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

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Stratasys Ltd. (NASDAQ:SSYS) by 401.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 340,001 shares of the technology company’s stock after buying an additional 272,198 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Stratasys were worth $3,023,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Invenomic Capital Management LP bought a new position in Stratasys during the 3rd quarter worth about $10,916,000. RPG Investment Advisory LLC boosted its stake in shares of Stratasys by 64.6% during 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. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Stratasys by 53.1% during the fourth 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. Clearline Capital LP raised its stake in Stratasys by 23.3% in the third quarter. Clearline Capital LP now owns 1,367,226 shares of the technology company’s stock worth $11,362,000 after buying an additional 258,603 shares in the last quarter. Finally, Rubric Capital Management LP lifted its holdings 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 worth $51,447,000 after buying an additional 222,297 shares during the period. 75.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SSYS has been the topic of a number of analyst reports. StockNews.com downgraded Stratasys from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Needham & Company LLC lifted their target price on Stratasys from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Cantor Fitzgerald increased their price target 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Stratasys presently has an average rating of “Moderate Buy” and a consensus price target of $12.20.

Stratasys Price Performance

Shares of SSYS stock opened at $10.23 on Tuesday. The stock’s fifty day moving average price is $10.35 and its 200 day moving average price is $9.02. Stratasys Ltd. has a 1-year low of $6.05 and a 1-year high of $12.88. The company has a market cap of $733.65 million, a price-to-earnings ratio of -7.75 and a beta of 1.28.

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