DLD Asset Management LP Sells 15,623 Shares of Surmodics, Inc. $SRDX

Key Points

• DLD Asset Management LP reduced its stake in Surmodics, Inc. by 24.6%, selling 15,623 shares, leaving it with 47,868 shares valued at approximately $1.46 million.
• Surmodics recently reported earnings of $0.06 per share, exceeding analysts' expectations, and set a fiscal year 2025 guidance of -0.350 to -0.200 EPS.
• Analysts have mixed ratings for Surmodics with an average rating of "Hold" and a price target of $43.00.

DLD Asset Management LP trimmed its position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 24.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and 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 approximately 0.33% of Surmodics worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of SRDX. Hudson Bay Capital Management LP acquired a new position in shares of Surmodics during the fourth quarter worth approximately $11,880,000. Bardin Hill Management Partners LP acquired a new position in shares of Surmodics during the fourth quarter worth approximately $7,440,000. Eisler Capital Management Ltd. acquired a new position in shares of Surmodics during the fourth quarter worth approximately $5,394,000. Balyasny Asset Management L.P. acquired a new position in shares of Surmodics during the fourth quarter worth approximately $4,921,000. Finally, Squarepoint Ops LLC lifted its position in shares of Surmodics by 154.9% during the fourth quarter. Squarepoint Ops LLC now owns 162,066 shares of the company's stock worth $6,418,000 after purchasing an additional 98,489 shares in the last quarter. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Surmodics Stock Up 1.2%

Shares of NASDAQ SRDX opened at $37.34 on Wednesday. Surmodics, Inc. has a 52-week low of $26.00 and a 52-week high of $40.38. 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 stock has a market cap of $533.89 million, a P/E ratio of -30.36 and a beta of 1.31. The firm has a 50 day moving average price of $32.40 and a 200 day moving average price of $30.89.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SRDX shares. Barrington Research reiterated a "market perform" rating on shares of Surmodics in a research report on Monday, August 11th. Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th. Finally, Zacks Research raised shares of 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 given a Hold rating to the stock. Based on data from MarketBeat.com, Surmodics presently has an average rating of "Hold" and an average price target of $43.00.

Surmodics Company 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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