Credit Industriel ET Commercial Decreases Stake in Surmodics, Inc. $SRDX

Key Points

• Credit Industriel ET Commercial reduced its stake in Surmodics, Inc. by 30.8% during the 2nd quarter, leaving it with a total of 59,200 shares valued at approximately $1.76 million.
• Institutional investors now hold 96.63% of Surmodics' stock, with several firms making significant increases in their stakes, including Millennium Management LLC and GABELLI & Co.
• Surmodics reported a quarterly EPS of $0.06, exceeding estimates, and has set a fiscal year 2025 guidance of -0.350 to -0.200 EPS, indicating ongoing challenges.

Credit Industriel ET Commercial decreased its position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 30.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,200 shares of the company's stock after selling 26,300 shares during the period. Credit Industriel ET Commercial owned 0.41% of Surmodics worth $1,759,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SRDX. Groupe la Francaise purchased a new stake in Surmodics in the 1st quarter valued at about $3,648,000. Millennium Management LLC increased its stake in Surmodics by 71.6% in the 1st quarter. Millennium Management LLC now owns 206,487 shares of the company's stock valued at $6,304,000 after buying an additional 86,143 shares during the last quarter. Tabor Asset Management LP purchased a new stake in Surmodics in the 1st quarter valued at about $2,476,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Surmodics by 51.2% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 195,387 shares of the company's stock valued at $5,965,000 after buying an additional 66,150 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in Surmodics by 16.3% in the 1st quarter. Gabelli Funds LLC now owns 395,509 shares of the company's stock valued at $12,075,000 after buying an additional 55,550 shares during the last quarter. Hedge funds and other institutional investors own 96.63% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SRDX. Weiss Ratings reiterated a "sell (d-)" rating on shares of Surmodics in a research note on Wednesday, October 8th. Barrington Research reissued a "market perform" rating on shares of Surmodics in a research report on Monday, August 11th. Finally, Zacks Research raised shares of Surmodics to a "hold" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $43.00.

Surmodics Stock Down 2.5%

SRDX opened at $27.92 on Tuesday. The company has a 50 day moving average of $33.05 and a 200 day moving average of $30.90. The company has a market cap of $399.26 million, a PE ratio of -22.70 and a beta of 1.31. Surmodics, Inc. has a 12 month low of $26.00 and a 12 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.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.27. The company had revenue of $29.57 million during the quarter, compared to the consensus estimate of $28.04 million. Surmodics had a negative net margin of 14.59% and a negative return on equity of 2.99%. 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 EPS 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).

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