Surmodics, Inc. (NASDAQ:SRDX) Short Interest Down 28.4% in February

Surmodics, Inc. (NASDAQ:SRDX) was the target of a significant decline in short interest in February. As of February 15th, there was short interest totalling 430,900 shares, a decline of 28.4% from the January 31st total of 601,700 shares. Based on an average daily trading volume, of 249,200 shares, the days-to-cover ratio is currently 1.7 days. Approximately 3.2% of the company’s stock are sold short.

Analyst Ratings Changes

A number of research firms have recently commented on SRDX. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research report on Thursday, January 30th. StockNews.com initiated coverage on Surmodics in a research note on Monday, February 3rd. They set a “hold” rating on the stock. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.00.

Institutional Trading of Surmodics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Modus Advisors LLC bought a new position in Surmodics in the 4th quarter valued at $40,000. Quest Partners LLC lifted its position in Surmodics by 107,100.0% during the 3rd 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 during the period. R Squared Ltd bought a new position in shares of Surmodics in the 4th quarter valued at about $55,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Surmodics during the 3rd quarter worth approximately $67,000. Finally, Legal & General Group Plc raised its stake in shares of Surmodics by 34.2% during the fourth quarter. Legal & General Group Plc now owns 3,452 shares of the company’s stock worth $137,000 after buying an additional 880 shares during the last quarter. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Surmodics Stock Performance

SRDX stock opened at $30.95 on Tuesday. Surmodics has a 52 week low of $25.17 and a 52 week high of $42.44. 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 stock has a market cap of $442.46 million, a P/E ratio of -30.64 and a beta of 1.20. The firm has a 50 day simple moving average of $36.31 and a 200 day simple moving average of $38.07.

Surmodics (NASDAQ:SRDX) last posted its earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, beating 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%. Research analysts anticipate that Surmodics will post 0.2 earnings per share for the current fiscal year.

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).