Trigran Investments buys $15,456,225 stake in SurModics (SRDX)

SurModics (SRDX) : Trigran Investments scooped up 33,655 additional shares in SurModics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 547,123 shares of SurModics which is valued at $15,456,225.SurModics makes up approximately 3.89% of Trigran Investments’s portfolio.

Other Hedge Funds, Including , Tfs Capital added SRDX to its portfolio by purchasing 9,532 company shares during the most recent quarter which is valued at $269,279. SurModics makes up approx 0.05% of Tfs Capital’s portfolio.Blackrock Advisors reduced its stake in SRDX by selling 6,508 shares or 7.57% in the most recent quarter. The Hedge Fund company now holds 79,489 shares of SRDX which is valued at $2,245,564.Tower Research Capital (trc) boosted its stake in SRDX in the latest quarter, The investment management firm added 660 additional shares and now holds a total of 1,060 shares of SurModics which is valued at $29,945.Gsa Capital Partners Llp reduced its stake in SRDX by selling 23,969 shares or 42.95% in the most recent quarter. The Hedge Fund company now holds 31,840 shares of SRDX which is valued at $883,878. SurModics makes up approx 0.05% of Gsa Capital Partners Llp’s portfolio.Cadence Capital Management reduced its stake in SRDX by selling 601 shares or 1.93% in the most recent quarter. The Hedge Fund company now holds 30,539 shares of SRDX which is valued at $844,098. SurModics makes up approx 0.06% of Cadence Capital Management’s portfolio.

SurModics opened for trading at $29.52 and hit $29.78 on the upside on Tuesday, eventually ending the session at $29.58, with a gain of 0.44% or 0.13 points. The heightened volatility saw the trading volume jump to 52,319 shares. Company has a market cap of $386 M.

On the company’s financial health, SurModics reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.12. The company had revenue of $19.97 million for the quarter, compared to analysts expectations of $16.31 million. The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

SurModics Inc. is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Company operates in two reportable segments: the Medical Device unit which is comprised of surface modification coating technologies to improve 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 with end markets that include coronary peripheral and neurovascular and urology among others and the In Vitro Diagnostics unit which consists of component products and technologies for diagnostic immunoassay and molecular tests and biomedical research applications with products that include protein stabilization reagents substrates antigens and surface coatings.

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