3D Systems (NYSE:DDD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “3D Systems has an extremely volatile earnings history, oscillating between incredible beats and abysmal misses in the trailing four quarters. Over the past six months, 3D Systems’ shares have grossly underperformed the industry average. Unfavorable macroeconomic factors such as slowdown, inflation, currency fluctuations and commodity prices impacted the company’s performance. This apart, escalating R&D, IT and go-to-market expense may prove as significant headwinds, going forward. However, the company has been benefiting from favorable 3D printing industry fundamentals, led by rising demand for diverse application of this novel technology across several domains. Going forward, strong demand for production printers, materials and software, as well as healthcare solutions will likely act as major catalysts for growth.We also believe the acquisition of Vertex-Global Holding B.V will unlock multiple opportunities for the company.”
A number of other research analysts also recently weighed in on the stock. Piper Jaffray Companies upgraded shares of 3D Systems from an “underweight” rating to a “neutral” rating and set a $6.25 price objective on the stock in a research report on Monday, November 20th. Vetr upgraded shares of 3D Systems from a “buy” rating to a “strong-buy” rating and set a $12.44 price objective on the stock in a research report on Tuesday, January 16th. JPMorgan Chase & Co. downgraded shares of 3D Systems from a “neutral” rating to an “underweight” rating and set a $11.00 price target on the stock. in a research report on Friday, February 9th. Finally, William Blair reiterated an “outperform” rating on shares of 3D Systems in a research report on Thursday, January 25th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. 3D Systems currently has a consensus rating of “Hold” and a consensus price target of $12.68.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DDD. ArrowMark Colorado Holdings LLC increased its stake in shares of 3D Systems by 86.7% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 5,807,983 shares of the 3D printing company’s stock worth $50,181,000 after purchasing an additional 2,697,683 shares in the last quarter. Vident Investment Advisory LLC increased its stake in shares of 3D Systems by 103.9% in the fourth quarter. Vident Investment Advisory LLC now owns 1,956,190 shares of the 3D printing company’s stock worth $16,901,000 after purchasing an additional 996,768 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of 3D Systems by 62.8% in the third quarter. California Public Employees Retirement System now owns 2,086,200 shares of the 3D printing company’s stock worth $27,934,000 after purchasing an additional 805,000 shares in the last quarter. Think Investments LP purchased a new stake in shares of 3D Systems in the third quarter worth $10,511,000. Finally, Royce & Associates LP purchased a new stake in shares of 3D Systems in the fourth quarter worth $4,906,000. Institutional investors and hedge funds own 64.32% of the company’s stock.
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3D Systems Company Profile
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) printing solutions, including 3D printers, print materials, software, on demand manufacturing services and digital design tools. Its precision healthcare capabilities include simulation, Virtual Surgical Planning (VSP), and printing of medical and dental devices and surgical guides and instruments.
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