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

Surmodics, Inc. (NASDAQ:SRDX) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 271,300 shares, a drop of 37.0% from the February 13th total of 430,900 shares. Based on an average daily trading volume, of 271,700 shares, the short-interest ratio is currently 1.0 days. Approximately 2.0% of the company’s stock are short sold.

Surmodics Stock Down 0.1 %

Shares of NASDAQ:SRDX traded down $0.02 on Friday, reaching $28.30. The company had a trading volume of 103,729 shares, compared to its average volume of 170,620. The stock has a market capitalization of $404.58 million, a P/E ratio of -28.02 and a beta of 1.19. The stock has a 50-day moving average price of $34.37 and a 200 day moving average price of $37.40. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX) last posted its earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate 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, equities analysts expect that Surmodics will post 0.2 EPS for the current year.

Institutional Trading of Surmodics

Several large investors have recently modified their holdings of SRDX. Principal Financial Group Inc. acquired a new position in Surmodics during the 3rd quarter worth $1,190,000. Quest Partners LLC increased its stake in shares of Surmodics by 107,100.0% in the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after purchasing an additional 1,071 shares during the period. Phocas Financial Corp. bought a new stake in Surmodics during the 3rd quarter valued at approximately $3,430,000. Charles Schwab Investment Management Inc. grew its holdings in Surmodics by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock valued at $4,511,000 after buying an additional 1,491 shares during the last quarter. Finally, Algert Global LLC increased its position in Surmodics by 29.9% in the 3rd quarter. Algert Global LLC now owns 17,820 shares of the company’s stock worth $691,000 after buying an additional 4,098 shares during the period. 96.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SRDX. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. StockNews.com started coverage on Surmodics in a report on Monday, February 3rd. They set a “hold” rating for the company. Finally, Lake Street Capital raised Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.00.

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).