Surmodics, Inc. $SRDX Shares Sold by Hudson Bay Capital Management LP

by · The Cerbat Gem

Hudson Bay Capital Management LP cut its position in Surmodics, Inc. (NASDAQ:SRDX – Free Report) by 14.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 400,000 shares of the company’s stock after selling 64,969 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Surmodics were worth $11,884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in shares of Surmodics by 705.9% in the second quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock valued at $37,000 after purchasing an additional 1,080 shares during the period. BNP Paribas Financial Markets increased its position in Surmodics by 67.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,435 shares of the company’s stock valued at $43,000 after acquiring an additional 579 shares during the period. Tower Research Capital LLC TRC increased its position in Surmodics by 289.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,730 shares of the company’s stock valued at $51,000 after acquiring an additional 1,286 shares during the period. Strs Ohio bought a new stake in Surmodics during the 1st quarter valued at $122,000. Finally, AlphaQuest LLC acquired a new position in Surmodics during the 1st quarter worth $232,000. Institutional investors own 96.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SRDX. Barrington Research restated 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 note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Surmodics presently has an average rating of “Reduce” and an average price target of $43.00.

Get Our Latest Analysis on Surmodics

Surmodics Trading Up 0.4%

Shares of SRDX stock opened at $42.98 on Monday. The stock has a 50-day simple moving average of $34.94 and a 200 day simple moving average of $33.16. The stock has a market capitalization of $614.53 million, a P/E ratio of -34.94 and a beta of 1.30. Surmodics, Inc. has a fifty-two week low of $25.87 and a fifty-two week high of $43.00. The company has a quick ratio of 3.10, a current ratio of 3.91 and a debt-to-equity ratio of 0.27.

Surmodics Company Profile

(Free Report)

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).

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