Zacks Investment Research upgraded shares of Safeguard Scientifics, Inc (NYSE:SFE) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $14.00 price objective 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. “
Safeguard Scientifics (NYSE:SFE) opened at 12.55 on Wednesday. The company’s market cap is $255.57 million. Safeguard Scientifics has a 12 month low of $10.60 and a 12 month high of $14.75. The company has a 50-day moving average of $12.50 and a 200 day moving average of $12.62.
Safeguard Scientifics (NYSE:SFE) last announced its quarterly earnings results on Thursday, March 2nd. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by $0.06. During the same quarter in the prior year, the firm posted ($0.69) EPS. On average, equities analysts forecast that Safeguard Scientifics will post ($1.35) earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in SFE. Renaissance Technologies LLC boosted its position in shares of Safeguard Scientifics by 36.8% in the fourth quarter. Renaissance Technologies LLC now owns 235,717 shares of the company’s stock valued at $3,170,000 after buying an additional 63,417 shares in the last quarter. New Jersey Better Educational Savings Trust bought a new position in shares of Safeguard Scientifics during the third quarter valued at about $544,000. Two Sigma Investments LP boosted its position in shares of Safeguard Scientifics by 81.3% in the fourth quarter. Two Sigma Investments LP now owns 53,052 shares of the company’s stock valued at $714,000 after buying an additional 23,786 shares in the last quarter. Perritt Capital Management Inc. bought a new position in shares of Safeguard Scientifics during the fourth quarter valued at about $319,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Safeguard Scientifics during the fourth quarter valued at about $261,000. Institutional investors own 77.30% 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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