AlphaQuest LLC Acquires Shares of 7,583 Surmodics, Inc. $SRDX

Key Points

• AlphaQuest LLC acquired 7,583 shares of Surmodics, Inc. in Q1, totaling approximately $232,000, bringing their ownership to around 0.05% of the company.
• Several institutional investors increased their stakes in Surmodics, with Wells Fargo raising its position by 40.9%, further demonstrating confidence in the stock.
• Surmodics reported a positive earnings surprise in its latest quarterly results, with an EPS of $0.06 compared to an expected loss of ($0.21), alongside revenue of $29.57 million exceeding estimates.

AlphaQuest LLC bought a new position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,583 shares of the company's stock, valued at approximately $232,000. AlphaQuest LLC owned approximately 0.05% of Surmodics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC boosted its stake in Surmodics by 0.4% in the 4th quarter. Millennium Management LLC now owns 120,344 shares of the company's stock valued at $4,766,000 after buying an additional 509 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Surmodics by 1.8% during the first quarter. Principal Financial Group Inc. now owns 36,699 shares of the company's stock valued at $1,120,000 after acquiring an additional 638 shares during the period. Legal & General Group Plc boosted its stake in shares of Surmodics by 34.2% in the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock valued at $137,000 after purchasing an additional 880 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Surmodics by 1.1% in the 1st quarter. Salem Investment Counselors Inc. now owns 114,950 shares of the company's stock valued at $3,509,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Surmodics by 40.9% in the 4th quarter. Wells Fargo & Company MN now owns 7,032 shares of the company's stock worth $278,000 after purchasing an additional 2,041 shares during the last quarter. Institutional investors own 96.63% of the company's stock.

Surmodics Price Performance

Shares of Surmodics stock traded down $0.64 during trading on Thursday, reaching $33.39. The company's stock had a trading volume of 199,386 shares, compared to its average volume of 311,851. The stock has a 50-day moving average price of $33.78 and a two-hundred day moving average price of $30.97. The stock has a market capitalization of $477.48 million, a P/E ratio of -27.15 and a beta of 1.37. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27. Surmodics, Inc. has a one year low of $26.00 and a one 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 EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.27. Surmodics had a negative net margin of 14.59% and a negative return on equity of 2.99%. The firm had revenue of $29.57 million for the quarter, compared to analyst estimates of $28.04 million. Surmodics has set its FY 2025 guidance at -0.350--0.200 EPS. As a group, sell-side analysts anticipate that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SRDX shares. Zacks Research raised shares of 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 equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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).