AQR Capital Management LLC Cuts Position in Surmodics, Inc. (NASDAQ:SRDX)

AQR Capital Management LLC lessened its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 53.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,228 shares of the company’s stock after selling 23,084 shares during the quarter. AQR Capital Management LLC owned about 0.14% of Surmodics worth $850,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SRDX. Gabelli Funds LLC grew its holdings in Surmodics by 393.7% during the 2nd quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares in the last quarter. Gardner Lewis Asset Management L P purchased a new position in shares of Surmodics in the 2nd quarter worth approximately $8,531,000. Nisa Investment Advisors LLC boosted its holdings in shares of Surmodics by 4,722.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock worth $2,877,000 after purchasing an additional 67,010 shares during the period. Versor Investments LP purchased a new position in shares of Surmodics in the 2nd quarter worth approximately $2,723,000. Finally, Sagefield Capital LP purchased a new position in shares of Surmodics in the 2nd quarter worth approximately $2,350,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com began coverage on Surmodics in a report on Sunday, October 6th. They issued a “hold” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Trading Down 0.2 %

Shares of NASDAQ SRDX opened at $38.57 on Friday. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $39.42 and a two-hundred day simple moving average of $37.27. The firm has a market cap of $550.39 million, a PE ratio of -385.70 and a beta of 1.20. Surmodics, Inc. has a twelve month low of $25.17 and a twelve month high of $42.44.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. The business had revenue of $30.34 million during the quarter, compared to analyst estimates of $30.32 million. Surmodics had a positive return on equity of 3.88% and a negative net margin of 1.16%. Analysts expect that Surmodics, Inc. will post -0.47 earnings per share for the current fiscal year.

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).