Surmodics, Inc. $SRDX Shares Sold by AQR Arbitrage LLC

AQR Arbitrage LLC cut its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 24.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 156,174 shares of the company’s stock after selling 49,782 shares during the period. AQR Arbitrage LLC owned approximately 1.09% of Surmodics worth $4,640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of Surmodics by 705.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $37,000 after acquiring an additional 1,080 shares during the period. Strs Ohio acquired a new position in shares of Surmodics during the 1st quarter worth approximately $122,000. AlphaQuest LLC purchased a new stake in Surmodics in the 1st quarter valued at approximately $232,000. Creative Planning acquired a new stake in Surmodics during the 2nd quarter valued at $318,000. Finally, Inspire Investing LLC increased its position in Surmodics by 11.3% during the first quarter. Inspire Investing LLC now owns 11,250 shares of the company’s stock worth $343,000 after buying an additional 1,142 shares in the last quarter. Institutional investors and hedge funds own 96.63% of the company’s stock.

Analysts Set New Price Targets

SRDX has been the subject of several recent analyst reports. Barrington Research reaffirmed an “underperform” rating on shares of Surmodics in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surmodics in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Surmodics presently has an average rating of “Reduce” and a consensus price target of $43.00.

Surmodics Price Performance

Shares of NASDAQ SRDX opened at $42.98 on Friday. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $614.53 million, a price-to-earnings ratio of -34.94 and a beta of 1.30. Surmodics, Inc. has a twelve month low of $25.87 and a twelve month high of $43.00. The firm has a 50-day moving average of $34.94 and a two-hundred day moving average of $33.11.

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).