Cornerstone Capital Management Holdings LLC.

Cornerstone Capital Management Holdings LLC. lessened its stake in SurModics, Inc. (NASDAQ:SRDX) by 36.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,734 shares of the company’s stock after selling 13,800 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.18% of SurModics worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its holdings in shares of SurModics by 12.9% in the second quarter. Great West Life Assurance Co. Can now owns 21,908 shares of the company’s stock valued at $615,000 after buying an additional 2,500 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of SurModics by 0.9% in the second quarter. Texas Permanent School Fund now owns 9,693 shares of the company’s stock valued at $273,000 after buying an additional 88 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of SurModics by 8.7% in the second quarter. Legal & General Group Plc now owns 24,739 shares of the company’s stock valued at $697,000 after buying an additional 1,985 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of SurModics by 66.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,270 shares of the company’s stock valued at $120,000 after buying an additional 1,700 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of SurModics in the second quarter valued at about $751,000. Institutional investors own 85.64% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of SurModics from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. ValuEngine raised shares of SurModics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub cut shares of SurModics from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $40.00.

In related news, VP Joseph J. Stich sold 1,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $30.18, for a total transaction of $30,180.00. Following the completion of the transaction, the vice president now directly owns 46,450 shares of the company’s stock, valued at $1,401,861. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.40% of the company’s stock.

Shares of SurModics, Inc. (SRDX) opened at $28.85 on Tuesday. SurModics, Inc. has a 1-year low of $21.90 and a 1-year high of $34.15. The company has a market cap of $370.83, a PE ratio of 99.48 and a beta of 0.83.

SurModics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.19. The firm had revenue of $20.06 million during the quarter, compared to analysts’ expectations of $16.98 million. SurModics had a net margin of 5.37% and a return on equity of 6.18%. analysts predict that SurModics, Inc. will post -0.44 EPS for the current fiscal year.

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SurModics Company Profile

Surmodics, Inc is a provider of medical device and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company’s Medical Device segment consists of surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices; international cardiology and peripheral balloon design, development and manufacturing, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device.

Institutional Ownership by Quarter for SurModics (NASDAQ:SRDX)

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