Bardin Hill Management Partners LP Makes New Investment in Surmodics, Inc. (NASDAQ:SRDX)

Bardin Hill Management Partners LP acquired a new position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 187,869 shares of the company's stock, valued at approximately $7,440,000. Surmodics accounts for about 3.5% of Bardin Hill Management Partners LP's portfolio, making the stock its 7th biggest holding. Bardin Hill Management Partners LP owned approximately 1.31% of Surmodics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SRDX. Gabelli Funds LLC increased its position in shares of Surmodics by 3.7% during the fourth quarter. Gabelli Funds LLC now owns 339,959 shares of the company's stock worth $13,462,000 after purchasing an additional 12,250 shares in the last quarter. Gardner Lewis Asset Management L P increased 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 valued at $10,410,000 after buying an additional 49,944 shares in the last quarter. Hsbc Holdings PLC increased its position in Surmodics by 2.9% during 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 in the last quarter. AQR Arbitrage LLC raised its stake in 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 during the last quarter. Finally, Northern Trust Corp boosted its holdings in Surmodics by 4.4% in the fourth quarter. Northern Trust Corp now owns 135,010 shares of the company's stock worth $5,346,000 after acquiring an additional 5,673 shares in the last quarter. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Surmodics Trading Down 0.8 %

NASDAQ:SRDX traded down $0.21 during trading hours on Wednesday, reaching $27.16. 32,646 shares of the stock were exchanged, compared to its average volume of 277,391. The business has a 50-day moving average of $29.13 and a two-hundred day moving average of $34.73. Surmodics, Inc. has a twelve month low of $26.00 and a twelve month high of $42.44. The company has a market capitalization of $388.36 million, a price-to-earnings ratio of -26.89 and a beta of 1.32. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued 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). Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. The company had revenue of $28.09 million for the quarter, compared to analysts' expectations of $32.23 million. On average, equities analysts predict that Surmodics, Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

SRDX has been the topic of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a report on Wednesday, April 30th. Lake Street Capital raised Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price objective for the company in a report on Friday, March 7th. Finally, StockNews.com assumed coverage on Surmodics in a research report on Monday, February 3rd. They set a "hold" rating for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock 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).