Primecap Management Co. CA Sells 1,113,569 Shares of Stratasys Ltd. (NASDAQ:SSYS)

Primecap Management Co. CA lowered its holdings in Stratasys Ltd. (NASDAQ:SSYS) by 43.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,472,830 shares of the technology company’s stock after selling 1,113,569 shares during the quarter. Primecap Management Co. CA’s holdings in Stratasys were worth $13,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Royce & Associates LP bought a new stake in shares of Stratasys in the fourth quarter valued at approximately $1,467,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Stratasys by 401.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 340,001 shares of the technology company’s stock worth $3,023,000 after purchasing an additional 272,198 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Stratasys in the fourth quarter worth $90,000. ARK Investment Management LLC raised its stake in Stratasys by 8.7% in the fourth quarter. ARK Investment Management LLC now owns 703,525 shares of the technology company’s stock valued at $6,254,000 after purchasing an additional 56,304 shares in the last quarter. Finally, RPG Investment Advisory LLC raised its stake in Stratasys by 64.6% in the fourth quarter. RPG Investment Advisory LLC now owns 1,086,337 shares of the technology company’s stock valued at $9,658,000 after purchasing an additional 426,341 shares in the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

Analysts Set New Price Targets

SSYS has been the topic of several recent analyst reports. Cantor Fitzgerald raised their target price on shares of Stratasys from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Needham & Company LLC lifted their price objective on shares of Stratasys from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, StockNews.com downgraded shares of Stratasys from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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 50 day simple moving average of $10.40 and a 200 day simple moving average of $9.06. Stratasys Ltd. has a 1 year low of $6.05 and a 1 year high of $12.88.

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

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