Deerfield Management Company L.P. Series C Acquires New Shares in 3D Systems Co. (NYSE:DDD)

Deerfield Management Company L.P. Series C acquired a new position in 3D Systems Co. (NYSE:DDD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,127 shares of the 3D printing company’s stock, valued at approximately $77,000.

Several other hedge funds have also recently bought and sold shares of DDD. Inspire Investing LLC bought a new stake in shares of 3D Systems during the 2nd quarter worth about $35,000. Foundations Investment Advisors LLC bought a new stake in 3D Systems during the second quarter worth approximately $37,000. Mizuho Securities Co. Ltd. acquired a new position in 3D Systems during the second quarter valued at approximately $38,000. Impact Partnership Wealth LLC bought a new position in shares of 3D Systems in the second quarter valued at approximately $43,000. Finally, AE Wealth Management LLC acquired a new stake in shares of 3D Systems in the second quarter worth $47,000. 64.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Lake Street Capital lowered their target price on shares of 3D Systems from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Cantor Fitzgerald lowered their price target on 3D Systems from $5.50 to $3.75 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Needham & Company LLC reissued a “hold” rating on shares of 3D Systems in a research report on Friday, August 30th. StockNews.com lowered 3D Systems from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Finally, Loop Capital cut their price target on 3D Systems from $4.50 to $2.00 and set a “hold” rating for the company in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, 3D Systems currently has a consensus rating of “Hold” and an average price target of $3.25.

3D Systems Stock Performance

NYSE:DDD opened at $2.89 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.42 and a current ratio of 3.46. The firm’s 50-day moving average is $2.67 and its 200-day moving average is $3.37. 3D Systems Co. has a 52-week low of $1.72 and a 52-week high of $6.85. The company has a market cap of $386.02 million, a price-to-earnings ratio of -1.02 and a beta of 1.65.

3D Systems (NYSE:DDD) last issued its quarterly earnings results on Thursday, August 29th. The 3D printing company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.11). 3D Systems had a negative net margin of 78.14% and a negative return on equity of 15.29%. The firm had revenue of $113.25 million for the quarter, compared to the consensus estimate of $125.15 million. Equities research analysts anticipate that 3D Systems Co. will post -0.67 earnings per share for the current year.

3D Systems Company Profile

3D Systems Corporation provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company offers 3D printers technologies, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, polymer extrusion, 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.