AQR Arbitrage LLC Purchases 74,275 Shares of Surmodics, Inc. (NASDAQ:SRDX)

AQR Arbitrage LLC lifted its stake in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 56.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,956 shares of the company's stock after buying an additional 74,275 shares during the period. AQR Arbitrage LLC owned about 1.44% of Surmodics worth $8,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Modus Advisors LLC purchased a new stake in shares of Surmodics in the fourth quarter valued at about $40,000. R Squared Ltd purchased a new position in shares of Surmodics in the 4th quarter worth approximately $55,000. 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 valued at $137,000 after acquiring an additional 880 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Surmodics in the 4th quarter valued at $217,000. Finally, Polymer Capital Management US LLC bought a new stake in shares of Surmodics during the 4th quarter worth $255,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SRDX. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th. StockNews.com assumed coverage on Surmodics in a research note on Monday, February 3rd. They issued a "hold" rating on the stock. Finally, Lake Street Capital raised shares of Surmodics from a "hold" rating to a "buy" rating and set a $43.00 target price on the stock in a report on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $43.00.

Surmodics Trading Down 1.0 %

Shares of NASDAQ:SRDX traded down $0.28 on Tuesday, reaching $26.69. 12,591 shares of the company traded hands, compared to its average volume of 276,382. The stock has a market capitalization of $381.64 million, a P/E ratio of -26.43 and a beta of 1.32. Surmodics, Inc. has a 52 week low of $26.00 and a 52 week high of $42.44. The business's 50-day simple moving average is $29.25 and its 200 day simple moving average is $34.78. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The firm had revenue of $28.09 million for the quarter, compared to the consensus estimate of $32.23 million. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. As a group, equities analysts anticipate that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

Surmodics Company 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).