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

Primecap Management Co. CA lowered its stake in Stratasys Ltd. (NASDAQ:SSYS - Free Report) by 43.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 owned about 2.06% of Stratasys worth $13,093,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SSYS. State Street Corp lifted its stake in Stratasys by 1.4% in the third quarter. State Street Corp now owns 105,578 shares of the technology company's stock valued at $877,000 after buying an additional 1,500 shares during the period. Barclays PLC raised its position in shares of Stratasys by 1.9% in the 3rd quarter. Barclays PLC now owns 80,454 shares of the technology company's stock valued at $669,000 after acquiring an additional 1,525 shares during the period. Tidal Investments LLC raised its position in shares of Stratasys by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 56,176 shares of the technology company's stock valued at $467,000 after acquiring an additional 2,483 shares during the period. Stifel Financial Corp boosted its stake in Stratasys by 24.7% during the 3rd quarter. Stifel Financial Corp now owns 23,206 shares of the technology company's stock worth $193,000 after acquiring an additional 4,600 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Stratasys by 0.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,399,898 shares of the technology company's stock valued at $12,445,000 after purchasing 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 brokerages have recently issued reports on SSYS. Needham & Company LLC boosted their price target on shares of Stratasys from $12.00 to $13.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Cantor Fitzgerald lifted their target price on Stratasys from $12.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Finally, StockNews.com lowered Stratasys from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Stratasys presently has an average rating of "Moderate Buy" and an average target price of $12.20.

Stratasys Stock Up 1.6 %

SSYS traded up $0.16 during trading on Monday, hitting $10.35. The company had a trading volume of 231,718 shares, compared to its average volume of 571,793. The firm's 50-day moving average price is $10.45 and its 200 day moving average price is $9.12. The company has a market capitalization of $742.26 million, a PE ratio of -7.84 and a beta of 1.28. Stratasys Ltd. has a one year low of $6.05 and a one year high of $12.88.

Stratasys (NASDAQ:SSYS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. The company had revenue of $150.40 million for the quarter, compared to analyst estimates of $151.01 million. During the same period in the previous year, the company posted $0.02 earnings per share. The company's quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts forecast that Stratasys Ltd. will post -0.4 earnings per share for the current 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.