Surmodics Target of Unusually High Options Trading (NASDAQ:SRDX)

by · The Cerbat Gem

Surmodics, Inc. (NASDAQ:SRDX – Get Free Report) saw unusually large options trading on Monday. Traders bought 13,635 call options on the company. This is an increase of 5,084% compared to the average volume of 263 call options.

Institutional Trading of Surmodics

A number of large investors have recently modified their holdings of SRDX. Y Intercept Hong Kong Ltd purchased a new position in Surmodics in the second quarter worth $1,277,000. Nuveen LLC bought a new stake in Surmodics during the first quarter worth about $1,262,000. Tabor Asset Management LP purchased a new position in shares of Surmodics in the 1st quarter worth about $2,476,000. Principal Financial Group Inc. increased its position in shares of Surmodics by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 36,699 shares of the company’s stock valued at $1,120,000 after purchasing an additional 638 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of Surmodics during the 1st quarter valued at about $232,000. Institutional investors own 96.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Zacks Research raised shares of Surmodics to a “hold” rating in a research report on Tuesday, August 12th. Barrington Research reiterated an “underperform” rating on shares of Surmodics in a report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Surmodics in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Surmodics has an average rating of “Reduce” and an average target price of $43.00.

Get Our Latest Stock Report on SRDX

Surmodics Stock Performance

Shares of SRDX stock traded up $1.26 during trading on Monday, reaching $42.87. 7,553,483 shares of the company’s stock traded hands, compared to its average volume of 227,887. The firm’s 50-day moving average is $30.28 and its 200 day moving average is $31.08. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27. Surmodics has a 1 year low of $25.87 and a 1 year high of $42.89. The company has a market capitalization of $612.88 million, a P/E ratio of -34.85 and a beta of 1.30.

About Surmodics

(Get Free Report)

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).

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