Zacks Investment Research upgraded shares of Safeguard Scientifics Inc. (NYSE:SFE) from a hold rating to a buy rating in a report issued on Wednesday morning. The firm currently has $15.00 target price on the stock.
According to Zacks, “Safeguard Scientifics, Inc. is a diversified information technology company that develops, operates and manages emerging growth information technology companies. The company is currently focusing on emerging opportunities in eCommerce, enterprise applications, and network infrastructure, all of which are expected to benefit from the growing use of the Internet as a fundamental business tool. The company works closely with our partnership companies to provide numerous operational and management services to build value in preparation for public rights offerings and beyond. “
Shares of Safeguard Scientifics (NYSE:SFE) opened at 12.95 on Wednesday. The stock’s market capitalization is $261.90 million. The stock has a 50 day moving average price of $13.34 and a 200 day moving average price of $13.32. Safeguard Scientifics has a one year low of $11.40 and a one year high of $18.07.
Safeguard Scientifics (NYSE:SFE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.45. During the same period in the previous year, the business earned ($0.91) EPS. Equities analysts forecast that Safeguard Scientifics will post $0.24 earnings per share for the current year.
In other news, CEO Stephen T. Zarrilli acquired 3,900 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was bought at an average cost of $12.75 per share, for a total transaction of $49,725.00. Following the purchase, the chief executive officer now owns 103,606 shares in the company, valued at $1,320,976.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.67% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in shares of Safeguard Scientifics during the second quarter valued at $616,000. Keane Capital Partners LLC bought a new position in shares of Safeguard Scientifics during the first quarter valued at $1,132,000. Bank of Montreal Can bought a new position in shares of Safeguard Scientifics during the second quarter valued at $5,664,000. BlackRock Group LTD boosted its position in shares of Safeguard Scientifics by 38.2% in the first quarter. BlackRock Group LTD now owns 113,075 shares of the company’s stock valued at $1,498,000 after buying an additional 31,256 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Safeguard Scientifics by 5.8% in the first quarter. Geode Capital Management LLC now owns 133,856 shares of the company’s stock valued at $1,773,000 after buying an additional 7,330 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.
About Safeguard Scientifics
Safeguard Scientifics, Inc provides capital, as well as strategic, operational and management resources to growth-stage businesses. The Company participates in early- and growth-stage financings. The Company operates through two segments: Healthcare and Technology. The Healthcare segment’s companies focuses principally on medical technology (MedTech), including diagnostics and devices, and healthcare technology (HealthTech).
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