Eisler Capital Management Ltd. Acquires New Stake in Surmodics, Inc. (NASDAQ:SRDX)

Eisler Capital Management Ltd. purchased a new position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 136,360 shares of the company's stock, valued at approximately $5,394,000. Eisler Capital Management Ltd. owned 0.95% of Surmodics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Gabelli Funds LLC lifted its stake 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 buying an additional 12,250 shares during the period. Gardner Lewis Asset Management L P grew its holdings in Surmodics by 23.5% in the fourth quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company's stock worth $10,410,000 after purchasing an additional 49,944 shares during the period. Hsbc Holdings PLC grew its stake in shares of Surmodics by 2.9% in the 4th 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 during the period. AQR Arbitrage LLC raised its position in shares of Surmodics by 56.4% during the fourth quarter. AQR Arbitrage LLC now owns 205,956 shares of the company's stock worth $8,156,000 after purchasing an additional 74,275 shares during the period. Finally, Bardin Hill Management Partners LP bought a new stake in Surmodics during the 4th quarter valued at $7,440,000. Institutional investors and hedge funds own 96.63% of the company's stock.

Surmodics Stock Performance

SRDX traded up $0.01 during trading hours on Wednesday, hitting $27.83. The stock had a trading volume of 11,529 shares, compared to its average volume of 276,666. The stock has a market cap of $397.94 million, a PE ratio of -27.55 and a beta of 1.32. Surmodics, Inc. has a 1 year low of $26.00 and a 1 year high of $42.44. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26. The company's fifty day simple moving average is $28.75 and its 200 day simple moving average is $34.35.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its quarterly earnings results 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). The company 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%. Equities analysts anticipate that Surmodics, Inc. will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SRDX shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th. Lake Street Capital raised shares of Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price target on the stock in a research report on Friday, March 7th. Finally, StockNews.com initiated coverage on Surmodics in a research note on Monday, February 3rd. They set a "hold" rating for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $43.00.

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).