Stratasys (NASDAQ:SSYS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “Stratasys is one of the leading 3D printing solution providers. The stock has outperformed the broader market in the last one year period. We are positive about Stratasys’ turnaround strategies which include launching innovative products, strategic partnerships and acquisitions. The company’s sustained focus on launching new products and entering into strategic partnerships will drive long-term growth. The initiatives will help Stratasys to gain more market share as the prospect of 3D printing industry appears bright. Notably, data from the MarketsandMarkets report 2017 revealed that the worldwide 3D printing industry is expected to grow at a CAGR of 25.76% through 2017 to 2023. Nonetheless, we remain concerned about the company’s declining gross margin which has been impacted by the incremental sales generated from the lower-margin products of acquired businesses including MakerBot, Solid Concepts and Harvest Technologies.”
Other research analysts have also recently issued research reports about the company. BidaskClub upgraded Stratasys from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. B. Riley reiterated a “hold” rating and issued a $30.00 price target on shares of Stratasys in a research note on Wednesday, November 15th. KeyCorp reiterated a “hold” rating on shares of Stratasys in a research note on Friday, October 27th. Needham & Company LLC reiterated a “hold” rating on shares of Stratasys in a research note on Friday, October 13th. Finally, FBR & Co cut Stratasys from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 1st. Five analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $24.94.
Stratasys (NASDAQ:SSYS) last released its quarterly earnings results on Tuesday, November 14th. The technology company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. Stratasys had a positive return on equity of 0.62% and a negative net margin of 6.74%. The business had revenue of $155.90 million for the quarter, compared to analysts’ expectations of $160.97 million. The business’s revenue for the quarter was down .8% on a year-over-year basis. analysts forecast that Stratasys will post 0.17 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Stratasys by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,976,182 shares of the technology company’s stock worth $45,690,000 after purchasing an additional 17,809 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Stratasys by 46.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,795,494 shares of the technology company’s stock worth $41,511,000 after purchasing an additional 566,704 shares during the period. AXA raised its position in shares of Stratasys by 38.1% during the 3rd quarter. AXA now owns 1,058,110 shares of the technology company’s stock worth $24,464,000 after purchasing an additional 292,084 shares during the period. State Street Corp raised its position in shares of Stratasys by 6.5% during the 2nd quarter. State Street Corp now owns 881,966 shares of the technology company’s stock worth $20,559,000 after purchasing an additional 53,627 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of Stratasys by 280.2% during the 3rd quarter. Alyeska Investment Group L.P. now owns 855,447 shares of the technology company’s stock worth $19,778,000 after purchasing an additional 630,447 shares during the period. Institutional investors and hedge funds own 70.99% of the company’s stock.
Stratasys, Inc is a manufacturer of three-dimensional (3D) printers and rapid prototyping (RP) systems for the office-based RP and direct digital manufacturing (DDM) markets. The Company develops, manufactures and sells a product line of 3D printers and DDM systems (and related consumable materials) that create physical models from computer-aided design (CAD) designs.
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