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

D. E. Shaw & Co. Inc. increased its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,927 shares of the company’s stock after buying an additional 36,429 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Surmodics were worth $4,987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DeepCurrents Investment Group LLC acquired a new position in Surmodics during the 4th quarter worth approximately $260,000. Balyasny Asset Management L.P. acquired a new position in Surmodics during the fourth quarter worth $4,921,000. Bank of America Corp DE grew its position in Surmodics by 15.8% in the fourth quarter. Bank of America Corp DE now owns 24,613 shares of the company’s stock valued at $975,000 after purchasing an additional 3,351 shares in the last quarter. Bardin Hill Management Partners LP acquired a new stake in Surmodics in the 4th quarter valued at $7,440,000. Finally, Angelo Gordon & CO. L.P. lifted its position in Surmodics by 18.1% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 96.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on 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 report on Friday, March 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Wednesday, April 30th. Finally, StockNews.com initiated coverage on Surmodics in a report on Monday, February 3rd. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.

Surmodics Trading Up 2.0%

Surmodics stock opened at $28.58 on Friday. The stock has a 50-day simple moving average of $28.75 and a 200 day simple moving average of $34.16. The stock has a market capitalization of $408.67 million, a P/E ratio of -28.30 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. Surmodics, Inc. has a 52 week low of $26.00 and a 52 week high of $42.44.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, April 30th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. The business had revenue of $28.09 million for the quarter, compared to the consensus estimate of $32.23 million. Analysts expect 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).