DLD Asset Management LP Cuts Stock Holdings in Surmodics, Inc. $SRDX

Key Points

• DLD Asset Management LP has reduced its shareholding in Surmodics, Inc. by 24.6%, selling 15,623 shares and retaining 47,868 shares valued at approximately $1.46 million.
• Surmodics reported a $0.06 EPS for the most recent quarter, surpassing estimates, with a revenue of $29.57 million compared to a projected $28.04 million.
• The stock currently holds an average rating of "Hold" from analysts, with a consensus price target of $43.00.

DLD Asset Management LP decreased its position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 24.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,868 shares of the company's stock after selling 15,623 shares during the quarter. DLD Asset Management LP owned 0.33% of Surmodics worth $1,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Surmodics during the first quarter valued at approximately $122,000. Murchinson Ltd. boosted its holdings in Surmodics by 5.8% in the first quarter. Murchinson Ltd. now owns 52,981 shares of the company's stock worth $1,618,000 after purchasing an additional 2,900 shares during the last quarter. Millennium Management LLC boosted its holdings in Surmodics by 71.6% in the first quarter. Millennium Management LLC now owns 206,487 shares of the company's stock worth $6,304,000 after purchasing an additional 86,143 shares during the last quarter. Alpine Global Management LLC boosted its holdings in Surmodics by 70.0% in the first quarter. Alpine Global Management LLC now owns 85,000 shares of the company's stock worth $2,595,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Angelo Gordon & CO. L.P. boosted its holdings in Surmodics by 60.0% in the first quarter. Angelo Gordon & CO. L.P. now owns 40,000 shares of the company's stock worth $1,221,000 after purchasing an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 96.63% of the company's stock.

Surmodics Stock Up 0.5%

Shares of SRDX stock opened at $32.27 on Friday. The company has a market capitalization of $461.46 million, a price-to-earnings ratio of -26.24 and a beta of 1.37. Surmodics, Inc. has a one year low of $26.00 and a one year high of $40.38. The company's fifty day moving average price is $34.10 and its 200-day moving average price is $30.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.91 and a quick ratio of 3.10.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.27. The firm had revenue of $29.57 million for 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. Sell-side 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 research reports. Zacks Research upgraded shares of Surmodics to a "hold" rating in a report on Tuesday, August 12th. Barrington Research restated a "market perform" rating on shares of Surmodics in a report on Monday, August 11th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Surmodics has an average rating of "Hold" and a consensus price target of $43.00.

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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