D. E. Shaw & Co. Inc. Acquires 36,429 Shares of Surmodics, Inc. (NASDAQ:SRDX)

D. E. Shaw & Co. Inc. raised its holdings in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 40.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 125,927 shares of the company's stock after purchasing an additional 36,429 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.88% of Surmodics worth $4,987,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Gabelli Funds LLC boosted its stake in shares of Surmodics by 3.7% in the 4th quarter. Gabelli Funds LLC now owns 339,959 shares of the company's stock worth $13,462,000 after buying an additional 12,250 shares during the last quarter. Gardner Lewis Asset Management L P boosted its stake in shares of Surmodics by 23.5% in the 4th quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company's stock worth $10,410,000 after buying an additional 49,944 shares during the last quarter. Hsbc Holdings PLC boosted 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 worth $10,082,000 after buying an additional 7,163 shares during the last quarter. AQR Arbitrage LLC boosted its stake in shares of Surmodics by 56.4% in the 4th quarter. AQR Arbitrage LLC now owns 205,956 shares of the company's stock worth $8,156,000 after buying an additional 74,275 shares during the last quarter. Finally, Bardin Hill Management Partners LP purchased a new position in shares of Surmodics in the 4th quarter worth $7,440,000. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SRDX shares. Wall Street Zen started coverage on Surmodics in a research note on Monday, February 3rd. They issued a "hold" rating on the stock. Needham & Company LLC restated a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th. Finally, Lake Street Capital upgraded Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price target on the stock in a research note on Friday, March 7th. Four investment 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 price target of $43.00.

Surmodics Stock Performance

NASDAQ SRDX traded down $0.46 on Friday, hitting $28.70. 89,263 shares of the company traded hands, compared to its average volume of 278,695. The company has a market capitalization of $410.38 million, a price-to-earnings ratio of -28.42 and a beta of 1.32. 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 business's 50 day moving average price is $28.84 and its 200-day moving average price is $33.89. Surmodics, Inc. has a 52-week low of $26.00 and a 52-week high of $42.44.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its 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 for 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 expect that Surmodics, Inc. will post 0.2 earnings per share for the current 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).