New York State Common Retirement Fund Lowers Position in Surmodics, Inc. (NASDAQ:SRDX)

Key Points

• The New York State Common Retirement Fund has reduced its holdings in Surmodics, Inc. by 70.8% this quarter, now owning 5,716 shares valued at approximately $175,000.
• Surmodics' recent earnings report showed a loss of ($0.13) per share, missing the consensus estimate by $0.07 and reporting revenue of $28.09 million, below expectations.
• Surmodics' stock price opened at $36.00, with the shares increasing by 12.3%, and the company has a market capitalization of $514.80 million.

New York State Common Retirement Fund trimmed its position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 70.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,716 shares of the company's stock after selling 13,828 shares during the quarter. New York State Common Retirement Fund's holdings in Surmodics were worth $175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC lifted its position in shares of Surmodics by 0.4% during the fourth quarter. Millennium Management LLC now owns 120,344 shares of the company's stock valued at $4,766,000 after purchasing an additional 509 shares in the last quarter. Principal Financial Group Inc. grew its position in Surmodics by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 36,699 shares of the company's stock worth $1,120,000 after purchasing an additional 638 shares in the last quarter. Legal & General Group Plc increased its stake in Surmodics by 34.2% in the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock valued at $137,000 after buying an additional 880 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in Surmodics by 1.1% in the 1st quarter. Salem Investment Counselors Inc. now owns 114,950 shares of the company's stock valued at $3,509,000 after buying an additional 1,200 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Surmodics by 40.9% during the 4th quarter. Wells Fargo & Company MN now owns 7,032 shares of the company's stock worth $278,000 after buying an additional 2,041 shares in the last quarter. Institutional investors own 96.63% of the company's stock.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a report on Wednesday, April 30th.

Surmodics Stock Up 12.3%

Shares of NASDAQ:SRDX opened at $36.00 on Friday. Surmodics, Inc. has a 1 year low of $26.00 and a 1 year high of $41.77. The company has a market capitalization of $514.80 million, a PE ratio of -25.90 and a beta of 1.31. The business has a fifty day moving average price of $29.90 and a two-hundred day moving average price of $30.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.14 and a quick ratio of 3.99.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The company had revenue of $28.09 million for the quarter, compared to the consensus estimate of $32.23 million. Surmodics had a negative net margin of 16.34% and a negative return on equity of 7.10%. Analysts forecast that Surmodics, Inc. will post 0.2 earnings per share for the current 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).

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