Stratasys (NASDAQ:SSYS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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.”
A number of other research firms have also recently issued reports on SSYS. BidaskClub upgraded Stratasys from a “hold” rating to a “buy” rating in a report on Tuesday. KeyCorp reiterated a “hold” rating on shares of Stratasys in a report on Friday, October 27th. B. Riley reiterated a “neutral” rating and issued a $30.00 price objective (down from $33.00) on shares of Stratasys in a report on Thursday, November 2nd. FBR & Co cut Stratasys from a “buy” rating to a “neutral” rating in a report on Wednesday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Stratasys in a report on Friday, October 13th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $24.94.
Stratasys (NASDAQ:SSYS) last posted its quarterly earnings data on Tuesday, November 14th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $155.90 million during the quarter, compared to analysts’ expectations of $160.97 million. Stratasys’s revenue was down .8% compared to the same quarter last year. research analysts expect that Stratasys will post 0.17 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its holdings in Stratasys by 11.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,388 shares of the technology company’s stock valued at $102,000 after acquiring an additional 458 shares during the period. Advisor Group Inc. boosted its holdings in Stratasys by 6.8% during the 2nd quarter. Advisor Group Inc. now owns 8,254 shares of the technology company’s stock valued at $193,000 after acquiring an additional 528 shares during the period. Chicago Equity Partners LLC purchased a new stake in Stratasys during the 3rd quarter valued at about $214,000. Nomura Holdings Inc. purchased a new stake in Stratasys during the 2nd quarter valued at about $227,000. Finally, Thompson Investment Management Inc. purchased a new stake in Stratasys during the 3rd quarter valued at about $245,000. Institutional investors own 70.99% of the company’s stock.
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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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