Surmodics (NASDAQ:SRDX) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Surmodics, Inc. (NASDAQ:SRDX - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $30.89 and traded as high as $31.17. Surmodics shares last traded at $30.46, with a volume of 118,150 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SRDX shares. Zacks Research raised Surmodics to a "hold" rating in a report on Tuesday, August 12th. Barrington Research reiterated a "market perform" rating on shares of Surmodics in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Surmodics presently has an average rating of "Hold" and an average target price of $43.00.

Surmodics Price Performance

The company has a fifty day simple moving average of $34.30 and a two-hundred day simple moving average of $30.89. The stock has a market capitalization of $435.58 million, a price-to-earnings ratio of -24.76 and a beta of 1.37. 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 released its earnings results on Friday, August 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $28.04 million. Surmodics has set its FY 2025 guidance at -0.350--0.200 EPS. As a group, equities research analysts expect that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Surmodics

Several hedge funds and other institutional investors have recently made changes to their positions in SRDX. Russell Investments Group Ltd. lifted 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 acquiring an additional 1,080 shares during the period. BNP Paribas Financial Markets raised its position in Surmodics by 67.6% during the second quarter. BNP Paribas Financial Markets now owns 1,435 shares of the company's stock valued at $43,000 after purchasing an additional 579 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Surmodics by 289.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,730 shares of the company's stock worth $51,000 after purchasing an additional 1,286 shares during the last quarter. Strs Ohio acquired a new stake in shares of Surmodics in the 1st quarter valued at $122,000. Finally, AlphaQuest LLC bought a new position in shares of Surmodics in the 1st quarter valued at $232,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

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).

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