Olympiad Research LP Reduces Stock Position in Surmodics, Inc. (NASDAQ:SRDX)

Olympiad Research LP cut its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 82.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,464 shares of the company’s stock after selling 40,127 shares during the period. Olympiad Research LP’s holdings in Surmodics were worth $335,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in Surmodics in the third quarter valued at approximately $1,190,000. Oddo BHF Asset Management Sas acquired a new position in Surmodics in the third quarter valued at approximately $6,593,000. JPMorgan Chase & Co. lifted its holdings in Surmodics by 192.7% in the third quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company’s stock valued at $1,647,000 after acquiring an additional 27,960 shares during the last quarter. Murchinson Ltd. acquired a new position in Surmodics in the third quarter valued at approximately $2,133,000. Finally, State Street Corp lifted its holdings in Surmodics by 19.2% in the third quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after acquiring an additional 60,240 shares during the last quarter. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on SRDX. StockNews.com began coverage on Surmodics in a report on Monday, February 3rd. They issued a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Surmodics has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Stock Up 1.4 %

NASDAQ:SRDX opened at $34.85 on Friday. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average is $37.02 and its two-hundred day moving average is $38.36. Surmodics, Inc. has a 52 week low of $25.17 and a 52 week high of $42.44. The stock has a market capitalization of $498.36 million, a price-to-earnings ratio of -34.50 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. Research analysts anticipate that Surmodics, Inc. will post 0.2 EPS for the current year.

Insider Activity

In other news, CFO Timothy J. Arens sold 7,009 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total value of $276,434.96. Following the sale, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.90% of the company’s stock.

Surmodics 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 through two segments, Medical Device and In Vitro Diagnostics (IVD).