Surmodics, Inc. (NASDAQ:SRDX) Short Interest Down 36.9% in August

Surmodics, Inc. (NASDAQ:SRDX) saw a significant decline in short interest in August. As of August 15th, there was short interest totalling 462,000 shares, a decline of 36.9% from the July 31st total of 732,100 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average daily volume of 466,400 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Ratings Changes

Several brokerages recently issued reports on SRDX. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research note on Monday, August 5th. Barrington Research reissued a “market perform” rating on shares of Surmodics in a research report on Thursday, May 30th. Lake Street Capital reaffirmed a “hold” rating and set a $43.00 price objective on shares of Surmodics in a research report on Wednesday, May 29th. Sidoti reissued a “neutral” rating and issued a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Finally, StockNews.com started coverage on Surmodics in a research note on Tuesday. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Surmodics currently has a consensus rating of “Hold” and a consensus target price of $50.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its stake in shares of Surmodics by 11.3% in the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock worth $11,988,000 after acquiring an additional 41,617 shares during the period. Strs Ohio grew its stake in shares of Surmodics by 97.2% in the fourth quarter. Strs Ohio now owns 7,100 shares of the company’s stock worth $258,000 after acquiring an additional 3,500 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Surmodics by 109.8% in the fourth quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock worth $1,624,000 after acquiring an additional 23,379 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Surmodics by 4,722.3% in the second quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock worth $2,877,000 after acquiring an additional 67,010 shares during the period. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Surmodics by 15.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock worth $166,000 after acquiring an additional 620 shares during the period. 96.63% of the stock is owned by hedge funds and other institutional investors.

Surmodics Stock Down 0.1 %

Shares of Surmodics stock opened at $39.53 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98. The stock has a market capitalization of $563.70 million, a PE ratio of 41.61 and a beta of 1.18. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44. The company has a 50-day simple moving average of $41.31 and a two-hundred day simple moving average of $35.35.

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).