Neuberger Berman Group LLC Grows Stake in Stratasys, Ltd. $SSYS

Key Points

• Neuberger Berman Group LLC increased its holdings in Stratasys, Ltd. by 2.4% during the first quarter, owning about 6.40% of the company, valued at $45,082,000.
• Stratasys reported earnings of $0.03 EPS in its latest quarterly results, meeting analyst expectations, and had a revenue of $138.09 million, slightly above estimates.
• Analysts have mixed reviews on Stratasys, with a recent price target drop by Needham & Company from $15.00 to $13.00 while maintaining a "buy" rating, reflecting cautious optimism.

Neuberger Berman Group LLC increased its stake in Stratasys, Ltd. (NASDAQ:SSYS - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,592,824 shares of the technology company's stock after purchasing an additional 109,331 shares during the quarter. Neuberger Berman Group LLC owned about 6.40% of Stratasys worth $45,082,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Phoenix Financial Ltd. grew its position in shares of Stratasys by 0.4% in the first quarter. Phoenix Financial Ltd. now owns 3,613,906 shares of the technology company's stock valued at $35,381,000 after purchasing an additional 12,900 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Stratasys by 84.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,130,983 shares of the technology company's stock worth $20,862,000 after buying an additional 977,403 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Stratasys by 2.9% during the first quarter. Exchange Traded Concepts LLC now owns 1,440,033 shares of the technology company's stock worth $14,098,000 after buying an additional 40,135 shares in the last quarter. Legal & General Group Plc grew its position in Stratasys by 0.6% during the fourth quarter. Legal & General Group Plc now owns 941,407 shares of the technology company's stock worth $8,369,000 after buying an additional 5,541 shares in the last quarter. Finally, Formula Growth Ltd. grew its position in Stratasys by 58.3% during the fourth quarter. Formula Growth Ltd. now owns 760,000 shares of the technology company's stock worth $6,756,000 after buying an additional 280,000 shares in the last quarter. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

Stratasys Price Performance

SSYS stock traded down $0.08 during mid-day trading on Monday, hitting $9.32. 544,899 shares of the stock were exchanged, compared to its average volume of 544,433. The business has a fifty day moving average price of $10.92 and a 200 day moving average price of $10.52. Stratasys, Ltd. has a 12 month low of $6.05 and a 12 month high of $12.88. The stock has a market capitalization of $791.45 million, a price-to-earnings ratio of -6.96 and a beta of 1.57.

Stratasys (NASDAQ:SSYS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The technology company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Stratasys had a negative return on equity of 1.06% and a negative net margin of 17.42%. The firm had revenue of $138.09 million during the quarter, compared to analyst estimates of $137.15 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company's revenue was up .1% compared to the same quarter last year. As a group, equities analysts forecast that Stratasys, Ltd. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on SSYS shares. Wall Street Zen cut Stratasys from a "buy" rating to a "hold" rating in a research report on Sunday. Needham & Company LLC reduced their target price on Stratasys from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.20.

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