Schonfeld Strategic Advisors LLC Makes New $2.64 Million Investment in Surmodics, Inc. (NASDAQ:SRDX)

Schonfeld Strategic Advisors LLC acquired a new stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 66,649 shares of the company's stock, valued at approximately $2,639,000. Schonfeld Strategic Advisors LLC owned 0.47% of Surmodics at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SRDX. Barclays PLC grew its position in shares of Surmodics by 16.0% during the 3rd quarter. Barclays PLC now owns 88,750 shares of the company's stock worth $3,443,000 after buying an additional 12,271 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Surmodics in the 3rd quarter valued at about $1,190,000. JPMorgan Chase & Co. lifted its position in shares of Surmodics by 192.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company's stock worth $1,647,000 after purchasing an additional 27,960 shares during the period. SG Americas Securities LLC boosted its stake in shares of Surmodics by 22.1% during the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company's stock valued at $275,000 after purchasing an additional 1,255 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Surmodics during the fourth quarter valued at approximately $55,000. 96.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SRDX has been the subject of a number of analyst reports. StockNews.com began coverage on Surmodics in a report on Monday, February 3rd. They set a "hold" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a research report on Wednesday, April 30th. Finally, Lake Street Capital upgraded shares of Surmodics from a "hold" rating to a "buy" rating and set a $43.00 target price for the company in a report 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, Surmodics has an average rating of "Hold" and a consensus target price of $43.00.

Surmodics Stock Down 1.7 %

Shares of SRDX stock traded down $0.45 during trading hours on Friday, reaching $26.76. 37,501 shares of the company's stock were exchanged, compared to its average volume of 278,386. 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 cap of $382.64 million, a price-to-earnings ratio of -26.50 and a beta of 1.32. Surmodics, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $42.44. The stock's 50 day moving average is $28.87 and its 200-day moving average is $34.50.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted 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 company had revenue of $28.09 million for the quarter, compared to analyst estimates of $32.23 million. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. Analysts predict that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal 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).