Surmodics, Inc. (NASDAQ:SRDX) Short Interest Update

Surmodics, Inc. (NASDAQ:SRDX) was the target of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 430,900 shares, a decline of 28.4% from the January 31st total of 601,700 shares. Based on an average daily volume of 249,200 shares, the days-to-cover ratio is presently 1.7 days. Approximately 3.2% of the company’s stock are sold short.

Surmodics Stock Up 1.7 %

Surmodics stock traded up $0.53 during midday trading on Wednesday, reaching $31.02. The stock had a trading volume of 127,290 shares, compared to its average volume of 310,612. The stock has a market capitalization of $443.46 million, a P/E ratio of -30.71 and a beta of 1.20. The firm’s fifty day simple moving average is $36.13 and its 200-day simple moving average is $38.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. As a group, analysts expect that Surmodics will post 0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SRDX. Modus Advisors LLC acquired a new position in shares of Surmodics during the 4th quarter worth approximately $40,000. Quest Partners LLC raised its position in Surmodics by 107,100.0% during the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after acquiring an additional 1,071 shares in the last quarter. R Squared Ltd acquired a new stake in Surmodics in the fourth quarter valued at $55,000. Longfellow Investment Management Co. LLC bought a new position in shares of Surmodics in the 3rd quarter valued at about $67,000. Finally, Legal & General Group Plc increased its stake in shares of Surmodics by 34.2% during 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 during the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on SRDX shares. StockNews.com started coverage on shares of Surmodics in a report on Monday, February 3rd. They set a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Company 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).