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

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 trading volume, of 228,800 shares, the short-interest ratio is presently 2.0 days. Approximately 3.4% of the shares of the company are sold short.

Surmodics Price Performance

NASDAQ:SRDX traded down $1.44 during mid-day trading on Friday, hitting $34.04. 275,702 shares of the company traded hands, compared to its average volume of 316,704. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. The stock’s fifty day moving average price is $38.70 and its 200-day moving average price is $39.13. Surmodics has a one year low of $25.17 and a one year high of $42.44.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. Analysts predict that Surmodics will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on SRDX. StockNews.com initiated coverage on Surmodics in a research report on Sunday, January 26th. They set a “hold” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Insider Activity at Surmodics

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.90% of the stock is currently owned by insiders.

Institutional Trading of Surmodics

Hedge funds and other institutional investors have recently modified their holdings of the company. Oddo BHF Asset Management Sas purchased a new stake in Surmodics in the 3rd quarter worth $6,593,000. Phocas Financial Corp. bought a new position in shares of Surmodics in the third quarter worth about $3,430,000. State Street Corp grew its position in shares of Surmodics by 19.2% during the third quarter. State Street Corp now owns 374,068 shares of the company’s stock worth $14,506,000 after purchasing an additional 60,240 shares in the last quarter. Murchinson Ltd. bought a new stake in Surmodics during the 3rd quarter valued at approximately $2,133,000. Finally, Olympiad Research LP purchased a new position in Surmodics in the 3rd quarter worth approximately $1,884,000. 96.63% of the stock is owned by hedge funds and other 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).