Wellington Management Group LLP Takes $815,000 Position in Surmodics, Inc. $SRDX

Wellington Management Group LLP bought a new stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,700 shares of the company's stock, valued at approximately $815,000. Wellington Management Group LLP owned 0.19% of Surmodics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SRDX. Price T Rowe Associates Inc. MD acquired a new position in Surmodics during the fourth quarter worth $217,000. DeepCurrents Investment Group LLC acquired a new position in Surmodics during the fourth quarter worth $260,000. Lighthouse Investment Partners LLC acquired a new position in Surmodics during the fourth quarter worth $262,000. Wells Fargo & Company MN grew its holdings in Surmodics by 40.9% during the fourth quarter. Wells Fargo & Company MN now owns 7,032 shares of the company's stock worth $278,000 after acquiring an additional 2,041 shares during the period. Finally, Invesco Ltd. grew its holdings in Surmodics by 103.9% during the first quarter. Invesco Ltd. now owns 11,844 shares of the company's stock worth $362,000 after acquiring an additional 6,036 shares during the period. Institutional investors and hedge funds own 96.63% of the company's stock.

Surmodics Price Performance

SRDX traded down $1.01 during trading on Friday, reaching $32.38. 99,844 shares of the stock were exchanged, compared to its average volume of 313,362. The business's 50 day moving average price is $33.85 and its two-hundred day moving average price is $30.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.91 and a quick ratio of 3.10. The company has a market capitalization of $463.03 million, a price-to-earnings ratio of -26.32 and a beta of 1.37. Surmodics, Inc. has a 1 year low of $26.00 and a 1 year high of $40.38.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.27. Surmodics had a negative return on equity of 2.99% and a negative net margin of 14.59%.The business had revenue of $29.57 million for the quarter, compared to the consensus estimate of $28.04 million. Surmodics has set its FY 2025 guidance at -0.350--0.200 EPS. As a group, equities research analysts anticipate that Surmodics, Inc. will post 0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SRDX. Zacks Research raised Surmodics to a "hold" rating in a report on Tuesday, August 12th. Barrington Research reaffirmed a "market perform" rating on shares of Surmodics in a report on Monday, August 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $43.00.

Surmodics Profile

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).