Surmodics, Inc. $SRDX Stake Cut by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its stake in Surmodics, Inc. by 16.0%, owning approximately 5.94% of the company, valued at $25.93 million as of the latest reporting period.
• Recent analyst reports show mixed ratings for Surmodics, with an average rating of “Hold” and a price target of $43.00; one analyst has given a Buy recommendation.
• Surmodics reported earnings of $0.06 per share for the last quarter, surpassing estimates, despite a forecast of negative earnings per share for FY 2025.

Alliancebernstein L.P. trimmed its holdings in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 16.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 849,354 shares of the company's stock after selling 161,908 shares during the period. Alliancebernstein L.P. owned about 5.94% of Surmodics worth $25,931,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new position in shares of Surmodics in the 4th quarter valued at approximately $217,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Surmodics during the 4th quarter valued at approximately $262,000. AlphaQuest LLC acquired a new stake in shares of Surmodics during the 1st quarter valued at approximately $232,000. Invesco Ltd. raised its position in shares of Surmodics by 103.9% during the 1st quarter. Invesco Ltd. now owns 11,844 shares of the company's stock valued at $362,000 after acquiring an additional 6,036 shares in the last quarter. Finally, Maven Securities LTD acquired a new stake in shares of Surmodics during the 1st quarter valued at approximately $366,000. 96.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SRDX. Zacks Research raised Surmodics to a "hold" rating in a research report on Tuesday, August 12th. Barrington Research reissued a "market perform" rating on shares of Surmodics in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $43.00.

Surmodics Price Performance

Shares of Surmodics stock traded down $0.04 during trading on Monday, hitting $31.93. The stock had a trading volume of 13,623 shares, compared to its average volume of 190,368. 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 firm has a market cap of $456.53 million, a P/E ratio of -25.96 and a beta of 1.37. The business has a fifty day moving average of $34.14 and a two-hundred day moving average of $30.83. Surmodics, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $40.38.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its 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 business had revenue of $29.57 million during the quarter, compared to the consensus estimate of $28.04 million. Surmodics has set its FY 2025 guidance at -0.350--0.200 EPS. On average, sell-side analysts expect that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

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).