3D Systems (NYSE:DDD) Issues Quarterly Earnings Results

3D Systems (NYSE:DDD) announced its earnings results on Monday. The 3D printing company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01, FiscalAI reports. The firm had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $93.76 million. 3D Systems had a net margin of 16.10% and a negative return on equity of 19.64%.

3D Systems Stock Up 7.6%

NYSE:DDD traded up $0.20 on Monday, reaching $2.84. 4,319,592 shares of the stock traded hands, compared to its average volume of 3,827,953. The company has a current ratio of 2.76, a quick ratio of 1.73 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $417.34 million, a price-to-earnings ratio of 11.36 and a beta of 2.73. 3D Systems has a 12 month low of $1.62 and a 12 month high of $4.12. The company’s fifty day simple moving average is $3.02 and its 200 day simple moving average is $2.54.

Hedge Funds Weigh In On 3D Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of 3D Systems by 15.9% in the 4th quarter. State Street Corp now owns 11,359,707 shares of the 3D printing company’s stock worth $20,107,000 after purchasing an additional 1,556,321 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 3D Systems by 3.4% during the second quarter. Geode Capital Management LLC now owns 3,165,629 shares of the 3D printing company’s stock valued at $4,876,000 after purchasing an additional 105,500 shares in the last quarter. Nuveen LLC boosted its position in shares of 3D Systems by 406.4% during the fourth quarter. Nuveen LLC now owns 2,704,430 shares of the 3D printing company’s stock valued at $4,787,000 after buying an additional 2,170,415 shares during the last quarter. Icon Advisers Inc. Co. boosted its position in shares of 3D Systems by 23.8% during the third quarter. Icon Advisers Inc. Co. now owns 2,600,000 shares of the 3D printing company’s stock valued at $7,540,000 after buying an additional 500,000 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in 3D Systems by 80.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,836,053 shares of the 3D printing company’s stock worth $5,325,000 after buying an additional 816,239 shares in the last quarter. 64.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of 3D Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price target on shares of 3D Systems in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.00.

About 3D Systems

3D Systems, founded in 1986 by stereolithography pioneer Chuck Hull, is a leading provider of additive manufacturing solutions. Headquartered in Rock Hill, South Carolina, the company develops and sells a broad range of 3D printers, materials, software, and on-demand manufacturing services. Its core technologies include stereolithography (SLA), selective laser sintering (SLS), direct metal printing (DMP), and multi-jet printing (MJP), enabling customers to build prototypes, production parts, and complex geometries across a variety of industries.

The company’s hardware portfolio spans desktop to production-scale systems designed for applications in aerospace, automotive, healthcare, consumer products, and education.