Balyasny Asset Management L.P. Takes $4.92 Million Position in Surmodics, Inc. (NASDAQ:SRDX)

Balyasny Asset Management L.P. acquired a new position in Surmodics, Inc. (NASDAQ:SRDX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 124,265 shares of the company’s stock, valued at approximately $4,921,000. Balyasny Asset Management L.P. owned about 0.87% of Surmodics as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SRDX. R Squared Ltd purchased a new position in Surmodics in the fourth quarter worth $55,000. Legal & General Group Plc grew its stake in Surmodics by 34.2% during the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company’s stock worth $137,000 after buying an additional 880 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Surmodics during the 4th quarter worth $217,000. Polymer Capital Management US LLC acquired a new position in Surmodics during the 4th quarter valued at about $255,000. Finally, SG Americas Securities LLC raised its stake in Surmodics by 22.1% in the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock valued at $275,000 after buying an additional 1,255 shares during the last quarter. Institutional investors own 96.63% of the company’s stock.

Analysts Set New Price Targets

SRDX has been the topic of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Wednesday, April 30th. StockNews.com initiated coverage on shares of Surmodics in a research note on Monday, February 3rd. They set a “hold” rating on the stock. Finally, Lake Street Capital raised shares of Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Surmodics presently has a consensus rating of “Hold” and a consensus target price of $43.00.

Surmodics Stock Performance

Shares of NASDAQ SRDX opened at $26.76 on Friday. The company has a 50 day simple moving average of $28.87 and a two-hundred day simple moving average of $34.50. The stock has a market cap of $382.64 million, a price-to-earnings ratio of -26.50 and a beta of 1.32. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. Surmodics, Inc. has a 12 month low of $26.00 and a 12 month high of $42.44.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share 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 return on equity of 4.39% and a negative net margin of 11.48%. As a group, analysts predict that Surmodics, Inc. will post 0.2 earnings per share for the current 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).