Today’s 13GD Alert: Why Jpmorgan Chase & Co Reported Big Surmodics Inc Position?

Today's 13GD Alert: Why Jpmorgan Chase & Co Reported Big Surmodics Inc Position?

The New Jpmorgan Chase & Co Holding in Surmodics Inc

Jpmorgan Chase & Co filed with the SEC SC 13G/A form for Surmodics Inc. The form can be accessed here: 000001961716001198. As reported in Jpmorgan Chase & Co’s form, the filler as of late owns 3.0% or 397,036 shares of the Health Care–company.

Surmodics Inc stake is a new one for the for this institutional investor and it was filed because of activity on October 31, 2016. We feel this shows Jpmorgan Chase & Co’s positive view for the stock.

Surmodics Inc Institutional Sentiment

Latest Security and Exchange filings show 121 investors own Surmodics Inc. The institutional ownership in Q3 2015 is high, at 84.17% of the outstanding shares. This is decreased by 524917 the total institutional shares. 10984283 were the shares owned by these institutional investors. In total 11 funds opened new Surmodics Inc stakes, 45 increased stakes. There were 8 that closed positions and 45 reduced them.

Murphy Pohlad Asset Management Llc is an institutional investor bullish on Surmodics Inc, owning 78455 shares as of Q3 2015 for 1.39% of its portfolio. Menta Capital Llc owns 114687 shares or 0.40% of its portfolio. NY Trellus Management Company Llc have 1.26% of their stock portfolio for 39455 shares. Further, Rotella Capital Management Inc reported stake worth 0.45% of its US stock portfolio. The IL Trigran Investments Inc owns 360613 shares. Surmodics Inc is 2.47% of the manager’s US portfolio.

Business Profile

SurModics, Inc. is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company is focused on to transform its medical device business from being a provider of coating technologies to offering whole product solutions to medical device customers. The Company’s Medical Device segment consists 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. The Company’s In Vitro Diagnostics segment manufactures or sells components for in vitro diagnostic immunoassay and molecular tests. Its products include BioFX Liquid Nova-Stop Solution, StabilZyme Protein-Free AP Stabilizer, StabilZyme Protein-Free Stabilizer and StabilBlot Blocker Family.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.18, from 1.04 in 2016Q1. The ratio turned negative, as 6 funds sold all SurModics, Inc. shares owned while 43 reduced positions. 13 funds bought stakes while 29 increased positions. They now own 11.02 million shares or 4.16% less from 11.50 million shares in 2016Q1.

Blackrock Institutional Tru Co Na holds 0% or 413,658 shares in its portfolio. Blackrock Incorporated owns 1,481 shares or 0% of their US portfolio. Barclays Public Limited Com holds 0% or 878 shares in its portfolio. Ubs Asset Mgmt Americas has 0% invested in the company for 10,499 shares. Glenmede Trust Na has 0% invested in the company for 9,706 shares. Loomis Sayles And Limited Partnership reported 291,042 shares or 0.02% of all its holdings. D E Shaw And, a New York-based fund reported 61,849 shares. Principal Group Inc, a Iowa-based fund reported 91,696 shares. Alliancebernstein L P, a New York-based fund reported 35,321 shares. Aqr Management Llc last reported 78,801 shares in the company. The West Virginia-based Wesbanco Bank Incorporated has invested 0.02% in SurModics, Inc. (NASDAQ:SRDX). Geode Capital Mngmt Llc last reported 145,056 shares in the company. Voya Management Limited Company last reported 34,492 shares in the company. Secor Advsr Lp holds 24,055 shares or 0.07% of its portfolio. Schwab Charles Invest Management holds 0% or 95,732 shares in its portfolio.

Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 8 selling transactions for $964,641 net activity. 2,330 shares were sold by KNIGHT SUSAN E, worth $52,067 on Tuesday, May 31. Phillips Bryan K sold $42,561 worth of stock. 12,500 SurModics, Inc. (NASDAQ:SRDX) shares with value of $338,527 were sold by OLSON CHARLES W. 5,000 shares were sold by Maharaj Gary R, worth $147,770 on Monday, October 3. 1,000 shares with value of $28,741 were sold by Stich Joseph J. on Tuesday, September 6.

Analysts await SurModics, Inc. (NASDAQ:SRDX) to report earnings on November, 8. They expect $0.09 earnings per share, down 70.00% or $0.21 from last year’s $0.3 per share. SRDX’s profit will be $1.17 million for 69.44 P/E if the $0.09 EPS becomes a reality. After $0.37 actual earnings per share reported by SurModics, Inc. for the previous quarter, Wall Street now forecasts -75.68% negative EPS growth.

It is down 34.48% since April 5, 2016 and is uptrending. It has outperformed by 32.52% the S&P500.

SurModics, Inc. is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The company has a market cap of $326.14 million. The Firm operates through two divisions: Medical Device and In Vitro Diagnostics. It has a 38.03 P/E ratio. The Firm is focused on to transform its medical device business from being a well-known provider of coating technologies to offering whole product solutions to medical device customers.

SurModics, Inc. (NASDAQ:SRDX) Ratings Coverage

Out of 2 analysts covering SurModics (NASDAQ:SRDX), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. SurModics has been the topic of 2 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Barrington Research maintained SurModics, Inc. (NASDAQ:SRDX) on Thursday, August 6 with “Outperform” rating. Sidoti downgraded SurModics, Inc. (NASDAQ:SRDX) on Friday, October 7 to “Neutral” rating.

According to Zacks Investment Research, “SurModics, Inc. is a leading provider of surface modification technologies in the areas of biocompatibility, site specific drug delivery, biological cell encapsulation, and medical diagnostics. SurModics partners with the world’s foremost medical device, pharmaceutical and life science companies to bring innovation together for better patient outcomes. Recent collaborative efforts include the implementation of SurModics’ Bravo drug delivery polymer matrix as a key component of the first-to-market drug-eluting coronary stent. SurModics is also active in the ophthalmology market with a sustained drug delivery system that is currently in human trials for treatment of retinal disease. A significant portion of SurModics’ revenue is generated by royalties earned from the sale of our customers’ commercial products.”

SRDX Company Profile

SurModics, Inc., incorporated on June 27, 1979, is a well-known provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Firm operates through two divisions: Medical Device and In Vitro Diagnostics. The Firm is focused on to transform its medical device business from being a well-known provider of coating technologies to offering whole product solutions to medical device customers. As of September 30, 2015, the Company had over 150 licensed product classes (customer products utilizing SurModics technology) already in the market generating royalties and approximately 100 customer product classes incorporating its technology in various stages of pre-commercialization.

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