Surmodics (NASDAQ:SRDX) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

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) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barrington Research reissued a "market perform" rating on shares of Surmodics in a research report on Monday, August 11th. Zacks Research raised shares of Surmodics to a "hold" rating in a research report on Tuesday, August 12th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research report on Wednesday, April 30th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $43.00.

Surmodics Price Performance

The company has a market capitalization of $531.82 million, a price-to-earnings ratio of -30.24 and a beta of 1.31. The stock has a fifty day simple moving average of $32.86 and a 200-day simple moving average of $30.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.91 and a quick ratio of 3.10.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $29.57 million during the quarter, compared to the consensus estimate 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 year.

Institutional Trading of Surmodics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Gabelli Funds LLC increased its position in shares of Surmodics by 4.9% in the second quarter. Gabelli Funds LLC now owns 414,838 shares of the company's stock valued at $12,325,000 after buying an additional 19,329 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Surmodics by 1.2% in the second quarter. Qube Research & Technologies Ltd now owns 393,984 shares of the company's stock valued at $11,705,000 after buying an additional 4,799 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Surmodics by 0.3% in the second quarter. Geode Capital Management LLC now owns 336,239 shares of the company's stock valued at $9,992,000 after buying an additional 1,128 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Surmodics in the fourth quarter valued at approximately $11,880,000. Finally, Balyasny Asset Management L.P. increased its position in shares of Surmodics by 0.9% in the second quarter. Balyasny Asset Management L.P. now owns 271,682 shares of the company's stock valued at $8,072,000 after buying an additional 2,290 shares in the last quarter. 96.63% of the stock is currently 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).