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

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

Surmodics Price Performance

Shares of SRDX stock traded down $0.02 during mid-day trading on Friday, reaching $28.30. The stock had a trading volume of 103,729 shares, compared to its average volume of 170,970. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44. The company has a market cap of $404.58 million, a P/E ratio of -28.02 and a beta of 1.19. The business has a 50-day simple moving average of $34.37 and a 200 day simple moving average of $37.39. 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 announced its quarterly 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 return on equity of 4.39% and a negative net margin of 11.48%. On average, sell-side analysts anticipate that Surmodics will post 0.2 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Trading of Surmodics

Large investors have recently made changes to their positions in the stock. Modus Advisors LLC acquired a new stake in shares of Surmodics during the fourth quarter valued at $40,000. Quest Partners LLC boosted its stake 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 acquiring an additional 1,071 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Surmodics during the fourth quarter valued at $55,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Surmodics during the third quarter valued at $67,000. Finally, Legal & General Group Plc boosted its stake in Surmodics by 34.2% in the 4th 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. Institutional investors and hedge funds 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).