Surmodics, Inc. $SRDX Stock Position Decreased by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL has reduced its stake in Surmodics, Inc. by 11.0%, selling over 15,000 shares and currently owning about 0.90% of the company.
• Surmodics recently reported an earnings per share (EPS) of $0.06, surpassing analysts' expectations of ($0.21) per share, with total revenue of $29.57 million for the quarter.
• Wall Street analysts have a consensus rating of "Hold" for Surmodics, with an average price target of $43.00, reflecting mixed sentiments about the stock's future performance.

Gamco Investors INC. ET AL cut its holdings in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,100 shares of the company's stock after selling 15,848 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.90% of Surmodics worth $3,911,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SRDX. Wells Fargo & Company MN lifted its stake 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 valued at $278,000 after buying an additional 2,041 shares during the period. Legal & General Group Plc lifted its stake in shares of Surmodics by 34.2% during the fourth quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock valued at $137,000 after buying an additional 880 shares during the period. Marshall Wace LLP lifted its stake in shares of Surmodics by 231.0% during the fourth quarter. Marshall Wace LLP now owns 28,135 shares of the company's stock valued at $1,114,000 after buying an additional 19,635 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of Surmodics in the 4th quarter valued at $217,000. Finally, Northern Trust Corp boosted its holdings in shares of Surmodics by 4.4% in the 4th quarter. Northern Trust Corp now owns 135,010 shares of the company's stock valued at $5,346,000 after purchasing an additional 5,673 shares during the last quarter. Hedge funds and other institutional investors own 96.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SRDX shares. Barrington Research reiterated a "market perform" rating on shares of Surmodics in a report on Monday, August 11th. Zacks Research upgraded shares of Surmodics to a "hold" rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $43.00.

Surmodics Stock Up 1.9%

SRDX stock traded up $0.64 during trading on Tuesday, reaching $34.68. The stock had a trading volume of 70,671 shares, compared to its average volume of 192,743. The firm has a fifty day moving average price of $33.49 and a 200 day moving average price of $30.93. The company has a market capitalization of $495.85 million, a P/E ratio of -28.19 and a beta of 1.37. Surmodics, Inc. has a 1-year low of $26.00 and a 1-year high of $40.38. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27.

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

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).