Primecap Management Co. CA Has $13.09 Million Holdings in Stratasys Ltd. (NASDAQ:SSYS)

Primecap Management Co. CA decreased its holdings in shares of Stratasys Ltd. (NASDAQ:SSYS) by 43.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,472,830 shares of the technology company’s stock after selling 1,113,569 shares during the quarter. Primecap Management Co. CA owned approximately 2.06% of Stratasys worth $13,093,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in Stratasys by 510.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock worth $563,000 after buying an additional 56,699 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Stratasys in the third quarter valued at about $90,000. BNP Paribas Financial Markets raised its holdings in Stratasys by 785.6% during the third quarter. BNP Paribas Financial Markets now owns 129,728 shares of the technology company’s stock worth $1,078,000 after acquiring an additional 115,080 shares in the last quarter. Rubric Capital Management LP boosted its position in Stratasys by 3.7% during the third quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company’s stock valued at $51,447,000 after purchasing an additional 222,297 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in Stratasys in the third quarter valued at approximately $322,000. Institutional investors and hedge funds own 75.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com downgraded Stratasys from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Cantor Fitzgerald lifted their price objective on shares of Stratasys from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Needham & Company LLC upped their target price on shares of Stratasys from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.20.

Stratasys Price Performance

SSYS stock opened at $10.45 on Thursday. The stock has a market cap of $749.43 million, a price-to-earnings ratio of -7.92 and a beta of 1.28. The company has a fifty day moving average price of $10.40 and a two-hundred day moving average price of $9.06. Stratasys Ltd. has a one year low of $6.05 and a one year high of $12.88.

Stratasys (NASDAQ:SSYS) last announced its earnings results on Wednesday, March 5th. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $150.40 million during the quarter, compared to the consensus estimate of $151.01 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. Stratasys’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 EPS. Research analysts anticipate that Stratasys Ltd. will post -0.4 EPS for the current fiscal year.

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.