Short Interest in Surmodics, Inc. (NASDAQ:SRDX) Expands By 18.2%

Posted by MarketBeat News on Aug 5th, 2022

Surmodics, Inc. (NASDAQ:SRDX – Get Rating) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 416,000 shares, an increase of 18.2% from the June 30th total of 351,800 shares. Based on an average trading volume of 37,800 shares, the days-to-cover ratio is presently 11.0 days. Approximately 3.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, TheStreet downgraded Surmodics from a “c” rating to a “d” rating in a research report on Friday, April 29th.

Surmodics Stock Performance

Shares of Surmodics stock opened at $33.93 on Friday. Surmodics has a one year low of $32.43 and a one year high of $62.27. The company has a market cap of $474.68 million, a price-to-earnings ratio of -36.88 and a beta of 0.97. The business’s 50 day moving average price is $36.93 and its 200 day moving average price is $39.98.

Hedge Funds Weigh In On Surmodics

A number of institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new stake in Surmodics in the second quarter valued at $41,000. Captrust Financial Advisors raised its position in Surmodics by 24.3% in the first quarter. Captrust Financial Advisors now owns 2,307 shares of the company’s stock valued at $105,000 after purchasing an additional 451 shares during the period. Hsbc Holdings PLC purchased a new stake in Surmodics in the first quarter valued at $225,000. MetLife Investment Management LLC raised its position in Surmodics by 58.1% in the first quarter. MetLife Investment Management LLC now owns 7,505 shares of the company’s stock valued at $340,000 after purchasing an additional 2,758 shares during the period. Finally, White Pine Capital LLC raised its position in Surmodics by 64.0% in the first quarter. White Pine Capital LLC now owns 8,111 shares of the company’s stock valued at $368,000 after purchasing an additional 3,166 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.

About Surmodics

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Surmodics, Inc, together with its subsidiaries, provides surface modification technologies for intravascular medical devices, and chemical 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).