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

Olympiad Research LP bought a new stake in Surmodics, Inc. (NASDAQ:SRDX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 48,591 shares of the company’s stock, valued at approximately $1,884,000. Surmodics accounts for approximately 1.2% of Olympiad Research LP’s portfolio, making the stock its 15th biggest position. Olympiad Research LP owned approximately 0.34% of Surmodics at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. BNP Paribas Financial Markets increased its stake in Surmodics by 7.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after buying an additional 481 shares during the period. SG Americas Securities LLC increased its stake in Surmodics by 14.7% in the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after buying an additional 660 shares during the period. Lazard Asset Management LLC increased its stake in Surmodics by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after buying an additional 673 shares during the period. Los Angeles Capital Management LLC increased its stake in Surmodics by 3.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock valued at $1,531,000 after buying an additional 1,221 shares during the period. Finally, Rhumbline Advisers increased its stake in Surmodics by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 20,999 shares of the company’s stock valued at $883,000 after buying an additional 2,463 shares during the period. 96.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SRDX. StockNews.com began coverage on shares of Surmodics in a research note on Thursday. They issued a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Price Performance

Shares of NASDAQ SRDX opened at $38.49 on Thursday. The firm has a market capitalization of $549.14 million, a P/E ratio of -384.90 and a beta of 1.20. Surmodics, Inc. has a one year low of $25.17 and a one year high of $42.44. The company’s fifty day moving average is $38.62 and its two-hundred day moving average is $38.60. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98.

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