Gamco Investors INC. ET AL Cuts Stake in Surmodics, Inc. $SRDX

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 reduced its holdings in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 11.0% during the first quarter, according to its most recent disclosure 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 period. Gamco Investors INC. ET AL owned about 0.90% of Surmodics worth $3,911,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SRDX. Legal & General Group Plc boosted its stake in shares of Surmodics by 34.2% in the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock valued at $137,000 after purchasing an additional 880 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Surmodics in the 4th quarter worth $217,000. DeepCurrents Investment Group LLC purchased a new position in Surmodics in the 4th quarter worth $260,000. Lighthouse Investment Partners LLC bought a new stake in Surmodics in the fourth quarter worth $262,000. Finally, Wells Fargo & Company MN boosted its position in 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. 96.63% of the stock is owned by hedge funds and other institutional investors.

Surmodics Trading Down 1.6%

NASDAQ SRDX opened at $34.15 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.10 and a current ratio of 3.91. Surmodics, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $40.38. The stock has a market cap of $488.35 million, a P/E ratio of -27.76 and a beta of 1.31. The stock has a 50 day simple moving average of $33.18 and a two-hundred day simple moving average of $30.98.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.27. Surmodics had a negative return on equity of 2.99% and a negative net margin of 14.59%.The company had revenue of $29.57 million during the quarter, compared to the consensus estimate of $28.04 million. Surmodics has set its FY 2025 guidance at -0.350--0.200 EPS. On average, analysts forecast that Surmodics, Inc. will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SRDX has been the topic of several analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a report on Wednesday, April 30th. Barrington Research restated a "market perform" rating on shares of Surmodics in a research report on Monday, August 11th. Finally, Zacks Research upgraded Surmodics to a "hold" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $43.00.

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).

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