Nuveen LLC Takes $1.26 Million Position in Surmodics, Inc. $SRDX

Key Points

• Nuveen LLC acquired a new stake in Surmodics, purchasing 41,347 shares valued at approximately $1.26 million, representing 0.29% of the company's stock.
• Surmodics reported earnings per share of $0.06 for the latest quarter, surpassing estimates by $0.27, with revenue of $29.57 million exceeding expectations.
• The stock currently holds a consensus rating of "Hold" from analysts, with an average target price of $43.00.

Nuveen LLC purchased a new stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 41,347 shares of the company's stock, valued at approximately $1,262,000. Nuveen LLC owned approximately 0.29% of Surmodics at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Invesco Ltd. boosted its stake in Surmodics by 103.9% in the first quarter. Invesco Ltd. now owns 11,844 shares of the company's stock worth $362,000 after purchasing an additional 6,036 shares in the last quarter. Burren Capital Advisors Ltd acquired a new position in Surmodics in the first quarter worth $1,094,000. Tabor Asset Management LP acquired a new position in Surmodics in the first quarter worth $2,476,000. Principal Financial Group Inc. boosted its stake in Surmodics by 1.8% in the first quarter. Principal Financial Group Inc. now owns 36,699 shares of the company's stock worth $1,120,000 after purchasing an additional 638 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its stake in Surmodics by 1.1% in the first quarter. Salem Investment Counselors Inc. now owns 114,950 shares of the company's stock worth $3,509,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 96.63% of the company's stock.

Wall Street Analysts Forecast Growth

SRDX has been the topic of a number of recent analyst reports. Barrington Research reissued a "market perform" rating on shares of Surmodics in a research note on Monday, August 11th. Zacks Research raised Surmodics to a "hold" rating in a research note 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 data from MarketBeat, Surmodics has an average rating of "Hold" and a consensus target price of $43.00.

Surmodics Trading Down 3.0%

Shares of SRDX stock traded down $1.01 on Friday, reaching $32.38. 99,844 shares of the stock were exchanged, compared to its average volume of 313,362. The stock has a market cap of $463.03 million, a PE ratio of -26.32 and a beta of 1.37. Surmodics, Inc. has a one year low of $26.00 and a one 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 50 day moving average price of $33.85 and a 200 day moving average price of $30.96.

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 analysts' consensus estimates 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 return on equity of 2.99% and a negative net margin of 14.59%. Surmodics has set its FY 2025 guidance at -0.350--0.200 EPS. Equities research analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current fiscal 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).