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

Surmodics, Inc. (NASDAQ:SRDX) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 271,300 shares, a decline of 37.0% from the February 13th total of 430,900 shares. Based on an average daily trading volume, of 271,700 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.0% of the shares of the stock are short sold.

Surmodics Price Performance

Shares of NASDAQ SRDX traded down $0.02 during trading on Friday, hitting $28.30. The company had a trading volume of 103,729 shares, compared to its average volume of 170,620. The company has a market cap of $404.58 million, a P/E ratio of -28.02 and a beta of 1.19. 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 business’s 50-day moving average is $34.37 and its 200 day moving average is $37.40. Surmodics has a 52 week low of $25.17 and a 52 week high of $42.44.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Surmodics

Hedge funds have recently made changes to their positions in the company. Modus Advisors LLC purchased a new position in Surmodics during the 4th quarter worth approximately $40,000. Quest Partners LLC grew its holdings in shares of 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 buying an additional 1,071 shares in the last quarter. R Squared Ltd acquired a new position in Surmodics during the fourth quarter valued at $55,000. Longfellow Investment Management Co. LLC purchased a new stake in Surmodics in the 3rd quarter worth about $67,000. Finally, Legal & General Group Plc boosted 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 worth $137,000 after acquiring an additional 880 shares during the period. Hedge funds and other institutional investors own 96.63% of the company’s stock.

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).