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

Surmodics, Inc. (NASDAQ:SRDX) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 462,800 shares, a growth of 33.0% from the December 31st total of 348,000 shares. Based on an average daily volume of 228,800 shares, the days-to-cover ratio is currently 2.0 days. Currently, 3.4% of the shares of the company are short sold.

Insider Buying and Selling

In other news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total transaction of $276,434.96. Following the transaction, the chief financial officer now owns 70,350 shares in the company, valued at $2,774,604. This trade represents a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SRDX. New York State Common Retirement Fund increased its holdings in Surmodics by 12.4% in the 4th quarter. New York State Common Retirement Fund now owns 19,544 shares of the company’s stock valued at $774,000 after purchasing an additional 2,162 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Surmodics by 17.5% in the fourth quarter. Principal Financial Group Inc. now owns 36,061 shares of the company’s stock valued at $1,428,000 after buying an additional 5,365 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Surmodics by 4.4% in the 4th quarter. Rhumbline Advisers now owns 20,250 shares of the company’s stock valued at $802,000 after buying an additional 861 shares during the period. R Squared Ltd acquired a new position in Surmodics during the 4th quarter worth about $55,000. Finally, SG Americas Securities LLC boosted its holdings in Surmodics by 22.1% during the 4th quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock valued at $275,000 after acquiring an additional 1,255 shares during the period. Institutional investors and hedge funds own 96.63% of the company’s stock.

Surmodics Price Performance

Shares of NASDAQ SRDX traded down $1.44 during midday trading on Friday, hitting $34.04. The stock had a trading volume of 275,702 shares, compared to its average volume of 316,704. The company has a quick ratio of 3.22, a current ratio of 3.96 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $38.70 and a 200-day simple moving average of $39.11. The company has a market capitalization of $486.43 million, a PE ratio of -42.02 and a beta of 1.21. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44.

Surmodics (NASDAQ:SRDX) last released its 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 net margin of 9.15% and a negative return on equity of 3.79%. On average, sell-side analysts expect that Surmodics will post 0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on SRDX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research note on Thursday. StockNews.com started coverage on Surmodics in a research report on Sunday, January 26th. They set a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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).