Salem Investment Counselors Inc. Sells 52,795 Shares of Surmodics, Inc. $SRDX

Salem Investment Counselors Inc. lessened its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 45.9% in the third quarter, HoldingsChannel.com reports. The firm owned 62,155 shares of the company’s stock after selling 52,795 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Surmodics were worth $1,858,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Surmodics during the second quarter worth $1,277,000. Nuveen LLC acquired a new position in Surmodics in the first quarter valued at $1,262,000. Thompson Davis & CO. Inc. bought a new stake in Surmodics during the second quarter valued at $1,873,000. AlphaQuest LLC acquired a new stake in Surmodics during the 1st quarter worth about $232,000. Finally, Hsbc Holdings PLC grew its holdings in Surmodics by 4.8% during the 1st quarter. Hsbc Holdings PLC now owns 267,042 shares of the company’s stock worth $8,252,000 after acquiring an additional 12,344 shares during the period. Institutional investors own 96.63% of the company’s stock.

Analyst Upgrades and Downgrades

SRDX has been the topic of a number of recent analyst reports. Barrington Research reissued an “underperform” rating on shares of Surmodics in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surmodics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $43.00.

Surmodics Price Performance

SRDX stock opened at $42.98 on Thursday. The stock has a market capitalization of $614.53 million, a PE ratio of -34.94 and a beta of 1.30. The company’s 50-day moving average is $35.80 and its 200-day moving average is $33.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.91 and a quick ratio of 3.10. Surmodics, Inc. has a 1 year low of $25.87 and a 1 year high of $43.00.

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).