Alpine Global Management LLC Has $2.60 Million Stake in Surmodics, Inc. $SRDX

Key Points

• Alpine Global Management LLC increased its holdings in Surmodics, Inc. by 70.0%, resulting in ownership of 85,000 shares worth approximately $2.6 million.
• Surmodics reported an earnings per share (EPS) of $0.06 for the last quarter, exceeding analyst expectations by $0.27, and set its FY 2025 EPS guidance between -0.350 to -0.200.
• Analysts currently rate Surmodics stock as a "Hold" with an average target price of $43.00, indicating mixed sentiment among investors.

Alpine Global Management LLC boosted its holdings in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 70.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,000 shares of the company's stock after buying an additional 35,000 shares during the quarter. Surmodics makes up approximately 0.7% of Alpine Global Management LLC's investment portfolio, making the stock its 29th biggest holding. Alpine Global Management LLC owned about 0.59% of Surmodics worth $2,595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SRDX. Hudson Bay Capital Management LP purchased a new stake in shares of Surmodics during the fourth quarter worth about $11,880,000. Bardin Hill Management Partners LP purchased a new stake in shares of Surmodics during the fourth quarter worth about $7,440,000. Eisler Capital Management Ltd. purchased a new stake in shares of Surmodics during the fourth quarter worth about $5,394,000. Balyasny Asset Management L.P. purchased a new stake in shares of Surmodics during the fourth quarter worth about $4,921,000. Finally, Groupe la Francaise purchased a new stake in shares of Surmodics during the first quarter worth about $3,648,000. Hedge funds and other institutional investors own 96.63% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SRDX. Barrington Research reiterated a "market perform" rating on shares of Surmodics in a report on Monday, August 11th. Zacks Research raised shares of Surmodics to a "hold" rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $43.00.

Surmodics Stock Performance

Shares of NASDAQ SRDX traded down $0.51 during midday trading on Friday, hitting $32.89. The company's stock had a trading volume of 44,745 shares, compared to its average volume of 192,904. Surmodics, Inc. has a 1-year low of $26.00 and a 1-year high of $40.38. The firm's fifty day moving average price is $33.78 and its 200-day moving average price is $30.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.10 and a current ratio of 3.91. The firm has a market cap of $470.26 million, a P/E ratio of -26.74 and a beta of 1.37.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued 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 company had revenue of $29.57 million during the quarter, compared to analyst estimates of $28.04 million. Surmodics has set its FY 2025 guidance at -0.350--0.200 EPS. On average, sell-side analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current fiscal 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).