J P Morgan Chase & Co upgraded shares of 3D Systems Corporation (NYSE:DDD) from an underweight rating to a neutral rating in a research report report published on Friday.
A number of other research analysts have also recently issued reports on the stock. BidaskClub cut shares of 3D Systems Corporation from a sell rating to a strong sell rating in a research report on Monday, July 31st. Loop Capital began coverage on shares of 3D Systems Corporation in a research report on Monday, July 24th. They set a hold rating and a $18.00 price target for the company. Susquehanna Bancshares Inc began coverage on shares of 3D Systems Corporation in a research report on Thursday, July 13th. They set a neutral rating and a $16.00 price target for the company. Zacks Investment Research raised shares of 3D Systems Corporation from a sell rating to a hold rating in a research report on Tuesday, July 4th. Finally, Piper Jaffray Companies reissued an underweight rating and set a $14.00 price target on shares of 3D Systems Corporation in a research report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. 3D Systems Corporation presently has a consensus rating of Hold and a consensus price target of $17.82.
3D Systems Corporation (NYSE:DDD) traded up 0.60% during midday trading on Friday, hitting $13.47. 4,126,259 shares of the stock traded hands. 3D Systems Corporation has a 52 week low of $12.34 and a 52 week high of $23.70. The stock’s market capitalization is $1.42 billion. The stock’s 50-day moving average price is $19.05 and its 200-day moving average price is $17.54.
3D Systems Corporation (NYSE:DDD) last issued its quarterly earnings results on Wednesday, August 2nd. The 3D printing company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.04. 3D Systems Corporation had a negative net margin of 5.39% and a positive return on equity of 1.69%. The business had revenue of $159.47 million for the quarter, compared to analysts’ expectations of $163.01 million. During the same period last year, the business earned $0.12 earnings per share. The company’s revenue was up .9% on a year-over-year basis. Equities research analysts expect that 3D Systems Corporation will post $0.46 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “3D Systems Corporation (DDD) Upgraded to “Neutral” at J P Morgan Chase & Co” was published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://stocknewstimes.com/2017/08/05/3d-systems-corporation-ddd-upgraded-to-neutral-at-j-p-morgan-chase-co.html.
In other news, Director G Walter Loewenbaum II sold 25,000 shares of 3D Systems Corporation stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $22.29, for a total value of $557,250.00. Following the completion of the sale, the director now directly owns 1,007,106 shares in the company, valued at $22,448,392.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew Martin Johnson sold 10,000 shares of 3D Systems Corporation stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $21.19, for a total transaction of $211,900.00. Following the completion of the sale, the executive vice president now owns 241,666 shares of the company’s stock, valued at $5,120,902.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,500 shares of company stock valued at $2,221,425. 5.00% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in 3D Systems Corporation by 23,856.2% in the first quarter. BlackRock Inc. now owns 11,328,150 shares of the 3D printing company’s stock worth $169,471,000 after buying an additional 11,280,863 shares during the last quarter. Vanguard Group Inc. boosted its stake in 3D Systems Corporation by 1.8% in the first quarter. Vanguard Group Inc. now owns 8,610,984 shares of the 3D printing company’s stock worth $128,820,000 after buying an additional 152,698 shares during the last quarter. State Street Corp boosted its stake in 3D Systems Corporation by 3.2% in the first quarter. State Street Corp now owns 3,329,492 shares of the 3D printing company’s stock worth $49,800,000 after buying an additional 103,745 shares during the last quarter. Investment Management of Virginia LLC boosted its stake in 3D Systems Corporation by 5.5% in the first quarter. Investment Management of Virginia LLC now owns 1,697,859 shares of the 3D printing company’s stock worth $25,400,000 after buying an additional 88,763 shares during the last quarter. Finally, OppenheimerFunds Inc. bought a new stake in 3D Systems Corporation during the first quarter worth $20,539,000. Hedge funds and other institutional investors own 54.56% of the company’s stock.
About 3D Systems Corporation
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) printing solutions, including 3D printers, print materials, software, on demand manufacturing services and digital design tools. Its precision healthcare capabilities include simulation, Virtual Surgical Planning (VSP), and printing of medical and dental devices and surgical guides and instruments.
Receive News & Ratings for 3D Systems Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3D Systems Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
