Shares of Stratasys Ltd (NASDAQ:SSYS) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $24.49, but opened at $22.85. Stratasys shares last traded at $23.95, with a volume of 600406 shares changing hands.
The technology company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. Stratasys had a negative net margin of 5.57% and a positive return on equity of 0.78%. The business had revenue of $162.00 million during the quarter, compared to the consensus estimate of $161.88 million. During the same period in the previous year, the business earned $0.08 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis.
Several research analysts have commented on the stock. Loop Capital boosted their price objective on shares of Stratasys to $21.00 and gave the company a “positive” rating in a research report on Thursday, August 2nd. They noted that the move was a valuation call. ValuEngine upgraded shares of Stratasys from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Zacks Investment Research downgraded shares of Stratasys from a “buy” rating to a “hold” rating in a report on Monday, August 20th. Finally, BidaskClub upgraded shares of Stratasys from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Stratasys has an average rating of “Hold” and an average price target of $22.89.
Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in shares of Stratasys by 17.5% during the third quarter. Wells Fargo & Company MN now owns 53,806 shares of the technology company’s stock worth $1,243,000 after buying an additional 8,008 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Stratasys during the third quarter worth $140,000. State Treasurer State of Michigan increased its holdings in shares of Stratasys by 32.4% during the third quarter. State Treasurer State of Michigan now owns 1,224,603 shares of the technology company’s stock worth $28,301,000 after buying an additional 300,000 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Stratasys by 48.3% during the third quarter. Alps Advisors Inc. now owns 22,295 shares of the technology company’s stock worth $515,000 after buying an additional 7,260 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. acquired a new position in shares of Stratasys during the third quarter worth $169,000. Institutional investors own 76.50% of the company’s stock.
The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 184.23, a price-to-earnings-growth ratio of 6.30 and a beta of 1.72. The company has a quick ratio of 2.97, a current ratio of 3.66 and a debt-to-equity ratio of 0.02.
About Stratasys (NASDAQ:SSYS)
Stratasys Ltd. provides 3D printing and additive manufacturing solutions for individuals, small and large businesses, and enterprises. Its 3D printing systems utilize its fused deposition modeling (FDM) and inkjet-based PolyJet technologies to enable the production of prototypes, tools used for production and manufactured goods directly from 3D CAD files or other 3D content.
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