Surmodics (NASDAQ:SRDX) Sees Large Volume Increase - Here's What Happened

Key Points

• Surmodics, Inc. (NASDAQ:SRDX) experienced a significant increase in trading volume, with 199,536 shares traded, up 19% from the previous day.
• The company reported negative earnings per share of ($0.13) for the last quarter, missing estimates and generating lower than expected revenue of $28.09 million.
• Institutional investors hold 96.63% of Surmodics' stock, with major stakeholders significantly increasing their positions during the last quarter.

Surmodics, Inc. (NASDAQ:SRDX - Get Free Report) saw an uptick in trading volume on Monday . 199,536 shares were traded during trading, an increase of 19% from the previous session's volume of 167,543 shares.The stock last traded at $37.30 and had previously closed at $36.00.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th.

Surmodics Stock Performance

The stock has a market capitalization of $515.19 million, a PE ratio of -25.92 and a beta of 1.31. The company has a quick ratio of 3.99, a current ratio of 5.14 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $30.50 and a 200-day moving average of $30.92.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.07). The company had revenue of $28.09 million during the quarter, compared to analyst estimates of $32.23 million. Surmodics had a negative net margin of 16.34% and a negative return on equity of 7.10%. Equities analysts anticipate that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surmodics

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc lifted its position in shares of Surmodics by 34.2% during the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock worth $137,000 after purchasing an additional 880 shares during the last quarter. Strs Ohio acquired a new stake in Surmodics in the first quarter valued at $122,000. Price T Rowe Associates Inc. MD purchased a new stake in Surmodics during the 4th quarter worth about $217,000. Polymer Capital Management US LLC purchased a new position in shares of Surmodics in the 4th quarter valued at about $255,000. Finally, DeepCurrents Investment Group LLC acquired a new stake in shares of Surmodics during the 4th quarter worth about $260,000. Institutional investors and hedge funds own 96.63% of the company's stock.

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).