3D Systems (NYSE:DDD) PT Lowered to $12.00 at Bank of America

3D Systems (NYSE:DDDGet Rating) had its price objective dropped by analysts at Bank of America from $23.00 to $12.00 in a report released on Tuesday, The Fly reports. Bank of America‘s price target would indicate a potential upside of 18.23% from the stock’s current price.

DDD has been the subject of several other research reports. Lake Street Capital decreased their target price on 3D Systems from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, March 1st. B. Riley decreased their target price on 3D Systems from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, March 1st. Craig Hallum decreased their target price on 3D Systems from $33.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, March 1st. StockNews.com raised 3D Systems from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, JPMorgan Chase & Co. decreased their target price on 3D Systems from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Tuesday, March 1st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.57.

DDD traded down $0.08 during midday trading on Tuesday, reaching $10.15. 4,108,682 shares of the company’s stock traded hands, compared to its average volume of 1,837,902. The firm has a fifty day moving average of $14.59 and a two-hundred day moving average of $19.25. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 3.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.53, a current ratio of 5.80 and a quick ratio of 5.27. 3D Systems has a 52 week low of $9.17 and a 52 week high of $41.48.

3D Systems (NYSE:DDDGet Rating) last released its quarterly earnings results on Monday, May 9th. The 3D printing company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $133.00 million during the quarter, compared to analyst estimates of $132.67 million. 3D Systems had a negative return on equity of 0.56% and a net margin of 52.31%. 3D Systems’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS. Sell-side analysts forecast that 3D Systems will post -0.28 EPS for the current year.

In other news, Director Malissia Clinton sold 4,375 shares of the business’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $16.08, for a total value of $70,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jagtar Narula sold 5,863 shares of the business’s stock in a transaction on Monday, March 21st. The stock was sold at an average price of $16.13, for a total value of $94,570.19. The disclosure for this sale can be found here. Insiders have sold 19,838 shares of company stock valued at $328,804 in the last quarter. 3.45% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of DDD. Advisor Group Holdings Inc. grew its holdings in shares of 3D Systems by 1.1% in the third quarter. Advisor Group Holdings Inc. now owns 203,144 shares of the 3D printing company’s stock worth $5,602,000 after acquiring an additional 2,132 shares during the period. Swiss National Bank grew its holdings in shares of 3D Systems by 1.0% in the third quarter. Swiss National Bank now owns 276,250 shares of the 3D printing company’s stock worth $7,616,000 after acquiring an additional 2,600 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of 3D Systems by 0.9% in the third quarter. State Board of Administration of Florida Retirement System now owns 49,356 shares of the 3D printing company’s stock worth $1,361,000 after acquiring an additional 440 shares during the period. Jennison Associates LLC bought a new stake in shares of 3D Systems in the third quarter worth $1,360,000. Finally, CIBC Asset Management Inc grew its holdings in shares of 3D Systems by 4.8% in the third quarter. CIBC Asset Management Inc now owns 10,028 shares of the 3D printing company’s stock worth $276,000 after acquiring an additional 457 shares during the period. 69.13% of the stock is owned by institutional investors.

About 3D Systems (Get Rating)

3D Systems Corporation, through its subsidiaries, provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.

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