Surmodics, Inc. (NASDAQ:SRDX) Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 154.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,066 shares of the company’s stock after purchasing an additional 98,489 shares during the quarter. Squarepoint Ops LLC owned about 1.13% of Surmodics worth $6,418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gabelli Funds LLC boosted its holdings in Surmodics by 3.7% in the fourth quarter. Gabelli Funds LLC now owns 339,959 shares of the company’s stock valued at $13,462,000 after purchasing an additional 12,250 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Surmodics during the 4th quarter worth $11,880,000. Gardner Lewis Asset Management L P raised its position in Surmodics by 23.5% during the 4th quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company’s stock worth $10,410,000 after buying an additional 49,944 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Surmodics by 2.9% in the fourth quarter. Hsbc Holdings PLC now owns 254,698 shares of the company’s stock valued at $10,082,000 after buying an additional 7,163 shares in the last quarter. Finally, AQR Arbitrage LLC grew its stake in Surmodics by 56.4% in the 4th quarter. AQR Arbitrage LLC now owns 205,956 shares of the company’s stock valued at $8,156,000 after acquiring an additional 74,275 shares during the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SRDX has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Wednesday, April 30th. Lake Street Capital upgraded shares of Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Friday, March 7th. Finally, Wall Street Zen started coverage on shares of Surmodics in a report on Monday, February 3rd. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.00.

Surmodics Trading Down 1.6%

NASDAQ SRDX opened at $28.70 on Friday. Surmodics, Inc. has a one year low of $26.00 and a one year high of $42.44. The company’s 50 day moving average price is $28.84 and its 200 day moving average price is $33.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. The firm has a market capitalization of $410.38 million, a price-to-earnings ratio of -28.42 and a beta of 1.32.

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

About Surmodics

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).