Surmodics downgraded to Market Perform from Outperform at Barrington

Barrington downgraded Surmodics to Market Perform from Outperform after the company announced an agreement to be acquired by private equity firm GTCR for $43 per share, or $627M. The firm is “less than thrilled by this takeout offer” and says it is “hopeful” that better offers will emerge for Surmodics in the coming weeks given the significant inherent value Barrington sees in the company’s assets, the analyst tells investors.