Safeguard Scientifics Inc. (SFE) Stock Rating Upgraded by Zacks Investment Research
Safeguard Scientifics Inc. (NYSE:SFE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $15.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 14.59% from the stock’s previous close.
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 13.09 on Wednesday. Safeguard Scientifics has a 12 month low of $11.40 and a 12 month high of $18.07. The company’s 50-day moving average price is $13.43 and its 200-day moving average price is $13.32. The company’s market cap is $264.73 million.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/12/safeguard-scientifics-inc-sfe-stock-rating-upgraded-by-zacks-investment-research.html
Safeguard Scientifics (NYSE:SFE) last posted its earnings results on Thursday, July 28th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.45. During the same period in the previous year, the company posted ($0.91) EPS. Analysts anticipate that Safeguard Scientifics will post $0.24 EPS for the current year.
In other Safeguard Scientifics news, CEO Stephen T. Zarrilli acquired 3,900 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were bought at an average price of $12.75 per share, for a total transaction of $49,725.00. Following the completion of the transaction, the chief executive officer now owns 103,606 shares of the company’s stock, valued at approximately $1,320,976.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.67% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. BlackRock Group LTD increased its stake 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 worth $1,498,000 after buying an additional 31,256 shares during the period. JPMorgan Chase & Co. increased its stake in Safeguard Scientifics by 13.0% in the first quarter. JPMorgan Chase & Co. now owns 86,888 shares of the company’s stock worth $1,151,000 after buying an additional 10,000 shares during the last quarter. 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 worth $6,461,000 after buying an additional 60,823 shares during the last quarter. Geode Capital Management LLC increased its stake in Safeguard Scientifics by 5.8% in the first quarter. Geode Capital Management LLC now owns 133,856 shares of the company’s stock worth $1,773,000 after buying an additional 7,330 shares during the last quarter. Finally, 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 worth $1,256,000 after buying an additional 64,800 shares during the last quarter. Institutional investors own 78.62% 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Safeguard Scientifics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safeguard Scientifics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.