Short Interest in Surmodics, Inc. (NASDAQ:SRDX) Declines By 28.4%

Surmodics, Inc. (NASDAQ:SRDX - Get Free Report) saw a large decline in short interest in the month of 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. Currently, 3.2% of the company's shares are short sold. Based on an average daily trading volume, of 249,200 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Investors Weigh In On Surmodics

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its stake in Surmodics by 0.4% during the 4th quarter. Millennium Management LLC now owns 120,344 shares of the company's stock worth $4,766,000 after purchasing an additional 509 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Surmodics by 4.4% in the fourth 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. Legal & General Group Plc increased its position 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 acquiring an additional 880 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Surmodics during the fourth quarter worth $40,000. Finally, Quest Partners LLC lifted its position in Surmodics by 107,100.0% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 96.63% of the company's stock.

Surmodics Trading Down 4.5 %

NASDAQ:SRDX traded down $1.40 during trading hours on Thursday, hitting $29.62. The stock had a trading volume of 489,702 shares, compared to its average volume of 317,519. The business's 50 day moving average is $35.96 and its 200-day moving average is $37.95. 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 company has a market cap of $423.45 million, a price-to-earnings ratio of -29.33 and a beta of 1.19. Surmodics has a one year low of $25.17 and a one year high of $42.44.

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Surmodics (NASDAQ:SRDX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) EPS 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%. Sell-side analysts anticipate that Surmodics will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SRDX shares. Needham & Company LLC restated a "hold" rating on shares of Surmodics in a report on Thursday, January 30th. StockNews.com started coverage on Surmodics in a research note on Monday, February 3rd. They issued a "hold" rating on the stock. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average 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).