Primecap Management Co. CA Has $22.43 Million Stake in Stratasys Ltd. (NASDAQ:SSYS)

Primecap Management Co. CA decreased its position in shares of Stratasys Ltd. (NASDAQ:SSYS) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,673,299 shares of the technology company’s stock after selling 24,800 shares during the period. Primecap Management Co. CA owned about 3.84% of Stratasys worth $22,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of Stratasys during the first quarter worth approximately $61,000. Larson Financial Group LLC increased its holdings in shares of Stratasys by 2,711.2% in the first quarter. Larson Financial Group LLC now owns 9,558 shares of the technology company’s stock valued at $111,000 after purchasing an additional 9,218 shares in the last quarter. Values First Advisors Inc. increased its holdings in shares of Stratasys by 51.3% in the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock valued at $278,000 after purchasing an additional 11,254 shares in the last quarter. Olympiad Research LP acquired a new stake in shares of Stratasys in the fourth quarter valued at approximately $486,000. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Stratasys by 4.0% in the first quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock valued at $565,000 after purchasing an additional 1,850 shares in the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Lake Street Capital lowered their price target on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 30th. Craig Hallum lowered their price target on shares of Stratasys from $16.00 to $14.00 and set a “buy” rating for the company in a report on Monday, July 1st. Loop Capital lowered their price target on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, September 5th. StockNews.com began coverage on shares of Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating on the stock. Finally, Cantor Fitzgerald reduced their price objective on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.80.

Stratasys Stock Performance

Shares of SSYS stock opened at $7.48 on Wednesday. Stratasys Ltd. has a 52-week low of $6.05 and a 52-week high of $14.93. The stock has a market cap of $521.03 million, a PE ratio of -4.09 and a beta of 1.18. The firm’s 50 day moving average price is $7.80 and its two-hundred day moving average price is $9.18.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.29%. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. As a group, sell-side analysts predict that Stratasys Ltd. will post -0.44 earnings per share for the current fiscal year.

About Stratasys

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 selective absorption fusion printer for additive manufacturing, and tooling and rapid prototyping for various vertical markets, such as automotive, aerospace, consumer products and healthcare.