Today’s Shorts Alert: Is Buying Surmodics Incorporated (NASDAQ:SRDX), Having Higher Short Interest a Winning Strategy?

November 16, 2016 - By Hazel Jackson   ·   0 Comments

Today's Shorts Alert: Is Buying Surmodics Incorporated (NASDAQ:SRDX), Having Higher Short Interest a Winning Strategy?

The stock of Surmodics Incorporated (NASDAQ:SRDX) registered an increase of 2.24% in short interest. SRDX’s total short interest was 602,000 shares in November as published by FINRA. Its up 2.24% from 588,800 shares, reported previously. With 61,400 shares average volume, it will take short sellers 10 days to cover their SRDX’s short positions. The short interest to Surmodics Incorporated’s float is 5.44%. About 100,062 shares traded hands or 116.04% up from the average. SurModics, Inc. (NASDAQ:SRDX) has risen 36.25% since April 14, 2016 and is uptrending. It has outperformed by 31.56% the S&P500.

SurModics, Inc. is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The company has a market cap of $323.50 million. The Firm operates through two divisions: Medical Device and In Vitro Diagnostics. It has a 38.41 P/E ratio. The Firm is focused on to transform its medical device business from being a well-known provider of coating technologies to offering whole product solutions to medical device customers.

Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.18, from 1.04 in 2016Q1. The ratio fall, as 6 funds sold all SurModics, Inc. shares owned while 43 reduced positions. 13 funds bought stakes while 29 increased positions. They now own 11.02 million shares or 4.16% less from 11.50 million shares in 2016Q1.
California State Teachers Retirement Sys reported 27,114 shares or 0% of all its holdings. Tower Research Cap Ltd Llc (Trc), a New York-based fund reported 1,060 shares. Aqr Capital Mngmt Limited Com accumulated 78,801 shares or 0% of the stock. Vanguard Inc, a Pennsylvania-based fund reported 617,417 shares. Bogle Management Ltd Partnership De holds 0.02% or 9,316 shares in its portfolio. Spark Mgmt Ltd Liability Corp accumulated 0.09% or 41,000 shares. Walleye Trading, a Minnesota-based fund reported 2,100 shares. The New York-based Renaissance Techs Ltd has invested 0.04% in SurModics, Inc. (NASDAQ:SRDX). The Texas-based Teacher Retirement Sys Of Texas has invested 0% in SurModics, Inc. (NASDAQ:SRDX). Millennium Mngmt Ltd Limited Liability Company has 8,922 shares for 0% of their US portfolio. Murphy Pohlad Asset Mgmt Ltd Liability Co last reported 72,605 shares in the company. Texas Permanent School Fund reported 9,951 shares or 0% of all its holdings. Geode Management Ltd Llc holds 0% of its portfolio in SurModics, Inc. (NASDAQ:SRDX) for 145,056 shares. Calvert Management Incorporated has 177,094 shares for 0.22% of their US portfolio. Teton Advisors, a New York-based fund reported 276,792 shares.

Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 9 sales for $1.09 million net activity. On Tuesday, August 16 OLSON CHARLES W sold $287,905 worth of the stock or 9,936 shares. 1,548 shares were sold by KNIGHT SUSAN E, worth $44,336. 1,816 shares with value of $42,561 were sold by Phillips Bryan K on Tuesday, June 14. Stich Joseph J. sold 1,000 shares worth $28,741. 5,000 shares were sold by Maharaj Gary R, worth $147,770 on Monday, October 3.

SurModics, Inc. (NASDAQ:SRDX) Ratings Coverage

Out of 2 analysts covering SurModics (NASDAQ:SRDX), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. SurModics has been the topic of 2 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Sidoti given on Friday, October 7. The firm earned “Outperform” rating on Thursday, August 6 by Barrington Research.

SRDX Company Profile

SurModics, Inc., incorporated on June 27, 1979, is a well-known provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Firm operates through two divisions: Medical Device and In Vitro Diagnostics. The Firm is focused on to transform its medical device business from being a well-known provider of coating technologies to offering whole product solutions to medical device customers. As of September 30, 2015, the Company had over 150 licensed product classes (customer products utilizing SurModics technology) already in the market generating royalties and approximately 100 customer product classes incorporating its technology in various stages of pre-commercialization.

More news for SurModics, Inc. (NASDAQ:SRDX) were recently published by: Streetinsider.com, which released: “Form 8-K SURMODICS INC For: Nov 16” on November 16, 2016. Equitiesfocus.com‘s article titled: “SurModics, Inc. (NASDAQ:SRDX) 200-Day MA At $25.95” and published on November 15, 2016 is yet another important article.

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By Hazel Jackson


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