Surmodics (NASDAQ:SRDX) Trading Up 8.7% on Better-Than-Expected Earnings

Surmodics, Inc. (NASDAQ:SRDX - Get Free Report)'s stock price traded up 8.7% on Monday following a better than expected earnings announcement. The company traded as high as $38.33 and last traded at $38.48. 194,800 shares were traded during trading, an increase of 10% from the average session volume of 176,503 shares. The stock had previously closed at $35.41.The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.27. Surmodics had a negative net margin of 14.59% and a negative return on equity of 3.04%. The firm had revenue of $29.57 million for the quarter, compared to the consensus estimate of $28.04 million. Analyst Ratings ChangesA number of research firms have recently issued reports on SRDX. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a report on Wednesday, April 30th. Barrington Research reiterated a "market perform" rating on shares of Surmodics in a report on Monday.Get Our Latest Report on SRDXInstitutional Inflows and OutflowsA number of institutional investors and hedge funds have recently made changes to their positions in SRDX. Strs Ohio bought a new stake in shares of Surmodics in the 1st quarter worth $122,000. Legal & General Group Plc increased its holdings 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 worth $137,000 after purchasing an additional 880 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Surmodics in the 4th quarter worth $217,000. AlphaQuest LLC bought a new stake in shares of Surmodics in the 1st quarter worth $232,000. Finally, DeepCurrents Investment Group LLC bought a new stake in shares of Surmodics in the 4th quarter worth $260,000. Hedge funds and other institutional investors own 96.63% of the company's stock. Surmodics Stock Up 8.2%The company has a market cap of $547.78 million, a P/E ratio of -31.04 and a beta of 1.31. The company has a quick ratio of 3.10, a current ratio of 3.91 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $31.27 and a 200 day moving average of $30.78. About Surmodics (Get Free Report)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).Read MoreFive stocks we like better than SurmodicsProfitably Trade Stocks at 52-Week HighsOracle’s 2025 Rally Is Only Half Over: 5 Reasons WhyWhy Special Dividends Can be a Delightful Surprise for Income InvestorsInvest in AI and Energy Infrastructure With These 5 ETFsUptrend Stocks Explained: Learn How to Trade Using Uptrends3 Natural Gas Stocks Powering the AI Data Center BoomThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Surmodics Right Now?Before you consider Surmodics, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Surmodics wasn't on the list.While Surmodics currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here