Surmodics, Inc. $SRDX Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its holdings in Surmodics, Inc. by 74.6%, now owning 10,850 shares valued at approximately $331,000.
• Analysts have issued varying ratings on Surmodics, with an average price target of $43.00 and a consensus rating of "Hold."
• Surmodics reported positive quarterly earnings of $0.06 per share, exceeding forecasts by $0.27, with a revenue of $29.57 million.

Deutsche Bank AG lessened its stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 74.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,850 shares of the company's stock after selling 31,833 shares during the period. Deutsche Bank AG owned 0.08% of Surmodics worth $331,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SRDX. Wells Fargo & Company MN boosted its holdings in Surmodics by 40.9% in the 4th quarter. Wells Fargo & Company MN now owns 7,032 shares of the company's stock valued at $278,000 after purchasing an additional 2,041 shares in the last quarter. Legal & General Group Plc boosted 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 valued at $137,000 after purchasing an additional 880 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Surmodics in the 4th quarter valued at approximately $217,000. Northern Trust Corp boosted its holdings in Surmodics by 4.4% in the 4th quarter. Northern Trust Corp now owns 135,010 shares of the company's stock valued at $5,346,000 after purchasing an additional 5,673 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Surmodics in the 4th quarter valued at approximately $2,639,000. Hedge funds and other institutional investors own 96.63% of the company's stock.

Surmodics Price Performance

Shares of NASDAQ:SRDX traded down $0.31 during trading on Wednesday, hitting $34.03. 162,394 shares of the stock were exchanged, compared to its average volume of 301,168. The company has a fifty day moving average price of $33.70 and a two-hundred day moving average price of $30.98. The company has a market cap of $486.63 million, a PE ratio of -27.67 and a beta of 1.37. 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, Inc. has a 12-month low of $26.00 and a 12-month high of $40.38.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on SRDX. Barrington Research reaffirmed a "market perform" rating on shares of Surmodics in a report on Monday, August 11th. Zacks Research raised Surmodics to a "hold" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Surmodics has an average rating of "Hold" and an average price target 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).