Hsbc Holdings PLC Increases Stake in 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 Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 4.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 267,042 shares of the company's stock after acquiring an additional 12,344 shares during the period. Hsbc Holdings PLC owned 1.87% of Surmodics worth $8,252,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SRDX. Legal & General Group Plc increased its stake in shares of Surmodics by 34.2% in the fourth quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock worth $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 valued at approximately $217,000. DeepCurrents Investment Group LLC bought a new stake in Surmodics during the 4th quarter valued at $260,000. Lighthouse Investment Partners LLC bought a new stake in Surmodics during the 4th quarter valued at $262,000. Finally, Wells Fargo & Company MN lifted its position 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 worth $278,000 after acquiring an additional 2,041 shares in the last quarter. 96.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SRDX shares. Barrington Research reiterated a "market perform" rating on shares of Surmodics in a research report on Monday, August 11th. Needham & Company LLC restated a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th. Finally, Zacks Research raised 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 given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $43.00.

Surmodics Trading Up 3.0%

Shares of SRDX stock opened at $37.19 on Monday. The company has a market capitalization of $531.82 million, a PE ratio of -30.24 and a beta of 1.31. Surmodics, Inc. has a 52-week low of $26.00 and a 52-week high of $40.38. The business's fifty day moving average is $32.86 and its 200 day moving average is $30.92. 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 (NASDAQ:SRDX - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported $0.06 earnings per share for the quarter, topping 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 business 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, equities research 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).

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