US Bancorp DE Has $430,000 Position in SurModics, Inc. (NASDAQ:SRDX)

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US Bancorp DE boosted its position in shares of SurModics, Inc. (NASDAQ:SRDX) by 6.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,888 shares of the company’s stock after acquiring an additional 608 shares during the period. US Bancorp DE’s holdings in SurModics were worth $430,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pearl River Capital LLC lifted its holdings in SurModics by 168.3% during the first quarter. Pearl River Capital LLC now owns 958 shares of the company’s stock valued at $42,000 after purchasing an additional 601 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in SurModics by 53.3% during the first quarter. LS Investment Advisors LLC now owns 1,476 shares of the company’s stock valued at $64,000 after purchasing an additional 513 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in SurModics by 1,080.3% during the first quarter. BNP Paribas Arbitrage SA now owns 2,762 shares of the company’s stock valued at $120,000 after purchasing an additional 2,528 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in SurModics during the fourth quarter valued at $182,000. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in SurModics by 378.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,517 shares of the company’s stock valued at $213,000 after purchasing an additional 3,573 shares in the last quarter. Institutional investors own 86.67% of the company’s stock.

Shares of NASDAQ:SRDX traded down $0.02 during midday trading on Friday, hitting $41.88. The company’s stock had a trading volume of 3,035 shares, compared to its average volume of 122,279. The company has a market cap of $544.93 million, a P/E ratio of 86.27, a P/E/G ratio of 13.47 and a beta of 1.24. SurModics, Inc. has a 12-month low of $38.06 and a 12-month high of $82.35.

SurModics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The firm had revenue of $22.68 million for the quarter, compared to the consensus estimate of $21.01 million. SurModics had a negative net margin of 2.07% and a positive return on equity of 6.35%. As a group, analysts expect that SurModics, Inc. will post 0.3 earnings per share for the current year.

In other news, VP Joseph J. Stich sold 1,900 shares of the firm’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $45.00, for a total value of $85,500.00. Following the transaction, the vice president now directly owns 52,637 shares of the company’s stock, valued at $2,368,665. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.95, for a total transaction of $204,750.00. Following the completion of the transaction, the chief executive officer now directly owns 152,205 shares in the company, valued at $6,232,794.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,000 shares of company stock worth $722,704. Insiders own 7.70% of the company’s stock.

Several equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $74.00 price objective (up from $69.00) on shares of SurModics in a report on Thursday, February 21st. Barrington Research set a $64.00 price target on shares of SurModics and gave the stock a “buy” rating in a research note on Thursday, May 2nd. BidaskClub raised shares of SurModics from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 30th. Lake Street Capital set a $75.00 price target on shares of SurModics and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, ValuEngine downgraded shares of SurModics from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $68.00.

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About SurModics

Surmodics, Inc, together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and internationally. The company operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment designs, develops, and manufactures interventional medical devices primarily for the peripheral vascular market; and offers surface modification coating technologies to enhance access, deliverability, and predictable deployment of medical devices, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device for the coronary, peripheral, neuro-vascular, urology, and other markets.

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Want to see what other hedge funds are holding SRDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SurModics, Inc. (NASDAQ:SRDX).

Institutional Ownership by Quarter for SurModics (NASDAQ:SRDX)

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