Algert Global buys $3,021,123 stake in SurModics (SRDX)

SurModics (SRDX) : Algert Global scooped up 26,565 additional shares in SurModics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 103,783 shares of SurModics which is valued at $3,021,123.SurModics makes up approximately 0.89% of Algert Global’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in SRDX in the latest quarter, The investment management firm added 140 additional shares and now holds a total of 8,780 shares of SurModics which is valued at $255,586. SurModics makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in SRDX by selling 2,238 shares or 55.52% in the most recent quarter. The Hedge Fund company now holds 1,793 shares of SRDX which is valued at $54,543.

SurModics closed down -0.86 points or -2.87% at $29.11 with 57,186 shares getting traded on Tuesday. Post opening the session at $30.02, the shares hit an intraday low of $28.862 and an intraday high of $30.02 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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