Balyasny Asset Management L.P. Takes Position in Surmodics, Inc. (NASDAQ:SRDX)

Balyasny Asset Management L.P. bought a new position in shares of Surmodics, Inc. (NASDAQ:SRDX) in the fourth quarter, Holdings Channel reports. The institutional investor bought 124,265 shares of the company’s stock, valued at approximately $4,921,000.

Several other hedge funds have also recently modified their holdings of SRDX. Rhumbline Advisers increased its stake in Surmodics by 4.4% during the 4th quarter. Rhumbline Advisers now owns 20,250 shares of the company’s stock worth $802,000 after buying an additional 861 shares in the last quarter. Legal & General Group Plc increased its position in shares of Surmodics by 34.2% during the fourth quarter. Legal & General Group Plc now owns 3,452 shares of the company’s stock worth $137,000 after purchasing an additional 880 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Surmodics by 22.1% during the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock worth $275,000 after purchasing an additional 1,255 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Surmodics during the fourth quarter worth $55,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Surmodics by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 117,904 shares of the company’s stock valued at $4,669,000 after buying an additional 1,593 shares during the last quarter. Institutional investors and hedge funds own 96.63% of the company’s stock.

Surmodics Stock Performance

NASDAQ:SRDX opened at $26.76 on Friday. The company’s 50-day moving average is $28.87 and its two-hundred day moving average is $34.50. The firm has a market capitalization of $382.64 million, a price-to-earnings ratio of -26.50 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29. Surmodics, Inc. has a 1-year low of $26.00 and a 1-year high of $42.44.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. The business had revenue of $28.09 million during the quarter, compared to analysts’ expectations of $32.23 million. Analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SRDX. StockNews.com began coverage on shares of Surmodics in a research note on Monday, February 3rd. They set a “hold” rating for the company. Lake Street Capital raised Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Friday, March 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $43.00.

Surmodics 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).