California State Teachers Retirement System Decreases Stake in Safeguard Scientifics Inc. (SFE)
California State Teachers Retirement System decreased its position in Safeguard Scientifics Inc. (NYSE:SFE) by 4.6% during the second quarter, Holdings Channel reports. The firm owned 42,210 shares of the company’s stock after selling 2,039 shares during the period. California State Teachers Retirement System owned about 0.21% of Safeguard Scientifics worth $527,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Safeguard Scientifics by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 85,765 shares of the company’s stock worth $1,071,000 after buying an additional 2,448 shares in the last quarter. American Research & Management Co. boosted its position in Safeguard Scientifics by 13.3% in the second quarter. American Research & Management Co. now owns 170,866 shares of the company’s stock worth $2,134,000 after buying an additional 20,100 shares in the last quarter. Bank of Montreal Can bought a new position in Safeguard Scientifics during the second quarter worth approximately $5,664,000. LaSalle Street Capital Management LLC boosted its position in 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. Finally, First Manhattan Co. boosted its position in Safeguard Scientifics by 0.5% in the second quarter. First Manhattan Co. now owns 1,693,363 shares of the company’s stock worth $21,150,000 after buying an additional 8,605 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Safeguard Scientifics Inc. (NYSE:SFE) traded down 1.42% during midday trading on Friday, hitting $13.20. 27,072 shares of the stock were exchanged. The company’s market capitalization is $266.96 million. Safeguard Scientifics Inc. has a 1-year low of $11.40 and a 1-year high of $18.07. The firm has a 50-day moving average of $13.48 and a 200-day moving average of $13.32.
Safeguard Scientifics (NYSE:SFE) last posted its quarterly earnings data 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 quarter last year, the company posted ($0.91) EPS. On average, equities analysts expect that Safeguard Scientifics Inc. will post $0.24 EPS for the current year.
Separately, Zacks Investment Research raised shares of Safeguard Scientifics from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, June 14th.
In related news, CEO Stephen T. Zarrilli acquired 3,900 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average price of $12.75 per share, for a total transaction of $49,725.00. Following the completion of the acquisition, the chief executive officer now directly 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 link. Insiders own 2.67% of the company’s stock.
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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