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

D. E. Shaw & Co. Inc. grew its position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 40.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 125,927 shares of the company's stock after acquiring an additional 36,429 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.88% of Surmodics worth $4,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SRDX. Gabelli Funds LLC boosted its holdings 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 purchasing an additional 12,250 shares during the period. Gardner Lewis Asset Management L P lifted its position in Surmodics by 23.5% in the fourth 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 Surmodics by 2.9% during the fourth 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 period. AQR Arbitrage LLC boosted its stake in Surmodics by 56.4% during the fourth 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 period. Finally, Bardin Hill Management Partners LP bought a new position in Surmodics during the fourth quarter valued at $7,440,000. 96.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on SRDX shares. StockNews.com began coverage on shares of Surmodics in a research note on Monday, February 3rd. They set a "hold" rating for the company. Needham & Company LLC restated a "hold" rating on shares of Surmodics in a research report on Wednesday, April 30th. Finally, 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 research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $43.00.

Surmodics Trading Down 2.0%

Shares of SRDX traded down $0.58 during trading hours on Wednesday, reaching $29.10. 48,101 shares of the company traded hands, compared to its average volume of 276,944. 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 firm has a market cap of $416.10 million, a price-to-earnings ratio of -28.81 and a beta of 1.32. The stock's fifty day moving average price is $28.83 and its 200 day moving average price is $34.04. Surmodics, Inc. has a 12-month low of $26.00 and a 12-month high of $42.44.

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

Surmodics 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).