Connor Clark & Lunn Investment Management Ltd. Grows Holdings in Stratasys Ltd. (NASDAQ:SSYS)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Stratasys Ltd. (NASDAQ:SSYS - Free Report) by 401.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 340,001 shares of the technology company's stock after purchasing an additional 272,198 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.48% of Stratasys worth $3,023,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Stratasys during the 4th quarter valued at about $90,000. ARK Investment Management LLC boosted its position in Stratasys by 8.7% in the 4th quarter. ARK Investment Management LLC now owns 703,525 shares of the technology company's stock valued at $6,254,000 after buying an additional 56,304 shares during the period. RPG Investment Advisory LLC boosted its position in Stratasys by 64.6% in the 4th quarter. RPG Investment Advisory LLC now owns 1,086,337 shares of the technology company's stock valued at $9,658,000 after buying an additional 426,341 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Stratasys by 53.1% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,153,580 shares of the technology company's stock valued at $10,255,000 after buying an additional 400,000 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in Stratasys by 0.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,399,898 shares of the technology company's stock valued at $12,445,000 after buying an additional 9,522 shares during the period. 75.77% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

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

Stratasys Trading Down 2.6 %

Shares of SSYS traded down $0.27 during mid-day trading on Friday, hitting $10.19. The company's stock had a trading volume of 600,822 shares, compared to its average volume of 570,901. The firm has a market capitalization of $730.79 million, a price-to-earnings ratio of -7.72 and a beta of 1.28. Stratasys Ltd. has a 52-week low of $6.05 and a 52-week high of $12.88. The company's 50-day moving average is $10.43 and its 200-day moving average is $9.07.

Stratasys (NASDAQ:SSYS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. The business had revenue of $150.40 million during the quarter, compared to analysts' expectations of $151.01 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The business's quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. As a group, sell-side analysts predict that Stratasys Ltd. will post -0.4 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.