Surmodics, Inc. (NASDAQ:SRDX) Short Interest Down 37.0% in February

Surmodics, Inc. (NASDAQ:SRDX) was the recipient of a large decline in short interest during the month of 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. Approximately 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 271,700 shares, the short-interest ratio is presently 1.0 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. 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 research note on Friday, March 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Finally, StockNews.com initiated coverage on shares of Surmodics in a report on Monday, February 3rd. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Surmodics currently has an average rating of “Hold” and a consensus target price of $50.00.

Institutional Investors Weigh In On Surmodics

A number of institutional investors have recently modified their holdings of SRDX. Modus Advisors LLC bought a new position in shares of Surmodics during the 4th quarter worth approximately $40,000. Quest Partners LLC increased its stake in Surmodics by 107,100.0% in 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 acquired a new position in shares of Surmodics during the fourth quarter valued at about $55,000. Longfellow Investment Management Co. LLC bought a new position in shares of Surmodics during the 3rd quarter worth about $67,000. Finally, Legal & General Group Plc boosted 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 worth $137,000 after purchasing an additional 880 shares in the last quarter. 96.63% of the stock is owned by institutional investors.

Surmodics Price Performance

NASDAQ SRDX traded up $0.50 on Monday, hitting $28.80. 11,204 shares of the company’s stock were exchanged, compared to its average volume of 170,332. The stock has a 50-day moving average of $34.37 and a 200-day moving average of $37.37. The stock 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 52 week low of $25.17 and a 52 week high of $42.44. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Surmodics will post 0.2 earnings per share for the current year.

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).