Groupe la Francaise Sells 33,700 Shares of Surmodics, Inc. $SRDX

Groupe la Francaise decreased its stake in Surmodics, Inc. (NASDAQ:SRDX) by 28.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,800 shares of the company’s stock after selling 33,700 shares during the period. Groupe la Francaise owned about 0.60% of Surmodics worth $2,549,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of Surmodics by 103.9% during the first quarter. Invesco Ltd. now owns 11,844 shares of the company’s stock worth $362,000 after buying an additional 6,036 shares in the last quarter. Nuveen LLC bought a new stake in Surmodics during the 1st quarter worth $1,262,000. Algert Global LLC increased its holdings in Surmodics by 146.3% in the 1st quarter. Algert Global LLC now owns 35,122 shares of the company’s stock worth $1,072,000 after purchasing an additional 20,862 shares in the last quarter. Wellington Management Group LLP bought a new position in Surmodics in the first quarter valued at about $815,000. Finally, Maven Securities LTD acquired a new stake in shares of Surmodics during the first quarter valued at about $366,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SRDX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surmodics in a research note on Wednesday, October 8th. Barrington Research restated an “underperform” rating on shares of Surmodics in a research report on Friday, November 14th. Finally, Zacks Research upgraded shares of Surmodics to a “hold” rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Surmodics currently has a consensus rating of “Reduce” and a consensus price target of $43.00.

Surmodics Stock Performance

NASDAQ:SRDX opened at $42.98 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.10 and a current ratio of 3.91. Surmodics, Inc. has a fifty-two week low of $25.87 and a fifty-two week high of $43.00. The company has a 50 day simple moving average of $33.11 and a two-hundred day simple moving average of $32.46. The company has a market capitalization of $614.53 million, a PE ratio of -34.94 and a beta of 1.30.

About Surmodics

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).