Surmodics, Inc. (NASDAQ:SRDX – Free Report) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 180,900 shares, a decrease of 30.5% from the May 31st total of 260,200 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily volume of 118,600 shares, the short-interest ratio is currently 1.5 days.
Wall Street Analysts Forecast Growth
SRDX has been the topic of several research reports. Needham & Company LLC raised Surmodics from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, June 13th. StockNews.com initiated coverage on Surmodics in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Barrington Research upped their price target on Surmodics from $60.00 to $69.00 in a research report on Wednesday, June 21st.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in SRDX. Citigroup Inc. grew its stake in Surmodics by 13.1% during the 1st quarter. Citigroup Inc. now owns 12,005 shares of the company’s stock worth $544,000 after buying an additional 1,390 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Surmodics by 14.5% in the first quarter. Bank of Montreal Can now owns 8,898 shares of the company’s stock worth $388,000 after purchasing an additional 1,126 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Surmodics in the first quarter worth $1,111,000. MetLife Investment Management LLC grew its stake in shares of Surmodics by 58.1% in the first quarter. MetLife Investment Management LLC now owns 7,505 shares of the company’s stock worth $340,000 after purchasing an additional 2,758 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Surmodics by 4.5% in the first quarter. Rhumbline Advisers now owns 36,826 shares of the company’s stock worth $1,669,000 after purchasing an additional 1,581 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.
Surmodics Stock Up 0.4 %
SRDX stock opened at $31.31 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.20 and a quick ratio of 2.48. Surmodics has a 12-month low of $16.00 and a 12-month high of $39.53. The stock’s 50 day simple moving average is $22.62 and its 200 day simple moving average is $25.19.
Surmodics (NASDAQ:SRDX – Free Report) last issued its quarterly earnings data on Wednesday, April 26th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $27.20 million during the quarter, compared to the consensus estimate of $25.99 million. Surmodics had a negative return on equity of 18.98% and a negative net margin of 34.92%. On average, equities research analysts expect that Surmodics will post -1.84 earnings per share for the current year.
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 in two segments, Medical Device and In Vitro Diagnostics (IVD).