Surmodics (NASDAQ:SRDX) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Surmodics, Inc. (NASDAQ:SRDX)'s stock price has surpassed its two hundred day moving average of $30.89, reaching a high of $37.82 during trading.
• The company recently reported earnings of $0.06 per share, beating expectations, and has set a guidance range of -0.350 to -0.200 EPS for FY 2025.
• Surmodics' stock has an average analyst rating of "Hold" with a consensus price target of $43.00.

Surmodics, Inc. (NASDAQ:SRDX - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $30.89 and traded as high as $37.82. Surmodics shares last traded at $37.34, with a volume of 547,519 shares.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Surmodics to a "hold" rating in a research report on Tuesday, August 12th. Barrington Research reissued a "market perform" rating on shares of Surmodics in a report on Monday, August 11th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $43.00.

Surmodics Stock Up 3.0%

The business's fifty day moving average is $32.70 and its two-hundred day moving average is $30.94. The company has a market cap of $531.82 million, a P/E ratio of -30.24 and a beta of 1.31. 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 posted its quarterly earnings results on Friday, August 8th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.27. The business had revenue of $29.57 million during the quarter, compared to analyst estimates of $28.04 million. Surmodics had a negative net margin of 14.59% and a negative return on equity of 2.99%. Surmodics has set its FY 2025 guidance at -0.350--0.200 EPS. Equities analysts predict that Surmodics, Inc. will post 0.2 EPS for the current year.

Institutional Trading of Surmodics

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Surmodics by 20.1% during the fourth quarter. JPMorgan Chase & Co. now owns 50,990 shares of the company's stock valued at $2,019,000 after purchasing an additional 8,520 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Surmodics by 40.9% in the 4th quarter. Wells Fargo & Company MN now owns 7,032 shares of the company's stock valued at $278,000 after acquiring an additional 2,041 shares during the period. Legal & General Group Plc raised its stake in shares of Surmodics by 34.2% in the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock valued at $137,000 after acquiring an additional 880 shares during the period. Barclays PLC grew its holdings in shares of Surmodics by 21.7% in the fourth quarter. Barclays PLC now owns 108,001 shares of the company's stock valued at $4,278,000 after purchasing an additional 19,251 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Surmodics by 231.0% during the 4th quarter. Marshall Wace LLP now owns 28,135 shares of the company's stock worth $1,114,000 after acquiring an additional 19,635 shares in the last quarter. 96.63% of the stock is owned by hedge funds and other 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).