Zacks Investment Research upgraded shares of Safeguard Scientifics Inc. (NYSE:SFE) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $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) traded down 1.36% during midday trading on Wednesday, reaching $13.01. 763 shares of the company’s stock traded hands. The stock has a 50 day moving average of $13.40 and a 200-day moving average of $13.32. Safeguard Scientifics has a 52-week low of $11.40 and a 52-week high of $18.07. The stock’s market cap is $263.11 million.
Safeguard Scientifics (NYSE:SFE) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.45. During the same quarter in the prior year, the firm earned ($0.91) EPS. On average, equities research analysts expect that Safeguard Scientifics will post $0.24 EPS for the current year.
In other Safeguard Scientifics news, CEO Stephen T. Zarrilli purchased 3,900 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was bought at an average cost of $12.75 per share, with a total value of $49,725.00. Following the purchase, the chief executive officer now directly owns 103,606 shares of the company’s stock, valued at $1,320,976.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.67% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Safeguard Scientifics during the second quarter valued at $5,664,000. Keane Capital Partners LLC bought a new stake in Safeguard Scientifics during the first quarter valued at approximately $1,132,000. United Services Automobile Association increased its stake in Safeguard Scientifics by 58.1% in the second quarter. United Services Automobile Association now owns 227,688 shares of the company’s stock valued at $2,844,000 after buying an additional 83,700 shares during the last quarter. Renaissance Technologies LLC increased its stake in Safeguard Scientifics by 216.0% in the first quarter. Renaissance Technologies LLC now owns 94,800 shares of the company’s stock valued at $1,256,000 after buying an additional 64,800 shares during the last quarter. Finally, Yakira Capital Management Inc. increased its stake in Safeguard Scientifics by 14.3% in the first quarter. Yakira Capital Management Inc. now owns 487,645 shares of the company’s stock valued at $6,461,000 after buying an additional 60,823 shares during the last quarter. 78.62% of the stock is owned by institutional investors.
Safeguard Scientifics Company Profile
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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