Surmodics, Inc. (NASDAQ:SRDX) Stake Lowered by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP cut its stake in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 68.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,522 shares of the company's stock after selling 12,027 shares during the quarter. Brevan Howard Capital Management LP's holdings in Surmodics were worth $219,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Balyasny Asset Management L.P. bought a new position in shares of Surmodics during the fourth quarter valued at approximately $4,921,000. Bank of America Corp DE boosted its position in shares of Surmodics by 15.8% during the fourth quarter. Bank of America Corp DE now owns 24,613 shares of the company's stock worth $975,000 after buying an additional 3,351 shares during the period. Bardin Hill Management Partners LP acquired a new position in shares of Surmodics during the fourth quarter worth approximately $7,440,000. Angelo Gordon & CO. L.P. boosted its position in shares of Surmodics by 18.1% during the fourth quarter. Angelo Gordon & CO. L.P. now owns 25,000 shares of the company's stock worth $990,000 after buying an additional 3,840 shares during the period. Finally, AQR Arbitrage LLC boosted its position in shares of 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. 96.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SRDX. StockNews.com began coverage on Surmodics in a research report on Monday, February 3rd. They set a "hold" rating for the company. Lake Street Capital upgraded Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price objective for the company in a research report on Friday, March 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Surmodics presently has a consensus rating of "Hold" and a consensus price target of $43.00.

Surmodics Stock Performance

SRDX opened at $27.09 on Tuesday. The company has a market capitalization of $387.36 million, a price-to-earnings ratio of -26.82 and a beta of 1.32. 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, Inc. has a 1-year low of $26.00 and a 1-year high of $42.44. The business has a 50 day moving average price of $28.79 and a two-hundred day moving average price of $34.40.

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 analysts' consensus estimates of ($0.06) by ($0.07). The firm had revenue of $28.09 million during the quarter, compared to analyst estimates of $32.23 million. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. Research analysts predict that Surmodics, Inc. will post 0.2 EPS for the current fiscal 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).

Want to see what other hedge funds are holding SRDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Surmodics, Inc. (NASDAQ:SRDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.