ExodusPoint Capital Management LP Lowers Stock Position in Surmodics, Inc. (NASDAQ:SRDX)

ExodusPoint Capital Management LP trimmed its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 20.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,405 shares of the company’s stock after selling 13,529 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Surmodics were worth $2,036,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SRDX. Charles Schwab Investment Management Inc. lifted its position in Surmodics by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock worth $4,511,000 after acquiring an additional 1,491 shares during the period. State Street Corp raised its stake in shares of Surmodics by 19.2% during the third quarter. State Street Corp now owns 374,068 shares of the company’s stock worth $14,506,000 after purchasing an additional 60,240 shares during the last quarter. Barclays PLC grew its position in Surmodics by 16.0% in the 3rd quarter. Barclays PLC now owns 88,750 shares of the company’s stock valued at $3,443,000 after buying an additional 12,271 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in Surmodics in the 3rd quarter valued at $6,593,000. Finally, Principal Financial Group Inc. purchased a new position in Surmodics during the 3rd quarter worth $1,190,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Surmodics Stock Performance

Shares of SRDX opened at $27.36 on Wednesday. The company has a market capitalization of $391.14 million, a PE ratio of -27.09 and a beta of 1.30. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44. The company has a 50-day simple moving average of $31.63 and a 200-day simple moving average of $36.19. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. Equities research analysts predict that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. StockNews.com initiated coverage on Surmodics in a report on Monday, February 3rd. They issued a “hold” rating on the stock. Finally, Lake Street Capital raised Surmodics from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Friday, March 7th. 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, the stock presently has an average rating of “Hold” and an average price target of $50.00.

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).