Surmodics, Inc. (NASDAQ:SRDX) Sees Large Decrease in Short Interest

Surmodics, Inc. (NASDAQ:SRDX) was the recipient of a large decrease in short interest in February. As of February 15th, there was short interest totalling 430,900 shares, a decrease of 28.4% from the January 31st total of 601,700 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average trading volume of 249,200 shares, the short-interest ratio is currently 1.7 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Modus Advisors LLC acquired a new stake in shares of Surmodics in the 4th quarter valued at $40,000. Quest Partners LLC increased its position in Surmodics by 107,100.0% in the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after purchasing an additional 1,071 shares during the period. R Squared Ltd acquired a new stake in Surmodics in the fourth quarter worth about $55,000. Longfellow Investment Management Co. LLC bought a new stake in Surmodics during the 3rd quarter worth about $67,000. Finally, Legal & General Group Plc lifted its position in Surmodics by 34.2% during the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company’s stock valued at $137,000 after purchasing an additional 880 shares during the period. Institutional investors own 96.63% of the company’s stock.

Surmodics Price Performance

Shares of NASDAQ SRDX traded up $0.53 during midday trading on Wednesday, reaching $31.02. 127,290 shares of the company traded hands, compared to its average volume of 310,612. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. The stock’s 50-day simple moving average is $36.13 and its 200-day simple moving average is $38.00. The firm has a market cap of $443.46 million, a PE ratio of -30.71 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts anticipate that Surmodics will post 0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SRDX. StockNews.com began coverage on Surmodics in a research report on Monday, February 3rd. They set a “hold” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.00.

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).