Surmodics (NASDAQ:SRDX) Announces Quarterly Earnings Results

Key Points

• Surmodics (NASDAQ:SRDX) reported earnings of $0.06 per share, significantly exceeding estimates by $0.27, with revenues also surpassing expectations at $29.57 million.
• The company updated its FY 2025 guidance to a range of -0.350 to -0.200 EPS, indicating ongoing financial challenges with negative return on equity and net margin.
• Strs Ohio recently acquired 4,000 shares of Surmodics, bringing institutional ownership to 96.63% of the company's stock, reflecting strong institutional investor interest.

Surmodics (NASDAQ:SRDX - Get Free Report) announced its earnings results on Friday. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.27, Zacks reports. 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 analysts' expectations of $28.04 million. Surmodics updated its FY 2025 guidance to -0.350--0.200 EPS.

Surmodics Trading Up 0.2%

Shares of Surmodics stock traded up $0.08 on Wednesday, reaching $38.00. 14,451 shares of the company's stock were exchanged, compared to its average volume of 176,827. The company has a market capitalization of $543.40 million, a P/E ratio of -30.89 and a beta of 1.31. Surmodics has a 52 week low of $26.00 and a 52 week high of $40.38. The firm's 50-day moving average is $31.61 and its two-hundred day moving average is $30.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.10 and a current ratio of 3.91.

Analyst Ratings Changes

Several analysts recently commented on the company. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a report on Wednesday, April 30th. Barrington Research reiterated a "market perform" rating on shares of Surmodics in a report on Monday.

Hedge Funds Weigh In On Surmodics

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its holdings in shares of Surmodics by 705.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company's stock worth $37,000 after buying an additional 1,080 shares in the last quarter. Strs Ohio bought a new position in shares of Surmodics during the 1st quarter worth approximately $122,000. Creative Planning bought a new position in shares of Surmodics during the 2nd quarter worth approximately $318,000. Finally, Millennium Management LLC boosted its holdings in shares of Surmodics by 71.6% during the 1st quarter. Millennium Management LLC now owns 206,487 shares of the company's stock worth $6,304,000 after buying an additional 86,143 shares in the last quarter. 96.63% of the stock is currently owned by institutional investors.

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).