AlphaQuest LLC Raises Position in Surmodics, Inc. $SRDX

AlphaQuest LLC increased its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 97.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,982 shares of the company’s stock after buying an additional 7,399 shares during the period. AlphaQuest LLC owned 0.10% of Surmodics worth $445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SRDX. Principal Financial Group Inc. raised its position in shares of Surmodics by 1.8% in the first quarter. Principal Financial Group Inc. now owns 36,699 shares of the company’s stock worth $1,120,000 after buying an additional 638 shares in the last quarter. Tabor Asset Management LP purchased a new stake in shares of Surmodics in the first quarter worth $2,476,000. Burren Capital Advisors Ltd purchased a new stake in shares of Surmodics in the first quarter worth $1,094,000. Invesco Ltd. raised its position in shares of Surmodics by 103.9% in the first quarter. Invesco Ltd. now owns 11,844 shares of the company’s stock worth $362,000 after buying an additional 6,036 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Surmodics in the first quarter worth $1,262,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SRDX. Barrington Research restated a “market perform” rating on shares of Surmodics in a research report on Monday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Surmodics in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Surmodics to a “hold” rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.00.

Surmodics Stock Down 1.6%

SRDX opened at $26.93 on Thursday. The company has a market cap of $385.10 million, a P/E ratio of -21.89 and a beta of 1.31. The business’s 50-day moving average price is $30.88 and its 200-day moving average price is $30.80. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27. Surmodics, Inc. has a 12 month low of $26.00 and a 12 month high of $40.38.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Friday, August 8th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.27. The firm had revenue of $29.57 million for the quarter, compared to the consensus estimate of $28.04 million. Surmodics had a negative return on equity of 2.99% and a negative net margin of 14.59%. Surmodics has set its FY 2025 guidance at -0.350–0.200 EPS. On average, equities analysts expect that Surmodics, Inc. will post 0.2 EPS for the current year.

Surmodics Profile

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).