BlackRock Inc. Buys New Shares in Schrodinger, Inc. $SDGR

Key Points

• BlackRock acquired 10.5 million Schrodinger shares worth approximately $171 million, giving it a 14.25% stake in the company. Institutional investors and hedge funds collectively own 79.05% of Schrodinger.
• Schrodinger reported quarterly EPS of $0.08, surpassing the expected loss of $0.41, while revenue of $58.89 million exceeded estimates and increased 7.5% year over year.
• Analysts maintain a mixed but overall “Hold” view, with an average price target of $20.50; recent targets include UBS at $19 and Morgan Stanley at $17.

BlackRock Inc. purchased a new position in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,521,724 shares of the company's stock, valued at approximately $170,978,000. BlackRock Inc. owned about 14.25% of Schrodinger as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in Schrodinger by 722.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,374 shares of the company's stock worth $25,000 after acquiring an additional 1,207 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Schrodinger in the 4th quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its stake in shares of Schrodinger by 5,025.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,589 shares of the company's stock worth $28,000 after buying an additional 1,558 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Schrodinger during the 4th quarter worth about $36,000. Finally, State of Wyoming bought a new stake in Schrodinger in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Schrodinger Stock Down 3.5%

Shares of SDGR stock opened at $19.70 on Friday. Schrodinger, Inc. has a 12-month low of $10.94 and a 12-month high of $23.02. The firm has a fifty day moving average of $16.89 and a 200-day moving average of $14.15. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -26.62 and a beta of 1.63.

Schrodinger (NASDAQ:SDGR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.49. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%.The firm had revenue of $58.89 million during the quarter, compared to analysts' expectations of $47.19 million. During the same quarter in the prior year, the company earned ($0.65) EPS. The company's revenue was up 7.5% on a year-over-year basis. On average, equities analysts expect that Schrodinger, Inc. will post -1.89 EPS for the current year.

Analyst Ratings Changes

SDGR has been the topic of several recent analyst reports. UBS Group assumed coverage on Schrodinger in a research note on Friday, August 14th. They issued a "neutral" rating and a $19.00 price target on the stock. Weiss Ratings raised shares of Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday. Morgan Stanley reduced their target price on shares of Schrodinger from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 14th. Finally, Wall Street Zen raised shares of Schrodinger from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $20.50.

Schrodinger Company Profile

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.

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