Hsbc Holdings PLC Purchases 12,344 Shares of Surmodics, Inc. $SRDX

Key Points

• Hsbc Holdings PLC has increased its stake in Surmodics, Inc. by 4.8%, holding 267,042 shares valued at approximately $8.25 million after acquiring an additional 12,344 shares.
• Several institutional investors have also raised their stakes in Surmodics, with Wells Fargo & Company increasing its position by 40.9% in the fourth quarter, reflecting strong institutional interest in the company.
• Surmodics reported earnings of $0.06 per share for the last quarter, exceeding analysts' expectations of a negative EPS, and had revenue of $29.57 million against estimates of $28.04 million.

Hsbc Holdings PLC boosted its position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 267,042 shares of the company's stock after purchasing an additional 12,344 shares during the period. Hsbc Holdings PLC owned 1.87% of Surmodics worth $8,252,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Maven Securities LTD acquired a new stake in Surmodics during the first quarter valued at $366,000. Wellington Management Group LLP acquired a new stake in Surmodics during the first quarter valued at $815,000. Algert Global LLC boosted its position in Surmodics by 146.3% during the first quarter. Algert Global LLC now owns 35,122 shares of the company's stock valued at $1,072,000 after purchasing an additional 20,862 shares during the last quarter. Nuveen LLC acquired a new stake in Surmodics during the first quarter valued at $1,262,000. Finally, Invesco Ltd. boosted its position in Surmodics by 103.9% during the first quarter. Invesco Ltd. now owns 11,844 shares of the company's stock valued at $362,000 after purchasing an additional 6,036 shares during the last quarter. Institutional investors and hedge funds own 96.63% of the company's stock.

Surmodics Stock Performance

Shares of NASDAQ SRDX traded down $0.29 during trading hours on Friday, hitting $34.04. 100,645 shares of the company's stock were exchanged, compared to its average volume of 324,559. Surmodics, Inc. has a 1-year low of $26.00 and a 1-year high of $40.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.91 and a quick ratio of 3.10. The stock has a market capitalization of $486.77 million, a price-to-earnings ratio of -27.67 and a beta of 1.31. The company's 50-day moving average price is $33.39 and its 200-day moving average price is $30.96.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $29.57 million for the quarter, compared to analyst estimates of $28.04 million. Surmodics has set its FY 2025 guidance at -0.350--0.200 EPS. On average, sell-side analysts expect that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barrington Research reaffirmed a "market perform" rating on shares of Surmodics in a research report on Monday, August 11th. Zacks Research raised 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 data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $43.00.

About Surmodics

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).