DLD Asset Management LP Sells 15,623 Shares of 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 stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 24.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 hedge funds and other institutional investors have also modified their holdings of the stock. Gabelli Funds LLC boosted its position in shares of 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 purchasing an additional 55,550 shares during the period. Hsbc Holdings PLC boosted its position in Surmodics by 4.8% during the 1st quarter. Hsbc Holdings PLC now owns 267,042 shares of the company's stock worth $8,252,000 after acquiring an additional 12,344 shares during the period. Millennium Management LLC boosted its position in Surmodics by 71.6% during the 1st quarter. Millennium Management LLC now owns 206,487 shares of the company's stock worth $6,304,000 after acquiring an additional 86,143 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Surmodics by 51.2% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 195,387 shares of the company's stock worth $5,965,000 after acquiring an additional 66,150 shares during the period. Finally, Squarepoint Ops LLC boosted its position in Surmodics by 154.9% during the 4th quarter. Squarepoint Ops LLC now owns 162,066 shares of the company's stock worth $6,418,000 after acquiring an additional 98,489 shares during the period. Institutional investors and hedge funds own 96.63% of the company's stock.

Surmodics Stock Performance

NASDAQ SRDX traded up $0.01 during trading on Wednesday, hitting $31.93. The company's stock had a trading volume of 70,942 shares, compared to its average volume of 190,087. The company has a quick ratio of 3.10, a current ratio of 3.91 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $34.23 and a 200 day moving average price of $30.83. The firm has a market cap of $456.60 million, a P/E ratio of -25.96 and a beta of 1.37. Surmodics, Inc. has a 52 week low of $26.00 and a 52 week high of $40.38.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued 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. The company had revenue of $29.57 million for the quarter, compared to the consensus estimate of $28.04 million. Surmodics had a negative return on equity of 2.99% and a negative net margin of 14.59%. Surmodics has set its FY 2025 guidance at -0.350--0.200 EPS. Equities research analysts forecast that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SRDX shares. Barrington Research restated a "market perform" rating on shares of Surmodics in a research report on Monday, August 11th. Zacks Research upgraded Surmodics to a "hold" rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently 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).