Stratasys, Ltd. (NASDAQ:SSYS) released its quarterly earnings results on Wednesday. The technology company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.16, Bloomberg Earnings reports. Stratasys had a negative return on equity of 0.03% and a negative net margin of 10.17%. The company had revenue of $170 million during the quarter, compared to analysts’ expectations of $167.82 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Stratasys updated its FY17 guidance to $0.19-0.37 EPS.
Shares of Stratasys (NASDAQ SSYS) traded up 3.7241% during midday trading on Thursday, hitting $23.1201. The stock had a trading volume of 184,556 shares. The firm’s market cap is $1.22 billion. Stratasys has a 1-year low of $16.37 and a 1-year high of $30.88. The firm has a 50-day moving average price of $24.11 and a 200-day moving average price of $23.33.
Several research firms recently commented on SSYS. Citigroup Inc. upgraded Stratasys from a “neutral” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Thursday. Cowen and Company set a $27.00 target price on Stratasys and gave the company a “hold” rating in a research note on Monday. Jefferies Group LLC reiterated a “hold” rating and issued a $30.00 target price on shares of Stratasys in a research note on Friday, August 4th. BidaskClub lowered Stratasys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Loop Capital began coverage on Stratasys in a research note on Monday, July 24th. They issued a “hold” rating and a $24.00 target price for the company. Six analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Stratasys presently has a consensus rating of “Hold” and an average price target of $24.01.
Several hedge funds have recently made changes to their positions in SSYS. Primecap Management Co. CA raised its stake in shares of Stratasys by 25.6% in the first quarter. Primecap Management Co. CA now owns 6,291,000 shares of the technology company’s stock valued at $128,903,000 after buying an additional 1,281,000 shares in the last quarter. Columbus Circle Investors purchased a new stake in shares of Stratasys during the second quarter valued at about $10,407,000. Royce & Associates LP raised its stake in shares of Stratasys by 542.5% in the first quarter. Royce & Associates LP now owns 451,646 shares of the technology company’s stock valued at $9,254,000 after buying an additional 381,346 shares in the last quarter. Norges Bank purchased a new stake in shares of Stratasys during the fourth quarter valued at about $4,187,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Stratasys by 65.9% in the first quarter. Dimensional Fund Advisors LP now owns 528,544 shares of the technology company’s stock valued at $10,829,000 after buying an additional 209,886 shares in the last quarter. Institutional investors and hedge funds own 66.46% 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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