Surmodics, Inc. $SRDX Shares Sold by DLD Asset Management LP

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 lessened its stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc increased 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 worth $137,000 after acquiring an additional 880 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Surmodics during the fourth quarter worth $217,000. DeepCurrents Investment Group LLC purchased a new stake in shares of Surmodics during the fourth quarter worth $260,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Surmodics during the fourth quarter worth $262,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Surmodics by 40.9% during the fourth quarter. Wells Fargo & Company MN now owns 7,032 shares of the company's stock worth $278,000 after buying an additional 2,041 shares in the last quarter. Hedge funds and other institutional investors own 96.63% of the company's stock.

Surmodics Trading Down 3.3%

Shares of SRDX stock traded down $1.24 on Monday, hitting $35.95. 52,764 shares of the stock traded hands, compared to its average volume of 193,517. The firm's 50-day moving average price is $32.86 and its two-hundred day moving average price is $30.92. 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 capitalization of $514.09 million, a PE ratio of -29.23 and a beta of 1.31. Surmodics, Inc. has a twelve month low of $26.00 and a twelve 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 earnings per share 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 analysts' expectations 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. As a group, analysts anticipate that Surmodics, Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SRDX. Zacks Research raised shares of Surmodics to a "hold" rating in a report on Tuesday, August 12th. Barrington Research reaffirmed a "market perform" rating on shares of Surmodics in a report on Monday, August 11th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a report on Wednesday, April 30th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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).