Algert Global LLC Acquires 20,862 Shares of Surmodics, Inc. $SRDX

Key Points

• Algert Global LLC significantly increased its stake in Surmodics, Inc., acquiring an additional 20,862 shares and totaling 35,122 shares owned, representing a 146.3% increase in the first quarter.
• Surmodics reported earnings of $0.06 per share for the quarter, exceeding estimates and setting FY 2025 guidance at negative EPS, while its stock has shown a 3.0% increase on trading days.
• Analysts have issued a mix of ratings, with the stock averaging a "Hold" rating and a price target of $43.00, indicating cautious optimism about its future performance.

Algert Global LLC lifted its stake in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 146.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,122 shares of the company's stock after acquiring an additional 20,862 shares during the quarter. Algert Global LLC owned about 0.25% of Surmodics worth $1,072,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Legal & General Group Plc lifted its holdings in Surmodics by 34.2% in the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock worth $137,000 after purchasing an additional 880 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Surmodics during the fourth quarter valued at approximately $217,000. DeepCurrents Investment Group LLC bought a new position in shares of Surmodics in the fourth quarter valued at approximately $260,000. Lighthouse Investment Partners LLC bought a new position in shares of Surmodics in the fourth quarter valued at approximately $262,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Surmodics by 40.9% in the fourth quarter. Wells Fargo & Company MN now owns 7,032 shares of the company's stock worth $278,000 after buying an additional 2,041 shares during the last quarter. 96.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SRDX. Zacks Research upgraded shares of Surmodics to a "hold" rating in a research note on Tuesday, August 12th. Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research report on Wednesday, April 30th. Finally, Barrington Research restated 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $43.00.

Surmodics Stock Performance

SRDX stock traded up $0.21 during trading on Thursday, reaching $34.36. 16,151 shares of the stock were exchanged, compared to its average volume of 193,548. Surmodics, Inc. has a twelve month low of $26.00 and a twelve month high of $40.38. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $491.41 million, a P/E ratio of -27.88 and a beta of 1.31. The stock has a 50 day simple moving average of $33.18 and a 200-day simple moving average of $30.98.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.06 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 firm had revenue of $29.57 million during the quarter, compared to analysts' expectations 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 earnings per share for the current year.

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).