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

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Stratasys during the fourth quarter valued at $90,000. ARK Investment Management LLC raised its position in shares of Stratasys by 8.7% during 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 in the last quarter. RPG Investment Advisory LLC lifted its holdings in shares of 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 acquiring an additional 426,341 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Stratasys by 53.1% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,153,580 shares of the technology company’s stock worth $10,255,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake 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 worth $12,445,000 after acquiring an additional 9,522 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors.

Stratasys Stock Up 3.6 %

Shares of Stratasys stock opened at $10.23 on Tuesday. The stock’s fifty day moving average is $10.35 and its two-hundred day moving average is $9.02. Stratasys Ltd. has a 52 week low of $6.05 and a 52 week high of $12.88. The company has a market capitalization of $733.65 million, a PE ratio of -7.75 and a beta of 1.28.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $150.40 million for the quarter, compared to analysts’ expectations of $151.01 million. During the same period in the prior year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, research analysts anticipate that Stratasys Ltd. will post -0.4 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on SSYS. Needham & Company LLC lifted their target price on Stratasys from $12.00 to $13.00 and gave the stock a “buy” rating in a 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 increased their target price on shares of Stratasys from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Stratasys presently has an average rating of “Moderate Buy” and a consensus price target of $12.20.

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.