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 firm currently has a $15.00 target price on the stock. Zacks Investment Research’s target price points to 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. “

Safeguard Scientifics (NYSE:SFE) opened at 13.09 on Wednesday. The firm’s market cap is $264.73 million. The firm has a 50-day moving average price of $13.43 and a 200 day moving average price of $13.32. Safeguard Scientifics has a 1-year low of $11.40 and a 1-year high of $18.07.

Safeguard Scientifics (NYSE:SFE) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.45. During the same period in the prior year, the business posted ($0.91) earnings per share. Equities analysts predict that Safeguard Scientifics will post $0.24 earnings per share 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 shares were bought at an average price 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 approximately $1,320,976.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.67% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the stock. KBC Group NV raised its stake in shares of Safeguard Scientifics by 112.7% in the second quarter. KBC Group NV now owns 8,465 shares of the company’s stock worth $106,000 after buying an additional 4,486 shares in the last quarter. PineBridge Investments L.P. raised its stake in shares of Safeguard Scientifics by 50.4% in the second quarter. PineBridge Investments L.P. now owns 8,591 shares of the company’s stock worth $107,000 after buying an additional 2,880 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Safeguard Scientifics during the second quarter worth $129,000. Neuberger Berman Group LLC purchased a new stake in shares of Safeguard Scientifics during the second quarter worth $131,000. Finally, LaSalle Street Capital Management LLC raised its stake in shares of Safeguard Scientifics by 2.5% in the second quarter. LaSalle Street Capital Management LLC now owns 11,714 shares of the company’s stock worth $146,000 after buying an additional 287 shares in 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).

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