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

Surmodics, Inc. (NASDAQ:SRDX) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 271,300 shares, a decrease of 37.0% from the February 13th total of 430,900 shares. Based on an average daily trading volume, of 271,700 shares, the short-interest ratio is currently 1.0 days. Approximately 2.0% of the company’s stock are sold short.

Surmodics Price Performance

Shares of NASDAQ SRDX traded up $0.50 during midday trading on Monday, hitting $28.80. 11,204 shares of the company’s stock were exchanged, compared to its average volume of 170,332. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $34.37 and its two-hundred day moving average price is $37.37. The company has a market cap of $411.65 million, a price-to-earnings ratio of -28.51 and a beta of 1.19. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SRDX. StockNews.com began coverage on shares of Surmodics in a research report on Monday, February 3rd. They issued a “hold” rating for the company. Lake Street Capital upgraded Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Friday, March 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Surmodics currently has a consensus rating of “Hold” and an average target price of $50.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Modus Advisors LLC bought a new position in shares of Surmodics during the fourth quarter valued at $40,000. Quest Partners LLC lifted its holdings in Surmodics by 107,100.0% during the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after purchasing an additional 1,071 shares in the last quarter. R Squared Ltd bought a new position in shares of Surmodics in the fourth quarter worth approximately $55,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Surmodics in the third quarter worth $67,000. Finally, Legal & General Group Plc raised its position 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 valued at $137,000 after purchasing an additional 880 shares during the period. 96.63% of the stock is currently owned by institutional investors.

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).