Algert Global LLC Grows Holdings in 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 raised its holdings in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 146.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,122 shares of the company's stock after purchasing an additional 20,862 shares during the period. Algert Global LLC owned 0.25% of Surmodics worth $1,072,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hudson Bay Capital Management LP acquired a new position in shares of Surmodics in the fourth quarter worth $11,880,000. Hsbc Holdings PLC boosted its stake in shares of Surmodics by 2.9% during the fourth quarter. Hsbc Holdings PLC now owns 254,698 shares of the company's stock valued at $10,082,000 after acquiring an additional 7,163 shares during the last quarter. AQR Arbitrage LLC increased its position in Surmodics by 56.4% during the 4th quarter. AQR Arbitrage LLC now owns 205,956 shares of the company's stock worth $8,156,000 after purchasing an additional 74,275 shares in the last quarter. Bardin Hill Management Partners LP acquired a new position in Surmodics in the 4th quarter valued at about $7,440,000. Finally, Squarepoint Ops LLC lifted its holdings in Surmodics by 154.9% in the 4th quarter. Squarepoint Ops LLC now owns 162,066 shares of the company's stock valued at $6,418,000 after purchasing an additional 98,489 shares in the last quarter. Hedge funds and other institutional investors own 96.63% of the company's stock.

Surmodics Trading Down 1.8%

SRDX traded down $0.62 during trading on Tuesday, hitting $34.69. 276,296 shares of the company's stock were exchanged, compared to its average volume of 194,668. The stock has a 50 day moving average price of $32.97 and a 200 day moving average price of $30.93. Surmodics, Inc. has a 1 year low of $26.00 and a 1 year 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 firm has a market cap of $496.00 million, a P/E ratio of -28.20 and a beta of 1.31.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported $0.06 earnings per share 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 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, analysts expect that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SRDX has been the topic of several recent analyst reports. Zacks Research raised shares of Surmodics to a "hold" rating in a research note on Tuesday, August 12th. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a 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 equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $43.00.

About Surmodics

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).