Surmodics, Inc. (NASDAQ:SRDX) Stock Position Reduced by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP reduced its stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 20.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,405 shares of the company's stock after selling 13,529 shares during the period. ExodusPoint Capital Management LP owned 0.36% of Surmodics worth $2,036,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Modus Advisors LLC bought a new position in Surmodics in the 4th quarter worth approximately $40,000. R Squared Ltd bought a new position in shares of Surmodics in the fourth quarter worth $55,000. SG Americas Securities LLC increased its holdings 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 during the period. New York State Common Retirement Fund raised its stake in shares of Surmodics by 12.4% during the fourth quarter. New York State Common Retirement Fund now owns 19,544 shares of the company's stock valued at $774,000 after purchasing an additional 2,162 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Surmodics by 4.4% during the fourth quarter. Rhumbline Advisers now owns 20,250 shares of the company's stock valued at $802,000 after purchasing an additional 861 shares in the last quarter. Institutional investors own 96.63% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SRDX shares. StockNews.com began coverage on shares of Surmodics in a report on Monday, February 3rd. They issued a "hold" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a research note on Thursday, January 30th. Finally, Lake Street Capital raised Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price objective 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $50.00.

Surmodics Trading Down 0.3 %

NASDAQ SRDX traded down $0.08 on Monday, hitting $28.42. 2,581 shares of the company were exchanged, compared to its average volume of 280,020. Surmodics, Inc. has a twelve month low of $25.17 and a twelve month high of $42.44. The company's 50 day moving average price is $31.13 and its 200-day moving average price is $35.89. The firm has a market capitalization of $406.22 million, a P/E ratio of -28.13 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.04. 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.

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).