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

Bardin Hill Management Partners LP 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 disclosure with the Securities & Exchange Commission. The firm purchased 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 investment portfolio, making the stock its 7th largest position. Bardin Hill Management Partners LP owned approximately 1.31% of Surmodics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRDX. Modus Advisors LLC purchased a new stake in shares of Surmodics during the fourth quarter valued at approximately $40,000. R Squared Ltd bought a new stake in shares of Surmodics during the 4th quarter valued at about $55,000. Legal & General Group Plc lifted its holdings in shares of Surmodics by 34.2% in the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock worth $137,000 after purchasing an additional 880 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Surmodics during the fourth quarter valued at $217,000. Finally, Polymer Capital Management US LLC bought a new stake in shares of Surmodics during the fourth quarter valued at approximately $255,000. Institutional investors and hedge funds own 96.63% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SRDX. Lake Street Capital raised 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. StockNews.com began coverage on Surmodics in a report on Monday, February 3rd. They issued a "hold" rating for the company. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Surmodics has a consensus rating of "Hold" and a consensus target price of $43.00.

Surmodics Stock Performance

SRDX stock traded down $0.33 during trading on Friday, reaching $26.88. 21,755 shares of the stock were exchanged, compared to its average volume of 276,431. Surmodics, Inc. has a twelve month low of $26.00 and a twelve month high of $42.44. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $384.36 million, a P/E ratio of -26.61 and a beta of 1.32. The stock has a 50 day simple moving average of $28.94 and a 200-day simple moving average of $34.60.

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 analysts' consensus estimates 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 company had revenue of $28.09 million during the quarter, compared to the consensus estimate of $32.23 million. As a group, sell-side analysts anticipate that Surmodics, Inc. will post 0.2 earnings per share 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).