GABELLI & Co INVESTMENT ADVISERS INC. Increases Stock Holdings in Surmodics, Inc. $SRDX

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Surmodics, Inc. by 51.2%, acquiring an additional 66,150 shares and owning approximately 1.37% of the company, valued at $5.965 million.
• Institutional investors own a substantial majority, 96.63%, of Surmodics' stock, with several firms making significant purchases in the last quarter.
• Recent analyst ratings reflect a consensus of "Hold" for Surmodics, with an average price target of $43.00 per share.

GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 51.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,387 shares of the company's stock after purchasing an additional 66,150 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned 1.37% of Surmodics worth $5,965,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new stake in shares of Surmodics in the 4th quarter valued at $11,880,000. Bardin Hill Management Partners LP acquired a new stake in shares of Surmodics during the fourth quarter worth about $7,440,000. Eisler Capital Management Ltd. acquired a new position in shares of Surmodics in the fourth quarter valued at approximately $5,394,000. Balyasny Asset Management L.P. acquired a new position in shares of Surmodics in the fourth quarter valued at approximately $4,921,000. Finally, Groupe la Francaise purchased a new stake in Surmodics during the 1st quarter worth approximately $3,648,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SRDX shares. Zacks Research raised shares of Surmodics to a "hold" rating in a research report on Tuesday, August 12th. Barrington Research reiterated a "market perform" rating on shares of Surmodics in a report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $43.00.

Surmodics Stock Down 0.8%

NASDAQ SRDX traded down $0.29 on Friday, hitting $34.04. 100,645 shares of the stock were exchanged, compared to its average volume of 324,559. The company has a quick ratio of 3.10, a current ratio of 3.91 and a debt-to-equity ratio of 0.27. Surmodics, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $40.38. The company has a market cap of $486.77 million, a PE ratio of -27.67 and a beta of 1.31. The company has a 50-day moving average price of $33.39 and a 200-day moving average price of $30.96.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.27. The business had revenue of $29.57 million during 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. Sell-side analysts anticipate that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

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).