Stratasys (NASDAQ:SSYS) Issues Earnings Results

Stratasys (NASDAQ:SSYS) announced its quarterly earnings results on Thursday. The technology company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02, reports. The firm had revenue of $162.13 million during the quarter, compared to analysts’ expectations of $161.72 million. Stratasys had a negative net margin of 17.53% and a negative return on equity of 1.96%. Stratasys updated its FY23 guidance to $0.10-0.14 EPS and its FY 2023 guidance to $0.10-$0.14 EPS.

Stratasys Trading Up 5.4 %

Shares of Stratasys stock opened at $10.83 on Friday. The firm has a market capitalization of $740.77 million, a PE ratio of -6.73 and a beta of 1.45. The firm’s 50 day moving average is $11.62 and its 200 day moving average is $14.73. Stratasys has a 1 year low of $9.95 and a 1 year high of $21.72.

Analyst Ratings Changes

Several analysts have weighed in on SSYS shares. Needham & Company LLC dropped their price objective on shares of Stratasys from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com started coverage on shares of Stratasys in a research note on Sunday. They issued a “buy” rating for the company.

Institutional Investors Weigh In On Stratasys

Several hedge funds and other institutional investors have recently made changes to their positions in SSYS. Neuberger Berman Group LLC grew its holdings in Stratasys by 34.8% during the 1st quarter. Neuberger Berman Group LLC now owns 3,883,301 shares of the technology company’s stock worth $64,112,000 after acquiring an additional 1,001,968 shares during the last quarter. Rubric Capital Management LP acquired a new position in shares of Stratasys in the 3rd quarter worth approximately $12,394,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Stratasys in the 2nd quarter worth approximately $13,206,000. Norges Bank acquired a new position in shares of Stratasys in the 4th quarter worth approximately $8,760,000. Finally, Anson Funds Management LP acquired a new position in shares of Stratasys in the 2nd quarter worth approximately $8,062,000. 72.65% of the stock is owned by institutional investors.

Stratasys Company Profile

Stratasys Ltd. provides connected polymer-based 3D printing solutions. It offers range of 3D printing systems, which includes polyjet printer, Fused Deposition Modeling (FDM) printers, stereolithography printing systems, origin P3 printers, and SAF printer for manufacturing, tooling and rapid prototyping, and various vertical markets, such as automotive, aerospace, consumer products and healthcare.