Analysts at investment research firm, Stifel Nicolaus initiate coverage on the shares of 3D Systems Corporation (NYSE:DDD). They recommended a Buy rating for the stock with a price target of $52.67 per share.
Stock rating from other analysts
Other investment research firms updated their stock rating for 3D Systems Corporation (NYSE:DDD). Analysts at Pacific Crest reiterated their Outperform rating for the stock, but reduced their price target to $56 per share.
Michael Mauboussin: Here’s what active managers can do
The debate over active versus passive management continues as trends show the ongoing shift from active into passive funds. Q2 2020 hedge fund letters, conferences and more At the Morningstar Investment Conference, Michael Mauboussin of Counterpoint Global argued that the rise of index funds has made it more difficult to be an active manager. Drawing Read More
On the other hand, Zacks Equity Research reaffirmed its Neutal rating for the shares of 3D Systems Corporation with $53 price target while analysts at RBC Capital downgraded their rating for the stock to Sector Perform with a $54 price target.
The consensus stock rating for 3D Systems Corporation (NYSE:DDD) is Hold and the average price target is $66.99 per share. The shares of the company are trading at $53.14 per share, slight down at the time of this writing around 3:07 in the afternoon in New York.
Over the past 52-week range, the shares of 3D Systems Corporation (NYSE:DDD) traded between $43.35 and $97.28 per share. Year-to-date, the stock price of the company declined more than 43%. 3D Systems has a market capitalization of approximately $5.8 billion and a P/E ratio of 125.
3D Systems acquires Symbionix
3D Systems Corporation (NYSE:DDD) recently acquired Symbionix, a leading 3D simulation and training company based in Cleveland, Ohio for $120 million. The acquisition would bring advanced technologies for patient-specific simulations solutions approved by the U.S. Food and Drug Administration (FDA).
The technologies of Symbionix complement the strength of 3D Systems in printing patient-specific instruments and devices, which would significantly support innovation in the healthcare industry.
The acquisition is expected to be accretive immediately to the bottom line and cash generation of 3D Systems Corporation (NYSE:DDD).
Yesterday, the company announced that it would showcase its latest 3D printing design-to-manufacturing solutions at the International Technology Manufacturing Shown of September 8-13 at the McCormick Place in Chicago.