124,265 Shares in Surmodics, Inc. (NASDAQ:SRDX) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 124,265 shares of the company's stock, valued at approximately $4,921,000. Balyasny Asset Management L.P. owned about 0.87% of Surmodics as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SRDX. Bardin Hill Management Partners LP acquired a new stake in Surmodics during the fourth quarter worth approximately $7,440,000. Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of Surmodics in the fourth quarter valued at approximately $3,899,000. Cigogne Management SA acquired a new stake in shares of Surmodics in the fourth quarter valued at approximately $3,109,000. AQR Arbitrage LLC raised its position in shares of Surmodics by 56.4% in the fourth quarter. AQR Arbitrage LLC now owns 205,956 shares of the company's stock valued at $8,156,000 after buying an additional 74,275 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Surmodics in the fourth quarter valued at approximately $2,639,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SRDX shares. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a research 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 target for the company in a research report on Friday, March 7th. Finally, StockNews.com started coverage on shares of Surmodics in a research report on Monday, February 3rd. They issued a "hold" rating for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $43.00.

Surmodics Price Performance

SRDX traded up $0.21 during trading on Friday, hitting $28.24. 11,820 shares of the stock traded hands, compared to its average volume of 275,945. Surmodics, Inc. has a twelve month low of $26.00 and a twelve month high of $42.44. The company has a market cap of $403.80 million, a price-to-earnings ratio of -27.96 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. The business has a 50 day moving average price of $28.73 and a 200 day moving average price of $34.24.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced 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). Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. The firm had revenue of $28.09 million for the quarter, compared to analyst estimates of $32.23 million. Equities research analysts forecast that Surmodics, Inc. will post 0.2 earnings per share 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).