Groupe la Francaise Takes $3.65 Million Position in Surmodics, Inc. $SRDX

Key Points

• Groupe la Francaise acquired 119,500 shares of Surmodics, Inc. for approximately $3.65 million, representing about 0.84% of the company, highlighting growing institutional interest in the stock.
• Surmodics recently reported earnings of $0.06 per share, beating the consensus estimate of ($0.21) by $0.27, with revenues of $29.57 million for the quarter.
• The stock currently has a consensus rating of "Hold," with a target price of $43.00, indicating cautious sentiment among analysts regarding its future performance.

Groupe la Francaise acquired a new position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 119,500 shares of the company's stock, valued at approximately $3,648,000. Groupe la Francaise owned about 0.84% of Surmodics as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in Surmodics by 77.8% in the 4th quarter. Deutsche Bank AG now owns 42,683 shares of the company's stock worth $1,690,000 after acquiring an additional 18,671 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Surmodics by 40.9% in the 4th quarter. Wells Fargo & Company MN now owns 7,032 shares of the company's stock worth $278,000 after acquiring an additional 2,041 shares during the last quarter. Bardin Hill Management Partners LP purchased a new position in Surmodics in the 4th quarter worth approximately $7,440,000. Hudson Bay Capital Management LP purchased a new position in Surmodics in the 4th quarter worth approximately $11,880,000. Finally, Marshall Wace LLP raised its holdings in Surmodics by 231.0% in the 4th quarter. Marshall Wace LLP now owns 28,135 shares of the company's stock worth $1,114,000 after acquiring an additional 19,635 shares during the last quarter. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Surmodics Stock Performance

Shares of SRDX stock traded down $0.62 during mid-day trading on Tuesday, reaching $34.69. 276,296 shares of the company's stock traded hands, compared to its average volume of 345,327. Surmodics, Inc. has a 12 month low of $26.00 and a 12 month high of $40.38. The firm has a 50 day moving average price of $33.08 and a two-hundred day moving average price of $30.96. 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 firm has a market capitalization of $496.07 million, a PE ratio of -28.20 and a beta of 1.31.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.06 earnings per share (EPS) 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 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, research analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

SRDX has been the subject of a number of recent analyst reports. Needham & Company LLC restated 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 report on Monday, August 11th. Finally, 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 stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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).