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716400.0
|
2023-08-30 00:00:00 UTC
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3D Systems (DDD) Price Target Decreased by 10.87% to 8.36
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-price-target-decreased-by-10.87-to-8.36
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nan
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nan
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The average one-year price target for 3D Systems (NYSE:DDD) has been revised to 8.36 / share. This is an decrease of 10.87% from the prior estimate of 9.38 dated August 1, 2023.
The price target is an average of many targets provided by analysts. The latest targets range from a low of 6.06 to a high of 12.08 / share. The average price target represents an increase of 36.44% from the latest reported closing price of 6.13 / share.
What is the Fund Sentiment?
There are 447 funds or institutions reporting positions in 3D Systems. This is a decrease of 25 owner(s) or 5.30% in the last quarter. Average portfolio weight of all funds dedicated to DDD is 0.09%, a decrease of 8.76%. Total shares owned by institutions increased in the last three months by 2.69% to 107,628K shares.
The put/call ratio of DDD is 1.37, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 9,195K shares representing 6.89% ownership of the company. In it's prior filing, the firm reported owning 9,540K shares, representing a decrease of 3.74%. The firm decreased its portfolio allocation in DDD by 13.53% over the last quarter.
Invesco holds 6,296K shares representing 4.72% ownership of the company. In it's prior filing, the firm reported owning 5,420K shares, representing an increase of 13.91%. The firm increased its portfolio allocation in DDD by 992.42% over the last quarter.
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS) - Invesco Oppenheimer Global Opportunities Fund Class R5 holds 5,000K shares representing 3.75% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,852K shares representing 2.89% ownership of the company. No change in the last quarter.
ARK Investment Management holds 3,766K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 3,627K shares, representing an increase of 3.69%. The firm decreased its portfolio allocation in DDD by 7.35% over the last quarter.
3D Systems Background Information
(This description is provided by the company.)
More than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading Additive Manufacturing solutions partner, it brings innovation, performance, and reliability to every interaction - empowering its customers to create products and business models never before possible. Thanks to its unique offering of hardware, software, materials and services, each application-specific solution is powered by the expertise of its application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems' solutions address a variety of advanced applications in Healthcare and Industrial markets such as Medical and Dental, Aerospace & Defense, Automotive and Durable Goods.
Additional reading:
3D Systems Reports Second Quarter 2023 Financial Results
Second Quarter 202 3 Financial Results August 9 , 202 3 2 Welcome and Participants Dr. Jeffrey Graves President & Chief Executive Officer Michael Turner Executive Vice President & Chief Financial Officer Andrew Johnson Executive Vice President, Chief
Press Release dated July 27, 2023.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The average one-year price target for 3D Systems (NYSE:DDD) has been revised to 8.36 / share. Average portfolio weight of all funds dedicated to DDD is 0.09%, a decrease of 8.76%. The put/call ratio of DDD is 1.37, indicating a bearish outlook.
|
The average one-year price target for 3D Systems (NYSE:DDD) has been revised to 8.36 / share. Average portfolio weight of all funds dedicated to DDD is 0.09%, a decrease of 8.76%. The put/call ratio of DDD is 1.37, indicating a bearish outlook.
|
The average one-year price target for 3D Systems (NYSE:DDD) has been revised to 8.36 / share. Average portfolio weight of all funds dedicated to DDD is 0.09%, a decrease of 8.76%. The put/call ratio of DDD is 1.37, indicating a bearish outlook.
|
The firm decreased its portfolio allocation in DDD by 13.53% over the last quarter. The firm increased its portfolio allocation in DDD by 992.42% over the last quarter. The average one-year price target for 3D Systems (NYSE:DDD) has been revised to 8.36 / share.
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c2650e81-60a1-4da2-b68b-7be70e788685
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716401.0
|
2023-08-30 00:00:00 UTC
|
Down -27.71% in 4 Weeks, Here's Why You Should You Buy the Dip in 3D Systems (DDD)
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DDD
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https://www.nasdaq.com/articles/down-27.71-in-4-weeks-heres-why-you-should-you-buy-the-dip-in-3d-systems-ddd
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nan
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nan
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3D Systems (DDD) has been on a downward spiral lately with significant selling pressure. After declining 27.7% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.
How to Determine if a Stock is Oversold
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
Here's Why DDD Could Experience a Turnaround
The heavy selling of DDD shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 16.6. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.
The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for DDD has increased 1.9%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, DDD currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
3D Systems Corporation (DDD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
3D Systems (DDD) has been on a downward spiral lately with significant selling pressure. Here's Why DDD Could Experience a Turnaround The heavy selling of DDD shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 16.6. Over the last 30 days, the consensus EPS estimate for DDD has increased 1.9%.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems (DDD) has been on a downward spiral lately with significant selling pressure. Here's Why DDD Could Experience a Turnaround The heavy selling of DDD shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 16.6.
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Moreover, DDD currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. 3D Systems (DDD) has been on a downward spiral lately with significant selling pressure. Here's Why DDD Could Experience a Turnaround The heavy selling of DDD shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 16.6.
|
Here's Why DDD Could Experience a Turnaround The heavy selling of DDD shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 16.6. 3D Systems (DDD) has been on a downward spiral lately with significant selling pressure. Over the last 30 days, the consensus EPS estimate for DDD has increased 1.9%.
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4778d3a6-0817-4dfa-9cb7-3f58661689ff
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716402.0
|
2023-08-30 00:00:00 UTC
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Noteworthy Wednesday Option Activity: DDD, AVGO, NCNO
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DDD
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-ddd-avgo-ncno
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nan
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in 3D Systems Corp. (Symbol: DDD), where a total of 24,247 contracts have traded so far, representing approximately 2.4 million underlying shares. That amounts to about 126.2% of DDD's average daily trading volume over the past month of 1.9 million shares. Especially high volume was seen for the $7 strike call option expiring September 15, 2023, with 10,740 contracts trading so far today, representing approximately 1.1 million underlying shares of DDD. Below is a chart showing DDD's trailing twelve month trading history, with the $7 strike highlighted in orange:
Broadcom Inc (Symbol: AVGO) saw options trading volume of 24,799 contracts, representing approximately 2.5 million underlying shares or approximately 122.4% of AVGO's average daily trading volume over the past month, of 2.0 million shares. Particularly high volume was seen for the $900 strike call option expiring September 08, 2023, with 2,180 contracts trading so far today, representing approximately 218,000 underlying shares of AVGO. Below is a chart showing AVGO's trailing twelve month trading history, with the $900 strike highlighted in orange:
And nCino Inc (Symbol: NCNO) saw options trading volume of 4,665 contracts, representing approximately 466,500 underlying shares or approximately 118.9% of NCNO's average daily trading volume over the past month, of 392,270 shares. Particularly high volume was seen for the $35 strike call option expiring December 15, 2023, with 1,089 contracts trading so far today, representing approximately 108,900 underlying shares of NCNO. Below is a chart showing NCNO's trailing twelve month trading history, with the $35 strike highlighted in orange:
For the various different available expirations for DDD options, AVGO options, or NCNO options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Defense Dividend Stocks
MN shares outstanding history
FXB Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Especially high volume was seen for the $7 strike call option expiring September 15, 2023, with 10,740 contracts trading so far today, representing approximately 1.1 million underlying shares of DDD. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in 3D Systems Corp. (Symbol: DDD), where a total of 24,247 contracts have traded so far, representing approximately 2.4 million underlying shares. That amounts to about 126.2% of DDD's average daily trading volume over the past month of 1.9 million shares.
|
Especially high volume was seen for the $7 strike call option expiring September 15, 2023, with 10,740 contracts trading so far today, representing approximately 1.1 million underlying shares of DDD. Below is a chart showing DDD's trailing twelve month trading history, with the $7 strike highlighted in orange: Broadcom Inc (Symbol: AVGO) saw options trading volume of 24,799 contracts, representing approximately 2.5 million underlying shares or approximately 122.4% of AVGO's average daily trading volume over the past month, of 2.0 million shares. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in 3D Systems Corp. (Symbol: DDD), where a total of 24,247 contracts have traded so far, representing approximately 2.4 million underlying shares.
|
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in 3D Systems Corp. (Symbol: DDD), where a total of 24,247 contracts have traded so far, representing approximately 2.4 million underlying shares. Below is a chart showing DDD's trailing twelve month trading history, with the $7 strike highlighted in orange: Broadcom Inc (Symbol: AVGO) saw options trading volume of 24,799 contracts, representing approximately 2.5 million underlying shares or approximately 122.4% of AVGO's average daily trading volume over the past month, of 2.0 million shares. That amounts to about 126.2% of DDD's average daily trading volume over the past month of 1.9 million shares.
|
Especially high volume was seen for the $7 strike call option expiring September 15, 2023, with 10,740 contracts trading so far today, representing approximately 1.1 million underlying shares of DDD. Below is a chart showing DDD's trailing twelve month trading history, with the $7 strike highlighted in orange: Broadcom Inc (Symbol: AVGO) saw options trading volume of 24,799 contracts, representing approximately 2.5 million underlying shares or approximately 122.4% of AVGO's average daily trading volume over the past month, of 2.0 million shares. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in 3D Systems Corp. (Symbol: DDD), where a total of 24,247 contracts have traded so far, representing approximately 2.4 million underlying shares.
|
62172d11-9b33-46e3-984e-4d66fda6e264
|
716403.0
|
2023-08-29 00:00:00 UTC
|
Down -29.51% in 4 Weeks, Here's Why 3D Systems (DDD) Looks Ripe for a Turnaround
|
DDD
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https://www.nasdaq.com/articles/down-29.51-in-4-weeks-heres-why-3d-systems-ddd-looks-ripe-for-a-turnaround
|
nan
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nan
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3D Systems (DDD) has been beaten down lately with too much selling pressure. While the stock has lost 29.5% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.
How to Determine if a Stock is Oversold
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
Here's Why DDD Could Experience a Turnaround
The RSI reading of 15.44 for DDD is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.
The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for DDD has increased 1.9%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, DDD currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
3D Systems Corporation (DDD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
3D Systems (DDD) has been beaten down lately with too much selling pressure. Here's Why DDD Could Experience a Turnaround The RSI reading of 15.44 for DDD is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand. Over the last 30 days, the consensus EPS estimate for DDD has increased 1.9%.
|
Moreover, DDD currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems (DDD) has been beaten down lately with too much selling pressure.
|
Here's Why DDD Could Experience a Turnaround The RSI reading of 15.44 for DDD is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand. 3D Systems (DDD) has been beaten down lately with too much selling pressure. Over the last 30 days, the consensus EPS estimate for DDD has increased 1.9%.
|
Moreover, DDD currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. 3D Systems (DDD) has been beaten down lately with too much selling pressure. Here's Why DDD Could Experience a Turnaround The RSI reading of 15.44 for DDD is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.
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0224d7d1-326e-4df9-8a2d-9e087e8cd38d
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716404.0
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2023-08-11 00:00:00 UTC
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Credit Suisse Maintains 3D Systems (DDD) Underperform Recommendation
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DDD
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https://www.nasdaq.com/articles/credit-suisse-maintains-3d-systems-ddd-underperform-recommendation
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nan
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nan
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Fintel reports that on August 10, 2023, Credit Suisse maintained coverage of 3D Systems (NYSE:DDD) with a Underperform recommendation.
Analyst Price Forecast Suggests 31.98% Upside
As of August 2, 2023, the average one-year price target for 3D Systems is 9.38. The forecasts range from a low of 7.07 to a high of $12.60. The average price target represents an increase of 31.98% from its latest reported closing price of 7.11.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for 3D Systems is 569MM, an increase of 10.67%. The projected annual non-GAAP EPS is -0.15.
What is the Fund Sentiment?
There are 461 funds or institutions reporting positions in 3D Systems. This is a decrease of 13 owner(s) or 2.74% in the last quarter. Average portfolio weight of all funds dedicated to DDD is 0.09%, a decrease of 47.59%. Total shares owned by institutions increased in the last three months by 1.19% to 106,012K shares.
The put/call ratio of DDD is 1.14, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 9,540K shares representing 7.15% ownership of the company. In it's prior filing, the firm reported owning 9,728K shares, representing a decrease of 1.97%. The firm increased its portfolio allocation in DDD by 38.03% over the last quarter.
Invesco holds 5,420K shares representing 4.06% ownership of the company. In it's prior filing, the firm reported owning 5,390K shares, representing an increase of 0.55%. The firm increased its portfolio allocation in DDD by 38.73% over the last quarter.
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS) - Invesco Oppenheimer Global Opportunities Fund Class R5 holds 5,000K shares representing 3.75% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,852K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 3,733K shares, representing an increase of 3.09%. The firm increased its portfolio allocation in DDD by 38.04% over the last quarter.
ARK Investment Management holds 3,766K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 3,627K shares, representing an increase of 3.69%. The firm decreased its portfolio allocation in DDD by 7.35% over the last quarter.
3D Systems Background Information
(This description is provided by the company.)
More than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading Additive Manufacturing solutions partner, it brings innovation, performance, and reliability to every interaction - empowering its customers to create products and business models never before possible. Thanks to its unique offering of hardware, software, materials and services, each application-specific solution is powered by the expertise of its application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems' solutions address a variety of advanced applications in Healthcare and Industrial markets such as Medical and Dental, Aerospace & Defense, Automotive and Durable Goods.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Fintel reports that on August 10, 2023, Credit Suisse maintained coverage of 3D Systems (NYSE:DDD) with a Underperform recommendation. Average portfolio weight of all funds dedicated to DDD is 0.09%, a decrease of 47.59%. The put/call ratio of DDD is 1.14, indicating a bearish outlook.
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Fintel reports that on August 10, 2023, Credit Suisse maintained coverage of 3D Systems (NYSE:DDD) with a Underperform recommendation. Average portfolio weight of all funds dedicated to DDD is 0.09%, a decrease of 47.59%. The put/call ratio of DDD is 1.14, indicating a bearish outlook.
|
Fintel reports that on August 10, 2023, Credit Suisse maintained coverage of 3D Systems (NYSE:DDD) with a Underperform recommendation. Average portfolio weight of all funds dedicated to DDD is 0.09%, a decrease of 47.59%. The put/call ratio of DDD is 1.14, indicating a bearish outlook.
|
Fintel reports that on August 10, 2023, Credit Suisse maintained coverage of 3D Systems (NYSE:DDD) with a Underperform recommendation. Average portfolio weight of all funds dedicated to DDD is 0.09%, a decrease of 47.59%. The put/call ratio of DDD is 1.14, indicating a bearish outlook.
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d936ffe0-b511-4385-928d-308eb22619c8
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716405.0
|
2023-08-09 00:00:00 UTC
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3D Systems Corp. Becomes Oversold (DDD)
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DDD
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https://www.nasdaq.com/articles/3d-systems-corp.-becomes-oversold-ddd
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nan
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nan
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Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Wednesday, shares of 3D Systems Corp. (Symbol: DDD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $7.26 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 50.6. A bullish investor could look at DDD's 29.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDD shares:
Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.01 as the 52 week high point — that compares with a last trade of $7.39.
Find out what 9 other oversold stocks you need to know about »
Also see:
VAXX Stock Predictions
WHX Historical Stock Prices
CE shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
In trading on Wednesday, shares of 3D Systems Corp. (Symbol: DDD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $7.26 per share. A bullish investor could look at DDD's 29.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDD shares: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.01 as the 52 week high point — that compares with a last trade of $7.39.
|
In trading on Wednesday, shares of 3D Systems Corp. (Symbol: DDD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $7.26 per share. A bullish investor could look at DDD's 29.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDD shares: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.01 as the 52 week high point — that compares with a last trade of $7.39.
|
In trading on Wednesday, shares of 3D Systems Corp. (Symbol: DDD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $7.26 per share. The chart below shows the one year performance of DDD shares: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.01 as the 52 week high point — that compares with a last trade of $7.39. A bullish investor could look at DDD's 29.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
|
In trading on Wednesday, shares of 3D Systems Corp. (Symbol: DDD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $7.26 per share. A bullish investor could look at DDD's 29.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDD shares: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.01 as the 52 week high point — that compares with a last trade of $7.39.
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2cfeec18-6033-4477-8b54-83020a37cc9c
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716406.0
|
2023-08-09 00:00:00 UTC
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3d Systems (DDD) Q2 2023 Earnings Call Transcript
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-q2-2023-earnings-call-transcript
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nan
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nan
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Image source: The Motley Fool.
3d Systems (NYSE: DDD)
Q2 2023 Earnings Call
Aug 09, 2023, 8:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Hello, and welcome to the 3D Systems Q2 2023 conference call and webcast. [Operator instructions] A question-and-answer session will follow the formal presentation. [Operator instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to your host, Mick McCloskey, vice president, treasurer, and investor relations.
Please go ahead, Mick.
Mick McCloskey -- Vice President, Investor Relations
Good morning, and welcome to 3D Systems second quarter 2023 conference call. With me on today's call are Dr. Jeffrey Graves, president and chief executive officer; Michael Turner, executive vice president and chief financial officer; and Andrew Johnson, executive vice president, chief corporate development officer, and chief legal officer. The webcast portion of this call contains a slide presentation that we will refer to during the call.
Those following along on the phone who wish to access the slide portion of this presentation may do so on the investor relations section of our website. The following discussion and responses to your questions reflect management's views as of today only and will include forward-looking statements as described on this slide. Actual results may differ materially. Additional information about factors that could potentially impact our financial results is included in this morning's press release and our filings with the SEC, including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q.
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During this call, we will discuss certain non-GAAP financial measures in our press release and slides accompanying this webcast. You will find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP measures. Finally, unless otherwise stated, all comparisons in this call will be against our results for the comparable period of 2022. With that, I'll turn the call over to our CEO, Jeff Graves, for opening remarks.
Jeff Graves -- President and Chief Executive Officer
Thanks, Mick, and good morning, everyone. Thanks for joining us today. And to reinforce what Mick said, I would refer you to the charts that are up on the web. There are a couple on there that I think you'll find really interesting, and I'll comment on as we get through them.
Let me begin on Slide 6. Let me start this morning by taking a step back and talking about what's happening in our industry right now. And after that, I'll provide an update on our engagement with Stratasys and then provide some comments on our second quarter performance and wrap up with our view on the business for the remainder of the year before handing the call over to our CFO, Michael Turner. We're going to cover a lot in today's call, but I want to start by saying that there are three clear takeaways that I want to leave you with today.
First, quarterly results across the industry clearly affirmed the critical need for scale. Now why is this topic suddenly on everyone's lips? Because for the first time in our history, customers are interested in moving 3D printing out of the lab and into real factory production environments. For a supplier to be successful with these customers, they must have a global presence, compelling technologies, and an economic model that allows both the customer and the supplier to generate the profits needed to sustain investment and create value for all of their stakeholders. As one of the largest pure play additive companies in the world, 3D Systems clearly has a stand-alone path to attain increased scale through organic growth.
However, our proposed combination with Stratasys, which we have actively pursued on a friendly basis for over two years, accelerates attainment of this goal, benefiting our customers and our shareholders on a faster timetable. That's why we've relentlessly stuck with this discussion for so long. The second main takeaway is that unlike many in our industry, 3D systems continue to deliver organic growth, not simply through acquisition. While our orthodontics business continues to overshadow other market trends.
Outside of this segment, we've grown revenues organically by roughly 2% during the first half of the year and our guidance implies high single digits and low double-digit growth for the full year. While these results don't reflect our full potential, they do affirm our long-term growth strategy with our markets becoming better balanced over time. Third, we're fully committed to our high potential regenerative medicine platform. We have a multi-pronged strategy that's delivering remarkable results that strongly reinforce our confidence in the realization of significant value for this new market.
Unlocking this value requires sustained investment, but we're confident it's the right decision for our shareholders as this will be increasingly clear going forward and I'll have more comments to follow later in the presentation. So those are the three main points. Now let me elaborate on them. As I reflect on how the first few months have progressed, one central theme has emerged, scale matters.
It may be the one thing that all companies in our industry can agree upon right now. While it's important to remember that this is an industry defined by innovation and growth, we're going through a profound change in the nature of our customer, and I put that customer in quotes. There are explosive multi-year growth opportunities across many, many markets, but to access them requires that we meet the need of factory managers. Not lab managers are design engineers.
That's where the growth is at. Factory managers put a premium on not only the precision of the printer, but also the economics of its operation in the complete factory workflow, not just the printing process. The reliability and reproducibility of the operations and the ability of a supplier to service the product over its decades-long life. These are completely different requirements to those of a lab manager or design engineers who were our primary customers until recently.
In addition, most large customers have multiple factories scattered throughout many parts of the world. They want to insert 3D printing where it's most valuable and not worry about the depth of local technical support or the unique training of operators. These are new requirements for most companies in our industry and meeting them take scale, scale that brings a global sales and service footprint, ever improving operational efficiencies, and importantly, a broad range of printing technologies to support the full range of application needs. For the largest of us in the industry, we're able to do this for select market verticals today, which in our case is well demonstrated in the dental orthodontics market where we've grown to support multiple large-scale fleets of printers in factories on three continents.
Our fleets of printers produce more components in a day than the rest of the industry combined. In 2021 and early 2022, this exposure helped us disproportionately as everyone in the world seemed to want straight to straighten their teeth and inflation had not yet impacted their spending. Then over the last year, inflation effects on discretionary consumer spending has taken a dramatic toll on in demand for orthodontics, and we as a key supplier, felt this impact acutely. Fortunately, the bottom seems to be now in sight for this market, which will bring us relief.
But the longer-term answer is to diversify our market exposure as we're working hard to do. To replicate our orthodontic success in other markets, I reorganized the company by market vertical when I arrived in 2020. For our two business units, healthcare and industrial, we now target specific high value market verticals, picking a lead customer to work with intimately on their applications in each. These applications often span both polymer and metal printing technologies, which is why we've aggressively invested to sustain our broad portfolio of hardware, which is the broadest in the industry today.
Others are now working to emulate this approach. Our customer success is demonstrated within a market then we work to scale the optimum processes for their applications and move them into their factories for mass production. This approach is what's driving our positive organic growth in markets outside of orthodontics. Just as we are strong in orthodontics, others in the industry may be strong in other individual market verticals or with specific narrow technology offerings.
However, no one is yet positioned to access multiple market opportunities that are now rapidly emerging in front of us, and they're very exciting to say the least. To be very clear, I would not trade our strengths and opportunities at 3D Systems for anyone else's. The faster any of us can attain scale, the more quickly value can be created for our customers and our shareholders alike. At 3D Systems, we see two paths to realize our mission to achieve scale.
Right now, there's an immediate path through a combination of Stratasys. Second is through the execution of our stand-alone plan, which is built around securing new customer contracts and high value market verticals such as aerospace and defense, semiconductors, electronics, med devices, and others, commercializing our regenerative medicine business, a return to growth in orthodontics, of course, and the emergence of new significant dental applications. To be very clear, both paths are very sound, highly executable, and will create significant value over time. Because the decision point is right in front of us now, I want to again highlight why we feel strongly about our proposed combination with Stratasys and why we spent so much time and effort pursuing this combination over the last two years.
This combination presents unmatched value creation for potential for all stakeholders in the additive manufacturing industry, creating a leader in the industry with exceptional financial profile that will provide three critical elements to all stakeholders, sustainable profitability, innovation, and value creation. Importantly, as we mentioned two weeks ago, we now feel the total value delivered from highly accretive cost synergies is at least $110 million given redundant investments in R&D, SG&A in addition to COGS efficiencies, all of which we feel can be realized within 18 months of closing, delivering even more value to shareholders than we had originally anticipated. Now only briefly comment on the ongoing discussions between our two companies. After some delay, Stratasys has progressed to an exhaustive diligence process in order to compare the two combination options before them, ourselves and desktop metal.
They've clearly stated they need scale and technology diversity to be successful, and I believe our deal brings this in an overwhelmingly compelling manner. I'm happy to say that our teams are now rapidly bringing the diligence effort to a close. It's no secret that I had hoped to move faster and at times it's been very frustrating given that we're both public companies and the benefits of our specific combination are so very clear. It's been reinforced by the feedback we've received since submitting our proposal from shareholders of both companies who have been crystal clear that they share their view of the tremendous value creation in this deal.
While we had hoped to be in a position to announce a deal with Stratasys today, we're not in a position to do so. However, with the end of the process in sight, we will see it through to its ultimate conclusion. The bottom line is that we're going to do what's right for shareholders, and I'm not going to let near-term noise distract us from the end goal, particularly when success will create so very much short term and long-term value for all stakeholders. Now moving on, I'll turn to Slide 7.
I'd like to move on to what's become an ever more exciting driver of our long-term growth plan regenerative medicine. As we've mentioned previously, we're investing heavily in our regenerative medicine business because we truly believe in its transformational potential. The ability to manufacture human organs and other parts of the human body as well as reproduce human physiology in the lab to speed the development of new drug therapies will enable life changing health outcomes for people in need around the world while creating significant value for our shareholders. Our innovation engine continues to make great progress in all three facets of this new business.
For organs, our initial focus has been on 3D printed lungs, the most complex product ever 3D printed through our partnership with United Therapeutics. Since 2017, we've continued to execute on an aggressive 10-year plan. And with the progress that we've made, we're on the precipice of some huge milestones in the years ahead. As a reminder, we've set a goal for human trials in 2026, and I've already accomplished much of the heavy lifting related to development.
We believe we're tracking well toward this path, which only a short time ago would have seemed like a pipe dream. To put the opportunity in context a bit, in 2021, there were 25,069 lung transplants completed worldwide according to the US Department of Health and Human Services. At the same time, 3,111 patients were added to the waiting list in the United States alone. A fraction of those that could benefit from this procedure if an adequate supply were available.
The number of patients formally added to the lung transplant waiting list has grown almost 28% compared to the last decade that began in 2010. You can understand our enthusiasm for this opportunity when you put that unmet need against our clear path to commercialization. Moving on to drug development and our opportunities with systemic bio, I'd refer you to Slide 8, and if you could take a moment to get there, some of the concepts here are just amazing. h-VIOS, our proprietary organ on a chip platform is a novel application which allows pharmaceutical companies to test their drugs on a cellular sized chip that mimics the response in human organs during trials.
While others have attempted to commercialize the organ on a chip concept, driven by the clear benefits in drug development, our technology is unique. Leveraging our breakthrough in the printing of vascularized tissue using our print to perfusion technology developed for human organs, Systemic Bio has now demonstrated the four core technology advancements needed for success as shown on this slide. These elements just working left to right include, first, the creation of very precise computer models for vascular tissue within the vascular network can sustain life in the human cells that will surround them. Next, converting this model into a three-dimensional scaffold at the precision needed for the intended tissue structure and then cellular rising the scaffold in order to convert it into living human tissue with the desired healthy or diseased cells.
And then demonstrating, as you'll see in the far-right hand photograph, that this entire three-dimensional tissue structure supplied with blood and nutrients can sustain that cell life for an extended period of time measured in days and weeks, not minutes. That photograph on the right is a profound breakthrough. It demonstrates the sustainability of life in the laboratory where it can then be studied on a reproducible basis by new drugs. We believe this will help accelerate the pharmaceutical industry tremendously over time.
With the team and facilities established under the leadership of Ms. Taci Pereira, we designed our first -- we signed our first contract with a major pharmaceutical company last quarter. This study, which will span several quarters is the first demonstration of the technology to our pharma customer. We expect another contract award with a second major pharma company later this year, and we have five additional programs with other major pharma companies in our pipeline.
While it takes time to establish a new technology with these companies, once done, the growth opportunities are significant, and there's an enormous number of variations that technology can be pursued. Also, of note earlier this year, this is very important. The FDA announced that animal testing of new therapeutics is no longer a requirement in order to move into human trials. This provides an additive incentive to introduce new, more effective testing methods for new drug therapies.
From a value creation standpoint, it's fairly well known that bringing a new drug to market is an enormous cost with one estimate putting it at $2.3 billion per drug. However, what's more eye opening for us is the market that the average return on investment for a new drug is just 1.2%. We believe that our h-VIOS product can significantly reduce both the time and cost for our pharmaceutical partners. We're just in the first inning here with our partners in this space, but much like with our organ business, we see an incredible pairing of technological breakthrough coupled with incredible demand.
And finally, earlier this week we announced a new partnership with Theadaptive, a protein engineering company. Their product, the OsteoAdapt, is used primarily for orthopedic regeneration or very simply put regrowing damaged bone. As shown on Slide 10, through the merits of our technologies, we will combine the Theradaptive protein material with our 3D printed custom orthopedic implants to yield highly targeted bone regeneration. Initial applications will be for spinal and cranial maxillofacial repair.
The market we know well given our extensive history. We believe the value added through these targeted protein treatments can be significant. In terms of technology maturity, Theradaptive has already earned three breakthrough medical device designations from the FDA with human trials targeted for later this year. They estimate that this product alone could address a roughly $4 billion annual market now moving to more on the core 3D Systems business and our results through the first half of the year on Slide 11.
While we're encouraged to see sequential revenue growth from the prior quarter, and we call out that our non-dental business has grown over 3% year to date, we also acknowledge what we delivered was below our expectations. To add more color on the second quarter performance, it's important to discuss them in two distinct sections as we did on our first call, our dental orthodontics market and our non-dental markets. As many of you may be familiar with the dental orthodontics market and specifically one customer represents a material portion of our overall business. And as we constantly message, this market went through a period of significant growth in '21 and '22 after broad economic pressure began impact consumer spending more recently, the businesses started into a rapid decline.
The pain was compounded by the inventory builds that were completed over the COVID period when the supply chain disruption was a major concern for all companies. This led to a decline in revenue for our business by over $50 million over the last four quarters. While we're encouraged by the recent public data that points to suggest that orthodontic markets may have started to stabilize, it's important to note that customer inventory levels still remain somewhat elevated. We'd expect a slight lag between demand recovery and subsequent impact to our business.
Given these factors in Q2, we again faced a tough comparison the prior year and the decline in dental was the primary driver behind the consolidated company's performance. With that said, the dental business continues to be directionally consistent with what we expected at the beginning of the year. We continue to expect our dental business to be down approximately 35% for the full year 2023. Looking to the second half of this year, we expect that our comparisons to the prior year will become more favorable.
Turning to our non-dental markets, as the second quarter progressed, we witnessed opportunities within both our industrial and healthcare segments get pushed into future periods. This led to unexpected weakness for the quarter in our non-dental revenues. Fortunately, a significant portion of these opportunities were booked in July, but the point remains as bullish as we are regarding the long-term demand drivers. The near-term environment this year is more uncertain.
Customers are continuously reevaluating their capital expenditures in light of rising interest rates, tightening budgets, and a more cautious macroeconomic outlook. And as such, sales cycles in some verticals seem to be elongating. Putting aside those dynamics for a moment, we were encouraged to see growth in some of our underlying verticals that we view as vital to our long-term strategy. Notably in the personalized health solutions portion of our healthcare segment, we delivered another strong quarter of double-digit growth.
Well, this is only a portion of our non-healthcare segment. It's a critical driver to our future performance and one that we believe we're advantageously positioned relative to our competition. Given our broad range of printing technologies and materials base spans both metals and polymers and multiple 510k approvals from the FDA, we continue to make great strides in medical applications for the human body. And has just put our advantageous position into context, a typical product design time in this application can span years only then to go through an average six months to achieve FDA approval.
Moving on to our industrial segment, pressure within verticals such as service bureaus and energy were nearly offset by growth in other verticals such as foundries, aerospace and defense, consumer and durable goods, and semiconductors. Within industrials, we're proud that our unique Titan extrusion printing platform continues to gain traction evidenced by our recent announcement of our EXT 1070 being selected by Matrix Moon, an additive manufacturing focused training center and 3D systems reseller in India and our collaboration with SWANY, an additive manufacturing service provider in Japan, both fantastic examples of growing the presence of our Titan platform internationally since its acquisition earlier last year. Now to Slide 12 for an updated view on what we expect the remainder of 2023. Well, Michael will go into specific financials in more detail shortly. I would stress the importance of a few key points from this morning's prepared remarks.
Dental represents a material portion of our business and is home to our largest customer. We've acknowledged the headwinds in this business would face at the very beginning of the year and has continued to perform largely in line with our expectations. Our dental customers are starting to see signs of stabilization and we expect year over year comps to become more favorable in the second half of the year. While we still feel there's some level of inventory to be worked through in the short term, our position in orthodontics is very strong and will remain a cornerstone of our dental business for years to come.
In our non-dental business as I mentioned previously, we saw more conservative shift in customers capital expenditure appetite within the quarter. We expect this trend of elongated sales cycles to continue throughout the rest of the year, which has led us to adjust our full year expectations and now target high single digit to low double-digit percentage revenue growth for the full year outside of orthodontics. While this is prevalent in both non dental healthcare and industrial, it's not without the bright spots of continued growth that I discussed earlier. So with that, I'll turn things over to Michael.
Michael?
Michael Turner -- Executive Vice President, Chief Financial Officer
All right. Great. Thanks, Jeff, and good morning, everyone. Before I go into the normal details of the financial results, I'd like to circle back on three important points that Jeff has already made that will underscore most of my prepared remarks this morning.
First, on February the 28th of this year, we informed you that we expect our dental business to be down by approximately 35% for the year. We further commented that this would be more pronounced in the first half of the year due to the timing of order patterns in the first half of last year, followed by the subsequent decline in demand for dental orthodontics that unfolded in the back half of 2022. Our view on this has not changed, and the year over year declines that we've experienced in our dental markets during the first half of the year are very much in line with our original expectations. And our view for the full year decline of 35% remains unchanged as well.
The second point I'd like to make is what has changed is a shift in customer order patterns during the quarter, particularly impacting printer sales that resulted in orders being shifted out of Q2 and into Q3 due to elongated sales cycles as customers began to reevaluate their capital expenditures in light of rising interest rates, tightening budgets, and a more cautious macroeconomic outlook. We are conservatively expecting these elongated sales cycles to continue for the remainder of the year, resulting in a shift of sales demand that will adversely impact our view of full year 2023 sales attainment. Our circle back to this in more detail shortly. In the last segment comment, I'd like to make pertains to year-to-date sales growth excluding the softness and dental sales that we expected to occur in 2023.
And despite a shift in customer order patterns that occurred late in the second quarter, we're very encouraged by the growth we've generated in this difficult environment, particularly as we've seen a contraction in organic revenues for most of the companies in the space so far in 2023. With that important backdrop in place, I'll begin with a summary of revenue for the second quarter on Slide 14. Second quarter revenue of $128 million decreased 8.5% compared to the same period last year, primarily reflecting the expected weakness in our dental markets. Excluding our dental business, second quarter sales decreased by approximately 2% versus the prior year, driven by the shift in customer order patterns as previously discussed.
On a year-to-date basis, however, excluding our dental business, revenues have grown by more than 3%. Specific to our segments, second quarter healthcare solutions revenue decreased 15% to $61 million compared to the same period last year and was primarily driven by continued softness in our dental market, which was down 23% versus the same period last year and in line with our expectations. For the remainder of our healthcare solutions business, revenue declined by approximately 4% versus the same period last year due to the shift in customer order patterns already discussed. On a year-to-date basis, healthcare solutions revenue decreased approximately 20% to $110 million due to the expected softness in our dental market, which was down approximately 35% and in line with our expectations.
Our non-dental healthcare business was up roughly 7% due to continued strength in personalized healthcare solutions, which is up more than 15%, partially offset by decline in printer sales due to the shift in customer order patterns discussed earlier. Turning now to industrial solutions, second quarter revenues declined by approximately 1% to $67 million compared to the same period last year due primarily to lower printer sales related to a shift in customer order patterns. On a year-to-date basis, our industrial segment has grown by approximately 2% to 140 million due to strength in markets. Market segments such as transportation motorsports, foundries, academic research, and aerospace and defense.
We are particularly pleased by the continued momentum that we were able to capitalize on and some of these sectors of the market which are notoriously difficult to penetrate. Moving on to Slide 15 to talk about gross profit. Gross profit margins in the second quarter of 2023 were 39%, compared to 38% in the same period last year and were flat sequentially. This year over year increase is primarily due to favorable mix, pricing, and the benefits of our cost optimization exercises to enforce more manufacturing production.
Moving now to Slide 16. Adjusted EBITDA decreased by $4 million. A negative $7 million in the second quarter compared to the same period last year. The decrease in adjusted EBITDA was primarily driven by lower dental sales volumes and spending in regenerative medicine, which we remain committed to for all the reasons that Jeff discussed earlier.
The decline is due to lower sales volumes in our dental orthodontics market, slightly offset by lower operating expenses and gross margin expansion, primarily due to the benefits of our cost optimization exercises to enforce more manufacturing production. Net loss of $29 million resulted in a diluted loss per share of $0.22 and a diluted non-GAAP loss per share of $0.07. This year over year decline in EPS reflects all the factors that we have previously discussed. Now turning to Slide 17 for an update on our balance sheet.
We ended the quarter with approximately $492 million in cash and short-term investments on hand. The decrease in cash throughout the first half of the year is due to the normal seasonal use of cash from operations of $46 million, capital expenditures of $14 million, and acquisition and other investments of $16 million. Turning now to Slide 18. For the full year 2023, we are providing the following guidance.
Revenues of 525 to $545 million, non-GAAP gross margins of 40% to 42%, and we expect to generate positive EBITDA during the fourth quarter this year, noting that we maintain the expectation to invest 10 to $12 million associated with our regenerative medicine in the current year. This updated guidance reflects the assumption that the elongated cell cycles that we experienced during Q2 will remain in place throughout the balance of the year. This range of revenue guidance results in growth rates of approximately 7% to 12%, excluding the anticipated 35% decline in our dental orthodontics markets. While this isn't what we had hoped for when entering the year, we're encouraged by the growth we expect to generate in this difficult environment, particularly as we've seen organic revenues for most of the companies in this space contract year over year.
Before opening up the line for Q&A, I'd like to reiterate a few key points from our remarks this morning. First, excluding the expected decline in our dental orthodontics market and despite the shift in customer order patterns we experienced during Q2, we've generated year to date revenue growth of approximately 2% on a purely organic basis, which is encouraging to us given the contraction in organic revenue that we've seen for many other peers in the space so far this year. We are now expecting growth rates of approximately 7% to 12% for the full year, excluding the anticipated 35% decline in dental revenues that we've got into all along. Lastly, I want to underscore our firm belief that many of the challenges that we've experienced this year would be solved by achieving scale in the industry.
And while we have plenty of confidence in our ability to accomplish this on a stand-alone basis, a combination with Stratasys would provide for immediate acceleration of scale attainment, which would allow for the combined companies to immediately begin delivering on three critically important elements to all stakeholders' sustainable profitability, sustainable innovation, and value creation. With that, we'll now open the line for questions. Operator?
Questions & Answers:
Operator
[Operator instructions] Our first question is coming from Troy Jensen from Lake Street Capital Markets. Your line is now live.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Hey, gentlemen. Good morning. Thanks for taking my question.
Jeff Graves -- President and Chief Executive Officer
Hey, Troy. Good morning.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Hey, good morning, Jeff. So first of all, I guess the weakness in dental that's been well communicated and kind of in line with expectations. I guess my question would be, just positioning the account going forward, has there been any change in share with this big customer?
Jeff Graves -- President and Chief Executive Officer
No, not a bit as far as we know, Troy. It's literally they want a hard ramp during the COVID period when everybody was worried about getting materials and parts, and everybody wanted straight teeth at the time and interest rates were low, so people had the money to spend. So, it's been a confluence of both a drop in demand and burning off inventory. So, it's -- directionally, it's just what we expected this year, but there's no other effects going on that we're aware of at all.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Got you. All right. Jeff, and for you too, remind me, I thought entering the year, didn't you think Industrial is going to grow about 15%?
Jeff Graves -- President and Chief Executive Officer
Yes, we did, Troy. And that's -- so, yes, the only unexpected this point in the quarter really were, late in the quarter, we saw a push out of POs for some of our high ASP products. And again, it's -- my impression was and is today, it's not share loss, because most of those POs were landed in July, in early July, most of them came through. I think customers are just slow rolling capital spending still.
Interest rates are high. The economy is still a bit uncertain. People are managing cash. So, directionally, it's where we expected.
It's just a little bit of slow rolling of some of the larger POs. And, Troy, until it's proven otherwise, we're just assuming that continues now throughout the year. I don't want to give my hopes up that, hey, that's going to miraculously change. I hope it does, but we're just assuming right now just kind of cascades through the year as it did in Q2.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Sure. All right. So right now, you think Industrial is high single to the low double digit growth this year?
Jeff Graves -- President and Chief Executive Officer
Yes. It'll still grow organically and pretty nicely, but not where we had hoped at the beginning of the year. And again, I think those POs will eventually flow through and we'll see that recovery or rebound in the growth rate. But this year, that's what we expect, pretty healthy organic growth, not quite what we expect at the beginning of the year.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Great. OK. And then quick one from Michael. And not that I'm asking guidance here at all, but just, directionally on gross margins, I know you guys are doing a lot on cost cuts and there's just a lot of mixed shifts going forward.
And just hypothetically, if you guys did like $600 million in revenue next year, what would gross margins look like for you guys?
Michael Turner -- Executive Vice President, Chief Financial Officer
Yes, we -- so, Troy, that's a great question. We expect continued margin expansion, right? We're starting to get the full impacts of the cost optimizations that we did last year to in-source manufacturing and as well as the cost outs we executed in -- within the quarter. Additionally, we've announced the in-sourcing of metal production into our Riom, France facility that we're working hard to execute on this year. So, we would expect margins to continue to increase.
I mean, I think kind of in that 42% to 43%, maybe even as high as 44% for next year.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Perfect. Awesome. Well, guys, good luck going forward. You got my full support on this, the merger stuff.
So good luck.
Michael Turner -- Executive Vice President, Chief Financial Officer
Thanks, Troy.
Jeff Graves -- President and Chief Executive Officer
Thank you, Troy.
Operator
Thank you. Next question is coming from Greg Palm from Craig-Hallum. Your line is now live.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Thanks, guys. This is Danny Eggerichs on for Greg today.
Michael Turner -- Executive Vice President, Chief Financial Officer
Good morning, Danny.
Jeff Graves -- President and Chief Executive Officer
Good morning, Danny.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Hey, guys. I was hoping to kind of touch on the dental as well. I know previously you had kind of said destocking would kind of start to abate mid-year. And as we look at, we're now kind of middle-August, as you look back on that, how has that progressed relative to your expectations? I know you kind of said overall it's in line.
And then on top of that, how has maybe demand at the end consumer shifted to kind of that mix there?
Jeff Graves -- President and Chief Executive Officer
Well, there's been some clear communicating from the leader in that industry about in-demand and how that's evolved. I think when inflation first spiked, demand really went through the floor. What has been said publicly now by them is that they basically, to paraphrase, look at their market terms of adults and kids, the kids segment seems to be back and the adult segment is lagging, which is consistent with consumer discretionary spending. Adults are dragging their feet now on getting their teeth straightened.
I do think that situation is all stabilized now. So it's great to see the kids segment back. The adult segment, undoubtedly, will follow, because people still have a fundamental desire for that and especially as global as that business is now. So the in-demand profile we think is kind of bottoming and should be starting to recover.
The lag for us is that they did build inventory in the supply chain coming out of COVID, because everybody again was worried about just having enough raw material or machines, components, whatever your business was, everybody was worried about that. So everybody stocked up on inventory and they were no exception. So, now it's just a matter of burning down the inventory. So, it's a balance between in-demand going up, inventory is being burned off, we estimated that would take 35% out of that revenue for us this year.
And it directionally is tracking that way. We're not changing our overall yearly estimates of that. So I hope sometime we'll be surprised with demand bouncing back, but people have to remember there is a lag between that in-demand going up and the demand signal flowing through to us. So fundamentally nothing's changed and we're pleased to see the market seem to be bottoming now.
And once the inventories are at reasonable levels again, I think you'll see a nice upturn.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Yes. Got it. Maybe one on the guidance, maybe specifically the EBITDA side. Positive EBITDA for the year would imply still a pretty good improvement in the second half year.
So I guess what's your confidence level with what you've done on the cost side so far? And maybe assuming more of a stagnant environment, is there any additional levers you'd have to pull to get that, or do you think that's way down on that cost side makes you confident?
Michael Turner -- Executive Vice President, Chief Financial Officer
Yes. So, Danny, just to be crystal clear, we expect positive EBITDA in Q4, not necessarily the full year, right? And while we don't give quarterly guidance, right, we would expect Q3 to kind of be slightly negative to roughly breakeven and then you can kind of do the math from there.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Yes. OK.
Michael Turner -- Executive Vice President, Chief Financial Officer
And then, on the cost programs, I mean, we're seeing good solid traction there. I mean, actually we got a little more cost out within the quarter than we've previously anticipated and we continue to aggressively manage and control costs as necessary. Obviously, we want to not cut too deep, we want to preserve for the future. But we are taking appropriate actions there and seeing good solid traction.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
All right. Got it. I'll leave it there. Thanks.
Michael Turner -- Executive Vice President, Chief Financial Officer
All right. Thanks, Danny.
Operator
Thank you. Next question is coming from Shannon Cross from Credit Suisse. Your line is now live.
Shannon Cross -- Credit Suisse -- Analyst
Thank you very much. I was wondering if you sort of take a higher level approach to the bioprinting business. And given I think you're seeing some significant -- I don't know, improvement in -- or at least, results that in terms of the trials and everything you're doing, does it make sense at some point to literally run this as a separate business? Maybe -- I know you have United Therapeutics. I mean, does -- is this -- I guess I'm just trying to figure out, is this something that gets sold eventually? It gets IPOed eventually? Because it does -- it's such a bright spot in terms of your business, at least in terms of the results that we've seen so far.
And again, it's just a different investor base with a much longer time horizon than maybe some of the ones that that look at 3D printing. I don't know, I'm just wondering how you're thinking about it as things are progressing.
Jeff Graves -- President and Chief Executive Officer
Shannon, it's an excellent question, because our traditional investor base is -- are largely industrial tech people, growth-oriented, industrial technology folks, generally, and that's what most of this industry speaks to. This business, as you take 3D printing now into printing human products, it is a different type of market. It's a biotech market. And it was the right thing to kind of incubate it as a part of our R&D program.
At some point, I think you're exactly right, it becomes a separate business. And there's a really nice amount of technology crossover both directions. So, what we've learned on printing in other segment, industrial and healthcare, we can apply to regenerative and vice versa. We're learning a lot in regenerative that we're now carrying back into our industrial markets.
But outside of that technological crossover, they really are different end markets and potentially different customer or different investor bases. So, what I -- and I can't speculate exactly on the timing, but I think the path you laid out is probably correct is it will become a separate business unit for us. And in that sense, we have flexibility to bring in new outside investors in that business that have an interest in that if the capital requirements are such that that's needed, we'd have the flexibility to spend it if it made sense to do so. So however, we can continue to un-trap value in that over time, that's exactly what we would do.
So, I see it growing kind of in the direction you suggested. And as we hit some of these key milestones and it becomes more and more publicly clear what this business is capable of, I think it's -- the time will be right some time to probably separate it -- set it up as a separate business unit. And whether we spin it or we take outside investment, that's a decision that'll have to follow.
Shannon Cross -- Credit Suisse -- Analyst
OK. Yes, that's helpful. And then I think on the industrial side, you mentioned that a number of deals that were pushed actually have either closed or are closing or I guess you said closed in July. So, I'm wondering is it that you're just seeing incremental push out, so it's just kind of a rolling issue within the industry, and that's why you're providing a bit more cautious commentary?
Jeff Graves -- President and Chief Executive Officer
Yes, exactly right, Shannon, very simply. It's -- because it was particularly on higher ASP products, both in metals and polymers, but particularly on bigger capital spends from our customer than moving a little bit more slowly on approving POs. So what we had -- what we saw not come in at the end of Q2 largely landed in July in Q3. And we just kind of expect that trend right now until proven otherwise to just kind of roll through the year.
Shannon Cross -- Credit Suisse -- Analyst
Is there an -- I guess, are there any specific industries or again, high ASP, we can probably guess, but as we think about --
Jeff Graves -- President and Chief Executive Officer
It's pretty broad -- honestly, Shannon, it's pretty broad industrially. I think everybody is being conservative on cash spend. And it's not that they don't have -- they've got great check books. It's that they just want to be prudent in how fast they expand capacity or bring in new capabilities.
So -- and again, it was tilted toward our higher expense items. And so you would imagine that's just people slow rolling capex spending, and it wasn't. It wasn't dramatic, but it does change the outlook of the year, which is why we updated guidance.
Michael Turner -- Executive Vice President, Chief Financial Officer
And, Shannon, just to be clear, this impacted both industrial and healthcare. It was largely on the printer side of our portfolio. So, it was literally across all segments of our business kind of uniformly.
Jeff Graves -- President and Chief Executive Officer
Yes, it affected printers. That's exactly where it hits. For example, our personalized health service business is going very strong and it's -- that's about procedures. That's about medical procedures and hospitals and helping people repair their body.
Everything else that's printer driven was exposed to that same kind of dynamic.
Shannon Cross -- Credit Suisse -- Analyst
OK, great. Thank you so much.
Jeff Graves -- President and Chief Executive Officer
You're welcome, Shannon.
Michael Turner -- Executive Vice President, Chief Financial Officer
Thanks, Shannon.
Operator
Thank you. Next question is coming from Alek Valero from Loop Capital Markets. Your line is now live.
Alek Valero -- Loop Capital Markets -- Analyst
Hey, guys. How's it going? It's Alex on for Ananda. My question is, so to what degree does your desire to combine with Stratasys has to do with accelerating key industry adoption? And if so, how would that adoption look like and where?
Jeff Graves -- President and Chief Executive Officer
So if I heard you correctly, how -- is it influenced by industry adoption of 3D printing?
Alek Valero -- Loop Capital Markets -- Analyst
That's right. Like your desire to combine with Stratasys? Yes.
Jeff Graves -- President and Chief Executive Officer
Well, sure. Yes, absolutely. It's an accelerator. So, as a stand-alone company, what we're doing right now is trying to replicate what we've done in orthodontics across other market verticals.
And the scale that you get to by combining with a company of Stratasys' size and it brings in very complementary technologies, it gives you more horsepower to do that more quickly. So it doesn't directionally change things, but it does allow you to move faster. So that's what I love about this combination is strategically it's the same path that we're on and ultimately I believe they're on too, but it just allows it to occur much more quickly. And the window of opportunity right now for customers to look 3D printing in factories, it's open right now.
Coming out of COVID, our customers experienced the same thing we did. They were all worried about their supply chain. And the bigger the customer, the more worried they were, because most of those supply chains, but if you go outside of healthcare, most of them are extended around the world. So you got parts coming out of Asia.
You've got assembly operations all over the world. You had tons of labor and component shortages during the COVID period and it's caused everyone to relook at their supply chain. And once you do that, you look at a location, you also look at content. You look at what technology are using to make parts.
And with 3D printing, they get an improvement in performance of the parts. And now they get very good economics, but you've got to go out and touch them, and you've got to demonstrate the technology for them. Many of these guys have never used 3D printing in a factory before at all. They've never used it.
So that's why I pointed out the customer has really changed. It's now factory managers. And if you ever -- I grew up part of my career in factories. And if you ever meet a factory manager, they are some of the most focused conservative people in the world.
They do not want to miss a delivery. So, if they're going to bring in 3D printing, a new technology, you're going to have to demonstrate it for them, sell them on the economics, the risk, and the complete workflow economics. So, what Stratasys' combination with us does is it just increases the pace of that capability. And it makes it more robust, because it's, again, a broader technology offering, gives us a better financial profile for continued investment.
The cost synergies are amazing to me, $110 million to the bottom line. So, you've got a good sustainable profitable business. And that, again, from a customer standpoint, that's what you want to see in a supplier. We have to serve these guys on multiple continents, most of the big ones, where the real volume is at, they're on multiple continents.
So, you've got to have a footprint where you can support that. And we'll get there on our own market vertical by market vertical, it's fine. But if we can combine with Stratasys, we get there a whole lot faster with a whole lot more efficiency. That's why we've been working at it for two years, honestly.
The logic has been there for two years since we reorganize this business. So I hope we can make it happen.
Alek Valero -- Loop Capital Markets -- Analyst
Awesome. Thank you so much for that. Really appreciate it.
Jeff Graves -- President and Chief Executive Officer
You're welcome.
Operator
Thank you. Next question is coming from Brian Drab from William Blair. Your line is now live.
Tyler Hutin -- William Blair and Company -- Analyst
Good morning, guys. This is Tyler Hutin on for Brian.
Jeff Graves -- President and Chief Executive Officer
Good morning.
Michael Turner -- Executive Vice President, Chief Financial Officer
Hey, good morning.
Tyler Hutin -- William Blair and Company -- Analyst
I just wanted to touch on the extrusion [Inaudible] Titan. So, you guys mentioned some of the end market benefits getting traction. Can you just dive into that a little more? Where you're seeing those traction and just kind of where the opportunity is going?
Jeff Graves -- President and Chief Executive Officer
Yes, I'm sorry, Tyler, I missed part of that. Michael, did you get Tyler's question?
Michael Turner -- Executive Vice President, Chief Financial Officer
So, Tyler, I just want to make sure I heard your question clearly. It was about Titan and specific traction in certain markets and in segments. Is that your ultimate question?
Tyler Hutin -- William Blair and Company -- Analyst
[Inaudible]
Operator
Would you mind picking up your handset? This is the operator. I do apologize. Would you mind picking up your handset?
Jeff Graves -- President and Chief Executive Officer
You got to climb out of that barrel, Tyler. It's hard to hear you. But no, if your question is about Titan, I'm very happy to take it. Titan is a marvelous platform.
It's a rugged large platform that our customers really enjoy. It's carved a really nice niche in the extrusion market, making a robust range of tooling for different applications now. It was a small U.S. start-up company that we acquired just over a year ago.
And so it's gotten really nice traction in the United States. We're now seeing it begin to take root in Europe and in Asia, because the value proposition is very high. They can make large parts quickly. It's got -- and the raw material input is pelletized.
It's from pellets. So it's a lower -- fundamentally lower cost raw material. So you get -- customers get a really good value. They get speed, size and a lower raw material cost for introducing Titan.
So the payback for them has been really attractive. The margins are good for us. So it's a really great sustainable business from my standpoint that I think will carve a really nice niche in the extrusion market.
Michael Turner -- Executive Vice President, Chief Financial Officer
Yes. And, Tyler, one other thing that I think about when we talk about Titan, one very interesting asset, it has in line finishing and kind of post part production -- or post- production work that can be done right in the machine itself. So that allows for streamline workloads.
Jeff Graves -- President and Chief Executive Officer
It's pretty cool, the guys that started this company, they're very bright, energetic young guys. They came out of the CNC milling industry. So this Titan has a rotating head on it that you can you can move from extrusion to machining very quickly. So, you can print a very large part at high speeds and then you can rotate the head and go back and machine the surface off to make it really smooth.
So it's kind of the best of both worlds all in a self-contained unit and easy to use. So we're really bullish on it and are excited to see its growth.
Operator
Thank you. We reached the end of our question-and-answer session. I'd like to turn the floor back over to Jeff for any further or closing comments.
Jeff Graves -- President and Chief Executive Officer
Thanks, Kevin, for hosting us. Listen, thank you all for tuning in. We look forward to updating you again next quarter and for taking questions along the way. Wish you all a great day and a great quarter ahead.
Thank you.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Mick McCloskey -- Vice President, Investor Relations
Jeff Graves -- President and Chief Executive Officer
Michael Turner -- Executive Vice President, Chief Financial Officer
Troy Jensen -- Lake Street Capital Markets -- Analyst
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Shannon Cross -- Credit Suisse -- Analyst
Alek Valero -- Loop Capital Markets -- Analyst
Tyler Hutin -- William Blair and Company -- Analyst
More DDD analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool recommends 3d Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3d Systems (NYSE: DDD) Q2 2023 Earnings Call Aug 09, 2023, 8:30 a.m. Operator [Operator signoff] Duration: 0 minutes Call participants: Mick McCloskey -- Vice President, Investor Relations Jeff Graves -- President and Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Shannon Cross -- Credit Suisse -- Analyst Alek Valero -- Loop Capital Markets -- Analyst Tyler Hutin -- William Blair and Company -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Second is through the execution of our stand-alone plan, which is built around securing new customer contracts and high value market verticals such as aerospace and defense, semiconductors, electronics, med devices, and others, commercializing our regenerative medicine business, a return to growth in orthodontics, of course, and the emergence of new significant dental applications.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Mick McCloskey -- Vice President, Investor Relations Jeff Graves -- President and Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Shannon Cross -- Credit Suisse -- Analyst Alek Valero -- Loop Capital Markets -- Analyst Tyler Hutin -- William Blair and Company -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3d Systems (NYSE: DDD) Q2 2023 Earnings Call Aug 09, 2023, 8:30 a.m. With me on today's call are Dr. Jeffrey Graves, president and chief executive officer; Michael Turner, executive vice president and chief financial officer; and Andrew Johnson, executive vice president, chief corporate development officer, and chief legal officer.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Mick McCloskey -- Vice President, Investor Relations Jeff Graves -- President and Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Shannon Cross -- Credit Suisse -- Analyst Alek Valero -- Loop Capital Markets -- Analyst Tyler Hutin -- William Blair and Company -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3d Systems (NYSE: DDD) Q2 2023 Earnings Call Aug 09, 2023, 8:30 a.m. With me on today's call are Dr. Jeffrey Graves, president and chief executive officer; Michael Turner, executive vice president and chief financial officer; and Andrew Johnson, executive vice president, chief corporate development officer, and chief legal officer.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Mick McCloskey -- Vice President, Investor Relations Jeff Graves -- President and Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Shannon Cross -- Credit Suisse -- Analyst Alek Valero -- Loop Capital Markets -- Analyst Tyler Hutin -- William Blair and Company -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3d Systems (NYSE: DDD) Q2 2023 Earnings Call Aug 09, 2023, 8:30 a.m. For our two business units, healthcare and industrial, we now target specific high value market verticals, picking a lead customer to work with intimately on their applications in each.
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2023-08-09 00:00:00 UTC
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3D Systems (DDD) Q2 Loss Meets Estimates, Revenues Miss
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https://www.nasdaq.com/articles/3d-systems-ddd-q2-loss-meets-estimates-revenues-miss
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3D Systems DDD reported mixed second-quarter 2023 results, wherein the bottom line matched the Zacks Consensus Estimate, but the top line fell short of the same. The company reported a second-quarter 2023 non-GAAP loss of 7 cents per share, in line with the consensus mark.
The bottom line was also flat with the year-ago quarter as the negative impact of reduced revenues was fully offset by the benefits of an improved gross margin and higher interest income earned on cash and cash equivalents due to an increased interest rate.
In the second quarter of 2023, 3D Systems reported revenues of $128.2 million, down 8.5% from the year-ago quarter, which missed the consensus mark of $134.3 million. On a constant-currency basis, revenues decreased 8.7% year over year. The dismal top-line performance reflects lower sales to certain dental orthodontic market customers due to macroeconomic headwinds that are negatively impacting the demand for elective dental procedures.
3D Systems Corporation Price, Consensus and EPS Surprise
3D Systems Corporation price-consensus-eps-surprise-chart | 3D Systems Corporation Quote
Second-Quarter in Detail
In the second quarter, Product revenues represented 69.6% of the total revenues and decreased 14.1% to $89.2 million. Revenues from Services, which accounted for the remaining 30.4% of revenues, climbed 7.6% year over year to $39 million. Our estimates for the Product and Services segments revenue were pegged at $95.6 million and $40.9 million, respectively.
On the basis of market type, revenues from the Healthcare segment fell 15.2% year over year to $60.9 million. On a constant-currency basis, the segment’s revenues plunged 15.4% year over year, mainly due to continued softness across the dental orthodontic market. Our model estimate for Healthcare division was pegged at $63.4 million.
The Industrial Division’s revenues decreased 1.4% year over year to $67.3 million. On a constant-currency basis, the segment’s revenues declined 1.7%. Our model estimate for Industrial division was pegged at $73.1 million.
In the second quarter of 2023, 3D Systems’ non-GAAP gross profit decreased 6.3% year over year to $49.9 million. However, the non-GAAP gross profit margin expanded 110 basis points to 39%, mainly driven by favorable pricing, a product mix and the benefits of cost optimization initiatives.
Adjusted EBITDA was negative $6.9 million, $4.3 million higher than the year-ago quarter. An increased adjusted EBITDA loss reflects the negative impact of lower sales volumes, an inflationary impact on input costs and continued investments for portfolio & business growth.
Balance Sheet Details
The company exited the second quarter with cash, cash equivalents and short-term investments of $491.6 million, lower than the previous quarter's $529.9 million. As of Jun 30, 2023, 3D Systems had total debt of $450.8 million, slightly up from the previous quarter’s $450.2 million.
In the first half of 2023, the company utilized $46.3 million of cash from operational activities.
Lowered 2023 Guidance
Battered by the dismal second-quarter performance, 3D Systems lowered its revenue guidance for the full-year 2023. The company now expects 2023 revenues in the range of $525-$545 million, down from the previous guidance in the band of $545-$575 million.
It now projects to exit the fourth quarter with positive adjusted EBITDA. Earlier, the company had projected adjusted EBITDA of $2 million or better in 2023.
However, 3D Systems still forecasts the non-GAAP gross profit margin in the 40%-42% range.
Zacks Rank & Stocks to Consider
Currently, 3D Systems carries a Zacks Rank #3 (Hold). Shares of DDD have increased 9.2% year to date (YTD).
Some better-ranked stocks from the broader technology sector are NVIDIA NVDA, CrowdStrike CRWD and Salesforce CRM. NVIDIA sports a Zacks Rank #1 (Strong Buy), while CrowdStrike and Salesforce each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NVIDIA's second-quarter fiscal 2024 earnings has been revised upward by a couple of cents to $2.06 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 13 cents to $7.79 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on two occasions, the average surprise being 0.3%. Shares of NVDA have surged 205.7% YTD.
The Zacks Consensus Estimate for CrowdStrike’s second-quarter fiscal 2024 earnings has been revised a penny northward to 56 cents per share in the past 60 days. For fiscal 2024, earnings estimates have moved a penny upward to $2.39 per share in the past 60 days.
CrowdStrike’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 19.2%. Shares of CRWD have rallied 38.6% YTD.
The Zacks Consensus Estimate for Salesforce's second-quarter fiscal 2024 earnings has been revised upward by a penny to $1.90 per share in the past 60 days. For fiscal 2024, earnings estimates have moved upward by a couple of cents to $7.44 per share in the past 60 days.
Salesforce's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 15.5%. Shares of CRM have surged 59.6% YTD.
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3D Systems Corporation (DDD) : Free Stock Analysis Report
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To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD reported mixed second-quarter 2023 results, wherein the bottom line matched the Zacks Consensus Estimate, but the top line fell short of the same. Shares of DDD have increased 9.2% year to date (YTD). Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report CrowdStrike (CRWD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report CrowdStrike (CRWD) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD reported mixed second-quarter 2023 results, wherein the bottom line matched the Zacks Consensus Estimate, but the top line fell short of the same. Shares of DDD have increased 9.2% year to date (YTD).
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Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report CrowdStrike (CRWD) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD reported mixed second-quarter 2023 results, wherein the bottom line matched the Zacks Consensus Estimate, but the top line fell short of the same. Shares of DDD have increased 9.2% year to date (YTD).
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3D Systems DDD reported mixed second-quarter 2023 results, wherein the bottom line matched the Zacks Consensus Estimate, but the top line fell short of the same. Shares of DDD have increased 9.2% year to date (YTD). Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report CrowdStrike (CRWD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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2023-08-09 00:00:00 UTC
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3D Systems (DDD) Reports Q2 Loss, Lags Revenue Estimates
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https://www.nasdaq.com/articles/3d-systems-ddd-reports-q2-loss-lags-revenue-estimates
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3D Systems (DDD) came out with a quarterly loss of $0.07 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this maker of 3D printers would post a loss of $0.08 per share when it actually produced a loss of $0.09, delivering a surprise of -12.50%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
3D Systems, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $128.19 million for the quarter ended June 2023, missing the Zacks Consensus Estimate by 4.51%. This compares to year-ago revenues of $140.05 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
3D Systems shares have added about 9.2% since the beginning of the year versus the S&P 500's gain of 17.2%.
What's Next for 3D Systems?
While 3D Systems has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for 3D Systems: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.04 on $134.78 million in revenues for the coming quarter and -$0.19 on $536.19 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Mini computers is currently in the top 43% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, HP (HPQ), is yet to report results for the quarter ended July 2023.
This personal computer and printer maker is expected to post quarterly earnings of $0.85 per share in its upcoming report, which represents a year-over-year change of -18.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
HP's revenues are expected to be $13.33 billion, down 9.1% from the year-ago quarter.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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3D Systems Corporation (DDD) : Free Stock Analysis Report
HP Inc. (HPQ) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (DDD) came out with a quarterly loss of $0.07 per share in line with the Zacks Consensus Estimate. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report To read this article on Zacks.com click here. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems (DDD) came out with a quarterly loss of $0.07 per share in line with the Zacks Consensus Estimate. 3D Systems, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $128.19 million for the quarter ended June 2023, missing the Zacks Consensus Estimate by 4.51%.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems (DDD) came out with a quarterly loss of $0.07 per share in line with the Zacks Consensus Estimate. 3D Systems, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $128.19 million for the quarter ended June 2023, missing the Zacks Consensus Estimate by 4.51%.
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3D Systems (DDD) came out with a quarterly loss of $0.07 per share in line with the Zacks Consensus Estimate. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report To read this article on Zacks.com click here. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
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b30f0b4a-2af1-453f-b1fb-c1a230c8d11d
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716409.0
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2023-08-07 00:00:00 UTC
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3D Systems (DDD) to Report Q2 Earnings: What's in the Cards?
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-to-report-q2-earnings%3A-whats-in-the-cards
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nan
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nan
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3D Systems DDD is slated to report second-quarter 2023 results on Aug 9, before market open.
The Zacks Consensus Estimate for revenues is pegged at $134.3 million, suggesting a decline of 4.1% from the year-ago reported figure. The consensus mark was pegged at a loss of 7 cents per share, unchanged from the year-ago quarter’s loss.
The company’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average surprise being 19%.
3D Systems Corporation Price and EPS Surprise
3D Systems Corporation price-eps-surprise | 3D Systems Corporation Quote
Factors to Note
3D Systems’ second-quarter performance is expected to have benefited from increased demand for its Healthcare segment’s products. Stabilization at the Industrial division is likely to have contributed to the to-be-reported quarter’s top line. Our model estimates Healthcare revenues to be $63.4 million.
Strong demand in dental applications and advanced manufacturing of medical devices might get reflected in the second-quarter top line. Strength in demand for additive solutions in general across industries may have acted as a tailwind in the quarter to be reported. Our model predicts Industrial revenues to be $73.1 million.
DDD’s cost-saving efforts, which include cost-restructuring activities, reduced hiring and lower travel expenses, are expected to have boosted margins in the second quarter. However, normal seasonality, supply related constraints and business divestments might have weighed on overall quarterly performance.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for 3D Systems this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Although DDD carries a Zacks Rank #3 at present, it has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable Combination
Per our model, Twilio TWLO, Celsius CELH and Inter Parfums IPAR have the right combination of elements to post an earnings beat in upcoming releases.
Twilio has an Earnings ESP of +6.90% and carries a Zacks Rank #2, at present. It is scheduled to report second-quarter 2023 results on Aug 8. TWLO’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 138.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TWLO’s quarterly earnings is pegged at 29 cents per share, suggesting a year-over-year surge of 363.6%. Quarterly revenues are estimated to increase 4.4% year over year to $984.5 million.
Currently, Celsius has an Earnings ESP of +16.51% and carries a Zacks Rank #3. It is set to report second-quarter 2023 results on Aug 8. CELH’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering a negative surprise of 99%, on average.
The Zacks Consensus Estimate for CELH’s second-quarter earnings is pegged at 26 cents per share, implying a year-over-year rise of 116.7%. The company is estimated to report revenues of $281.9 million, which suggests an improvement of 83.1% from the year-ago quarter.
Inter Parfums has an Earnings ESP of +6.22% and presently carries a Zacks Rank #2. It is slated to report second-quarter 2023 results on Aug 8. IPAR’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters, missing once, the average surprise being 37.2%.
The Zacks Consensus Estimate for Inter Parfums’ second-quarter earnings is pegged at 89 cents per share, indicating a 3.5% increase from the year-ago quarter’s 86 cents. The consensus mark for revenues is pegged at $309.1 million, suggesting a year-over-year climb of 26.3%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
3D Systems Corporation (DDD) : Free Stock Analysis Report
Inter Parfums, Inc. (IPAR) : Free Stock Analysis Report
Twilio Inc. (TWLO) : Free Stock Analysis Report
Celsius Holdings Inc. (CELH) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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DDD’s cost-saving efforts, which include cost-restructuring activities, reduced hiring and lower travel expenses, are expected to have boosted margins in the second quarter. 3D Systems DDD is slated to report second-quarter 2023 results on Aug 9, before market open. Although DDD carries a Zacks Rank #3 at present, it has an Earnings ESP of 0.00%.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Inter Parfums, Inc. (IPAR) : Free Stock Analysis Report Twilio Inc. (TWLO) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD is slated to report second-quarter 2023 results on Aug 9, before market open. DDD’s cost-saving efforts, which include cost-restructuring activities, reduced hiring and lower travel expenses, are expected to have boosted margins in the second quarter.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Inter Parfums, Inc. (IPAR) : Free Stock Analysis Report Twilio Inc. (TWLO) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD is slated to report second-quarter 2023 results on Aug 9, before market open. DDD’s cost-saving efforts, which include cost-restructuring activities, reduced hiring and lower travel expenses, are expected to have boosted margins in the second quarter.
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3D Systems DDD is slated to report second-quarter 2023 results on Aug 9, before market open. DDD’s cost-saving efforts, which include cost-restructuring activities, reduced hiring and lower travel expenses, are expected to have boosted margins in the second quarter. Although DDD carries a Zacks Rank #3 at present, it has an Earnings ESP of 0.00%.
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e1fc34f1-c8b6-45cf-9569-3acac3fc10c8
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716410.0
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2023-08-03 00:00:00 UTC
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Apple (AAPL) Tops Q3 Earnings and Revenue Estimates
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DDD
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https://www.nasdaq.com/articles/apple-aapl-tops-q3-earnings-and-revenue-estimates-0
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nan
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nan
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Apple (AAPL) came out with quarterly earnings of $1.26 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $1.20 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 5.88%. A quarter ago, it was expected that this maker of iPhones, iPads and other products would post earnings of $1.44 per share when it actually produced earnings of $1.52, delivering a surprise of 5.56%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Apple, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $81.8 billion for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 0.54%. This compares to year-ago revenues of $82.96 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Apple shares have added about 48.2% since the beginning of the year versus the S&P 500's gain of 17.6%.
What's Next for Apple?
While Apple has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Apple: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.37 on $91.36 billion in revenues for the coming quarter and $6 on $384.53 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Mini computers is currently in the top 45% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
3D Systems (DDD), another stock in the same industry, has yet to report results for the quarter ended June 2023. The results are expected to be released on August 9.
This maker of 3D printers is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
3D Systems' revenues are expected to be $134.25 million, down 4.1% from the year-ago quarter.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Apple Inc. (AAPL) : Free Stock Analysis Report
3D Systems Corporation (DDD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (DDD), another stock in the same industry, has yet to report results for the quarter ended June 2023. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems (DDD), another stock in the same industry, has yet to report results for the quarter ended June 2023. Apple, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $81.8 billion for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 0.54%.
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3D Systems (DDD), another stock in the same industry, has yet to report results for the quarter ended June 2023. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple (AAPL) came out with quarterly earnings of $1.26 per share, beating the Zacks Consensus Estimate of $1.19 per share.
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3D Systems (DDD), another stock in the same industry, has yet to report results for the quarter ended June 2023. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple (AAPL) came out with quarterly earnings of $1.26 per share, beating the Zacks Consensus Estimate of $1.19 per share.
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00587940-1f19-477c-a745-3eb5971a1bdf
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716411.0
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2023-07-20 00:00:00 UTC
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Interesting DDD Put And Call Options For September 15th
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DDD
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https://www.nasdaq.com/articles/interesting-ddd-put-and-call-options-for-september-15th
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nan
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nan
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Investors in 3D Systems Corp. (Symbol: DDD) saw new options become available today, for the September 15th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DDD options chain for the new September 15th contracts and identified one put and one call contract of particular interest.
The put contract at the $9.00 strike price has a current bid of 60 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $9.00, but will also collect the premium, putting the cost basis of the shares at $8.40 (before broker commissions). To an investor already interested in purchasing shares of DDD, that could represent an attractive alternative to paying $9.39/share today.
Because the $9.00 strike represents an approximate 4% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 6.67% return on the cash commitment, or 42.69% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for 3D Systems Corp., and highlighting in green where the $9.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $10.00 strike price has a current bid of 60 cents. If an investor was to purchase shares of DDD stock at the current price level of $9.39/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $10.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 12.89% if the stock gets called away at the September 15th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if DDD shares really soar, which is why looking at the trailing twelve month trading history for 3D Systems Corp., as well as studying the business fundamentals becomes important. Below is a chart showing DDD's trailing twelve month trading history, with the $10.00 strike highlighted in red:
Considering the fact that the $10.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 6.39% boost of extra return to the investor, or 40.92% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $9.39) to be 62%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
Also see:
Specialty Retail Dividend Stocks
VTL YTD Return
INDY market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if DDD shares really soar, which is why looking at the trailing twelve month trading history for 3D Systems Corp., as well as studying the business fundamentals becomes important. Below is a chart showing DDD's trailing twelve month trading history, with the $10.00 strike highlighted in red: Considering the fact that the $10.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in 3D Systems Corp. (Symbol: DDD) saw new options become available today, for the September 15th expiration.
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Below is a chart showing DDD's trailing twelve month trading history, with the $10.00 strike highlighted in red: Considering the fact that the $10.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in 3D Systems Corp. (Symbol: DDD) saw new options become available today, for the September 15th expiration.
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Below is a chart showing DDD's trailing twelve month trading history, with the $10.00 strike highlighted in red: Considering the fact that the $10.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in 3D Systems Corp. (Symbol: DDD) saw new options become available today, for the September 15th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DDD options chain for the new September 15th contracts and identified one put and one call contract of particular interest.
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At Stock Options Channel, our YieldBoost formula has looked up and down the DDD options chain for the new September 15th contracts and identified one put and one call contract of particular interest. Below is a chart showing DDD's trailing twelve month trading history, with the $10.00 strike highlighted in red: Considering the fact that the $10.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in 3D Systems Corp. (Symbol: DDD) saw new options become available today, for the September 15th expiration.
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346f6cf1-29b3-4347-a3e9-07b04d6cd285
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716412.0
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2023-07-19 00:00:00 UTC
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3D Systems (DDD) Printer to Upscale Manufacturing in India
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-printer-to-upscale-manufacturing-in-india-0
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nan
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nan
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3D Systems DDD recently announced that an additive manufacturing-focused training center, Matrix Moon, purchased the company’s EXT 1070 Titan Pellet 3D printer.
With this move, 3D Systems’ reseller, Matrix Moon, intends to transform manufacturing in India. Matrix Moon will utilize the EXT Titan Pellet system to efficiently and cost-effectively offer a broad range of applications for its customers. This will include molds, tooling and patterns for foundries and plastics manufacturers, as well as end-use parts in aerospace, automotive, HVAC and consumer product industries.
The EXT 1070 Titan Pellet is a large-format and high-speed industrial production system utilizing low-cost thermoplastic pellet feedstocks. It is a proven production additive manufacturing system for applications including patterns, molds, tooling, jigs, fixtures, end-use parts and full-scale prototypes. Built with a welded steel frame and an industrial actively heated enclosure, the 3D Systems EXT 1070 produces functional and high-performance parts on the factory floor. The modular toolhead system enables customers to add a second pellet extruder, filament printing capability and/or computerized numerical control milling functionality either with initial machine purchase or after.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
The EXT Titan Pellet printers’ global install base includes companies in industries like automotive, aerospace, foundries, consumer products and general manufacturing. The printers offer up to 10 times reduction in material cost and a wider range of functional materials than traditional filament-based 3D printers. Matrix Moon, the first to bring this technology in India, will use EXT 1070 Titan Pellet 3D printer to produce sample parts from its demo center. It has chosen the configuration that includes the optional milling spindle tool head to enable hybrid additive and subtractive manufacturing processes on the same machine.
The company is anticipating material science to be a key driver in the transition to 3D production. It is investing large sums in material innovation across its portfolio to capitalize on this trend. Going forward, it expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
The company recently collaborated with Munich-headquartered Oerlikon AM to scale metal additive manufacturing in high-criticality markets like semiconductor and aerospace.
In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan. SWANY is planning to open a new demo center with 3D Systems EXT 1070 Titan Pellet printer (formerly, Titan Atlas 2.5 HS) in October 2023. Together, the companies will showcase high-throughput production capabilities by enabling efficient additive and subtractive production of large-format parts.
In May, an Ohio-based contract manufacturer, The Technology House, purchased SLA 750 from 3D Systems to enhance manufacturing workflow. In the same month, MolyWorks, a California-based developer of the circular economy for metal, integrated the company’s direct metal printing solution, Flex 350, into its manufacturing workflow.
In April, the company revealed that the University Hospital of Salzburg in Austria has successfully implemented 3D Systems’ Kumovis R1 printer and its subsidiary, Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need.
In March, DDD collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
Designed under the partnership of the company’s Application Innovation Group and TE Connectivity’s team to meet TEL’s material performance and high tolerance requirements, the newly developed solution leverages 3D Systems’ Figure 4 Modular, Figure 4 material and 3D Sprint software solution & services. The solution is the first known printable photopolymer to complete a UL1-recognized long-term thermal aging study.
Oqton, a wholly-owned and independently operated subsidiary of the additive manufacturer, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
Per the agreement, the two companies will combine their expertise in engineering and manufacturing skills to transform the way products are brought to the market in highly regulated industries like energy, aerospace and healthcare. Baker Hughes intends to integrate Oqton’s Manufacturing Operating System into its proprietary applications creating an enhanced additive manufacturing platform that will accelerate innovation in the energy sector.
During the March-ended quarter, 3D Systems reported revenues of $121.2 million, which declined 8.8% from the year-ago quarter. The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $134.3 million, suggesting a 4% decrease from the year-ago quarter’s $140.1 million.
Zacks Rank & a Key Pick
Currently, 3D Systems, TE Connectivity and Baker Hughes carry a Zacks Rank #3 (Hold) each. Shares of DDD have lost 5.8% but that of TEL and BKR have gained 18.8% and 24.2%, respectively, over the past year.
A better-ranked stock from the broader Computer and Technology sector is Salesforce CRM, sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Salesforce’s second-quarter fiscal 2024 earnings has been revised northward by a penny to $1.90 per share over the past 30 days. For fiscal 2024, earnings estimates have moved up by 2 cents to $7.44 in the past 30 days.
CRM's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 15.5%. Shares of the company have gained 30.9% in the past year.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Salesforce Inc. (CRM) : Free Stock Analysis Report
TE Connectivity Ltd. (TEL) : Free Stock Analysis Report
3D Systems Corporation (DDD) : Free Stock Analysis Report
Baker Hughes Company (BKR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD recently announced that an additive manufacturing-focused training center, Matrix Moon, purchased the company’s EXT 1070 Titan Pellet 3D printer. In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan. In March, DDD collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
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Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently announced that an additive manufacturing-focused training center, Matrix Moon, purchased the company’s EXT 1070 Titan Pellet 3D printer. In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan.
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Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently announced that an additive manufacturing-focused training center, Matrix Moon, purchased the company’s EXT 1070 Titan Pellet 3D printer. In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan.
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3D Systems DDD recently announced that an additive manufacturing-focused training center, Matrix Moon, purchased the company’s EXT 1070 Titan Pellet 3D printer. In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan. In March, DDD collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
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09859e30-20f7-47c5-b364-fe8950c6f82f
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716413.0
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2023-07-19 00:00:00 UTC
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3D Systems (DDD) Printer to Upscale Manufacturing in India
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-printer-to-upscale-manufacturing-in-india
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nan
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nan
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3D Systems DDD recently announced that an additive manufacturing-focused training center, Matrix Moon, purchased the company’s EXT 1070 Titan Pellet 3D printer.
With this move, 3D Systems’ reseller, Matrix Moon, intends to transform manufacturing in India. Matrix Moon will utilize the EXT Titan Pellet system to efficiently and cost-effectively offer a broad range of applications for its customers. This will include molds, tooling and patterns for foundries and plastics manufacturers, as well as end-use parts in aerospace, automotive, HVAC and consumer product industries.
The EXT 1070 Titan Pellet is a large-format and high-speed industrial production system utilizing low-cost thermoplastic pellet feedstocks. It is a proven production additive manufacturing system for applications including patterns, molds, tooling, jigs, fixtures, end-use parts and full-scale prototypes. Built with a welded steel frame and an industrial actively heated enclosure, the 3D Systems EXT 1070 produces functional and high-performance parts on the factory floor. The modular toolhead system enables customers to add a second pellet extruder, filament printing capability and/or computerized numerical control milling functionality either with initial machine purchase or after.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
The EXT Titan Pellet printers’ global install base includes companies in industries like automotive, aerospace, foundries, consumer products and general manufacturing. The printers offer up to 10 times reduction in material cost and a wider range of functional materials than traditional filament-based 3D printers. Matrix Moon, the first to bring this technology in India, will use EXT 1070 Titan Pellet 3D printer to produce sample parts from its demo center. It has chosen the configuration that includes the optional milling spindle tool head to enable hybrid additive and subtractive manufacturing processes on the same machine.
The company is anticipating material science to be a key driver in the transition to 3D production. It is investing large sums in material innovation across its portfolio to capitalize on this trend. Going forward, it expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
The company recently collaborated with Munich-headquartered Oerlikon AM to scale metal additive manufacturing in high-criticality markets like semiconductor and aerospace.
In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan. SWANY is planning to open a new demo center with 3D Systems EXT 1070 Titan Pellet printer (formerly, Titan Atlas 2.5 HS) in October 2023. Together, the companies will showcase high-throughput production capabilities by enabling efficient additive and subtractive production of large-format parts.
In May, an Ohio-based contract manufacturer, The Technology House, purchased SLA 750 from 3D Systems to enhance manufacturing workflow. In the same month, MolyWorks, a California-based developer of the circular economy for metal, integrated the company’s direct metal printing solution, Flex 350, into its manufacturing workflow.
In April, the company revealed that the University Hospital of Salzburg in Austria has successfully implemented 3D Systems’ Kumovis R1 printer and its subsidiary, Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need.
In March, DDD collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
Designed under the partnership of the company’s Application Innovation Group and TE Connectivity’s team to meet TEL’s material performance and high tolerance requirements, the newly developed solution leverages 3D Systems’ Figure 4 Modular, Figure 4 material and 3D Sprint software solution & services. The solution is the first known printable photopolymer to complete a UL1-recognized long-term thermal aging study.
Oqton, a wholly-owned and independently operated subsidiary of the additive manufacturer, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
Per the agreement, the two companies will combine their expertise in engineering and manufacturing skills to transform the way products are brought to the market in highly regulated industries like energy, aerospace and healthcare. Baker Hughes intends to integrate Oqton’s Manufacturing Operating System into its proprietary applications creating an enhanced additive manufacturing platform that will accelerate innovation in the energy sector.
During the March-ended quarter, 3D Systems reported revenues of $121.2 million, which declined 8.8% from the year-ago quarter. The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $134.3 million, suggesting a 4% decrease from the year-ago quarter’s $140.1 million.
Zacks Rank & a Key Pick
Currently, 3D Systems, TE Connectivity and Baker Hughes carry a Zacks Rank #3 (Hold) each. Shares of DDD have lost 5.8% but that of TEL and BKR have gained 18.8% and 24.2%, respectively, over the past year.
A better-ranked stock from the broader Computer and Technology sector is Salesforce CRM, sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Salesforce’s second-quarter fiscal 2024 earnings has been revised northward by a penny to $1.90 per share over the past 30 days. For fiscal 2024, earnings estimates have moved up by 2 cents to $7.44 in the past 30 days.
CRM's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 15.5%. Shares of the company have gained 30.9% in the past year.
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Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Salesforce Inc. (CRM) : Free Stock Analysis Report
TE Connectivity Ltd. (TEL) : Free Stock Analysis Report
3D Systems Corporation (DDD) : Free Stock Analysis Report
Baker Hughes Company (BKR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD recently announced that an additive manufacturing-focused training center, Matrix Moon, purchased the company’s EXT 1070 Titan Pellet 3D printer. In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan. In March, DDD collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
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Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently announced that an additive manufacturing-focused training center, Matrix Moon, purchased the company’s EXT 1070 Titan Pellet 3D printer. In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan.
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Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently announced that an additive manufacturing-focused training center, Matrix Moon, purchased the company’s EXT 1070 Titan Pellet 3D printer. In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan.
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3D Systems DDD recently announced that an additive manufacturing-focused training center, Matrix Moon, purchased the company’s EXT 1070 Titan Pellet 3D printer. In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan. In March, DDD collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
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42791f3c-d096-44c1-9b27-1210963340f5
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716414.0
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2023-07-17 00:00:00 UTC
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Technology Sector Update for 07/17/2023: MSFT, ATVI, DUO, DDD, SSYS, DM, BRQS
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DDD
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https://www.nasdaq.com/articles/technology-sector-update-for-07-17-2023%3A-msft-atvi-duo-ddd-ssys-dm-brqs
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Tech stocks were higher late Monday with the Technology Select Sector SPDR Fund (XLK) up 1.5% and the Philadelphia Semiconductor index climbing 2.7%.
In company news, Microsoft's (MSFT) $69 billion takeover of Activision Blizzard (ATVI) received a break on Monday when the UK's Competition Appeal Tribunal ruled the country's Competition and Markets Authority's proposed ban on the deal can be put on hold while companies and regulator hold more talks on the acquisition, Bloomberg reported Monday. Microsoft shares rose 0.1% while Activision added 3.3%.
Fangdd Network Group (DUO) shares slumped 52% after the company said it expects to raise about $8 million following a deal to sell securities to some investors in a registered direct offering.
3D Systems (DDD) welcomed the determination by Stratasys (SSYS) board that its proposed merger with Stratasys is a "superior proposal' to Stratasys' merger agreement with Desktop Metal (DM). Stratasys shares were up 2%, 3D Systems was down 4.9% and Desktop Metal rose 3%.
Borqs Technologies (BRQS) said Monday it is planning to develop an artificial intelligence-enabled smartwatch as part of its expansion strategy into AI for the US market. Its shares shed 0.1%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (DDD) welcomed the determination by Stratasys (SSYS) board that its proposed merger with Stratasys is a "superior proposal' to Stratasys' merger agreement with Desktop Metal (DM). Tech stocks were higher late Monday with the Technology Select Sector SPDR Fund (XLK) up 1.5% and the Philadelphia Semiconductor index climbing 2.7%. In company news, Microsoft's (MSFT) $69 billion takeover of Activision Blizzard (ATVI) received a break on Monday when the UK's Competition Appeal Tribunal ruled the country's Competition and Markets Authority's proposed ban on the deal can be put on hold while companies and regulator hold more talks on the acquisition, Bloomberg reported Monday.
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3D Systems (DDD) welcomed the determination by Stratasys (SSYS) board that its proposed merger with Stratasys is a "superior proposal' to Stratasys' merger agreement with Desktop Metal (DM). Microsoft shares rose 0.1% while Activision added 3.3%. Stratasys shares were up 2%, 3D Systems was down 4.9% and Desktop Metal rose 3%.
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3D Systems (DDD) welcomed the determination by Stratasys (SSYS) board that its proposed merger with Stratasys is a "superior proposal' to Stratasys' merger agreement with Desktop Metal (DM). In company news, Microsoft's (MSFT) $69 billion takeover of Activision Blizzard (ATVI) received a break on Monday when the UK's Competition Appeal Tribunal ruled the country's Competition and Markets Authority's proposed ban on the deal can be put on hold while companies and regulator hold more talks on the acquisition, Bloomberg reported Monday. Fangdd Network Group (DUO) shares slumped 52% after the company said it expects to raise about $8 million following a deal to sell securities to some investors in a registered direct offering.
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3D Systems (DDD) welcomed the determination by Stratasys (SSYS) board that its proposed merger with Stratasys is a "superior proposal' to Stratasys' merger agreement with Desktop Metal (DM). Tech stocks were higher late Monday with the Technology Select Sector SPDR Fund (XLK) up 1.5% and the Philadelphia Semiconductor index climbing 2.7%. Microsoft shares rose 0.1% while Activision added 3.3%.
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51fad072-11bc-4104-9217-6b78a7b0747a
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716415.0
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2023-07-17 00:00:00 UTC
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Technology Sector Update for 07/17/2023: MSFT, DUO, SSYS, DDD, DM
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DDD
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https://www.nasdaq.com/articles/technology-sector-update-for-07-17-2023%3A-msft-duo-ssys-ddd-dm
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Tech stocks were higher on Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising over 1% and the Philadelphia Semiconductor index adding 1.9%.
In company news, Microsoft (MSFT) will face a formal antitrust investigation by the European Commission next week over how it bundles its Teams and Office products, the Financial Times reported. Microsoft shares were up 0.2%.
Fangdd Network Group (DUO) shares slumped almost 52% after the company said it expects to raise about $8 million following a deal to sell securities to some investors in a registered direct offering.
3D Systems (DDD) welcomed the determination by Stratasys (SSYS) board that its proposed merger with Stratasys is a "superior proposal' to Stratasys' merger agreement with Desktop Metal (DM). Stratasys shares were up 3.8%, 3D Systems was down 2.6% and Desktop Metal rose 4.6%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (DDD) welcomed the determination by Stratasys (SSYS) board that its proposed merger with Stratasys is a "superior proposal' to Stratasys' merger agreement with Desktop Metal (DM). Tech stocks were higher on Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising over 1% and the Philadelphia Semiconductor index adding 1.9%. In company news, Microsoft (MSFT) will face a formal antitrust investigation by the European Commission next week over how it bundles its Teams and Office products, the Financial Times reported.
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3D Systems (DDD) welcomed the determination by Stratasys (SSYS) board that its proposed merger with Stratasys is a "superior proposal' to Stratasys' merger agreement with Desktop Metal (DM). Microsoft shares were up 0.2%. Stratasys shares were up 3.8%, 3D Systems was down 2.6% and Desktop Metal rose 4.6%.
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3D Systems (DDD) welcomed the determination by Stratasys (SSYS) board that its proposed merger with Stratasys is a "superior proposal' to Stratasys' merger agreement with Desktop Metal (DM). In company news, Microsoft (MSFT) will face a formal antitrust investigation by the European Commission next week over how it bundles its Teams and Office products, the Financial Times reported. Fangdd Network Group (DUO) shares slumped almost 52% after the company said it expects to raise about $8 million following a deal to sell securities to some investors in a registered direct offering.
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3D Systems (DDD) welcomed the determination by Stratasys (SSYS) board that its proposed merger with Stratasys is a "superior proposal' to Stratasys' merger agreement with Desktop Metal (DM). Tech stocks were higher on Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising over 1% and the Philadelphia Semiconductor index adding 1.9%. Microsoft shares were up 0.2%.
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716416.0
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2023-07-17 00:00:00 UTC
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Technology Sector Update for 07/17/2023: EBIX, SSYS, DDD, OPRA, XLK, XSD
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DDD
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https://www.nasdaq.com/articles/technology-sector-update-for-07-17-2023%3A-ebix-ssys-ddd-opra-xlk-xsd
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Technology stocks were leaning higher premarket Monday as the Technology Select Sector SPDR Fund (XLK) was up 0.1% while the SPDR S&P Semiconductor ETF (XSD) was inactive.
Ebix (EBIX) was slipping past 11% after the company issued "an informational release with a few clarifications and updates" to a previous strategic update it provided on Friday.
Stratasys (SSYS) was up almost 4% after saying it plans to "engage in discussions" with 3D Systems (DDD) over its revised acquisition proposal of $7.50 in cash and 1.54 newly issued common 3D Systems shares for each Stratasys share.
Opera (OPRA) said its shelf filing, once effective, provides an opportunity, but not a commitment, for the company or its pre-initial public offering shareholders to conduct offerings registered with the Securities and Exchange Commission over the following three years. Opera was over 3% higher in premarket activity.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stratasys (SSYS) was up almost 4% after saying it plans to "engage in discussions" with 3D Systems (DDD) over its revised acquisition proposal of $7.50 in cash and 1.54 newly issued common 3D Systems shares for each Stratasys share. Technology stocks were leaning higher premarket Monday as the Technology Select Sector SPDR Fund (XLK) was up 0.1% while the SPDR S&P Semiconductor ETF (XSD) was inactive. Opera (OPRA) said its shelf filing, once effective, provides an opportunity, but not a commitment, for the company or its pre-initial public offering shareholders to conduct offerings registered with the Securities and Exchange Commission over the following three years.
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Stratasys (SSYS) was up almost 4% after saying it plans to "engage in discussions" with 3D Systems (DDD) over its revised acquisition proposal of $7.50 in cash and 1.54 newly issued common 3D Systems shares for each Stratasys share. Technology stocks were leaning higher premarket Monday as the Technology Select Sector SPDR Fund (XLK) was up 0.1% while the SPDR S&P Semiconductor ETF (XSD) was inactive. Ebix (EBIX) was slipping past 11% after the company issued "an informational release with a few clarifications and updates" to a previous strategic update it provided on Friday.
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Stratasys (SSYS) was up almost 4% after saying it plans to "engage in discussions" with 3D Systems (DDD) over its revised acquisition proposal of $7.50 in cash and 1.54 newly issued common 3D Systems shares for each Stratasys share. Technology stocks were leaning higher premarket Monday as the Technology Select Sector SPDR Fund (XLK) was up 0.1% while the SPDR S&P Semiconductor ETF (XSD) was inactive. Opera (OPRA) said its shelf filing, once effective, provides an opportunity, but not a commitment, for the company or its pre-initial public offering shareholders to conduct offerings registered with the Securities and Exchange Commission over the following three years.
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Stratasys (SSYS) was up almost 4% after saying it plans to "engage in discussions" with 3D Systems (DDD) over its revised acquisition proposal of $7.50 in cash and 1.54 newly issued common 3D Systems shares for each Stratasys share. Technology stocks were leaning higher premarket Monday as the Technology Select Sector SPDR Fund (XLK) was up 0.1% while the SPDR S&P Semiconductor ETF (XSD) was inactive. Ebix (EBIX) was slipping past 11% after the company issued "an informational release with a few clarifications and updates" to a previous strategic update it provided on Friday.
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716417.0
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2023-07-14 00:00:00 UTC
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Stratasys (SSYS) Soars 9% as Takeover Bidding War Intensifies
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DDD
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https://www.nasdaq.com/articles/stratasys-ssys-soars-9-as-takeover-bidding-war-intensifies
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Stratasys Limited SSYS shares gained 9% on Thursday after receiving a revised acquisition offer from 3D Systems DDD, depicting a further intensifying bidding war to take over the 3D hardware and software solution provider.
On Jul 13, 3D Systems enhanced its bidding offer to acquire Stratasys for the second time. Under the revised cash-stock bidding proposal, 3D Systems is offering $7.50 in cash and 1.5444 shares of the combined company for each share of Stratasys.
The revised offer price is higher than 3D Systems’ May 30, 2023 initial offer of $7.50 in cash and 1.2507 shares. This is also way above the first revised proposal offered on Jun 27 of $7.50 in cash and 1.3223 newly issued shares of the combined company. The new bidding price increases the ownership of SSYS shareholders in the combined company to 44% from the initial offering of 40% and the first revised proposal of 41%.
Bidding War Accentuates for Stratasys
3D Systems’ enhanced offering to acquire Stratasys came days after Nano Dimension NNDM raised the price of its special tender offer from $20.05 to $24 per share in cash on Jul 10. 3D Systems latest offer values Stratasys shares at $24.07 based on the Jul 12 closing price, slightly higher than Nano Dimension’s new offer price.
The intensified takeover bidding war has led Stratasys’ share price higher year to date (YTD). SSYS stock has surged 76.3% YTD, outperforming the Zacks Computer Peripheral Equipment industry’s growth of a mere 3.6%.
Stratasys, Ltd. Price and Consensus
Stratasys, Ltd. price-consensus-chart | Stratasys, Ltd. Quote
While Nano Dimensions has been trying to acquire Stratasys since late March 2023 and revised its offerings multiple times, 3D Systems entered into the bidding race in late May. However, Stratasys has so far rejected the offers of both bidders except for the last revised proposals.
Meanwhile, on May 25, Stratasys announced that it has entered into a definitive agreement with Desktop Metal DM to combine the two companies in an all-stock transaction valued at approximately $1.8 billion. Following the merger, which is expected to be completed in the fourth quarter of 2023, Stratasys shareholders are anticipated to have a 59% stake in the combined company, while Desktop Metal shareholders will own the remaining 41%.
However, 3D Systems believes that its proposal is more favorable for Stratasys shareholders than the announced business combination with Desktop Metal. Talking about its revised bidding proposal, 3D Systems pointed out several benefits for shareholders as well as the combined company.
If management accepts 3D Systems’ proposal, apart from receiving instant cash benefits, Stratasys shareholders will get the share consideration on a tax-free basis. Furthermore, 3D Systems intends to fund the cash consideration from the pro forma balance sheet of the combined company, and hence, it will not be subject to any debt or equity financing condition.
3D Systems claims that the acquisition of Stratasys will create cost synergies of at least $100 million through research and development integration, selling, general and administrative savings and the cost of goods sold optimization. The combined company is anticipated to generate revenues of $1.2 billion and an EBITDA margin of approximately 12%.
What Makes Stratasys a Lucrative Takeover Target?
We believe that Stratasys’ strong long-term growth prospects make it a lucrative takeover target. SSYS has been scaling newer heights across all its business segments.
This Zacks Rank #3 (Hold) company has been benefiting from an increase in the demand for 3D-printed materials and its focus on product launches, strategic partnership agreements and acquisitions. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The company has inked strategic partnerships with the likes of Schneider Electric, The Boeing Co., Ford Motor Co., Siemens, Boom Supersonic and United Launch Alliance to fuel its growth momentum. Such collaborations help introduce advanced 3D printing technologies to the aerospace and automotive industries while expanding Stratasys’ geographic reach and driving its market penetration.
Also, Stratasys launched several innovative products, which position it well in the long term. Stratasys’ machines facilitate prototyping within a few hours, which reduces development time and upfront costs.
In May, the company reported better-than-expected results for the first quarter of 2023. Its first-quarter revenues of $149.4 million surpassed the Zacks Consensus Estimate of $142.2 million. Moreover, Stratasys reported non-GAAP earnings of 2 cents per share, while the consensus mark was pegged at a loss of 8 cents.
The 3D printing market presents a favorable long-term investment opportunity as a large number of engineers, designers, architects and entrepreneurs are resorting to 3D solutions for their primary designing and product modeling.
Per the MarketsandMarkets report, the global 3D printing market is expected to reach $34.5 billion by 2028 from $15 billion in 2023, representing a CAGR of 18.1% through the forecast period. Being one of the industry leaders in the 3D printing space, along with its sustained focus on developing innovative products, Stratasys is likely to grab a large share of this market.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Stratasys, Ltd. (SSYS) : Free Stock Analysis Report
3D Systems Corporation (DDD) : Free Stock Analysis Report
Desktop Metal, Inc. (DM) : Free Stock Analysis Report
Nano Dimension Ltd. (NNDM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stratasys Limited SSYS shares gained 9% on Thursday after receiving a revised acquisition offer from 3D Systems DDD, depicting a further intensifying bidding war to take over the 3D hardware and software solution provider. Click to get this free report Stratasys, Ltd. (SSYS) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Desktop Metal, Inc. (DM) : Free Stock Analysis Report Nano Dimension Ltd. (NNDM) : Free Stock Analysis Report To read this article on Zacks.com click here. Furthermore, 3D Systems intends to fund the cash consideration from the pro forma balance sheet of the combined company, and hence, it will not be subject to any debt or equity financing condition.
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Click to get this free report Stratasys, Ltd. (SSYS) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Desktop Metal, Inc. (DM) : Free Stock Analysis Report Nano Dimension Ltd. (NNDM) : Free Stock Analysis Report To read this article on Zacks.com click here. Stratasys Limited SSYS shares gained 9% on Thursday after receiving a revised acquisition offer from 3D Systems DDD, depicting a further intensifying bidding war to take over the 3D hardware and software solution provider. Bidding War Accentuates for Stratasys 3D Systems’ enhanced offering to acquire Stratasys came days after Nano Dimension NNDM raised the price of its special tender offer from $20.05 to $24 per share in cash on Jul 10.
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Click to get this free report Stratasys, Ltd. (SSYS) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Desktop Metal, Inc. (DM) : Free Stock Analysis Report Nano Dimension Ltd. (NNDM) : Free Stock Analysis Report To read this article on Zacks.com click here. Stratasys Limited SSYS shares gained 9% on Thursday after receiving a revised acquisition offer from 3D Systems DDD, depicting a further intensifying bidding war to take over the 3D hardware and software solution provider. Bidding War Accentuates for Stratasys 3D Systems’ enhanced offering to acquire Stratasys came days after Nano Dimension NNDM raised the price of its special tender offer from $20.05 to $24 per share in cash on Jul 10.
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Stratasys Limited SSYS shares gained 9% on Thursday after receiving a revised acquisition offer from 3D Systems DDD, depicting a further intensifying bidding war to take over the 3D hardware and software solution provider. Click to get this free report Stratasys, Ltd. (SSYS) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Desktop Metal, Inc. (DM) : Free Stock Analysis Report Nano Dimension Ltd. (NNDM) : Free Stock Analysis Report To read this article on Zacks.com click here. Under the revised cash-stock bidding proposal, 3D Systems is offering $7.50 in cash and 1.5444 shares of the combined company for each share of Stratasys.
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716418.0
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2023-07-13 00:00:00 UTC
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Technology Sector Update for 07/13/2023: MSFT, ATVI, SSYS, DDD, TTD, META
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DDD
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https://www.nasdaq.com/articles/technology-sector-update-for-07-13-2023%3A-msft-atvi-ssys-ddd-ttd-meta
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Tech stocks were higher late Thursday with the Technology Select Sector SPDR Fund (XLK) rising 1.4% and the Philadelphia Semiconductor index adding 2.1%.
In company news, the US Federal Trade Commission asked the Ninth Circuit Court of Appeals in San Francisco to overturn a lower-court judge's decision that Microsoft's (MSFT) Activision (ATVI) deal won't stifle competition and harm consumers, Reuters reported Thursday. Microsoft shares were up 1.7%, while Activision was down 0.4%.
Stratasys (SSYS) shares were up almost 9% after it said it received a revised proposal from 3D Systems (DDD) to buy Stratasys for $7.50 in cash and 1.5444 shares of 3D Systems per Stratasys share.
Trade Desk's (TTD) shares were rising 3.2% after Nasdaq (NDAQ) said the technology company is set to join some Nasdaq indexes, effective July 17.
Meta Platforms (META) is set to release a commercial version of its artificial-intelligence model, which will allow firms to build custom software on top of it, the Financial Times reported Thursday. Meta was up 1.4%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stratasys (SSYS) shares were up almost 9% after it said it received a revised proposal from 3D Systems (DDD) to buy Stratasys for $7.50 in cash and 1.5444 shares of 3D Systems per Stratasys share. Tech stocks were higher late Thursday with the Technology Select Sector SPDR Fund (XLK) rising 1.4% and the Philadelphia Semiconductor index adding 2.1%. In company news, the US Federal Trade Commission asked the Ninth Circuit Court of Appeals in San Francisco to overturn a lower-court judge's decision that Microsoft's (MSFT) Activision (ATVI) deal won't stifle competition and harm consumers, Reuters reported Thursday.
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Stratasys (SSYS) shares were up almost 9% after it said it received a revised proposal from 3D Systems (DDD) to buy Stratasys for $7.50 in cash and 1.5444 shares of 3D Systems per Stratasys share. In company news, the US Federal Trade Commission asked the Ninth Circuit Court of Appeals in San Francisco to overturn a lower-court judge's decision that Microsoft's (MSFT) Activision (ATVI) deal won't stifle competition and harm consumers, Reuters reported Thursday. Trade Desk's (TTD) shares were rising 3.2% after Nasdaq (NDAQ) said the technology company is set to join some Nasdaq indexes, effective July 17.
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Stratasys (SSYS) shares were up almost 9% after it said it received a revised proposal from 3D Systems (DDD) to buy Stratasys for $7.50 in cash and 1.5444 shares of 3D Systems per Stratasys share. In company news, the US Federal Trade Commission asked the Ninth Circuit Court of Appeals in San Francisco to overturn a lower-court judge's decision that Microsoft's (MSFT) Activision (ATVI) deal won't stifle competition and harm consumers, Reuters reported Thursday. Meta Platforms (META) is set to release a commercial version of its artificial-intelligence model, which will allow firms to build custom software on top of it, the Financial Times reported Thursday.
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Stratasys (SSYS) shares were up almost 9% after it said it received a revised proposal from 3D Systems (DDD) to buy Stratasys for $7.50 in cash and 1.5444 shares of 3D Systems per Stratasys share. Tech stocks were higher late Thursday with the Technology Select Sector SPDR Fund (XLK) rising 1.4% and the Philadelphia Semiconductor index adding 2.1%. Microsoft shares were up 1.7%, while Activision was down 0.4%.
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716419.0
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2023-07-12 00:00:00 UTC
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3D Systems (DDD) Collaborates With Munich's Oerlikon AM
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-collaborates-with-munichs-oerlikon-am
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3D Systems DDD recently announced that it has collaborated with Munich-headquartered Oerlikon AM to scale metal additive manufacturing (AM). Together, the companies intend to catalyze metal AM applications in high-criticality markets like semiconductor and aerospace.
Per the agreement, 3D Systems combines its Direct Metal Printing (DMP) platform with surface engineering capabilities of Oerlikon AM to ensure a faster manufacturing workflow for semiconductor and aerospace applications. Oerlikon is leveraging fourth 3D Systems DMP Factory 500 system to scale manufacturing in its North Carolina facility. This will expand Oerlikon’s end-to-end supply chain solution for high-precision, complex aluminum components for the U.S. market.
DDD’s Application Innovation Group and Oerlikon AM’s Application Engineering teams jointly developed this solution to produce high-criticality parts with lower lifecycle costs. This will enable increased quality, improved ownership costs and reduced time to market for the company. The combination of laser powder bed fusion process and material and process qualification results highest surface quality for metal 3D-printed parts that holds unique material properties.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
The company is anticipating material science to be a key driver in the transition to 3D production. It is investing large sums in material innovation across its portfolio to capitalize on this trend. Going forward, it expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan. SWANY is planning to open a new demo center with 3D Systems EXT 1070 Titan Pellet printer (formerly, Titan Atlas 2.5 HS) in October 2023. Together, the companies will showcase high-throughput production capabilities by enabling efficient additive and subtractive production of large-format parts.
In May, an Ohio-based contract manufacturer, The Technology House, purchased SLA 750 from the company to enhance manufacturing workflow. In the same month, MolyWorks, a California-based developer of the circular economy for metal, integrated the company’s direct metal printing solution, Flex 350, into its manufacturing workflow.
In April, the company revealed that the University Hospital of Salzburg in Austria has successfully implemented 3D Systems’ Kumovis R1 printer and its subsidiary, Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need.
In March, DDD collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
Designed under the partnership of the company’s Application Innovation Group and TE Connectivity’s team to meet TEL’s material performance and high tolerance requirements, the newly developed solution leverages 3D Systems’ Figure 4 Modular, Figure 4 material and 3D Sprint software solution & services. The solution is the first known printable photopolymer to complete a UL1-recognized long-term thermal aging study.
Oqton, a wholly-owned and independently operated subsidiary of the additive manufacturer, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
Per the agreement, the two companies will combine the expertise in engineering and manufacturing skills to transform the way products are brought to the market in highly regulated industries like energy, aerospace and healthcare. Baker Hughes intends to integrate Oqton’s Manufacturing Operating System into its proprietary applications creating an enhanced additive manufacturing platform that will accelerate innovation in energy sector.
During the March-ended quarter, 3D Systems reported revenues of $121.2 million, which declined 8.8% from the year-ago quarter. The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $134.3 million, suggesting a 4% decrease from the year-ago quarter’s $140.1 million.
Zacks Rank & Key Pick
Currently, 3D Systems, TE Connectivity and Baker Hughes carry a Zacks Rank #3 (Hold) each. Shares of DDD, TEL and BKR have gained 9.1%, 24.4% and 27.2%, respectively, over the past year.
A better-ranked stock from the broader Computer and Technology sector is Salesforce CRM, sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Salesforce’s second-quarter fiscal 2024 earnings has been revised northward by a penny to $1.90 per share over the past 30 days. For fiscal 2024, earnings estimates have moved up by 2 cents to $7.44 in the past 30 days.
CRM's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 15.5%. Shares of the company have gained 35.3% in the past year.
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3D Systems Corporation (DDD) : Free Stock Analysis Report
Baker Hughes Company (BKR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD recently announced that it has collaborated with Munich-headquartered Oerlikon AM to scale metal additive manufacturing (AM). DDD’s Application Innovation Group and Oerlikon AM’s Application Engineering teams jointly developed this solution to produce high-criticality parts with lower lifecycle costs. In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan.
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Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently announced that it has collaborated with Munich-headquartered Oerlikon AM to scale metal additive manufacturing (AM). DDD’s Application Innovation Group and Oerlikon AM’s Application Engineering teams jointly developed this solution to produce high-criticality parts with lower lifecycle costs.
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Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently announced that it has collaborated with Munich-headquartered Oerlikon AM to scale metal additive manufacturing (AM). DDD’s Application Innovation Group and Oerlikon AM’s Application Engineering teams jointly developed this solution to produce high-criticality parts with lower lifecycle costs.
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3D Systems DDD recently announced that it has collaborated with Munich-headquartered Oerlikon AM to scale metal additive manufacturing (AM). DDD’s Application Innovation Group and Oerlikon AM’s Application Engineering teams jointly developed this solution to produce high-criticality parts with lower lifecycle costs. In June, DDD and SWANY Co., Ltd. collaborated to promote large-format pellet extrusion 3D printing adoption in Japan.
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be53e0e6-c62c-4d5d-916b-dc1b1a259c92
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716420.0
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2023-07-04 00:00:00 UTC
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Validea's Top 5 Industrial Stocks Based On Joel Greenblatt - 7/4/2023
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DDD
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https://www.nasdaq.com/articles/valideas-top-5-industrial-stocks-based-on-joel-greenblatt-7-4-2023
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nan
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nan
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The following are the top rated Industrial stocks according to Validea's Earnings Yield Investor model based on the published strategy of Joel Greenblatt. This value model looks for companies with high return on capital and earnings yields.
HERITAGE-CRYSTAL CLEAN, INC. (HCCI) is a small-cap value stock in the Waste Management Services industry. The rating according to our strategy based on Joel Greenblatt is 10% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Heritage-Crystal Clean, Inc. provides parts cleaning, used oil re-refining, hazardous and non-hazardous waste disposal, emergency and spill response, and industrial and field services. The Company's segments include Environmental Services, Oil Business, and Industrial and Field Services. Environmental Services consists of the Company's parts cleaning, containerized hazardous and non-hazardous waste collection and hazardous waste disposal, wastewater vacuum, and antifreeze recycling activities. Oil Business consists of the Company's used oil collection, recycled fuel oil sales, used oil re-refining activities, and used oil filter removal and disposal services. It is engaged in the sale of re-refined base oil, re-refinery co-products, and recycled fuel oil. Industrial and Field Services consist of the Company's industrial and field services and non-hazardous waste processing and include industrial and field services, emergency and spill response and processing of non-hazardous waste.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD: NEUTRAL
RETURN ON TANGIBLE CAPITAL: NEUTRAL
FINAL RANKING: FAIL
Detailed Analysis of HERITAGE-CRYSTAL CLEAN, INC.
HCCI Guru Analysis
HCCI Fundamental Analysis
3D SYSTEMS CORP (DDD) is a small-cap value stock in the Computer Hardware industry. The rating according to our strategy based on Joel Greenblatt is 0% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: 3D Systems Corporation is an additive manufacturing solutions company. The Company is engaged in providing three-dimensional (3D) printing and digital manufacturing solutions, including 3D printers for plastics and metals, materials, software, and digital design tools. The Company's segments include Healthcare Solutions and Industrial Solutions. Healthcare Solutions includes dental, medical devices, personalized health services and regenerative medicine. Industrial Solutions includes aerospace, defense, transportation and general manufacturing. The Company offers a range of 3D printing technologies, including Stereolithography (SLA), Selective Laser Sintering, Direct Metal Printing, MultiJet Printing, ColorJet Printing, polymer extrusion, and extrusion and SLA based bioprinting. The Company markets its products and services through subsidiaries in North America and South America, Europe and the Middle East and the Asia Pacific and Oceania region.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of 3D SYSTEMS CORP
DDD Guru Analysis
DDD Fundamental Analysis
UNION PACIFIC CORP (UNP) is a large-cap growth stock in the Railroads industry. The rating according to our strategy based on Joel Greenblatt is 0% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Union Pacific Corporation is a railroad operating company in the United States. The Company operates through its principal operating company, Union Pacific Railroad Company (UPRR). It connects 23 states in the western two-thirds of the country and maintains coordinated schedules with other rail carriers to move freight to and from the Atlantic Coast, the Pacific Coast, the Southeast, the Southwest, Canada, and Mexico. Its Railroad's diversified business mix includes Bulk, Industrial, and Premium. Its Bulk shipments consist of grain and grain products, fertilizer, food and refrigerated, and coal and renewables. Its Industrial shipments consist of several categories, including construction, industrial chemicals, plastics, forest products, specialized products, metals and ores, petroleum, liquid petroleum gases (LPG), soda ash, and sand. Its Premium shipments include finished automobiles, automotive parts, and merchandise in intermodal containers, both domestic and international.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD: NEUTRAL
RETURN ON TANGIBLE CAPITAL: NEUTRAL
FINAL RANKING: FAIL
Detailed Analysis of UNION PACIFIC CORP
UNP Guru Analysis
UNP Fundamental Analysis
ASTRONICS CORPORATION (ATRO) is a small-cap growth stock in the Aerospace & Defense industry. The rating according to our strategy based on Joel Greenblatt is 0% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Astronics Corporation is a provider of advanced technologies to the global aerospace, defense and electronics industries. The Company operates in two segments: Aerospace and Test Systems. The Aerospace segment designs and manufactures products for the global aerospace industry. Product lines include lighting and safety systems, electrical power generation, distribution and seat motion systems, aircraft structures, avionics products, systems certification, and other products. The Test Systems segment designs, develops, manufactures and maintains automated test systems that support the aerospace and defense, communications and mass transit industries as well as training and simulation devices for both commercial and military applications. The Company's products and services include electrical power generation and distribution systems, seat motion solutions, lighting and safety systems, avionics products, aircraft structures, systems certification, and automated test systems.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of ASTRONICS CORPORATION
ATRO Guru Analysis
ATRO Fundamental Analysis
FRANKLIN COVEY CO (FC) is a small-cap growth stock in the Schools industry. The rating according to our strategy based on Joel Greenblatt is 0% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Franklin Covey Co. is a global company focused on performance improvement. The Company's sales are primarily comprised of training and consulting services and its internal reporting and operating structure, which are organized around two divisions: Enterprise Division and Education Division. The Enterprise Division, which consists of its Direct Office and International Licensee segments. The Education Division, which is comprised of its Education practice. Its Direct Office segment includes its sales personnel that serve the United States and Canada; its international sales offices located in Japan, China, the United Kingdom, Australia, Germany, Switzerland, and Austria; its government services sales channel; and its book and audio sales. Its International Licensees segments consists of its international licensees. Its Education Practice segment includes its domestic and international Education practice operations. It is also focused on leasing operations, shipping and handling.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD: NEUTRAL
RETURN ON TANGIBLE CAPITAL: NEUTRAL
FINAL RANKING: FAIL
Detailed Analysis of FRANKLIN COVEY CO
FC Guru Analysis
FC Fundamental Analysis
Joel Greenblatt Portfolio
Top Joel Greenblatt Stocks
About Joel Greenblatt: In his 2005 bestseller The Little Book That Beats The Market, hedge fund manager Joel Greenblatt laid out a stunningly simple way to beat the market using two -- and only two -- fundamental variables. The "Magic Formula," as he called it, produced back-tested returns of 30.8 percent per year from 1988 through 2004, more than doubling the S&P 500's 12.4 percent return during that time. Greenblatt also produced exceptional returns as managing partner at Gotham Capital, a New York City-based hedge fund he founded. The firm averaged a remarkable 40 percent annualized return over more than two decades.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Detailed Analysis of HERITAGE-CRYSTAL CLEAN, INC. HCCI Guru Analysis HCCI Fundamental Analysis 3D SYSTEMS CORP (DDD) is a small-cap value stock in the Computer Hardware industry. Detailed Analysis of 3D SYSTEMS CORP DDD Guru Analysis DDD Fundamental Analysis UNION PACIFIC CORP (UNP) is a large-cap growth stock in the Railroads industry. The following are the top rated Industrial stocks according to Validea's Earnings Yield Investor model based on the published strategy of Joel Greenblatt.
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Detailed Analysis of HERITAGE-CRYSTAL CLEAN, INC. HCCI Guru Analysis HCCI Fundamental Analysis 3D SYSTEMS CORP (DDD) is a small-cap value stock in the Computer Hardware industry. Detailed Analysis of 3D SYSTEMS CORP DDD Guru Analysis DDD Fundamental Analysis UNION PACIFIC CORP (UNP) is a large-cap growth stock in the Railroads industry. Detailed Analysis of UNION PACIFIC CORP UNP Guru Analysis UNP Fundamental Analysis ASTRONICS CORPORATION (ATRO) is a small-cap growth stock in the Aerospace & Defense industry.
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Detailed Analysis of HERITAGE-CRYSTAL CLEAN, INC. HCCI Guru Analysis HCCI Fundamental Analysis 3D SYSTEMS CORP (DDD) is a small-cap value stock in the Computer Hardware industry. Detailed Analysis of 3D SYSTEMS CORP DDD Guru Analysis DDD Fundamental Analysis UNION PACIFIC CORP (UNP) is a large-cap growth stock in the Railroads industry. Industrial and Field Services consist of the Company's industrial and field services and non-hazardous waste processing and include industrial and field services, emergency and spill response and processing of non-hazardous waste.
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Detailed Analysis of HERITAGE-CRYSTAL CLEAN, INC. HCCI Guru Analysis HCCI Fundamental Analysis 3D SYSTEMS CORP (DDD) is a small-cap value stock in the Computer Hardware industry. Detailed Analysis of 3D SYSTEMS CORP DDD Guru Analysis DDD Fundamental Analysis UNION PACIFIC CORP (UNP) is a large-cap growth stock in the Railroads industry. The Company's segments include Environmental Services, Oil Business, and Industrial and Field Services.
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22fb8030-ce1f-4eda-b05a-3df08d80f6fe
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716421.0
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2023-06-27 00:00:00 UTC
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3D Systems Breaks Above 200-Day Moving Average - Bullish for DDD
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DDD
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https://www.nasdaq.com/articles/3d-systems-breaks-above-200-day-moving-average-bullish-for-ddd
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nan
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nan
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In trading on Tuesday, shares of 3D Systems Corp. (Symbol: DDD) crossed above their 200 day moving average of $9.32, changing hands as high as $9.81 per share. 3D Systems Corp. shares are currently trading up about 6.3% on the day. The chart below shows the one year performance of DDD shares, versus its 200 day moving average:
Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.5189 as the 52 week high point — that compares with a last trade of $9.73.
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
Also see:
Institutional Holders of SAMA
Top Ten Hedge Funds Holding ITM
Top Ten Hedge Funds Holding AEK
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of 3D Systems Corp. (Symbol: DDD) crossed above their 200 day moving average of $9.32, changing hands as high as $9.81 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.5189 as the 52 week high point — that compares with a last trade of $9.73. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » Also see: Institutional Holders of SAMA Top Ten Hedge Funds Holding ITM Top Ten Hedge Funds Holding AEK The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of 3D Systems Corp. (Symbol: DDD) crossed above their 200 day moving average of $9.32, changing hands as high as $9.81 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.5189 as the 52 week high point — that compares with a last trade of $9.73. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » Also see: Institutional Holders of SAMA Top Ten Hedge Funds Holding ITM Top Ten Hedge Funds Holding AEK The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of 3D Systems Corp. (Symbol: DDD) crossed above their 200 day moving average of $9.32, changing hands as high as $9.81 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.5189 as the 52 week high point — that compares with a last trade of $9.73. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » Also see: Institutional Holders of SAMA Top Ten Hedge Funds Holding ITM Top Ten Hedge Funds Holding AEK The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of 3D Systems Corp. (Symbol: DDD) crossed above their 200 day moving average of $9.32, changing hands as high as $9.81 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.5189 as the 52 week high point — that compares with a last trade of $9.73. 3D Systems Corp. shares are currently trading up about 6.3% on the day.
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34b28445-d65f-4ff3-967d-da5df77225c7
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716422.0
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2023-06-27 00:00:00 UTC
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Why Stratasys Stock Popped Again Today
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DDD
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https://www.nasdaq.com/articles/why-stratasys-stock-popped-again-today
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nan
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nan
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What happened
The 3D printer-maker Stratasys (NASDAQ: SSYS) remains in play -- and its stock is up another 8% as of 11:05 a.m. ET.
Nearly a month after 3D printer-making rival 3D Systems (NYSE: DDD) announced its interest in buying Stratasys (so that Nano Dimension (NASDAQ: NNDM) cannot buy Stratasys, and so that Stratasys does not buy Desktop Metal (NYSE: DM)) -- but Stratasys demurred -- 3D announced today that it is raising its bid for Stratasys.
So what
3D hopes it's making an offer too good for Stratasys to pass on. So what is 3D offering, exactly? Basically, more stock.
Back at the start of June, if you recall, 3D offered to pay $7.50 per in cash, and hand over 1.2507 3D Systems shares, in exchange for each share of Stratasys outstanding. Today, the cash component of 3D's offer remains unchanged, but the company is raising its equity offer to 1.3223 shares of 3D. And at 3D's current share price of $9.72, that works out to an additional $12.85 in value.
This makes 3D's total Stratasys worth $20.35 per share, in cash and stock.
Now what
Nano Dimension, by the way, isn't giving up this fight -- although it appears to be losing the bidding war. No sooner had 3D raised its offer than Nano Dimension raised its own offer to $20.05 per share, from a previous bid of $18. Not only is this a lower bid than what 3D is offering, though (albeit it would be paid all in cash), but Nano Dimension isn't even offering to buy all of Stratasys, but only somewhere between 31.9% and 36.9% of the shares outstanding. (Nano Dimension's goal, you see, is simply to obtain majority ownership of Stratasys -- without necessarily buying the whole company).
Stratasys's board says it will consider 3D's new offer (and presumably, Nano Dimension's as well). But at last report, Stratasys wasn't keen on the idea of anybody owning it, and preferred to do the buying itself -- hence the interest in Desktop Metal.
Investors, however, seem to clearly prefer 3D's offer. Not only is Stratasys stock up strongly today, but 3D Systems' stock is up a solid 7%. Whether Stratasys's management will bow to the evident will of its shareholders, however, remains to be seen.
10 stocks we like better than Stratasys
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends 3d Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Nearly a month after 3D printer-making rival 3D Systems (NYSE: DDD) announced its interest in buying Stratasys (so that Nano Dimension (NASDAQ: NNDM) cannot buy Stratasys, and so that Stratasys does not buy Desktop Metal (NYSE: DM)) -- but Stratasys demurred -- 3D announced today that it is raising its bid for Stratasys. (Nano Dimension's goal, you see, is simply to obtain majority ownership of Stratasys -- without necessarily buying the whole company). But at last report, Stratasys wasn't keen on the idea of anybody owning it, and preferred to do the buying itself -- hence the interest in Desktop Metal.
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Nearly a month after 3D printer-making rival 3D Systems (NYSE: DDD) announced its interest in buying Stratasys (so that Nano Dimension (NASDAQ: NNDM) cannot buy Stratasys, and so that Stratasys does not buy Desktop Metal (NYSE: DM)) -- but Stratasys demurred -- 3D announced today that it is raising its bid for Stratasys. Not only is this a lower bid than what 3D is offering, though (albeit it would be paid all in cash), but Nano Dimension isn't even offering to buy all of Stratasys, but only somewhere between 31.9% and 36.9% of the shares outstanding. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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Nearly a month after 3D printer-making rival 3D Systems (NYSE: DDD) announced its interest in buying Stratasys (so that Nano Dimension (NASDAQ: NNDM) cannot buy Stratasys, and so that Stratasys does not buy Desktop Metal (NYSE: DM)) -- but Stratasys demurred -- 3D announced today that it is raising its bid for Stratasys. Not only is this a lower bid than what 3D is offering, though (albeit it would be paid all in cash), but Nano Dimension isn't even offering to buy all of Stratasys, but only somewhere between 31.9% and 36.9% of the shares outstanding. Not only is Stratasys stock up strongly today, but 3D Systems' stock is up a solid 7%.
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Nearly a month after 3D printer-making rival 3D Systems (NYSE: DDD) announced its interest in buying Stratasys (so that Nano Dimension (NASDAQ: NNDM) cannot buy Stratasys, and so that Stratasys does not buy Desktop Metal (NYSE: DM)) -- but Stratasys demurred -- 3D announced today that it is raising its bid for Stratasys. Not only is this a lower bid than what 3D is offering, though (albeit it would be paid all in cash), but Nano Dimension isn't even offering to buy all of Stratasys, but only somewhere between 31.9% and 36.9% of the shares outstanding. That's right -- they think these 10 stocks are even better buys.
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30889e32-a976-4fed-a929-cbe0942973af
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716423.0
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2023-06-27 00:00:00 UTC
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Technology Sector Update for 06/27/2023: SSYS, DDD, SNOW, NVDA, AIXI, XLK, SOXX
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DDD
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https://www.nasdaq.com/articles/technology-sector-update-for-06-27-2023%3A-ssys-ddd-snow-nvda-aixi-xlk-soxx
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nan
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nan
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Technology stocks were advancing premarket Tuesday, with the Technology Select Sector SPDR Fund (XLK) and the iShares Semiconductor ETF (SOXX) both up 0.4%.
3D Systems (DDD) said it has improved its proposal to merge with Stratasys (SSYS) in a cash-and-stock transaction. The revised proposal would convert each of Stratasys' ordinary shares into $7.50 in cash and about 1.32 newly issued common shares of 3D Systems, the company said. Stratasys' stock was over 9% higher in recent Tuesday premarket activity while 3D Systems was up 1.7%.
Snowflake (SNOW) was up nearly 4% after the company and Nvidia (NVDA) said overnight they are collaborating to create customized generative artificial intelligence applications for businesses.
Xiao-I (AIXI) said it plans to release its Large Language Model on Thursday. The company's shares were over 3% higher in recent Tuesday premarket activity.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (DDD) said it has improved its proposal to merge with Stratasys (SSYS) in a cash-and-stock transaction. Stratasys' stock was over 9% higher in recent Tuesday premarket activity while 3D Systems was up 1.7%. Snowflake (SNOW) was up nearly 4% after the company and Nvidia (NVDA) said overnight they are collaborating to create customized generative artificial intelligence applications for businesses.
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3D Systems (DDD) said it has improved its proposal to merge with Stratasys (SSYS) in a cash-and-stock transaction. Technology stocks were advancing premarket Tuesday, with the Technology Select Sector SPDR Fund (XLK) and the iShares Semiconductor ETF (SOXX) both up 0.4%. Stratasys' stock was over 9% higher in recent Tuesday premarket activity while 3D Systems was up 1.7%.
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3D Systems (DDD) said it has improved its proposal to merge with Stratasys (SSYS) in a cash-and-stock transaction. The revised proposal would convert each of Stratasys' ordinary shares into $7.50 in cash and about 1.32 newly issued common shares of 3D Systems, the company said. Stratasys' stock was over 9% higher in recent Tuesday premarket activity while 3D Systems was up 1.7%.
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3D Systems (DDD) said it has improved its proposal to merge with Stratasys (SSYS) in a cash-and-stock transaction. The revised proposal would convert each of Stratasys' ordinary shares into $7.50 in cash and about 1.32 newly issued common shares of 3D Systems, the company said. Stratasys' stock was over 9% higher in recent Tuesday premarket activity while 3D Systems was up 1.7%.
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fc795c47-794c-4a9e-ba47-db5978f8f7ae
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716424.0
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2023-06-27 00:00:00 UTC
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These 2 Stocks Show Merger Mania Isn't Just for Mondays
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DDD
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https://www.nasdaq.com/articles/these-2-stocks-show-merger-mania-isnt-just-for-mondays
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nan
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nan
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Most people do their best not to do too much work on the weekends. But in the investment banking world, the best time to finalize potential mergers or acquisitions is over the weekend, as markets aren't open and companies don't have to worry about the potential for leaked information to cause an immediate spike in share prices. Indeed, one reason there are many references to "Merger Monday" is that the weekend efforts of mergers and acquisitions professionals so often bear fruit by the beginning of the work week.
Yet mergers don't have to take place on Monday, and a couple of stocks are proving that point early Tuesday. Both American Equity Investment Life Holding (NYSE: AEL) and Stratasys (NASDAQ: SSYS) are seeing their shares move sharply higher after getting buyout interest from prospective acquirers, and shareholders seem excited about the prospects. Below, you'll get more details on what the companies have announced about their acquisitions.
Brookfield makes its move for American Equity Investment Life
Shares of American Equity Investment Life were up 17% in Tuesday-morning trading. The provider of insurance products got a buyout bid from Brookfield Reinsurance (NYSE: BNRE) in a bid that will, if accepted, further the trend toward consolidation in the insurance industry.
American Equity acknowledged that it had received Brookfield Re's acquisition proposal, outlining its terms. Under the deal, Brookfield Re would pay $38.85 per share in cash as well as shares of Brookfield Asset Management (NYSE: BAM) that would bring the total value to $55 per share based on recent stock prices. A collar arrangement would potentially result in variations in the number of Brookfield Asset Management shares issued to American Equity shareholders, but the total value would be between $54 and $56.50 per share at the closing of the transaction.
For its part, American Equity said it would review the proposal but offer no further comment until that review is complete. The life insurance and annuity company emphasized that shareholders shouldn't assume that the two entities will be able to reach a final agreement. Interestingly, the move comes less than a year after Brookfield Re CEO Sachin Shah resigned from the American Equity board due to disagreements about its strategic direction.
This isn't the first offer that American Equity has received, as it rejected a $4 billion bid from private equity company Elliott Management earlier this year. With this bid valuing American Equity at $4.3 billion, there's a somewhat greater chance of its going through, but shareholders shouldn't count it as a done deal at this point.
3D-printing stocks seek to combine forces
Elsewhere, shares of Stratasys climbed 7%. The 3D printing company has already been the subject of takeover efforts, but it now finds itself in a bidding war of sorts.
Stratasys said early Tuesday that it had received a revised acquisition proposal from 3D Systems (NYSE: DDD). The new terms involve paying Stratasys $7.50 per share in cash and also receiving 1.3223 shares of 3D Systems stock per share. Based on 3D Systems' recent share price, that works out to a total value of between $19.50 and $20 per Stratasys share.
Meanwhile, Nano Dimension (NASDAQ: NNDM) has looked to solicit responses to a tender offer, as it aims to buy a minority stake in Stratasys. Nano also changed its terms on Tuesday, boosting its price to $20.05 per share from $18 but reducing the portion of the company it wants to purchase to a stake of between 31.9% and 36.9% of outstanding shares. Stratasys had urged shareholders not to accept the previous Nano tender offer, as it would have given Nano enough total shares for effective control of the company while failing to offer a full merger to remaining minority shareholders.
Shares of Stratasys and its peers remain well below their best levels in the mid-2010s, and consolidation likely makes sense. Combining 3D Systems and Stratasys has seemed like a natural move for years, and it'll be interesting to see if the two companies make any progress toward finalizing a deal.
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Dan Caplinger has positions in Brookfield Asset Management and Brookfield Reinsurance. The Motley Fool has positions in and recommends Brookfield Asset Management and Brookfield Reinsurance. The Motley Fool recommends 3d Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stratasys said early Tuesday that it had received a revised acquisition proposal from 3D Systems (NYSE: DDD). The life insurance and annuity company emphasized that shareholders shouldn't assume that the two entities will be able to reach a final agreement. Interestingly, the move comes less than a year after Brookfield Re CEO Sachin Shah resigned from the American Equity board due to disagreements about its strategic direction.
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Stratasys said early Tuesday that it had received a revised acquisition proposal from 3D Systems (NYSE: DDD). Brookfield makes its move for American Equity Investment Life Shares of American Equity Investment Life were up 17% in Tuesday-morning trading. The new terms involve paying Stratasys $7.50 per share in cash and also receiving 1.3223 shares of 3D Systems stock per share.
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Stratasys said early Tuesday that it had received a revised acquisition proposal from 3D Systems (NYSE: DDD). Brookfield makes its move for American Equity Investment Life Shares of American Equity Investment Life were up 17% in Tuesday-morning trading. Under the deal, Brookfield Re would pay $38.85 per share in cash as well as shares of Brookfield Asset Management (NYSE: BAM) that would bring the total value to $55 per share based on recent stock prices.
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Stratasys said early Tuesday that it had received a revised acquisition proposal from 3D Systems (NYSE: DDD). Brookfield makes its move for American Equity Investment Life Shares of American Equity Investment Life were up 17% in Tuesday-morning trading. The new terms involve paying Stratasys $7.50 per share in cash and also receiving 1.3223 shares of 3D Systems stock per share.
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e19416e4-10db-4726-bce8-1f1589473830
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716425.0
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2023-06-27 00:00:00 UTC
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Stratasys Gains In Pre-market After Receiving Sweetened Offer From 3D Systems
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DDD
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https://www.nasdaq.com/articles/stratasys-gains-in-pre-market-after-receiving-sweetened-offer-from-3d-systems
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nan
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nan
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(RTTNews) - 3D polymer printing company Stratasys Ltd. (SSYS) on Tuesday said that it has received a revised proposal from 3D Systems Corp. (DDD) to acquire Stratasys for $7.50 in cash and 1.3223 newly issued shares of 3D Systems per common share of Stratasys.
3D System's original bid on May 30 2023 was for $7.50 in cash and 1.2507 newly issued shares per ordinary share.
The Stratasys board is reviewing the proposal and has made no further comments.
In a separate announcement, Stratasys said that its board has not changed its approval to merge with Desktop Metal, Inc. (DM) in an all-stock transaction valued at approximately $1.8 billion.
In pre-market activity, shares of Stratasys are trading at $17.80 up 9.74% or $1.58 on the Nasdaq. Shares of Desktop Metal are trading at $1.84 down by 0.98% on the New York Stock Exchange. Shares of 3D systems closed at $9.25 up 1.65% on the New York Stock exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - 3D polymer printing company Stratasys Ltd. (SSYS) on Tuesday said that it has received a revised proposal from 3D Systems Corp. (DDD) to acquire Stratasys for $7.50 in cash and 1.3223 newly issued shares of 3D Systems per common share of Stratasys. In a separate announcement, Stratasys said that its board has not changed its approval to merge with Desktop Metal, Inc. (DM) in an all-stock transaction valued at approximately $1.8 billion. Shares of Desktop Metal are trading at $1.84 down by 0.98% on the New York Stock Exchange.
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(RTTNews) - 3D polymer printing company Stratasys Ltd. (SSYS) on Tuesday said that it has received a revised proposal from 3D Systems Corp. (DDD) to acquire Stratasys for $7.50 in cash and 1.3223 newly issued shares of 3D Systems per common share of Stratasys. 3D System's original bid on May 30 2023 was for $7.50 in cash and 1.2507 newly issued shares per ordinary share. Shares of Desktop Metal are trading at $1.84 down by 0.98% on the New York Stock Exchange.
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(RTTNews) - 3D polymer printing company Stratasys Ltd. (SSYS) on Tuesday said that it has received a revised proposal from 3D Systems Corp. (DDD) to acquire Stratasys for $7.50 in cash and 1.3223 newly issued shares of 3D Systems per common share of Stratasys. 3D System's original bid on May 30 2023 was for $7.50 in cash and 1.2507 newly issued shares per ordinary share. In pre-market activity, shares of Stratasys are trading at $17.80 up 9.74% or $1.58 on the Nasdaq.
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(RTTNews) - 3D polymer printing company Stratasys Ltd. (SSYS) on Tuesday said that it has received a revised proposal from 3D Systems Corp. (DDD) to acquire Stratasys for $7.50 in cash and 1.3223 newly issued shares of 3D Systems per common share of Stratasys. Shares of Desktop Metal are trading at $1.84 down by 0.98% on the New York Stock Exchange. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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9b9b6715-3882-4a43-b4a4-19e2171c140f
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716426.0
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2023-06-21 00:00:00 UTC
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Commit To Purchase 3D Systems At $5, Earn 12% Using Options
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DDD
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https://www.nasdaq.com/articles/commit-to-purchase-3d-systems-at-%245-earn-12-using-options
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nan
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Investors considering a purchase of 3D Systems Corp. (Symbol: DDD) stock, but tentative about paying the going market price of $9.42/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the January 2025 put at the $5 strike, which has a bid at the time of this writing of 60 cents. Collecting that bid as the premium represents a 12% return against the $5 commitment, or a 7.6% annualized rate of return (at Stock Options Channel we call this the YieldBoost).
Selling a put does not give an investor access to DDD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. And the person on the other side of the contract would only benefit from exercising at the $5 strike if doing so produced a better outcome than selling at the going market price. (Do options carry counterparty risk? This and six other common options myths debunked). So unless 3D Systems Corp. sees its shares fall 46.3% and the contract is exercised (resulting in a cost basis of $4.40 per share before broker commissions, subtracting the 60 cents from $5), the only upside to the put seller is from collecting that premium for the 7.6% annualized rate of return.
Below is a chart showing the trailing twelve month trading history for 3D Systems Corp., and highlighting in green where the $5 strike is located relative to that history:
The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the January 2025 put at the $5 strike for the 7.6% annualized rate of return represents good reward for the risks. We calculate the trailing twelve month volatility for 3D Systems Corp. (considering the last 251 trading day closing values as well as today's price of $9.42) to be 61%. For other put options contract ideas at the various different available expirations, visit the DDD Stock Options page of StockOptionsChannel.com.
In mid-afternoon trading on Wednesday, the put volume among S&P 500 components was 1.91M contracts, with call volume at 1.91M, for a put:call ratio of 0.74 so far for the day, which is above normal compared to the long-term median put:call ratio of .65. In other words, if we look at the number of call buyers and then use the long-term median to project the number of put buyers we'd expect to see, we're actually seeing more put buyers than expected out there in options trading so far today. Find out which 15 call and put options traders are talking about today.
Top YieldBoost Puts of the S&P 500 »
Also see:
NIQ Insider Buying
RMTI YTD Return
BOJA shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors considering a purchase of 3D Systems Corp. (Symbol: DDD) stock, but tentative about paying the going market price of $9.42/share, might benefit from considering selling puts among the alternative strategies at their disposal. Selling a put does not give an investor access to DDD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. For other put options contract ideas at the various different available expirations, visit the DDD Stock Options page of StockOptionsChannel.com.
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Investors considering a purchase of 3D Systems Corp. (Symbol: DDD) stock, but tentative about paying the going market price of $9.42/share, might benefit from considering selling puts among the alternative strategies at their disposal. Selling a put does not give an investor access to DDD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. For other put options contract ideas at the various different available expirations, visit the DDD Stock Options page of StockOptionsChannel.com.
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Investors considering a purchase of 3D Systems Corp. (Symbol: DDD) stock, but tentative about paying the going market price of $9.42/share, might benefit from considering selling puts among the alternative strategies at their disposal. Selling a put does not give an investor access to DDD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. For other put options contract ideas at the various different available expirations, visit the DDD Stock Options page of StockOptionsChannel.com.
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Investors considering a purchase of 3D Systems Corp. (Symbol: DDD) stock, but tentative about paying the going market price of $9.42/share, might benefit from considering selling puts among the alternative strategies at their disposal. Selling a put does not give an investor access to DDD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. For other put options contract ideas at the various different available expirations, visit the DDD Stock Options page of StockOptionsChannel.com.
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f4767dc5-68d9-4750-8240-12402ccb79ca
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716427.0
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2023-06-20 00:00:00 UTC
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3D Systems (DDD), SWANY Team Up for Pellet Printing Technology
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-swany-team-up-for-pellet-printing-technology
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nan
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nan
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3D Systems DDD announced that it has collaborated with SWANY Co., Ltd. to promote large-format pellet extrusion 3D printing adoption in Japan.
SWANY is planning to open a new demo center with 3D Systems EXT 1070 Titan Pellet printer (formerly, Titan Atlas 2.5 HS) in October 2023. Together, the companies will showcase high-throughput production capabilities by enabling efficient additive and subtractive production of large-format parts. SWANY will provide 3D printing services like design support to the Asia-Pacific region to facilitate prototyping and production for a variety of applications.
Further, 3D Systems and SWANY will jointly develop print parameters to enable the use of additional mass production and recycled pellet materials for sustainable manufacturing with UCWS; Upcycling Workspace.
The EXT 1070 Titan Pellet is a large-format and high-speed industrial production system utilizing low-cost thermoplastic pellet feedstocks. It is a proven production additive manufacturing system for applications including patterns, molds, tooling, jigs, fixtures, end-use parts and full-scale prototypes. Built with a welded steel frame and an industrial actively heated enclosure, the 3D Systems EXT 1070 produces functional and high-performance parts on the factory floor. The modular toolhead system enables customers to add a second pellet extruder, filament printing capability and/or computerized numerical control milling functionality either with initial machine purchase or after.
The 3D Systems EXT Titan 1070 pellet printer will enable SWANY to efficiently produce large-scale parts, such as large-scale patterns, molds, production batch runs and functional prototypes, for its customers with manufacturing-level accuracy, surface quality and repeatability. The EXT Titan Pellet printers’ global install base includes companies in industries like automotive, aerospace, foundries, consumer products and general manufacturing. The printers offer up to 10 times reduction in material cost and a wider range of functional materials than traditional filament-based 3D printers.
DDD is anticipating material science to be a key driver in the transition to 3D production. It is investing large sums in material innovation across its portfolio to capitalize on this trend. Going forward, it expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
In May, an Ohio-based contract manufacturer, The Technology House, purchased SLA 750 from the company to enhance manufacturing workflow. In the same month, MolyWorks, a California-based developer of the circular economy for metal, integrated the company’s direct metal printing solution, Flex 350, into its manufacturing workflow.
In April, the company revealed that the University Hospital of Salzburg in Austria has successfully implemented 3D Systems’ Kumovis R1 printer and its subsidiary, Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need.
In March, DDD collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
Designed under the partnership of the company’s Application Innovation Group and TE Connectivity’s team to meet TEL’s material performance and high tolerance requirements, the newly developed solution leverages 3D Systems’ Figure 4 Modular, Figure 4 material and 3D Sprint software solution & services. The solution is the first known printable photopolymer to complete a UL1-recognized long-term thermal aging study.
Oqton, a wholly-owned and independently operated subsidiary of the additive manufacturer, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
Per the agreement, the two companies will combine the expertise in engineering and manufacturing skills to transform the way products are brought to the market in highly regulated industries like energy, aerospace and healthcare. Baker Hughes intends to integrate Oqton’s Manufacturing Operating System into its proprietary applications creating an enhanced additive manufacturing platform that will accelerate innovation in energy sector.
For the March-ended quarter, 3D Systems reported revenues of $121.2 million, which declined 8.8% from the year-ago quarter. The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $134.3 million, suggesting a 4% decrease from the year-ago quarter’s $140.1 million.
Zacks Rank & Key Pick
Currently, 3D Systems, TE Connectivity and Baker Hughes carry a Zacks Rank #3 (Hold) each. While shares of DDD have lost 3.4% over the past year, shares of TEL and BKR have gained 17.4% and 2%, respectively, during the same time frame.
A better-ranked stock from the broader Computer and Technology sector is Meta Platforms META, sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Meta Platforms' second-quarter 2023 earnings has been revised downward by 5 cents to $2.82 per share over the past 30 days. For 2023, earnings estimates have moved north by a penny to $11.94 in the past seven days.
META’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average surprise being 15.5%. Shares of the company have climbed 71.6% in the past year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD announced that it has collaborated with SWANY Co., Ltd. to promote large-format pellet extrusion 3D printing adoption in Japan. DDD is anticipating material science to be a key driver in the transition to 3D production. In March, DDD collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
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Click to get this free report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD announced that it has collaborated with SWANY Co., Ltd. to promote large-format pellet extrusion 3D printing adoption in Japan. DDD is anticipating material science to be a key driver in the transition to 3D production.
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Click to get this free report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD announced that it has collaborated with SWANY Co., Ltd. to promote large-format pellet extrusion 3D printing adoption in Japan. DDD is anticipating material science to be a key driver in the transition to 3D production.
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3D Systems DDD announced that it has collaborated with SWANY Co., Ltd. to promote large-format pellet extrusion 3D printing adoption in Japan. DDD is anticipating material science to be a key driver in the transition to 3D production. In March, DDD collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
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94ca621f-a633-4e3b-9fc6-87a3e894ca1d
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716428.0
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2023-06-08 00:00:00 UTC
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Is Stratasys' Deal for Desktop Metal Bad News for Investors?
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DDD
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https://www.nasdaq.com/articles/is-stratasys-deal-for-desktop-metal-bad-news-for-investors
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nan
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nan
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Something strange is stirring at Stratasys (NASDAQ: SSYS) -- and it's coming to a boil.
Roughly three months ago, its smaller competitor in the field of 3D printing, Nano Dimension (NASDAQ: NNDM), made an offer to acquire the roughly 86% of Stratasys' shares that it did not already own, at $18 per share. Two weeks later, Stratasys' board of directors rejected this offer, prompting Nano to raise its bid -- first to $19.55 per share, then a week later to $20.05.
These offers were also rejected, so Nano launched a hostile takeover bid, presenting Stratasys' shareholders with the original offer of $18, hoping enough shares were tendered to give Nano a 53% controlling stake.
This end-run around Stratasys' board prompted it to change its strategy as well. On May 25, the company announced that instead of selling itself to Nano, either in whole or in part, it intended to make an acquisition of its own.
In a $1.8 billion all-stock transaction that valued its own shares at only $15.26, Stratasys proposed to acquire Desktop Metal (NYSE: DM), another maker of 3D printers. Stratasys would give 0.123 shares of its own stock for each outstanding share of Desktop Metal, thereby absorbing its rival.
Another dimension
As if all the above weren't already complicated enough, last week a fourth maker of 3D printers decided to get in the mix. Offering what it termed a "superior proposal" to any of the plans already floated, 3D Systems (NYSE: DDD) -- roughly the same size as Stratasys, so twice the size of either Desktop Metal or Nano -- suggested that Stratasys should merge with it to create what it called a leading pure-play 3D printing company "with unmatched scale and highly attractive financial profile."
3D Systems noted that its offer -- $7.50 in cash and 1.2507 shares of its stock for each share of Stratasys -- was worth about $19 per share in total, more than the $18 offered in Nano's hostile takeover, and much more than the $15.26 in Stratasys' offer to buy Desktop Metal.
3D's offer was apparently better enough than everything else on the table right now, that it helped to drive Stratasys shares 11% higher when it was announced on Friday, while lifting 3D Systems as well.
Crunching the numbers
What has investors so excited about all the merger & acquisition offers surrounding Stratasys? And should they be excited at all?
Well, consider that when reporting earnings in May, Stratasys said it was on track to do $1 billion in sales in 2026, more than a 50% increase from the $650 million or so in sales it expects to do this year.
If Stratasys acquires Desktop Metal, however, it thinks it can hit that goal even faster. Management forecast $1.1 billion in sales by 2025 when announcing its deal, and that makes sense, since Desktop Metal would bring about $200 million in annual sales.
Stratasys management further argued that combining with Desktop Metal would help cut $50 million in annual costs, and grow revenue by $50 million more through synergies between the two companies. And that would enable the company to earn positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by 2025.
But 3D Systems says Stratasys could do even better than that. 3D predicted that by combining with it rather than with Desktop Metal, Stratasys investors could look forward to:
Combined sales of $1.3 billion by 2024 ($100 million more than the Desktop Metal merger, and one year sooner).
$100 million in cost savings on that revenue.
$121 million in positive free cash flow (FCF) from the combined company in 2024 -- more than twice the real cash profit either of these companies has generated in a single year, according to data from S&P Global Market Intelligence.
What it means for investors
3D's argument seems a whole lot more sound than Stratasys'. Consider that Stratasys' promise to grow revenue 50% in three years all on its own never seemed particularly realistic. For one thing, most analysts who follow the company are forecasting only about 10% sales growth over the next couple of years. For another, Stratasys' sales actually declined in each of the last two quarters.
Absorbing Desktop Metal, as Stratasys management still intends, would help the company toward its goal by giving Stratasys a quick one-time $200 million bump in revenue. And Desktop Metal is expected to grow its sales faster than Stratasys over the next couple of years. Just going off analyst projections, therefore, a Stratasys-Desktop Metal merger does look likely to achieve the companies' $1.1 billion target by 2025.
But by merging Stratasys with 3D Systems, the combined companies would be doing nearly $1.2 billion already today, and potentially $1.4 billion by 2025. And if 3D's predictions that the two combined companies could grow revenue at 21% annually over the next five to seven years are correct, it's not unforeseeable that by 2030, this new 3D printing giant could be doing $3.6 billion or more in sales annually.
When you also consider that 3D is promising these sales will be profitable, generating a FCF margin of perhaps 9% or better, this implies FCF could more than triple in the five years post-merger.
From where I sit, this sounds like the better deal for Stratasys shareholders -- and for 3D Systems shareholders as well.
10 stocks we like better than Stratasys
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Stratasys wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends 3d Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Offering what it termed a "superior proposal" to any of the plans already floated, 3D Systems (NYSE: DDD) -- roughly the same size as Stratasys, so twice the size of either Desktop Metal or Nano -- suggested that Stratasys should merge with it to create what it called a leading pure-play 3D printing company "with unmatched scale and highly attractive financial profile." In a $1.8 billion all-stock transaction that valued its own shares at only $15.26, Stratasys proposed to acquire Desktop Metal (NYSE: DM), another maker of 3D printers. 3D's offer was apparently better enough than everything else on the table right now, that it helped to drive Stratasys shares 11% higher when it was announced on Friday, while lifting 3D Systems as well.
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Offering what it termed a "superior proposal" to any of the plans already floated, 3D Systems (NYSE: DDD) -- roughly the same size as Stratasys, so twice the size of either Desktop Metal or Nano -- suggested that Stratasys should merge with it to create what it called a leading pure-play 3D printing company "with unmatched scale and highly attractive financial profile." Management forecast $1.1 billion in sales by 2025 when announcing its deal, and that makes sense, since Desktop Metal would bring about $200 million in annual sales. Stratasys management further argued that combining with Desktop Metal would help cut $50 million in annual costs, and grow revenue by $50 million more through synergies between the two companies.
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Offering what it termed a "superior proposal" to any of the plans already floated, 3D Systems (NYSE: DDD) -- roughly the same size as Stratasys, so twice the size of either Desktop Metal or Nano -- suggested that Stratasys should merge with it to create what it called a leading pure-play 3D printing company "with unmatched scale and highly attractive financial profile." 3D Systems noted that its offer -- $7.50 in cash and 1.2507 shares of its stock for each share of Stratasys -- was worth about $19 per share in total, more than the $18 offered in Nano's hostile takeover, and much more than the $15.26 in Stratasys' offer to buy Desktop Metal. 3D predicted that by combining with it rather than with Desktop Metal, Stratasys investors could look forward to: Combined sales of $1.3 billion by 2024 ($100 million more than the Desktop Metal merger, and one year sooner).
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Offering what it termed a "superior proposal" to any of the plans already floated, 3D Systems (NYSE: DDD) -- roughly the same size as Stratasys, so twice the size of either Desktop Metal or Nano -- suggested that Stratasys should merge with it to create what it called a leading pure-play 3D printing company "with unmatched scale and highly attractive financial profile." 3D Systems noted that its offer -- $7.50 in cash and 1.2507 shares of its stock for each share of Stratasys -- was worth about $19 per share in total, more than the $18 offered in Nano's hostile takeover, and much more than the $15.26 in Stratasys' offer to buy Desktop Metal. Management forecast $1.1 billion in sales by 2025 when announcing its deal, and that makes sense, since Desktop Metal would bring about $200 million in annual sales.
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e5e0427a-7e12-47b5-8b17-a0ad99de7e2b
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716429.0
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2023-06-07 00:00:00 UTC
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3D Systems (DDD) Up 15.4% Since Last Earnings Report: Can It Continue?
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-up-15.4-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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A month has gone by since the last earnings report for 3D Systems (DDD). Shares have added about 15.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is 3D Systems due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
3D Systems Q1 Loss Wider Than Expected, Sales Down Y/Y
3D Systems reported first-quarter 2023 non-GAAP loss of 9 cents per share, wider than the Zacks Consensus Estimate of a loss of 8 cents. The bottom line came in wider than the prior-year quarter’s loss of 6 cents per share.
In the first quarter of 2023, 3D Systems reported revenues of $121.2 million, down 8.8% from the year-ago quarter, which missed the consensus mark of $130.4 million. Excluding the impact of business divestments in 2023 and on a constant currency basis, revenues decreased 6.5% year over year.
3D Systems’ first-quarter performance reflected impacts of inflationary pressure and foreign exchange risks, among other ongoing macroeconomic constraints.
Q1 in Detail
In the first quarter, product revenues represented 69.6% of the total revenues and decreased 16.1% to $84.4 million. Revenues from Services, which accounted for 30.4% of revenues, climbed 13.6% year over year to $36.8 million.
Revenues from the Healthcare segment fell 24.3% year over year to $48.7 million. The figure decreased 19.8% from the prior quarter. Excluding the impact of business divestments, the segment’s revenues decreased 23.4% year over year.
The Industrial Division revenues increased 5.6% year over year to $72.5 million while it went up by 0.7% sequentially. Excluding the impact of business divestments, the unit’s revenues increased 9.3%. The unit witnessed solid demand for products as well as materials.
During the first quarter of 2023, 3D Systems’ non-GAAP gross profit decreased 12.4% year over year to $47.2 million. Consequently, the non-GAAP gross profit margin contracted 160 basis points to 39%. This decrease was because of year-over-year product mix changes, due to divestitures and increased supply chain disruptions.
Adjusted EBITDA was negative $10.1 million. The margin of negative 8.3% reflected the inflationary impact on input costs and gradual investments for portfolio & business growth.
Balance Sheet Details
The company exited the first quarter with cash, cash equivalents and short-term investments of $529.9 million, lower than the prior quarter's $568.7 million. As of Mar 31, 2023, 3D Systems had a total debt of $450.2 million, up from the previous quarter’s $449.5 million.
In first-quarter 2023, the company utilized $27.7 million of cash from operational activities.
Guidance
3D Systems expects 2023 revenues between $545 million and $575 million.
The company projects non-GAAP gross margin to be 40-42%.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review.
The consensus estimate has shifted 15% due to these changes.
VGM Scores
At this time, 3D Systems has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. However, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, 3D Systems has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
3D Systems is part of the Zacks Computer - Mini computers industry. Over the past month, Apple (AAPL), a stock from the same industry, has gained 4.3%. The company reported its results for the quarter ended March 2023 more than a month ago.
Apple reported revenues of $94.84 billion in the last reported quarter, representing a year-over-year change of -2.5%. EPS of $1.52 for the same period compares with $1.52 a year ago.
For the current quarter, Apple is expected to post earnings of $1.18 per share, indicating a change of -1.7% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.2% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Apple. Also, the stock has a VGM Score of C.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A month has gone by since the last earnings report for 3D Systems (DDD). Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. A month has gone by since the last earnings report for 3D Systems (DDD). 3D Systems Q1 Loss Wider Than Expected, Sales Down Y/Y 3D Systems reported first-quarter 2023 non-GAAP loss of 9 cents per share, wider than the Zacks Consensus Estimate of a loss of 8 cents.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. A month has gone by since the last earnings report for 3D Systems (DDD). 3D Systems Q1 Loss Wider Than Expected, Sales Down Y/Y 3D Systems reported first-quarter 2023 non-GAAP loss of 9 cents per share, wider than the Zacks Consensus Estimate of a loss of 8 cents.
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A month has gone by since the last earnings report for 3D Systems (DDD). Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. During the first quarter of 2023, 3D Systems’ non-GAAP gross profit decreased 12.4% year over year to $47.2 million.
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5eccff00-294a-4907-980f-0e96a2bc60f3
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716430.0
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2023-06-02 00:00:00 UTC
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Noteworthy Friday Option Activity: IRBT, DDD, AA
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DDD
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https://www.nasdaq.com/articles/noteworthy-friday-option-activity%3A-irbt-ddd-aa
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nan
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in iRobot Corp (Symbol: IRBT), where a total of 4,812 contracts have traded so far, representing approximately 481,200 underlying shares. That amounts to about 85.9% of IRBT's average daily trading volume over the past month of 560,140 shares. Especially high volume was seen for the $45 strike call option expiring June 16, 2023, with 2,798 contracts trading so far today, representing approximately 279,800 underlying shares of IRBT. Below is a chart showing IRBT's trailing twelve month trading history, with the $45 strike highlighted in orange:
3D Systems Corp. (Symbol: DDD) saw options trading volume of 9,504 contracts, representing approximately 950,400 underlying shares or approximately 80% of DDD's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $8 strike put option expiring January 19, 2024, with 2,500 contracts trading so far today, representing approximately 250,000 underlying shares of DDD. Below is a chart showing DDD's trailing twelve month trading history, with the $8 strike highlighted in orange:
And Alcoa Corporation (Symbol: AA) saw options trading volume of 30,171 contracts, representing approximately 3.0 million underlying shares or approximately 77.4% of AA's average daily trading volume over the past month, of 3.9 million shares. Especially high volume was seen for the $25 strike put option expiring October 20, 2023, with 2,167 contracts trading so far today, representing approximately 216,700 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $25 strike highlighted in orange:
For the various different available expirations for IRBT options, DDD options, or AA options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Funds Holding NRXP
WMG YTD Return
SHEL Videos
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $8 strike put option expiring January 19, 2024, with 2,500 contracts trading so far today, representing approximately 250,000 underlying shares of DDD. Below is a chart showing IRBT's trailing twelve month trading history, with the $45 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) saw options trading volume of 9,504 contracts, representing approximately 950,400 underlying shares or approximately 80% of DDD's average daily trading volume over the past month, of 1.2 million shares. Below is a chart showing DDD's trailing twelve month trading history, with the $8 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) saw options trading volume of 30,171 contracts, representing approximately 3.0 million underlying shares or approximately 77.4% of AA's average daily trading volume over the past month, of 3.9 million shares.
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Below is a chart showing IRBT's trailing twelve month trading history, with the $45 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) saw options trading volume of 9,504 contracts, representing approximately 950,400 underlying shares or approximately 80% of DDD's average daily trading volume over the past month, of 1.2 million shares. Below is a chart showing DDD's trailing twelve month trading history, with the $8 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) saw options trading volume of 30,171 contracts, representing approximately 3.0 million underlying shares or approximately 77.4% of AA's average daily trading volume over the past month, of 3.9 million shares. Below is a chart showing AA's trailing twelve month trading history, with the $25 strike highlighted in orange: For the various different available expirations for IRBT options, DDD options, or AA options, visit StockOptionsChannel.com.
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Below is a chart showing IRBT's trailing twelve month trading history, with the $45 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) saw options trading volume of 9,504 contracts, representing approximately 950,400 underlying shares or approximately 80% of DDD's average daily trading volume over the past month, of 1.2 million shares. Below is a chart showing DDD's trailing twelve month trading history, with the $8 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) saw options trading volume of 30,171 contracts, representing approximately 3.0 million underlying shares or approximately 77.4% of AA's average daily trading volume over the past month, of 3.9 million shares. Especially high volume was seen for the $8 strike put option expiring January 19, 2024, with 2,500 contracts trading so far today, representing approximately 250,000 underlying shares of DDD.
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Below is a chart showing IRBT's trailing twelve month trading history, with the $45 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) saw options trading volume of 9,504 contracts, representing approximately 950,400 underlying shares or approximately 80% of DDD's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $8 strike put option expiring January 19, 2024, with 2,500 contracts trading so far today, representing approximately 250,000 underlying shares of DDD. Below is a chart showing DDD's trailing twelve month trading history, with the $8 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) saw options trading volume of 30,171 contracts, representing approximately 3.0 million underlying shares or approximately 77.4% of AA's average daily trading volume over the past month, of 3.9 million shares.
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aa979f4b-bac9-4361-906b-a351c1158b14
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716431.0
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2023-06-02 00:00:00 UTC
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Why Stratasys, 3D Systems, and Desktop Metal Stocks All Popped Today
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DDD
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https://www.nasdaq.com/articles/why-stratasys-3d-systems-and-desktop-metal-stocks-all-popped-today
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nan
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nan
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What happened
Shares of 3D printer-maker Stratasys (NASDAQ: SSYS), which have tread water for most of the past week, took a sudden turn to the upside on Friday, roaring ahead 10.2% through 12:40 p.m. ET. Rival 3D printing concerns are racing higher as well, with 3D Systems (NYSE: DDD) rising 10.4%, and Desktop Metal (NYSE: DM) up a solid 5%.
Why all the excitement about additive manufacturing technologies today? Because this morning, we learned the rival 3D printer-maker 3D Systems is interested in buying Stratasys.
So what
Seriously, folks, this Stratasys saga just keeps getting more and more curious.
Barely two months ago, the story began when Stratasys competitor Nano Dimension (NASDAQ: NNDM) -- which already owns a 14% chunk of Stratasys -- expressed interest in buying another 38% of the company, so that it would own more than a 50% stake in Stratasys, and thus have effective control over its rival.
Stratasys was understandably less than enthused with this prospect -- despite Nano Dimension offering $18 per share for its shares, a significant premium over Stratasys's stock price at the time. So last week, Stratasys announced that it was planning to buy yet another 3D printer maker, Desktop Metal (NYSE: DM), presumably with the aim of scaring off Nano Dimension and keeping Stratasys independent. (Interestingly, Stratasys valued its own shares at only $15.26 in making its bid for Desktop Metal.)
And now 3D Systems has entered the chat.
Offering what it calls a "superior proposal" to all the other plans being floated, 3D proposed a cash-and-stock acquisition in which it pays $7.50 per share in cash and offers 1.2507 of its own shares in exchange for each share of Stratasys outstanding. In so doing, it would also create a $2 billion-plus-giant in the 3D printing industry.
Now what
Between the cash and shares, 3D's proposed buyout price is worth a hair over $19 a share -- so mathematically at least, it is a superior proposal. In addition, 3D notes that its plan would create a single "clear pure-play additive manufacturing leader with unmatched scale and [a] highly attractive financial profile."
Indeed, citing projected cost-saving synergies from the merger, 3D calculates that the actual value of its bid is closer to $25 a share (although how that math works is less clear, and to a large extent speculative). On top of all that, 3D is telling Stratasys shareholders that they can expect the combined company to grow its business at "approximately 21%" annually over the next five years -- and earn positive free cash flow of $121 million next year.
Will Stratasys's board of directors bite at this offer?
They might. Both Stratasys and 3D saw their sales shrink 9% in the most recent quarter. The prospect of reversing that trend and growing rapidly instead of shrinking has to sound especially attractive (even if it also sounds suspiciously optimistic). So far, however, all Stratasys has said in response to 3D's offer is that it will "carefully review" it -- and that it's still planning to buy Desktop Metal in Q4 this year.
Stay tuned.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends 3d Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Rival 3D printing concerns are racing higher as well, with 3D Systems (NYSE: DDD) rising 10.4%, and Desktop Metal (NYSE: DM) up a solid 5%. What happened Shares of 3D printer-maker Stratasys (NASDAQ: SSYS), which have tread water for most of the past week, took a sudden turn to the upside on Friday, roaring ahead 10.2% through 12:40 p.m. Indeed, citing projected cost-saving synergies from the merger, 3D calculates that the actual value of its bid is closer to $25 a share (although how that math works is less clear, and to a large extent speculative).
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Rival 3D printing concerns are racing higher as well, with 3D Systems (NYSE: DDD) rising 10.4%, and Desktop Metal (NYSE: DM) up a solid 5%. Because this morning, we learned the rival 3D printer-maker 3D Systems is interested in buying Stratasys. So last week, Stratasys announced that it was planning to buy yet another 3D printer maker, Desktop Metal (NYSE: DM), presumably with the aim of scaring off Nano Dimension and keeping Stratasys independent.
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Rival 3D printing concerns are racing higher as well, with 3D Systems (NYSE: DDD) rising 10.4%, and Desktop Metal (NYSE: DM) up a solid 5%. Barely two months ago, the story began when Stratasys competitor Nano Dimension (NASDAQ: NNDM) -- which already owns a 14% chunk of Stratasys -- expressed interest in buying another 38% of the company, so that it would own more than a 50% stake in Stratasys, and thus have effective control over its rival. Stratasys was understandably less than enthused with this prospect -- despite Nano Dimension offering $18 per share for its shares, a significant premium over Stratasys's stock price at the time.
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Rival 3D printing concerns are racing higher as well, with 3D Systems (NYSE: DDD) rising 10.4%, and Desktop Metal (NYSE: DM) up a solid 5%. Because this morning, we learned the rival 3D printer-maker 3D Systems is interested in buying Stratasys. So far, however, all Stratasys has said in response to 3D's offer is that it will "carefully review" it -- and that it's still planning to buy Desktop Metal in Q4 this year.
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f2aaf4e5-92b2-4b68-89cd-ea2a22aea76d
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716432.0
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2023-06-02 00:00:00 UTC
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DDD Crosses Above Key Moving Average Level
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DDD
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https://www.nasdaq.com/articles/ddd-crosses-above-key-moving-average-level
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nan
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nan
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In trading on Friday, shares of 3D Systems Corp. (Symbol: DDD) crossed above their 200 day moving average of $9.39, changing hands as high as $9.44 per share. 3D Systems Corp. shares are currently trading up about 13.1% on the day. The chart below shows the one year performance of DDD shares, versus its 200 day moving average:
Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.5189 as the 52 week high point — that compares with a last trade of $9.34.
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
Also see:
The Online Investor
ETFs Holding FCFS
PCH Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of 3D Systems Corp. (Symbol: DDD) crossed above their 200 day moving average of $9.39, changing hands as high as $9.44 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.5189 as the 52 week high point — that compares with a last trade of $9.34. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » Also see: The Online Investor ETFs Holding FCFS PCH Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of 3D Systems Corp. (Symbol: DDD) crossed above their 200 day moving average of $9.39, changing hands as high as $9.44 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.5189 as the 52 week high point — that compares with a last trade of $9.34. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » Also see: The Online Investor ETFs Holding FCFS PCH Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of 3D Systems Corp. (Symbol: DDD) crossed above their 200 day moving average of $9.39, changing hands as high as $9.44 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.5189 as the 52 week high point — that compares with a last trade of $9.34. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » Also see: The Online Investor ETFs Holding FCFS PCH Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of 3D Systems Corp. (Symbol: DDD) crossed above their 200 day moving average of $9.39, changing hands as high as $9.44 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $13.5189 as the 52 week high point — that compares with a last trade of $9.34. 3D Systems Corp. shares are currently trading up about 13.1% on the day.
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aa2233a2-427a-4df0-ba28-9d4d1dc53784
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716433.0
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2023-06-01 00:00:00 UTC
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Stratasys receives unsolicited buyout proposal from 3D Systems
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DDD
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https://www.nasdaq.com/articles/stratasys-receives-unsolicited-buyout-proposal-from-3d-systems
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nan
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nan
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Adds proposal details in paragraph 2-3
June 1 (Reuters) - Stratasys Ltd SSYS.O said on Thursday it has received an unsolicited buyout proposal from its peer 3D Systems Corp DDD.N.
3D Systems has proposed to acquire Stratasys for $7.50 in cash and 1.2507 newly issued share of 3D Systems for each share of Stratasys, the industrial 3D printers maker said.
Stratasys said its board will "carefully review" the non-binding proposal.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shilpi Majumdar)
((JaiveerSingh.Shekhawat@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds proposal details in paragraph 2-3 June 1 (Reuters) - Stratasys Ltd SSYS.O said on Thursday it has received an unsolicited buyout proposal from its peer 3D Systems Corp DDD.N. 3D Systems has proposed to acquire Stratasys for $7.50 in cash and 1.2507 newly issued share of 3D Systems for each share of Stratasys, the industrial 3D printers maker said. (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shilpi Majumdar) ((JaiveerSingh.Shekhawat@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds proposal details in paragraph 2-3 June 1 (Reuters) - Stratasys Ltd SSYS.O said on Thursday it has received an unsolicited buyout proposal from its peer 3D Systems Corp DDD.N. 3D Systems has proposed to acquire Stratasys for $7.50 in cash and 1.2507 newly issued share of 3D Systems for each share of Stratasys, the industrial 3D printers maker said. (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shilpi Majumdar) ((JaiveerSingh.Shekhawat@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds proposal details in paragraph 2-3 June 1 (Reuters) - Stratasys Ltd SSYS.O said on Thursday it has received an unsolicited buyout proposal from its peer 3D Systems Corp DDD.N. 3D Systems has proposed to acquire Stratasys for $7.50 in cash and 1.2507 newly issued share of 3D Systems for each share of Stratasys, the industrial 3D printers maker said. (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shilpi Majumdar) ((JaiveerSingh.Shekhawat@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds proposal details in paragraph 2-3 June 1 (Reuters) - Stratasys Ltd SSYS.O said on Thursday it has received an unsolicited buyout proposal from its peer 3D Systems Corp DDD.N. 3D Systems has proposed to acquire Stratasys for $7.50 in cash and 1.2507 newly issued share of 3D Systems for each share of Stratasys, the industrial 3D printers maker said. Stratasys said its board will "carefully review" the non-binding proposal.
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56580e17-7b28-41a3-9e5f-076cb8650934
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716434.0
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2023-05-10 00:00:00 UTC
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Credit Suisse Reiterates 3D Systems (DDD) Underperform Recommendation
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DDD
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https://www.nasdaq.com/articles/credit-suisse-reiterates-3d-systems-ddd-underperform-recommendation
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nan
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nan
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Fintel reports that on May 10, 2023, Credit Suisse reiterated coverage of 3D Systems (NYSE:DDD) with a Underperform recommendation.
Analyst Price Forecast Suggests 17.17% Upside
As of April 24, 2023, the average one-year price target for 3D Systems is 9.69. The forecasts range from a low of 7.07 to a high of $13.65. The average price target represents an increase of 17.17% from its latest reported closing price of 8.27.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for 3D Systems is 569MM, an increase of 8.17%. The projected annual non-GAAP EPS is -0.15.
What is the Fund Sentiment?
There are 473 funds or institutions reporting positions in 3D Systems. This is a decrease of 13 owner(s) or 2.67% in the last quarter. Average portfolio weight of all funds dedicated to DDD is 0.17%, an increase of 90.28%. Total shares owned by institutions decreased in the last three months by 1.28% to 104,826K shares.
The put/call ratio of DDD is 0.91, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 9,728K shares representing 7.46% ownership of the company. In it's prior filing, the firm reported owning 9,529K shares, representing an increase of 2.05%. The firm decreased its portfolio allocation in DDD by 13.87% over the last quarter.
Invesco holds 5,390K shares representing 4.14% ownership of the company. In it's prior filing, the firm reported owning 5,423K shares, representing a decrease of 0.61%. The firm decreased its portfolio allocation in DDD by 16.13% over the last quarter.
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS) - Invesco Oppenheimer Global Opportunities Fund Class R5 holds 5,000K shares representing 3.84% ownership of the company. No change in the last quarter.
Nikko Asset Management Americas holds 3,748K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 3,798K shares, representing a decrease of 1.33%. The firm increased its portfolio allocation in DDD by 12.27% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 3,748K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 3,798K shares, representing a decrease of 1.33%. The firm increased its portfolio allocation in DDD by 33.54% over the last quarter.
3D Systems Background Information
(This description is provided by the company.)
More than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading Additive Manufacturing solutions partner, it brings innovation, performance, and reliability to every interaction - empowering its customers to create products and business models never before possible. Thanks to its unique offering of hardware, software, materials and services, each application-specific solution is powered by the expertise of its application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems' solutions address a variety of advanced applications in Healthcare and Industrial markets such as Medical and Dental, Aerospace & Defense, Automotive and Durable Goods.
See all 3D Systems regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Fintel reports that on May 10, 2023, Credit Suisse reiterated coverage of 3D Systems (NYSE:DDD) with a Underperform recommendation. Average portfolio weight of all funds dedicated to DDD is 0.17%, an increase of 90.28%. The put/call ratio of DDD is 0.91, indicating a bullish outlook.
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Fintel reports that on May 10, 2023, Credit Suisse reiterated coverage of 3D Systems (NYSE:DDD) with a Underperform recommendation. Average portfolio weight of all funds dedicated to DDD is 0.17%, an increase of 90.28%. The put/call ratio of DDD is 0.91, indicating a bullish outlook.
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Fintel reports that on May 10, 2023, Credit Suisse reiterated coverage of 3D Systems (NYSE:DDD) with a Underperform recommendation. Average portfolio weight of all funds dedicated to DDD is 0.17%, an increase of 90.28%. The put/call ratio of DDD is 0.91, indicating a bullish outlook.
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Fintel reports that on May 10, 2023, Credit Suisse reiterated coverage of 3D Systems (NYSE:DDD) with a Underperform recommendation. Average portfolio weight of all funds dedicated to DDD is 0.17%, an increase of 90.28%. The put/call ratio of DDD is 0.91, indicating a bullish outlook.
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716435.0
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2023-05-09 00:00:00 UTC
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Why 3D Systems Stock Just Dropped by 10%
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DDD
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https://www.nasdaq.com/articles/why-3d-systems-stock-just-dropped-by-10
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What happened
Shares of 3D Systems (NYSE: DDD) were down by 10.2% as of 10:40 a.m. ET Tuesday after the 3D printer manufacturer reported weaker-than-expected sales and earnings after the market closed Monday.
Heading into the first-quarter report, analysts had forecast that 3D Systems would lose $0.07 per share on sales of $128 million. As it turned out, the company's losses were $0.09 per share on sales of only $121.2 million.
So what
Even worse, that $0.09 per share loss was an adjusted non-GAAP loss. When calculated according to generally accepted accounting principles (GAAP), 3D Systems actually lost $0.23 per share, which was $0.02 a share worse than its result in the prior-year quarter. Revenues declined 9% year over year, with sales strongest in the company's medical and industrial markets, and weakest in dental orthodontics, where it seems lower consumer discretionary spending as well as customer inventory reduction efforts depressed results.
Despite all that, CEO Jeffrey Graves called the quarter "a solid start in 2023," and reiterated that his company is on track to generate sales of between $545 million and $565 million for the year, along with positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), and at least breakeven free cash flow.
Now what
Graves sees the greatest potential for revenue growth in the industrial and medical segments. In the industrial space, increased use of additive manufacturing (i.e., 3D printing) in multiple areas, including commercial rocketry and aerospace propulsion, drove the company's sales 9% higher in the quarter. And in the medical industry, where products for patients are being 3D printed at the "point of care" -- i.e., right at the doctor's office -- sales were up 20%.
Nevertheless, it's worth highlighting that 3D did not guide for actual GAAP profits this year, which tallies with analysts' projections. (On average, those covering the stock think 3D will lose $0.17 per share this year). Also, the midpoint of 3D's guidance range for 2023 revenue falls just short of analysts' consensus projection of $557 million.
Given the weak guidance and the earnings miss, it's understandable that investors would be selling off 3D Systems stock Tuesday.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends 3d Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of 3D Systems (NYSE: DDD) were down by 10.2% as of 10:40 a.m. Despite all that, CEO Jeffrey Graves called the quarter "a solid start in 2023," and reiterated that his company is on track to generate sales of between $545 million and $565 million for the year, along with positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), and at least breakeven free cash flow. In the industrial space, increased use of additive manufacturing (i.e., 3D printing) in multiple areas, including commercial rocketry and aerospace propulsion, drove the company's sales 9% higher in the quarter.
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What happened Shares of 3D Systems (NYSE: DDD) were down by 10.2% as of 10:40 a.m. Heading into the first-quarter report, analysts had forecast that 3D Systems would lose $0.07 per share on sales of $128 million. Revenues declined 9% year over year, with sales strongest in the company's medical and industrial markets, and weakest in dental orthodontics, where it seems lower consumer discretionary spending as well as customer inventory reduction efforts depressed results.
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What happened Shares of 3D Systems (NYSE: DDD) were down by 10.2% as of 10:40 a.m. Revenues declined 9% year over year, with sales strongest in the company's medical and industrial markets, and weakest in dental orthodontics, where it seems lower consumer discretionary spending as well as customer inventory reduction efforts depressed results. Despite all that, CEO Jeffrey Graves called the quarter "a solid start in 2023," and reiterated that his company is on track to generate sales of between $545 million and $565 million for the year, along with positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), and at least breakeven free cash flow.
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What happened Shares of 3D Systems (NYSE: DDD) were down by 10.2% as of 10:40 a.m. Heading into the first-quarter report, analysts had forecast that 3D Systems would lose $0.07 per share on sales of $128 million. As it turned out, the company's losses were $0.09 per share on sales of only $121.2 million.
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9d49d5d1-faa1-42f8-bb87-dd33ef07b069
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716436.0
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2023-05-09 00:00:00 UTC
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3d Systems (DDD) Q1 2023 Earnings Call Transcript
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-q1-2023-earnings-call-transcript
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Image source: The Motley Fool.
3d Systems (NYSE: DDD)
Q1 2023 Earnings Call
May 09, 2023, 8:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Hello, and welcome to the 3D Systems Q1 2023 conference call and webcast. [Operator instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to your host, treasurer, and vice president of investor relations, Mick McCloskey. Please go ahead, sir.
Mick McCloskey -- Vice President, Investor Relations
Good morning, and welcome to 3D Systems' first-quarter 2023 conference call. With me on today's call are Dr. Jeffrey Graves, our president and chief executive officer; Michael Turner, executive vice president and chief financial officer; and Andrew Johnson, executive vice president, chief corporate development officer, and chief legal officer. The webcast portion of this call contains a slide presentation that we will refer to during the call.
Those following along on the phone who wish to access the slide portion of this presentation may do so on the Investor Relations section of our website. For those who have accessed the streaming portion of the webcast, please be aware that there may be a few seconds delay and that you will not be able to post questions via the web. The following discussion and responses to your questions reflect management's views as of today only and will include forward-looking statements as described on this slide. Actual results may differ materially.
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Additional information about factors that could potentially impact our financial results is included in last night's press release and our filings with the SEC, including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q. During this call, we will discuss certain non-GAAP financial measures. In our press release and slides accompanying this webcast, which are both available on our Investor Relations website, you will find additional disclosures regarding these non-GAAP measures, including reconciliations of these measures with comparable GAAP measures. Finally, unless otherwise stated, all comparisons in this call will be against our results for the comparable period of 2022.
With that, I'll turn the call over to our CEO, Jeff Graves, for opening remarks.
Jeff Graves -- President and Chief Executive Officer
Thank you, Mick. And good morning, everyone. I'll begin this morning with some comments on the major drivers of our first-quarter performance and how we anticipate the rest of the year unfolding at this point. I'll include progress we've made against some key strategic objectives, including partnerships and initiatives that we've previously announced.
After that, I'll hand the call over to our CFO, Michael Turner, for a more detailed discussion of our first-quarter financial results and our updated guidance for 2023. With that, let me turn to Slide 5 and start with a quick recap of the quarter. In describing our current market dynamics, they can best be characterized as being strongly bifurcated with one specific market being soft and the remainder being strong. I'll begin with the negative and that being the dental orthodontics or, more specifically, the clear dental aligners business.
As most of you know, we have a particularly strong position in this market. As we've said for the last few quarters, demand has been severely impacted by reduced consumer discretionary spending as inflation has forced many consumers to focus on meeting life necessities such as food, gas, and rent. While we're pleased that this market seems to be stabilizing, it has yet to return to growth. Compounding the economic impact on the actual market demand has been our customers' desire to reduce inventory levels, which had grown significantly during the COVID period.
We expect this pressure to continue through midyear and then moderate as supply and demand come back into balance in the second half. This assumption is reflected in our guidance for the year. Looking ahead, provided a deep recession can be avoided as inflation now moderates, we would anticipate this market returning to growth in 2024. Turning then to the orthopedic half of our healthcare business, the story becomes very positive.
This market continues to be robust, which in Q1 translated again into strong double-digit revenue growth. As many of you are aware, 3D Systems was a pioneer in this field, beginning with the creation of customized medical models in the early 2000s, and since that time, expanding significantly into human musculoskeletal applications based on our rapidly growing orthopedic expertise. This transition from simple medical models into applications within the human body was a titanic undertaking for our company spanning many years, with success requiring not only the development of compelling technologies, but the establishment of world-class process disciplines and quality practices, accompanied by the required regulatory approvals that are the price of entry for any company that wishes to participate in this market. Fast forward to today, we're a recognized leader in craniomaxillofacial and spinal orthopedic applications.
And over the last few years, we've expanded our focus to include many additional indications in the human skeletal system. This expansion in our orthopedic business is a key element of our strategic growth plan for the future. Success in these new orthopedic indications requires, first, that we continue to advance our printing hardware and material systems, which now fully encompass both metal and polymer platforms, and to do so with increasing software integration that incorporates AI and machine learning to optimize the full medical workflow from receipt of the patient's digital imaging data through the surgical planning process with the patient's surgeon, and then to the printing and finishing operations which provide patient-specific medical implants. We can produce these implants within days of the initial request and do so while manufacturing custom surgical instrumentation and cutting guides to aid the surgeon in the OR.
To date, we have used this process to bring life-changing orthopedic repairs to well over 150,000 individual patients, and the number grows daily. Often an example is helpful and fully conveying the nature of what we do. If you look at the left-hand side of Slide No. 5, you'll see an actual digital image of a patient suffering from a cancerous tumor in their leg in pelvic region.
Traditionally, this type of tumor would have been removed by amputation of much of the surrounding bone structure, which in this case would have cost the patient one of their limbs and part of their pelvis. Through the use of our die cut, and print, and free-form software, our engineers working with the patient's surgical team were able to design and print the needed high-precision cutting guides and surgical instrumentation that allow the tumor to be carefully removed. Then in the same operation, install a custom patient-specific triflange titanium implant to reinforce the remaining bone structure, thereby avoiding amputation the limb. This complex implant was manufactured using our Oqton 3D expert printing software in combination with our DMP 350 metal printing system.
This entire process from first interaction with the patient data, the completed medical device was done in days, allowing the patient to receive the treatment they so badly needed shortly after the first diagnosis. While the technology itself is remarkable, the speed and economics of this entire orthopedic workflow has now improved to the point of large-scale adoption. Even with this progress, we continue to challenge ourselves to push even further on capability and cost efficiency. For example, this year, we moved from a single laser metal printing platform to a dual laser system, which dramatically improves production throughput.
And we've recently expanded from a focus on titanium materials, which are preferred for many applications in the human body, to a special cobalt chrome material that's needed for use in articulating joint repair and replacement such as the human knee. We're the first to do this through 3D printing, which opens the door for a much greater degree of economic customization and joint replacement, which is becoming a common need and an active but aging population. Moving to our industrial solutions group. We're also seeing continued strong demand, driven largely by automotive, electronics, and military aviation and space markets.
In the electronics market, I would specifically call out electrical connectors as a leading application for additive manufacturing, which can be attributed to a very high number of part types that are geometrically complex and produced at lower volumes or on a very regular basis. These types of applications benefit greatly from the avoidance of hard tooling and dedicated injection molding capacity for their manufacturer. While our development efforts for connectors has been progressing behind the scenes for some time, in the first quarter, we were pleased to announce publicly our collaboration with TE Connectivity, a world leader in connectors and sensors. Our joint program focuses on developing an additive manufacturing solution to produce electrical connectors that meet stringent UL regulatory requirements at scale for use within our partner's global factory network.
The production solution illustrated on the right-hand side of Slide 5 comprises a modified Figure 4 modular printing platform, unique polymeric materials that have been the first known to pass the UL standards for flame retardancy, our 3D Sprint software, and our global services capability. Instrumental to this success has been a newly developed photopolymer that we engineered specifically to meet TE Connectivity's requirements for performance and cost, and in parallel the hardware performance to produce the precision and speeds at an industrial scale. This is a great example of how we're partnering with industry leaders in key markets to accelerate innovation and build competitive advantage through additive manufacturing solutions. We believe TE Connectivity has the potential to become a significant customer for us, and we're honored to be their partner.
As 2022 was an investment year, I'm pleased to address the progress we're making on some of our recent acquisitions. Moving to Slide 6. Last quarter, we shared the achievement of a major milestone for our healthcare solutions group when a surgical team at Austria's University Hospital in Salzburg executed the first clinical implantation of a 3D-printed cranial plate manufactured from medical-grade peak polymer material using a Kumovis printer. This printer was specifically developed for precision printing of medical-grade, high-performance polymers.
They received early approval by European regulators for this procedure, and a similar process is underway in the U.S. with the FDA. Using a Kumovis printer installed at the point of care inside the hospital, the surgical team customized and printed a cranial implant to precisely match the patient's specific anatomical profile and related physiological needs. A few months after the procedure was performed, we're thrilled that Mr.
Trummer and -- for Mr. Trummer and the relief that this has brought to him. We are deeply indebted to the talented surgeons and staff at Salzburg University Hospital we brought together for the first time, our unique software, hardware, and materials technologies in a point-of-care hospital setting to address the specific needs. We believe that this success provides a real-life demonstration of the potential for enhancing orthopedic outcomes through the use of comprehensive digital manufacturing technology within a hospital setting.
Our focus on point-of-care implementation of these integrated technologies is a key priority for our company and one that we believe will bring significant benefits to patients around the world in the years ahead. Here's a picture of Mr. Trummer several weeks after the surgery, where his recovery is on track and very apparent for all. Now turning to Slide 7.
The next area I wanna update you on is the recent news regarding our software division, Oqton, which we acquired in 2021. Oqton's unique cloud-based, AI-enabled manufacturing operating system accelerates deployment and automation of digital manufacturing and production environments to improve efficiencies and reduce costs. Oqton recently announced the first comprehensive update on the adoption of this system in the dental market. To date, several hundred dental labs have now adopted Oqton's manufacturing operating system worldwide in the first 18 months of its availability.
With dental labs now migrating quickly to the Oqton platform to manage their operations, customer feedback has been overwhelmingly positive as demonstrated by churn rates ranging from negative 20% to negative 30% for the software, meaning that customers are not only renewing their initial licenses but are rapidly expanding the number of licenses they're using at each of their operational sites. Production efficiency gains exceeded 50% in the first year of implementation, and the ratio of lifetime value to customer acquisition cost of over five demonstrates the value creation through Oqton adoption. Now moving to Slide 8, I'd like to provide some updates on some of our most recent exciting R&D efforts. Another strategically important area of investment focus last year was regenerative medicine.
And we had announced the formation of Systemic Bio, a wholly owned start-up company that's leveraging our expertise in vascularized tissue printing to develop and manufacture unique organ-on-a-chip technology called h-VIOS for use in drug discovery and development by the pharmaceutical industry. Systemic Bio will partner directly with major pharmaceutical industry partners to jointly develop h-VIOS chips that are tailored to specific organ and disease functions and then market those ships directly to pharmaceutical and biotech companies engaged in drug discovery. I am very happy to announce today that we've signed our first contract with a major pharmaceutical company for application of our h-VIOS chip technology. While we do not yet have permission to disclose the company name, in this program, we will establish a bio-printed vascularized tumor model to be used for drug discovery and development efforts in oncology.
Given development time lines in the industry, our efforts will seek to accelerate the development of new, patient-specific therapies using these tumor models. This will be a multiyear collaboration to test the response of a patient's tumor through a variety of anticancer therapies through the use of our h-VIOS technology. We're extremely excited about the potential for the widespread adoption of our h-VIOS chip technology and view this initial contract as early initial validation of our approach to reducing the development cycle for new drug therapies. Turning then to Slide 9.
As we've stated before, a key point regarding our ongoing investment initiatives is that we are only pursuing R&D programs and new additions to our product portfolio that we believe offer attractive returns and are consistent with our company mission to provide application-focused, additive manufacturing solutions to high-value, high-growth industrial and healthcare end markets. As you saw in our announcement last week, we were very excited to enhance our selective laser sintering or SLS offering with the planned acquisition of Wematter. With their Gravity Essential, and Essential+, and enterprise line of SLS printers, Wematter brings affordable, turnkey, closed-loop solutions that make SLS accessible for smaller production environments, enabling a broader population of potential customers whose manufacturing space is limited. In addition, their portfolio of over 20 SLS material types enables them to address a wide range of applications for industrial, medical device, and academic research markets.
Importantly, Wematter emphasizes a new standard for customer ease of installation and use, and a focus on environmental sustainability with its unique integrated powder handling and recycling system. While having a robust internal development program to meet most of our emerging customer needs, we've used strategic bolt-on acquisitions, such as Wematter with their unique printing technology, as having a smaller but important role to play in our continued expansion into new customer-specific applications across our two business units. We expect to close the Wematter transaction in early July. Shifting to our internal development efforts, I'm pleased to share that our announcement late last year of the revolutionary SLA 750 deal, the world's first synchronous dual laser SLA printer, continues to garner excitement and remains on track for a summer release.
As a reminder, the trailblazing SLA dual delivers twice the speed and three times the throughput of competing platforms, dramatically improving productivity and cost efficiency. This industrial printing system, as confirmed through our extensive beta testing with select customers, will be the industry leader in print size, speed, accuracy of resolution, delivering parts with unmatched surface finish, and mechanical performance. When leveraged with the Oqton manufacturing platform, it unlocks the true power of seamless integration on the Factory 4. We believe that this system will become a mainstay in industry such as transportation, motor sports consumer technology and durable goods, manufacturing services, aerospace, and healthcare for many years to follow.
In addition to introducing our newest growth initiatives, I believe it's good discipline to provide an update on some of our previous announcements, and particularly if there's a directional change to note. Along these lines, in February of 2021, we announced a collaboration with Jabil Corporation, a longtime customer and partner for the development product we called Roadrunner. Using extrusion technology, this product aims to offer several benefits to industrial markets, including increased speed, high-temperature material capability, a larger build area, and enhanced precision. The intent with Roadrunner was that customers would use a standard film and input material, much of which Jabil was capable of supplying.
However, as this program got underway, we continue studying alternatives, including moving to a pellet extrusion technology, which offer the potential for a much lower material cost. As we dug further, we discovered a small company in Colorado called Titan Robotics that has developed such a printing platform. In short order, we elected to acquire Titan and integrated into the 3D Systems family of printing platforms and operating systems. The net result was a quicker, surer path to market for a machine that -- from the outset that many of the attributes we were looking for in the Roadrunner system.
Today, the Titan platform is in full production and is rapidly gaining customer acceptance across several significant industrial markets. Since acquiring this talented group of engineers, we've continued to build on the Titan platform, reinforced with technology that we both developed ourselves and gleaned from our subsequent acquisition of Kumovis, which as I mentioned earlier, has a novel extrusion technology for high-performance medical and aerospace grade polymers. Through both the Kumovis and Titan platforms, we are now being integrated and expanded upon through our internal investments to continue our move into the broader extrusion market. Stay tuned for future developments in this area as there very well may be a son of Roadrunner in the offering.
The second initiative that we'd like to update you on is the partnership we announced in June of 2021, which focused on the bio-printed regenerative soft tissue matrix for use in breast reconstruction. While the initial exploratory efforts of our partners' results were promising, as the program progressed, material scientists in our laboratories independently developed alternative materials, which we believe were better suited for both breast reconstruction and other soft tissue applications. As such, earlier this year, we decided to pursue these applications by ourselves and have continued our own efforts in the printing of vascularized soft tissue using our unique materials and printing technology. We detailed this effort in the release we made in February of this year.
This human tissue program has shown great promise in the large animal studies that we've completed to date, as we have subsequently announced. We remain excited about this effort in the rapidly increasing number of human applications to continue to emerge from this program. And finally, regarding our acquisition of the high-speed rotary printing platform, dp polar, we're moving along quite well with the first beta phase units that will launch with select strategic customers in key industrial and healthcare growth markets. We expect the first of these units to be installed in late summer and more to follow in the fall.
These units are specifically designed for high-speed printing of high-volume high-mix polymer components. We'll update you once again as we gain customer feedback from this initial trial launch. Now moving to Slide 10. Before turning the call over to Michael, I'd like to update you on our outlook for 2023 and beyond.
Let me make a very clear statement of our operating philosophy. As a leader in our industry, we believe it's important to demonstrate that we can deliver both exciting growth and profitability levels sufficient to support the ongoing investment requirements that are needed in order to meet rapidly expanding customer applications. As such, earlier this year, we announced a restructuring initiative to improve our 2023 profit profile by better aligning our European engineering and manufacturing operations for our three metals platforms, streamlining our software organization, which is now consolidated under Oqton and focusing our product portfolio on platforms that bring the highest long-term value to the market. We're progressing very well on this front.
And as we announced last night, we've now expanded our restructuring efforts to reduce headcount by approximately 6% across all functions of the company. We feel it's necessary to prudently manage our cost structure in step with the uncertainties associated with the broader macroeconomic environment. And most importantly, our previous investments in productivity are now allowing us to harvest more cost efficiencies as the year progresses. As Michael will detail for you later, we have increased our guidance to deliver $2 million or more in adjusted EBITDA in 2023 with no change to our outlook for revenue, non-GAAP gross profit margin, and free cash flow.
In closing, I'd like to address a question that's arisen from some of our analysts who follow the company regarding our historic core healthcare and industrial businesses and the additional investments that we're choosing to make in regenerative medicine, which is not generating material revenue for us today. Very specifically, we're being asked why, particularly in these challenging times, are we choosing to make these investments. First, let me be as clear as possible about the magnitude of our investment, including within our full-year 2023 guidance is a plan to invest between $10 million and $12 million in Systemic Bio and our other regenerative medicine initiatives related to human non-organ tissue development. In addition to this, we're also receiving significant external support for our human organ development efforts from our partner, United Therapeutics.
To state the obvious, if we were not committed to this effort, our EBITDA performance would be much greater this year. The reason that we're making these investments is very simple. We have an incredibly unique and exciting opportunity to drive unprecedented change in the field of medicine and in tens of thousands of people's lives who can benefit from this technology. It's an opportunity we are uniquely positioned to unlock with a series of highly strategic investments that have the potential to drive significant change for the future of the company and, more importantly, a life-changing impact on society.
And we're fortunate to be in a position to fund them with our strong balance sheet and profit-generating businesses inherent in our core portfolio. The benefit for all stakeholders including our shareholders, our employees, and importantly, the people's lives that we will impact will be exceptional. As to our time frame, I'll remind you of the goal that our partner, United Therapeutics' CEO, Martine Rothblatt, stated at last summer's CNN-sponsored Life Itself event that within 5 years, we'll have a printed organ in human clinical trials. Today, we're a year closer to making this goal a reality.
You can expect more announcements related to our human and pharmaceutical efforts in the future. Until then, our core businesses are thriving. We're making the progress needed in each key market to ensure that we retain our leadership position. And with that, let me turn the discussion over to Michael for more detail on our financial performance and our outlook.
Michael?
Michael Turner -- Executive Vice President, Chief Financial Officer
Thanks, Jeff. Before I start, I'd like to make a few comments regarding seasonality and year-over-year comparisons as an important backdrop to today's discussion on Slide 12. As I commented during our last call, it has been typical for 3D Systems to begin each year with a relatively lower first quarter, then go through somewhat higher second and third quarters, and finish the year with a strong Q4, with customers flush annual budgets and stock-up on inventory for the coming year. 2022 did not follow the same trend, primarily due to a shift in demand patterns in the dental market.
Therefore, we would expect the distribution of quarterly revenue for 2023 to be more in line with the distribution of quarterly revenues in 2021 as opposed to what we saw in 2022. Now to set the stage a bit more, let's turn now to our first-quarter revenue summary on Slide 13. Our results in Q1 came in largely as expected, with dental softness impacting our growth on a year-over-year basis. Excluding the expected decline in sales to our dental customers, we experienced solid growth across our businesses, demonstrating consistent growth in demand for the rest of the end markets served by our industrial and healthcare Solutions segments, which I'll detail for you shortly.
Q1 revenue of $121 million decreased 8.8% compared to the same period last year. Q1 revenue on a constant currency basis decreased 6.5%, reflecting the anticipated weakness in the dental orthodontics market. Q1 revenue from our nondental markets increased 12% on a constant currency basis compared to the same period last year. Specific to our segments, healthcare solutions revenue decreased 24.3% to $48.7 million compared to the same period last year.
Healthcare solutions revenue on a constant currency basis decreased 23.4% versus the prior year due to continued softness in our dental orthodontic market as expected, which was down approximately 46% versus the same period in the prior year. Our dental orthodontic market had a particularly strong first half of 2022, followed by a significant decline in the second half of 2022, broadly due to adverse macroeconomic conditions. In our lastearnings call we mentioned that we expected this market to be down approximately 35% in 2023, and that view remains unchanged today. For the remainder of our healthcare solutions business, revenue from our nondental markets was up by more than 22% on a constant currency basis versus the same period last year.
And we continue to expect double-digit growth in this business, driven by strength in both the orthopedic market and the CMS space on the basis of increased market adoption and technical advancements. Turning now to our industrial solutions segment, where revenues increased 5.6% to $72.5 million compared to the same period a year ago. As we noted in the past, our industrial solutions segment is more exposed to FX rate movements than our healthcare solutions business. Excluding the impact of FX, industrial solutions revenue increased by over 9% versus the prior year, driven by strong performances in consumer auto and OEM, academic and research, and electronics and connectors.
Jewelry and service bureaus continue to be key markets for industrial solutions. Moving now to gross profit on Slide 14. Gross profit margin in the first quarter of 2023 was 39% compared to 40% in the same period last year. Non-GAAP gross profit margin was 39% compared to 41% in the same period last year.
The decrease was primarily due to lower overall sales volumes resulting in reduced fixed cost leverage, unfavorable sales mix, and input cost inflation. On a sequential basis, non-GAAP gross profit margins were down by approximately 200 basis points due to normal seasonal trends, with the lower volumes driving lower fixed cost leverage. We maintain our view that full-year gross profit margins will be between 40% and 42% for the year. I'll speak more on seasonal impacts to gross profit margin shortly.
Moving now to Slide 15. Adjusted EBITDA decreased by $12 million to negative $10 million in the first quarter of 2023 compared to the same period in the prior year. The decrease in adjusted EBITDA primarily reflects lower sales volumes in our digital orthodontics market and inflationary impacts on our input costs, as well as spending in targeted areas to support future growth including expenses from acquired businesses, research and development costs, as well as investments in regenerative medicine and corporate infrastructure. Net loss of $29.4 million resulted in a diluted loss per share of $0.23 and a diluted non-GAAP loss per share of $0.09.
The year-over-year EPS decline reflects all the factors that we previously discussed. Turning now to Slide 6 for an update on our balance sheet. We ended the quarter with approximately $530 million of cash and short-term investments on hand, which is down $39 million from year-end levels. The decrease resulted primarily from normal seasonal use of cash from operations of $28 million, capital expenditures of $9 million, and taxes paid to net share settlement of equity awards of $2 million.
We continue to have a strong balance sheet with sufficient cash to support organic growth and our investments in our pre-commercial businesses, and we maintain our view that we will achieve breakeven or better free cash flow during 2023. I'll conclude my remarks on Slide 17 with an update on our restructuring efforts and our updated full-year 2023 guidance. Last night, we announced the next phase of our restructuring initiative to improve operating efficiencies throughout the organization in order to drive long-term value creation. The next evolution of this restructuring initiative will target a reduction in headcount by approximately 6% of our workforce, which is being enabled by prior investments made to improve business processes, operational efficiencies gains, and continued integration of acquisitions completed over the last two years.
We expect this initiative to reduce operating expenses by approximately $4 million to $6 million in 2023 and provide annualized savings of $9 million to $11 million beginning in 2024. This is in addition to the restructuring initiatives that we announced earlier this year, which we continue to expect will deliver savings of $2.5 million to $3.5 million in 2023 and $5.5 million to $7 million in 2024 and beyond. We expect the combined impact of both initiatives to deliver $6.5 million to $9.5 million of savings in 2023 and $14.5 million to $18 million in 2024 and beyond. As a result of this most recent phase of our restructuring initiative and our unchanged views on the fundamental drivers of demand growth, we are raising our full-year 2023 adjusted EBITDA guidance to $2 million or better and reaffirming our guidance for revenues, which we continue to believe will be in the range of $545 million to $575 million; non-GAAP gross profit margins, which we continue to expect to be in the range of 40% to 42%; and free cash flow, which we expect to be breakeven or better in 2023.
I'd also like to note, as Jeff mentioned earlier, this guidance includes expected investments of $10 million to $12 million in Systemic Bio and our regenerative tissue program this year. Before I conclude my prepared remarks, I'd like to talk briefly again about our expected pacing of revenues throughout the year, where I'll point you to my seasonality comments from earlier this morning as well as from our lastearnings call The short message is that if you apply our full-year sales guidance to the distribution of 2021 actual sales by quarter, it should provide an indicative view of how we would expect 2023 to unfold. This will also have an impact on our quarterly gross profit margins due to volume impacts on fixed cost leverage resulting in lower margins in the first half of the year and higher margins in the second half of the year.
We believe that the prudent actions we continue to take are necessary and demonstrate our ability to harvest productivity gains and efficiencies, drive organic growth, and deliver on our commitments to profitability and enhancing long-term value creation for our future. That concludes my remarks. Operator, we are now ready to open the line for questions.
Questions & Answers:
Operator
[Operator instructions] Our first question today is coming from Troy Jensen from Lake Street Capital. Your line is now live.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Hey, gentlemen. Good morning. Thanks for taking my question here. Maybe quick first for you, Jeff.
The strength in industrials, is it primarily DMLS? Or what technologies are most upside in that vertical?
Jeff Graves -- President and Chief Executive Officer
So, good morning, Troy. First of all, thanks for the question. And also the prior questions that you've asked, that's part of the response that we included in the script this morning. Are you asking about what technologies are driving the growth, Troy?
Troy Jensen -- Lake Street Capital Markets -- Analyst
Yeah. I just see there's been a lot of strength in metals is what I'm going to if you look at a couple of your competitors have reported, and I'm just wondering if that's the specific technology that's benefiting the most in industrials.
Jeff Graves -- President and Chief Executive Officer
No, encouragingly, Troy, it's pretty broad-based. I mean metals has done well this year. And metals -- clearly, additive for metals is being adopted more widely now, and we're benefiting from that. I would also tell you, though, our polymer platforms are doing quite well.
And that's full spectrum from SLA and DLP doing quite well, and our new extrusion platform with Titan is doing well. So across our MJP platform, it is in big demand as well. So it's very broad-based, both from a technology standpoint, Troy, and from an end market standpoint.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Glad to hear. So -- and speaking to that, your Q1 was somewhat soft, I guess, versus consensus, but you're maintaining full-year guidance. So just talk about visibility in the second half. And in conjunction, Mike, if I just take 22% in Q1 versus what you guys just printed, that gets us like a revenue number of about $550 million.
So is that what you're endorsing specifically? Or what's the basis now?
Michael Turner -- Executive Vice President, Chief Financial Officer
So the way I would talk about revenues for the year, Troy, if you just take our -- the previously provided guidance range of $545 million to -- what was it?
Jeff Graves -- President and Chief Executive Officer
$575 million.
Michael Turner -- Executive Vice President, Chief Financial Officer
$575 million. Just take wherever you want along that path and just kind of plot it against the 2021 distribution of quarterly revenues.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Got it.
Michael Turner -- Executive Vice President, Chief Financial Officer
And that's largely how we think it would hold out. So literally using the midpoint, it'd be like -- yeah, you can do the math. So just take the numbers and using seasonality.
Jeff Graves -- President and Chief Executive Officer
And then, Troy--
Troy Jensen -- Lake Street Capital Markets -- Analyst
Visibility, though, in the second half to--
Jeff Graves -- President and Chief Executive Officer
Yeah. That's what I was just gonna comment on, Troy. As you know, it's a crazy world right now, and we see no reason to change our outlook that things are gonna kind of go along as planned. We've paid particular attention to the clear aligner market to track that one.
It's a big influence on us. But -- and we baked that in, what we expect there, and we'll try to be very transparent on the call on what we expect. The rest of the market, we're assuming basically continues. The behavior is the -- it looks like inflation is coming down a bit, the interest rate.
And hopefully, the interest rate increases will kind of moderate, at least the increases. We're not expecting a booming economy or a big bust. We're kind of projecting along the way. So we'll have more clarity after the second quarter.
But I think our estimates right now are very reasonable, given what we all know about the world. But I think they're quite reasonable, and they assume no heroics in terms of economic performance out there by any country or region.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Perfect. And thank you for that $10 million to $12 million regenerative investment. I think that's important to know. Good luck, guys.
Jeff Graves -- President and Chief Executive Officer
Thank you, Troy.
Michael Turner -- Executive Vice President, Chief Financial Officer
Thanks, Troy.
Operator
Thank you. Your next question is coming from Jim Ricchiuti from Needham & Company. Your line is now live.
Chris Grenga -- Needham and Company -- Analyst
Hi. Good morning. This is actually Chris Grenga on for Jim. Good morning.
Are you seeing any difference--
Jeff Graves -- President and Chief Executive Officer
Good morning.
Chris Grenga -- Needham and Company -- Analyst
Are you seeing any difference in demand trends across geographies? Any relative strengths or weaknesses that are worth considering there?
Jeff Graves -- President and Chief Executive Officer
No, it's -- we sell primarily into the U.S. and European markets, and I would say it's fairly uniform across both. I think they're both experiencing the same kind of economic ups and downs, and both geographies are exposed to the same geopolitical risks. So there's been no significant difference between them.
And we're seeing strength in outside -- again, outside of dental orthodontics, we're seeing strength across the board in both economies for our technologies.
Chris Grenga -- Needham and Company -- Analyst
And if you could, what rate of decline in dental did you see excluding the largest customer?
Michael Turner -- Executive Vice President, Chief Financial Officer
We don't typically break it out like that. I mean on the slide of the presentation, you can see that we've lumped all of dental together, and it was down. We quoted 46%, and we maintain our view that we'll be down 35% for the full year, just given my comments earlier that the dental had a particularly strong first half of 2022, followed by a weaker second half. So the comps in the first half will be a little more negative than they are gonna be in the second half.
Jeff Graves -- President and Chief Executive Officer
So just to give you a little bit more color to the -- clearly, our dental business, and I think the dental business for additive in total is really dominated right now by orthodontics. But that will be changing in the next several years here as printing really, I believe, transforms that industry in the movement in dentures, partial denture, and other dental implants, and things that are kind of in their infancy right now. But we expect that to be a nice growth driver over the next few years, and that technology has come along quite nicely. But today, as Michael pointed out, it's really dominated by orthodontics.
Chris Grenga -- Needham and Company -- Analyst
Great. Thanks. And just to confirm, the cost savings in connection with the restructuring initiative, those are all-in operating expense, correct?
Michael Turner -- Executive Vice President, Chief Financial Officer
No. There's -- I mean I would call it roughly 15% that are gonna be included in gross profit with the rest of opex.
Chris Grenga -- Needham and Company -- Analyst
Thanks very much. I'll take the rest offline.
Michael Turner -- Executive Vice President, Chief Financial Officer
All right. Thank you.
Jeff Graves -- President and Chief Executive Officer
Thanks, Chris.
Operator
Thank you. Your next question today is coming from Paul Chung from J.P. Morgan. Your line is now live.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Hi. Thanks for taking the question. So can you expand on how to think about the TE Connectivity kind of partnership? What the ramp there is? How material it can be doing the kind of very strong revenues in COGS you see at TE? Was this partnership kind of embedded in the initial guide given last quarter or kind of incremental or too early to tell?
Jeff Graves -- President and Chief Executive Officer
Yes, I would say it's embedded. And I would say it's still -- in terms of development and white-scale acceptance, it's still in early days. The reason -- there's a couple of reasons we're really excited about it. Number one, the -- just the basic logic behind moving to additive for connectors, and what I refer to as kind of the tail of their curve in terms of part types.
They literally make millions of different types of connectors, but there's a long tail on -- in terms of lower volume, high mix, complicated polymer connectors that additive really works well for, the economics really work out nicely for. And the limiting factor there has been No.1 throughput on the machines. And that's really gotten there, which is great. But also the materials development and process along with that, you have to have -- you have to print a very high precision, very reproducibly, and they have to be printed with special materials that are -- that have flame retardancy and other characteristics as blessed by the Underwriters Labs, UL.
So getting all of that correct has taken some time, and we're very close to having all of that finished up and be really moving into basically scaling development now with them as a partner. So that's why we jointly went public with our cooperative agreement. The ultimate potential for connectors is enormous. It could easily become a dominant revenue stream for us over the coming years.
The pace of adoption will take a few years to ramp. And they have factories all over the world to accommodate, which gets back to the reliability and robustness of fleets of printers. So the direction we're headed as a company is to address those markets, where you're installing tens or hundreds of printers. You link them together with intelligent software, and you put a high-value material through those printers to deliver value to the customer.
Those are the three legs of the stool that you have to get right. We've been working with TE for a number of years now, and it's gotten to the point of maturity where we both wanted to be very public about it, and we believe it's a great trend for the future. So it certainly has the potential to become a very large customer for us, a very large marketplace, and it's an excellent application and example of additive.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Great. And then on Wematter, can you expand on some of the details there, how that decision came about, where you're looking to kind of gain share, who the main competitors are in your view, and how you're positioned for the project in the U.S.? Any details on the installed base?
Jeff Graves -- President and Chief Executive Officer
Yes.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Yes, go ahead.
Jeff Graves -- President and Chief Executive Officer
I'm sorry, Paul. Go ahead and finish your question.
Paul Chung -- JPMorgan Chase and Company -- Analyst
No, just a comment on the revenue margin profile and any other details.
Jeff Graves -- President and Chief Executive Officer
Yeah, yeah. So any market -- I can tell you from a March standpoint, any market we're moving into now, we are -- we have a long-term goal of having 50% gross margins. And any market we move into with any technology has that potential. So I would tell you, we have every confidence that Wematter can live into that.
Their machine -- and I'm not sure if you were at the RAPID tradeshow or not. I'm told that you were.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Yeah.
Jeff Graves -- President and Chief Executive Officer
If you saw that unit, it is really a clever unit. It's got a small footprint, so it can go in factories of all sizes. And obviously, you can sell many of them that are a big factor, but you can also access smaller factories. It is very self-contained and has an excellent recycling capability that's kind of unique in the industry.
It has three times the build volume of other competitive products on the market, and there are very few of them today. There are very few products for that footprint that access that part of the market. It has three times the volume, the print volume is the leading competitor out there, and we can sell it very close to the same kind of price point. So we can access the same type of customer base.
So we are very bullish on that technology. And it's always a choice of make or buy in terms of spending your R&D money. This came along, and we initially signed up a selling agreement with them to market product, and it was so popular with our channel partners that we said this is a technology we really wanna own and run fast with. So we like it a lot.
It's an excellent group of engineers up in Sweden. Very smart guys that have done a really good job of getting this unit designed and built. And again, we can give you some more metrics on the machine itself as we publish them. But it's small, fast, and yet it's got a very big printing footprint, and the recycling capability is unmatched.
So it's really clever. So I'm very bullish on that entire value proposition. We've gotten the approvals we need, or they have gotten the approvals they needed in Europe to sell it. We're still working our way through the approvals in North America.
That's a matter of timing. So we'll get all those in hand. The deal closed in July, and our objective is to be in market as quickly as we can.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Great. And then lastly, on free cash flow. Where can we expect inventories to kind of shake out as we exit the year? Are there any kind of risk to write-downs there? And given kind of heavy investments in working cap last year, what are some levers to kind of drive some upside to guidance there? And capex guide as well would be helpful. Thank you.
Michael Turner -- Executive Vice President, Chief Financial Officer
Yeah. So thank you for the question. Yeah. So free cash flow, obviously, we have the build of inventory, the heavy investment in inventory in the second half of last year as we in-source into our Rockville, South Carolina facility.
We had to purchase inventory related to that. So obviously, we've got a pretty big lever to pull there as we work down to that inventory. I don't see a significant risk of any inventory write-offs. I mean we're constantly evaluating our inventory.
The age of that inventory is no real significant issues there. But yes, that is gonna be a big lever that we pull as we work down inventories, and we have a dedicated team working on that effort. So feel free to go about it.
Jeff Graves -- President and Chief Executive Officer
Paul, A big motivator to in-source that manufacturing was we just believe we can manage that supply chain much better ourselves. The inventory we had to buy when we did that transaction was large, and we're gonna burn our way through it this year. I think we've got a good plan to do that free up cash from inventory. To Michael's point, it's all good inventory.
It's virtually all good inventory. We expect very few write-offs, and we'll just convert it to cash over time.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Great. Thank you so much.
Jeff Graves -- President and Chief Executive Officer
Thanks, Paul.
Michael Turner -- Executive Vice President, Chief Financial Officer
Thank you.
Operator
Thank you. Next question is coming from Brian Drab from William Blair. Your line is now live.
Brian Drab -- William Blair and Company -- Analyst
Hey, thank you. I've had a really choppy signal for some reason, so I hope you can hear me. Can you talk at all about -- especially with the new agreement that you have signed or have in the works for Bio? When do you think that this is going to be a revenue-generating business? Are you getting any more visibility to that?
Jeff Graves -- President and Chief Executive Officer
Yeah, Brian. And by the way, you're coming through just fine. Yes, I was thrilled to get our first contract from a major pharmaceutical company, and it's one that everybody worldwide very aware of. It's a great endorsement of the technology, and we look forward to that collaboration.
It will stretch out for several years now. And the way those companies work, the first one is hard to land in a lot of bureaucracy, as you might imagine. So you work your way through that, and it's taken some time. We have several more in the pipeline that we're working hard on now.
I'd be disappointed if we didn't have a couple of more contracts this year. And along with that, I wish we could announce names and sizes. Hopefully, we'll be able to do that more in the future. All in all, clearly, we mentioned the investment we're making in that business and in our soft tissue business this year of $10 million to $12 million.
We expect to start generating revenue next year in Systemic Bio to start generating revenue next year. The revenue generated this year, we really haven't factored into our guidance. So there may be there may be some positive upside on that one, but we're mainly targeting it for next year. And then I think you'll see a fairly rapid climb to be cash flow breakeven and then growing from there.
That's the game plan.
Brian Drab -- William Blair and Company -- Analyst
OK. Thanks. And I know you answered some questions on Wematter, but I'm just not very familiar with the company. And I don't know if I missed it, but did you say what their installed base is? And is there any way you could comment, even like with the range, how much that acquisition cost? Or do we have to wait, I guess, maybe to the second quarter 10-Q?
Jeff Graves -- President and Chief Executive Officer
Yeah. It's -- we don't -- so a couple of comments on that, Brian. We don't expect any material -- we haven't modeled any material revenue in the business this year from those guys. We closed in July.
We're still working our way through the approval in the U.S., as I mentioned. And they are now, we will be, when we wrap up the deal. We didn't mention the investment. I would tell you, you can imagine it's a small kind of mature R&D-type investment.
In terms of the installed base, their customer feedback has been very positive, and our channel partner feedback. They do not have a huge installed base today. But when we look at their competitive position, we're very optimistic about how they'll do in the market. And there's clearly room for other players as well.
It's a big and growing market for small-footprint SLS for industrial applications. So we're bullish on them. They don't have a big installed base today. They've got some -- an excellent product and a couple of more coming, and we're excited about it.
In terms of the spend on it, it was modest. And certainly, we got there a lot faster and with less cost than we would have on our own in this case.
Brian Drab -- William Blair and Company -- Analyst
Got it. Yeah, I know that's a growing subsegment in the market, so it makes sense. I'll follow up more later. Thank you.
Jeff Graves -- President and Chief Executive Officer
Thanks, Brian.
Operator
Thank you. Next question today is coming from Shannon Cross from Credit Suisse.
Ashley Ellis -- Credit Suisse -- Analyst
Hi. Thank you. This is Ashley Ellis on for Shannon this morning. First, could I just clarify the restructuring savings targets? Are those net or gross?
Michael Turner -- Executive Vice President, Chief Financial Officer
Those would be -- you mean net of the -- of any severance or exit costs, Ashley? Is that what you're asking?
Ashley Ellis -- Credit Suisse -- Analyst
Well, are you expecting the majority to fall through to the bottom line?
Michael Turner -- Executive Vice President, Chief Financial Officer
Oh, yeah, yeah. The $4 million to $6 million range that we set for 2023, yes, we expect that to fall straight through to EBITDA.
Ashley Ellis -- Credit Suisse -- Analyst
OK. And then with the decision to manufacture more metal systems in-house, is that a result of kind of the success you've seen in Rock Hill? Or is that -- is it a different transaction? How should we think about capex and inventory for that?
Jeff Graves -- President and Chief Executive Officer
Yeah. It's a different location. So we've insourced metals. We were -- we manufacture our metal printers in Europe.
And we've insourced into Riom, France, an existing plant in Riom. So Riom will now make our small and mid-frame metal systems, and our large metal printing system is still outsourced in Belgium. So obviously, we model our savings based on doing that and much more control of our supply chain going into it. So again, I think it's a great move.
There should be modest inventory changes with that. It's -- we're taking from a very good manufacturer of the product outside. So it's not nearly the impact on inventories that we experienced with the prior insourcing in Rock Hill.
Ashley Ellis -- Credit Suisse -- Analyst
OK. Thanks for the details. And then I just wanted to better understand kind of the puts and takes for gross margin through the year. I know you pointed to 2021.
But if I look at 1Q '21 and what you did for the full year, it was a step-down and maybe that was due to some divestitures and stranded costs. But could you kind of help me bridge that from 39% to 42%?
Michael Turner -- Executive Vice President, Chief Financial Officer
Yeah, that's a great question, Ashley. And you're right, there's been nothing but choppiness and kind of confusion over the past two years as it relates to gross profit as we adjusted to the change of the macroeconomic conditions that we have some divestitures, so on and so forth. But in general, I think you should think about our gross profit margins. There's obviously a fixed component there.
So as we scale on the top line, we'll get some leverage in that gross profit margin. So the short answer here, I think, is that the gross profit margin that we turned in in Q1 was exactly in line with what we expected. And we kind of expect that to start stepping up kind of steadily as we progress through Q2, Q3, and then Q4 to settle out in that range of 40% to 42% for the full year. So it is -- I agree, it's difficult to look back at prior years and really understand the trends, but that's what you can expect for this year.
Ashley Ellis -- Credit Suisse -- Analyst
OK. Thank you very much for the details.
Jeff Graves -- President and Chief Executive Officer
Thanks, Ashley.
Michael Turner -- Executive Vice President, Chief Financial Officer
Thanks, Ashley.
Operator
Thank you. Your next question is coming from Greg Palm from Craig-Hallum. Your line is now live.
Greg Palm -- Craig-Hallum Capital Group -- Analyst
Hi. Good morning. Thanks. I appreciate the quarterly color this time around.
I'm just curious, if you think back to Q4 when you reported, and you didn't give this color, how did the quarter shake up relative to internal expectations? And I guess have you seen anything different these last months from customer behavior that gives you any sort of concern for the rest of the year?
Jeff Graves -- President and Chief Executive Officer
Yeah. That's a great question. I'll start out, and I'll let Jeff kind of fill in some blanks here. But we did mention in theearnings calland in our kind of prepared remarks last time that we would expect the unfolding of 2023 revenue by quarter to be very similar to 2021 revenue by quarter.
But to answer your question, if you would just kind of to do the math and you took, say, the midpoint of our guidance range and you applied it to that 2021 distribution, then yeah, I mean I think it's fair to say we fell toward the bottom end of the range but still above the bottom end of the range. Just -- that's just normal puts and takes in quarterly distribution. But as we commented, it came in roughly as expected. So no real surprises internally for us.
Michael Turner -- Executive Vice President, Chief Financial Officer
Yeah, Greg, if you looked at -- in terms of our internal estimates, I think the year is shaping up exactly as we had kind of thought it would in Q4. And I know it's always difficult externally to get the quarterization correct, but we were not surprised by Q1 performance. In fact, it's nice to see a degree of normalcy in terms of puts and takes. As Michael said, that's the normal noise within a quarter.
But nicely, the -- if anything floated out of the quarter, it was -- it's still in folks' plans, and it's still working its way through. I think the world is nervous, and so you see things -- you see purchase orders and things kind of dragging a little bit more as people are spending capex. The good news is they have the money to spend. That's encouraging to have, a clear need to spend it.
And they're just nervous, like all of us are, about the world situation and the economy. But it's -- we expect the year to unfold, as we would have told you in the fourth quarter when we did our earnings release for year-end. Second, we'll give another update in midyear. But right now, we feel pretty good about the guidance range on both revenue and EBITDA.
Greg Palm -- Craig-Hallum Capital Group -- Analyst
I guess I'm trying to tie up that commentary because it feels like we're sort of anything but normal this year. And obviously, the guidance assumes a much more heavily back half year and a pretty significant ramp in Q4. So what gives you the visibility now just given all of the uncertainties out there that you can sort of achieve normal seasonality as compared to 2021?
Jeff Graves -- President and Chief Executive Officer
It's -- well, I'd tell you, Greg, in this space, when you're selling into factories, into industrial environments, purchase orders aren't placed without a lot of prior discussion. So I would tell you, our revenue forecast is based on really solid, I'd call them, longer-term discussions around capital needs of our customers. And it generally is capex, it's not opex from our customer standpoint. And they talked to us a long time, do a lot of trials before they place a purchase order.
So we do have -- we may not get the timing exactly correct. But we do have a very good feel for purchase order forecast, what's in the pipeline, and what's coming. And you can always be surprised, and that's why we always give kind of a midyear update after Q2. That's probably a little bit more precise in the second half.
But I would tell you right now, and it's -- the world has anything been normal. But if you didn't know that, if you didn't open a newspaper, and you just looked at the business flow day-to-day, you'd say, "Oh, this feels pretty normal. It's not much out of the ordinary."
Michael Turner -- Executive Vice President, Chief Financial Officer
The only other thing I would add to that is kind of some fundamental pillars of our guidance we provided at the -- for year-end. We said that we expect dental to be down 35%, and we kind of pointed to mid-teens growth in the rest of the business. And we sit approximately right there today, right? We grew it a little over 12% in the rest of our business. So things from our perspective are coming in as planned.
I mean there's a lot of year left, and there's puts and takes with the rest of the lot of the year. But where we sit right now, we still feel really good about our outlook.
Greg Palm -- Craig-Hallum Capital Group -- Analyst
Yes. OK. I appreciate that. And then just last one, just a clarification, on the adjusted EBITDA guide.
Is that based on sort of the midpoint of the guide for the year? Or do you think you can achieve that even toward the lower end?
Michael Turner -- Executive Vice President, Chief Financial Officer
It's a great question, so let me just kind of walk you through it a little bit. We'll start at the midpoint. If you just take the midpoint of our guidance range and you again apply that 2021 distribution of revenue, and then you just kind of assume our Q1 opex and just on a non-GAAP basis, just for clarity, that's roughly $6.5 million. If you just assume that that runs out and then we've got a steady depreciation, add back of a little over $5 million, and then you drop in the midpoint of our savings range of $5 million, I mean that would get you in a range of, call it, $4 million to $6 million of EBITDA just at the midpoint.
So if you do that same math at the lower end of the range, you're gonna be in and around breakeven EBITDA. We saw plenty of levers left to pull if we go that direction. We're absolutely committed to hitting that $2 million number, and I think we just added more certainty to that with the actions that we've taken with the restructuring.
Greg Palm -- Craig-Hallum Capital Group -- Analyst
Understood. All right. Thanks.
Michael Turner -- Executive Vice President, Chief Financial Officer
Yeah, thank you.
Jeff Graves -- President and Chief Executive Officer
Thanks, Greg.
Operator
Thank you. Your next question is coming from Alek Valero from Loop Capital Markets. Your line is now live.
Alek Valero -- Loop Capital Markets -- Analyst
Hey, how's it going, guys? Good morning. Thanks for taking my question. It's actually Alek stepping in for Ananda. So my question is, so given the current cost savings programs that you guys announced last evening, how should we think about the right cost structure for the current revenue run rate? Are you guys there now? And additionally, if this is appropriate cost structure, can you guys maybe provide some context or some color around how we could think about operating leverage potential over the next few years?
Michael Turner -- Executive Vice President, Chief Financial Officer
Yeah, it's a great question. And thanks for asking, Alek. So I think the way I would answer that question is there's certainly a component of volume scale, and we've got the balance sheet to kind of weather the storm right now. And so we're preparing to see some steel growth over the next few years, which will get our operating expenses more in line with our target percentage of revenue.
So I think right now, we're a little higher than we wanna be. The restructuring efforts we just took, that were enabled by some of the optimizations that we put throughout the business. I think we'll help with that. So I think we're in the right ballpark.
But certainly, volume scale is a strong component of it as we move forward.
Alek Valero -- Loop Capital Markets -- Analyst
Awesome. Thanks for that. And just as a quick follow-up. Can you guys maybe update us on how you guys are thinking about M&A currently? And maybe like what areas of focus you guys are looking at?
Michael Turner -- Executive Vice President, Chief Financial Officer
From an M&A standpoint?
Jeff Graves -- President and Chief Executive Officer
M&A for us, M&A would be very -- for both of us is very modest, very opportunistic. There's -- we have a very robust internal development activity. And again, we spend an appropriate amount of money on both hardware, software, and materials as a key part of our investment strategy. We really have most of the assets we need.
Occasionally, you get something coming along like Wematter that we can plug in into a niche in the market. That is really a nice quick payback on the investment. But more and more, we're well suited to do that ourselves. The industry itself has been going through a lot of changes.
So I don't know on a larger scale what may come. But I feel great about our balance sheet. We've got well over $0.5 billion of cash on the balance sheet. We'll be EBITDA positive this year and cash flow -- free cash flow breakeven or better.
So we feel really good about our balance sheet should something come along that's of interest to us. But in terms of meeting anything, we're in pretty good shape. Does that answer your question, Alek?
Alek Valero -- Loop Capital Markets -- Analyst
It does. Very helpful. Thank you so much.
Jeff Graves -- President and Chief Executive Officer
You're welcome. Thanks.
Operator
Thank you. We reached the end of our question-and-answer session. I'd like to turn the floor back over to Jeff for any further or closing comments.
Jeff Graves -- President and Chief Executive Officer
Thanks, Kevin. So just a quick thanks to everybody for joining us this quarter. We look forward to updating you again after next quarter's results. Until then, be well, and thanks for calling in.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Mick McCloskey -- Vice President, Investor Relations
Jeff Graves -- President and Chief Executive Officer
Michael Turner -- Executive Vice President, Chief Financial Officer
Troy Jensen -- Lake Street Capital Markets -- Analyst
Chris Grenga -- Needham and Company -- Analyst
Paul Chung -- JPMorgan Chase and Company -- Analyst
Brian Drab -- William Blair and Company -- Analyst
Ashley Ellis -- Credit Suisse -- Analyst
Greg Palm -- Craig-Hallum Capital Group -- Analyst
Alek Valero -- Loop Capital Markets -- Analyst
More DDD analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool recommends 3d Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3d Systems (NYSE: DDD) Q1 2023 Earnings Call May 09, 2023, 8:30 a.m. Operator [Operator signoff] Duration: 0 minutes Call participants: Mick McCloskey -- Vice President, Investor Relations Jeff Graves -- President and Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Chris Grenga -- Needham and Company -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Brian Drab -- William Blair and Company -- Analyst Ashley Ellis -- Credit Suisse -- Analyst Greg Palm -- Craig-Hallum Capital Group -- Analyst Alek Valero -- Loop Capital Markets -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. The production solution illustrated on the right-hand side of Slide 5 comprises a modified Figure 4 modular printing platform, unique polymeric materials that have been the first known to pass the UL standards for flame retardancy, our 3D Sprint software, and our global services capability.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Mick McCloskey -- Vice President, Investor Relations Jeff Graves -- President and Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Chris Grenga -- Needham and Company -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Brian Drab -- William Blair and Company -- Analyst Ashley Ellis -- Credit Suisse -- Analyst Greg Palm -- Craig-Hallum Capital Group -- Analyst Alek Valero -- Loop Capital Markets -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3d Systems (NYSE: DDD) Q1 2023 Earnings Call May 09, 2023, 8:30 a.m. With me on today's call are Dr. Jeffrey Graves, our president and chief executive officer; Michael Turner, executive vice president and chief financial officer; and Andrew Johnson, executive vice president, chief corporate development officer, and chief legal officer.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Mick McCloskey -- Vice President, Investor Relations Jeff Graves -- President and Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Chris Grenga -- Needham and Company -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Brian Drab -- William Blair and Company -- Analyst Ashley Ellis -- Credit Suisse -- Analyst Greg Palm -- Craig-Hallum Capital Group -- Analyst Alek Valero -- Loop Capital Markets -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3d Systems (NYSE: DDD) Q1 2023 Earnings Call May 09, 2023, 8:30 a.m. With me on today's call are Dr. Jeffrey Graves, our president and chief executive officer; Michael Turner, executive vice president and chief financial officer; and Andrew Johnson, executive vice president, chief corporate development officer, and chief legal officer.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Mick McCloskey -- Vice President, Investor Relations Jeff Graves -- President and Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Chris Grenga -- Needham and Company -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Brian Drab -- William Blair and Company -- Analyst Ashley Ellis -- Credit Suisse -- Analyst Greg Palm -- Craig-Hallum Capital Group -- Analyst Alek Valero -- Loop Capital Markets -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3d Systems (NYSE: DDD) Q1 2023 Earnings Call May 09, 2023, 8:30 a.m. As a result of this most recent phase of our restructuring initiative and our unchanged views on the fundamental drivers of demand growth, we are raising our full-year 2023 adjusted EBITDA guidance to $2 million or better and reaffirming our guidance for revenues, which we continue to believe will be in the range of $545 million to $575 million; non-GAAP gross profit margins, which we continue to expect to be in the range of 40% to 42%; and free cash flow, which we expect to be breakeven or better in 2023.
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2023-05-09 00:00:00 UTC
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3D Systems Stock Drops as Weak Dental Market Takes a Bite Out of Q1 Growth
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Shares of 3D Systems (NYSE: DDD) fell 11.7% in Monday's after-hours trading session, following the 3D printing company's release of its first-quarter 2023 results. The stock's decline is largely attributable to the quarter's revenue and adjusted earnings missing the analyst consensus estimates.
As to 2023 guidance, management reiterated its annual outlook for revenue and free cash flow and increased its expectation for the profitability metric that it provides. However, absent the upcoming layoffs announced on Monday, it seems highly unlikely that management would have raised its guidance for the profitability metric. These layoffs will reduce costs and, thus, should boost earnings.
3D Systems' stock performance on Tuesday will likely not only be influenced by the earnings report, but also by information that management shares on the analystearnings call This call is scheduled for Tuesday at 8:30 a.m. ET.
3D Systems' key metrics
METRIC Q1 2022 Q1 2023 CHANGE
Revenue $133.0 million $121.2 million (8.8%)
GAAP operating income ($23.2 million) ($33.4 million) Loss widened 44%
GAAP net income ($26.8 million) ($29.4 million)
Loss widened 10%
GAAP earnings per share (EPS) ($0.21) ($0.23) Loss widened 10%
Adjusted EPS ($0.06) ($0.09) Loss widened 50%
Data source: 3D Systems. GAAP = generally accepted accounting principles.
Revenue declined 6.5% year over year, excluding the impact of foreign exchange rates. Investors should focus on the adjusted EPS, which excludes one-time items.
Wall Street was looking for revenue of $128 million and adjusted loss per share of $0.07. So the company fell short of both expectations.
GAAP gross margin was 38.8%, down from 40.4% in the year-ago quarter. Adjusted gross margin was 39%, down from 40.6% in the same period last year. The company attributed these declines primarily to input cost inflation and product mix.
In the first quarter, 3D Systems used cash of $27.7 million running its operations, compared with using cash of $15.1 million in the year-ago period. It ended the period with cash and short-term investments of $529.9 million and long-term debt of $450.2 million.
Segment results
SEGMENT Q1 2023 REVENUE CHANGE YOY CHANGE IN CONSTANT CURRENCY YOY
Industrial $72.5 million 5.6% 9.3%
Healthcare $48.7 million (24%) (23%)
Total $121.2 million (8.8%) (6.5%)
Data source: 3D Systems. YOY = year over year.
The healthcare segment's results were significantly hurt by the poor performance of the company's dental business -- specifically, its sizable dental orthodontic business, whose revenue plunged 46% year over year. The uncertain macroeconomic environment has dampened demand for elective dental procedures.
Excluding the dental business, the healthcare segment's revenue jumped 22% in constant currency and total revenue grew 12% in constant currency.
CEO Jeffrey Graves said in the earnings release that industrial segment revenue growth was driven by the commercial rocketry and aerospace propulsion, industrial products, and consumer goods markets.
Layoffs
3D Systems announced that its "next evolution of restructuring" will reduce its workforce by about 6%. Most of the layoffs will be in its corporate and business support functions and most will occur in the second quarter.
The company expects this move to decrease operating expenses by about $4 million to $6 million in 2023 and to provide annualized savings of approximately $9 million to $11 million beginning in 2024. It plans to incur cash charges in the range of $3.5 million to $4.5 million for severance-related costs during 2023.
2023 guidance revised
Management reiterated its 2023 guidance for revenue and free cash flow and increased its outlook for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).
METRIC 2022 RESULT
PRIOR 2023 GUIDANCE (SET IN LATE FEBRUARY)
CURRENT 2023 GUIDANCE ANNUAL CHANGE IMPLIED BY CURRENT GUIDANCE*
Revenue $538 million $545 million to $575 million $545 million to $575 million 1% to 7%
Adjusted gross margin 39.8% 40% to 42% 40% to 42% Increase of 0.2 to 2.2 percentage points
Adjusted EBITDA $5.8 million Breakeven or better $2 million or better
(66%) or better
Free cash flow
($90.9 million)
Breakeven or better Breakeven or better Flip to positive from negative
Data source: 3D Systems. *Calculations by author.
Excluding the dental business, revenue growth was solid
3D Systems' Q1 report was far from a good one. However, given the challenging macro environment, the company did a decent job limiting the downside. The dental business significantly dragged down overall results. Excluding this business, revenue grew 12% year over year in constant currency.
Investors will want to see the company start generating positive cash flows. Remember, "earnings" is simply an accounting metric, whereas cash flows actually measure how much cash a company is generating running its operations (operating cash flow) and how much cash it has left after investing in growth initiatives (free cash flow).
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Beth McKenna has no position in any of the stocks mentioned. The Motley Fool recommends 3d Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of 3D Systems (NYSE: DDD) fell 11.7% in Monday's after-hours trading session, following the 3D printing company's release of its first-quarter 2023 results. The stock's decline is largely attributable to the quarter's revenue and adjusted earnings missing the analyst consensus estimates. As to 2023 guidance, management reiterated its annual outlook for revenue and free cash flow and increased its expectation for the profitability metric that it provides.
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Shares of 3D Systems (NYSE: DDD) fell 11.7% in Monday's after-hours trading session, following the 3D printing company's release of its first-quarter 2023 results. Revenue $133.0 million $121.2 million (8.8%) GAAP operating income ($23.2 million) ($33.4 million) Loss widened 44% GAAP net income ($26.8 million) ($29.4 million) Loss widened 10% GAAP earnings per share (EPS) ($0.21) ($0.23) Loss widened 10% Adjusted EPS ($0.06) ($0.09) Loss widened 50% Data source: 3D Systems. Industrial $72.5 million 5.6% 9.3% Healthcare $48.7 million (24%) (23%) Total $121.2 million (8.8%) (6.5%) Data source: 3D Systems.
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Shares of 3D Systems (NYSE: DDD) fell 11.7% in Monday's after-hours trading session, following the 3D printing company's release of its first-quarter 2023 results. Revenue $133.0 million $121.2 million (8.8%) GAAP operating income ($23.2 million) ($33.4 million) Loss widened 44% GAAP net income ($26.8 million) ($29.4 million) Loss widened 10% GAAP earnings per share (EPS) ($0.21) ($0.23) Loss widened 10% Adjusted EPS ($0.06) ($0.09) Loss widened 50% Data source: 3D Systems. Revenue $538 million $545 million to $575 million $545 million to $575 million 1% to 7% Adjusted gross margin 39.8% 40% to 42% 40% to 42% Increase of 0.2 to 2.2 percentage points Adjusted EBITDA $5.8 million Breakeven or better $2 million or better (66%) or better Free cash flow ($90.9 million) Breakeven or better Breakeven or better Flip to positive from negative Data source: 3D Systems.
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Shares of 3D Systems (NYSE: DDD) fell 11.7% in Monday's after-hours trading session, following the 3D printing company's release of its first-quarter 2023 results. As to 2023 guidance, management reiterated its annual outlook for revenue and free cash flow and increased its expectation for the profitability metric that it provides. Revenue $538 million $545 million to $575 million $545 million to $575 million 1% to 7% Adjusted gross margin 39.8% 40% to 42% 40% to 42% Increase of 0.2 to 2.2 percentage points Adjusted EBITDA $5.8 million Breakeven or better $2 million or better (66%) or better Free cash flow ($90.9 million) Breakeven or better Breakeven or better Flip to positive from negative Data source: 3D Systems.
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2023-05-09 00:00:00 UTC
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3D Systems (DDD) Q1 Loss Wider Than Expected, Sales Down Y/Y
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https://www.nasdaq.com/articles/3d-systems-ddd-q1-loss-wider-than-expected-sales-down-y-y
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3D Systems DDD reported first-quarter 2023 non-GAAP loss of 9 cents per share, wider than the Zacks Consensus Estimate of a loss of 8 cents. The bottom line came in wider than the prior-year quarter’s loss of 6 cents per share.
In the first quarter of 2023, 3D Systems reported revenues of $121.2 million, down 8.8% from the year-ago quarter, which missed the consensus mark of $130.4 million. Excluding the impact of business divestments in 2023 and on a constant currency basis, revenues decreased 6.5% year over year.
3D Systems’ first-quarter performance reflected the impacts of inflationary pressure and foreign exchange risks, among other ongoing macroeconomic constraints.
3D Systems Corporation Price, Consensus and EPS Surprise
3D Systems Corporation price-consensus-eps-surprise-chart | 3D Systems Corporation Quote
Q1 in Detail
In the first quarter, product revenues represented 69.6% of the total revenues and decreased 16.1% to $84.4 million. Revenues from Services, which accounted for 30.4% of revenues, climbed 13.6% year over year to $36.8 million.
Revenues from the Healthcare segment fell 24.3% year over year to $48.7 million. The figure decreased 19.8% from the prior quarter. Excluding the impact of business divestments, the segment’s revenues decreased 23.4% year over year.
The Industrial Division revenues increased 5.6% year over year to $72.5 million while it went up by 0.7% sequentially. Excluding the impact of business divestments, the unit’s revenues increased 9.3%. The unit witnessed solid demand for products as well as materials.
During the first quarter of 2023, 3D Systems’ non-GAAP gross profit decreased 12.4% year over year to $47.2 million. Consequently, the non-GAAP gross profit margin contracted 160 basis points to 39%. This decrease was because of year-over-year product mix changes, due to divestitures and increased supply chain disruptions.
Adjusted EBITDA was negative $10.1 million. The margin of negative 8.3% reflected the inflationary impact on input costs and gradual investments for portfolio & business growth.
Balance Sheet Details
The company exited the first quarter with cash, cash equivalents and short-term investments of $529.9 million, lower than the prior quarter's $568.7 million. As of Mar 31, 2023, 3D Systems had a total debt of $450.2 million, up from the previous quarter’s $449.5 million.
In first-quarter 2023, the company utilized $27.7 million of cash from operational activities.
Guidance
3D Systems expects 2023 revenues between $545 million and $575 million.
The company projects non-GAAP gross margin to be 40-42%.
Zacks Rank & Key Picks
3D Systems currently carries a Zacks Rank #3 (Hold). Shares of DDD have lost 11.2% over the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Meta Platforms META, Momo MOMO and ServiceNow NOW. While Meta Platforms and Momo sport a Zacks Rank #1 (Strong Buy), ServiceNow carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Meta Platforms' second-quarter 2023 earnings has been revised 14% upward to $2.79 per share over the past 30 days. For 2023, earnings estimates have moved north by 12.1% to $11.76 in the past 30 days.
META’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing twice, the average surprise being 15.5%. Shares of the company have gained 18.6% in the past year.
The Zacks Consensus Estimate for Momo’s first-quarter 2023 earnings has been revised southward from 36 cents to 32 cents per share over the past 30 days. For 2023, earnings estimates have moved down by 3 cents to $1.55 in the past 30 days.
MOMO's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 31.9%. Shares of the company have gained 71% in the past year.
The Zacks Consensus Estimate for ServiceNow’s second-quarter 2023 earnings has been revised northward by 11 cents to $2.04 per share over the past 30 days. For 2023, earnings estimates have moved up by 39 cents to $9.54 in the past 30 days.
NOW's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 10.4%. Shares of the company have inched up 3.1% in the past year.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD reported first-quarter 2023 non-GAAP loss of 9 cents per share, wider than the Zacks Consensus Estimate of a loss of 8 cents. Shares of DDD have lost 11.2% over the past year. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report ServiceNow, Inc. (NOW) : Free Stock Analysis Report Hello Group Inc.
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3D Systems DDD reported first-quarter 2023 non-GAAP loss of 9 cents per share, wider than the Zacks Consensus Estimate of a loss of 8 cents. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report ServiceNow, Inc. (NOW) : Free Stock Analysis Report Hello Group Inc. Shares of DDD have lost 11.2% over the past year.
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3D Systems DDD reported first-quarter 2023 non-GAAP loss of 9 cents per share, wider than the Zacks Consensus Estimate of a loss of 8 cents. Shares of DDD have lost 11.2% over the past year. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report ServiceNow, Inc. (NOW) : Free Stock Analysis Report Hello Group Inc.
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3D Systems DDD reported first-quarter 2023 non-GAAP loss of 9 cents per share, wider than the Zacks Consensus Estimate of a loss of 8 cents. Shares of DDD have lost 11.2% over the past year. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report ServiceNow, Inc. (NOW) : Free Stock Analysis Report Hello Group Inc.
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2023-05-08 00:00:00 UTC
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3D Systems (DDD) Reports Q1 Loss, Misses Revenue Estimates
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https://www.nasdaq.com/articles/3d-systems-ddd-reports-q1-loss-misses-revenue-estimates
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3D Systems (DDD) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -12.50%. A quarter ago, it was expected that this maker of 3D printers would post a loss of $0.08 per share when it actually produced a loss of $0.06, delivering a surprise of 25%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
3D Systems, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $121.24 million for the quarter ended March 2023, missing the Zacks Consensus Estimate by 7.02%. This compares to year-ago revenues of $133 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
3D Systems shares have added about 23.4% since the beginning of the year versus the S&P 500's gain of 7.7%.
What's Next for 3D Systems?
While 3D Systems has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for 3D Systems: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.06 on $143.71 million in revenues for the coming quarter and -$0.21 on $555.65 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Mini computers is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, HP (HPQ), has yet to report results for the quarter ended April 2023.
This personal computer and printer maker is expected to post quarterly earnings of $0.76 per share in its upcoming report, which represents a year-over-year change of -29.6%. The consensus EPS estimate for the quarter has been revised 2.6% higher over the last 30 days to the current level.
HP's revenues are expected to be $13.21 billion, down 19.9% from the year-ago quarter.
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3D Systems Corporation (DDD) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (DDD) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.08. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report To read this article on Zacks.com click here. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems (DDD) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.08. 3D Systems, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $121.24 million for the quarter ended March 2023, missing the Zacks Consensus Estimate by 7.02%.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems (DDD) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.08. 3D Systems, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $121.24 million for the quarter ended March 2023, missing the Zacks Consensus Estimate by 7.02%.
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3D Systems (DDD) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.08. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report To read this article on Zacks.com click here. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
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2023-05-04 00:00:00 UTC
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Apple (AAPL) Q2 Earnings and Revenues Beat Estimates
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https://www.nasdaq.com/articles/apple-aapl-q2-earnings-and-revenues-beat-estimates
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Apple (AAPL) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.44 per share. This compares to earnings of $1.52 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 5.56%. A quarter ago, it was expected that this maker of iPhones, iPads and other products would post earnings of $1.93 per share when it actually produced earnings of $1.88, delivering a surprise of -2.59%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Apple, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $94.84 billion for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 1.63%. This compares to year-ago revenues of $97.28 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Apple shares have added about 28.9% since the beginning of the year versus the S&P 500's gain of 6.5%.
What's Next for Apple?
While Apple has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Apple: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.21 on $84.11 billion in revenues for the coming quarter and $6.01 on $387.99 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Mini computers is currently in the top 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, 3D Systems (DDD), has yet to report results for the quarter ended March 2023. The results are expected to be released on May 8.
This maker of 3D printers is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -33.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
3D Systems' revenues are expected to be $130.38 million, down 2% from the year-ago quarter.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Apple Inc. (AAPL) : Free Stock Analysis Report
3D Systems Corporation (DDD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Another stock from the same industry, 3D Systems (DDD), has yet to report results for the quarter ended March 2023. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Another stock from the same industry, 3D Systems (DDD), has yet to report results for the quarter ended March 2023. Apple, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $94.84 billion for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 1.63%.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Another stock from the same industry, 3D Systems (DDD), has yet to report results for the quarter ended March 2023. Apple (AAPL) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.44 per share.
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Another stock from the same industry, 3D Systems (DDD), has yet to report results for the quarter ended March 2023. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple (AAPL) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.44 per share.
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1ef278e0-db06-4bcf-afae-01f7f0012792
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716441.0
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2023-04-26 00:00:00 UTC
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Unusual Call Option Trade in 3D Systems (DDD) Worth $12.68K
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DDD
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https://www.nasdaq.com/articles/unusual-call-option-trade-in-3d-systems-ddd-worth-%2412.68k
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nan
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nan
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On April 26, 2023 at 11:44:40 ET an unusually large $12.68K block of Call contracts in 3D Systems (DDD) was sold, with a strike price of $10.00 / share, expiring in 23 day(s) (on May 19, 2023).
This trade was first picked up on Fintel's real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 474 funds or institutions reporting positions in 3D Systems. This is a decrease of 16 owner(s) or 3.27% in the last quarter. Average portfolio weight of all funds dedicated to DDD is 0.17%, an increase of 98.45%. Total shares owned by institutions decreased in the last three months by 1.08% to 104,858K shares.
The put/call ratio of DDD is 0.97, indicating a bullish outlook.
Analyst Price Forecast Suggests 10.11% Upside
As of April 24, 2023, the average one-year price target for 3D Systems is $9.69. The forecasts range from a low of $7.07 to a high of $13.65. The average price target represents an increase of 10.11% from its latest reported closing price of $8.80.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for 3D Systems is $569MM, an increase of 5.81%. The projected annual non-GAAP EPS is -$0.15.
What are Other Shareholders Doing?
Vanguard Group holds 13,839K shares representing 10.62% ownership of the company. In it's prior filing, the firm reported owning 13,483K shares, representing an increase of 2.57%. The firm decreased its portfolio allocation in DDD by 11.89% over the last quarter.
Renaissance Technologies holds 72K shares representing 0.06% ownership of the company. In it's prior filing, the firm reported owning 646K shares, representing a decrease of 799.44%. The firm decreased its portfolio allocation in DDD by 90.02% over the last quarter.
Atria Wealth Solutions holds 17K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 18K shares, representing a decrease of 7.48%. The firm decreased its portfolio allocation in DDD by 20.84% over the last quarter.
QUANTITATIVE MASTER SERIES LLC - Master Small Cap Index Series holds 200K shares representing 0.15% ownership of the company. In it's prior filing, the firm reported owning 205K shares, representing a decrease of 2.29%. The firm decreased its portfolio allocation in DDD by 12.95% over the last quarter.
XSHQ - Invesco S&P SmallCap Quality ETF holds 14K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 16K shares, representing a decrease of 8.87%. The firm decreased its portfolio allocation in DDD by 7.75% over the last quarter.
3D Systems Background Information
(This description is provided by the company.)
More than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading Additive Manufacturing solutions partner, it brings innovation, performance, and reliability to every interaction - empowering its customers to create products and business models never before possible. Thanks to its unique offering of hardware, software, materials and services, each application-specific solution is powered by the expertise of its application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems' solutions address a variety of advanced applications in Healthcare and Industrial markets such as Medical and Dental, Aerospace & Defense, Automotive and Durable Goods.
See all 3D Systems regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On April 26, 2023 at 11:44:40 ET an unusually large $12.68K block of Call contracts in 3D Systems (DDD) was sold, with a strike price of $10.00 / share, expiring in 23 day(s) (on May 19, 2023). Average portfolio weight of all funds dedicated to DDD is 0.17%, an increase of 98.45%. The put/call ratio of DDD is 0.97, indicating a bullish outlook.
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On April 26, 2023 at 11:44:40 ET an unusually large $12.68K block of Call contracts in 3D Systems (DDD) was sold, with a strike price of $10.00 / share, expiring in 23 day(s) (on May 19, 2023). Average portfolio weight of all funds dedicated to DDD is 0.17%, an increase of 98.45%. The put/call ratio of DDD is 0.97, indicating a bullish outlook.
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On April 26, 2023 at 11:44:40 ET an unusually large $12.68K block of Call contracts in 3D Systems (DDD) was sold, with a strike price of $10.00 / share, expiring in 23 day(s) (on May 19, 2023). Average portfolio weight of all funds dedicated to DDD is 0.17%, an increase of 98.45%. The put/call ratio of DDD is 0.97, indicating a bullish outlook.
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On April 26, 2023 at 11:44:40 ET an unusually large $12.68K block of Call contracts in 3D Systems (DDD) was sold, with a strike price of $10.00 / share, expiring in 23 day(s) (on May 19, 2023). Average portfolio weight of all funds dedicated to DDD is 0.17%, an increase of 98.45%. The put/call ratio of DDD is 0.97, indicating a bullish outlook.
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2dcd29a8-88f9-4a62-8de9-979fd799120b
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716442.0
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2023-04-24 00:00:00 UTC
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Will Stratasys Continue to be a Runaway Bride?
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DDD
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https://www.nasdaq.com/articles/will-stratasys-continue-to-be-a-runaway-bride
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nan
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nan
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The 3D printing technology trend may be in the early stages of industrial application despite its earlier boom-and-busted hype cycle. Leading polymer 3D printing solutions provider Stratasys Ltd. (NASDAQ: SSYS) has rejected three offers from Nano Dimension Ltd. (NASDAQ: NMDN). Stratasys felt the unsolicited offer prices needed to be higher and doubted the validity of the offers. This is a case of David trying to acquire Goliath, as Stratasys does 10 times more revenues than Nano Dimension. The rejection of the unsolicited offers has depressed shares of Stratasys and competitor 3D Systems Corp. (NASDAQ: DDD). However, Nano Dimension remains committed to a takeover of Stratasys, hostile or not.
Nano Who?
Nano Dimension specializes in developing and producing additive manufacturing systems — 3D printing systems using deep learning artificial intelligence (AI) to drive improvements. Its essential product is its DragonFly Lights-Out Digital Manufacturing system (LDM), a 3D printer focused on creating multilayered printed circuit boards (PCBs) and electronic components. The company has over 2,000 clients and expected quarter one 2023 revenues of $14.6 million. Stratasys had a Q4 2022 GAAP loss of $2.4 million on $159.3 million in revenues, down 4.6% year-over-year (YoY). Unfavorable FX headwinds and economic conditions caused printer sales to fall (5.6%) YoY causing gross margins to tumble to 55.3%. Stratasys divested its desktop 3D printer subsidiary MakerBot in a merger with Ultimaker. Stratasys will own a 46.5% stake in the combined companies.
Knock, Knock
On March 10, 2023, Nano Dimension approached Stratasys with an $18 per share ($1.1 billion) all-cash offer. The offer was rejected by Stratasys, citing that the price severely undervalues the company. Nano Dimension raised its takeover offer to $19.55 on March 29, 2023, acquiring the remaining shares it doesn't own for $1.2 billion. Stratasys again rejected the offer. Nano Dimension returned with a "best and final offer" of $20.05 per share on April 5, 2023, which was rejected two weeks later.
Tender Offer Coming
Nano Dimension announced it was committed to acquiring Stratasys and preparing a special $18 per share tender offer to acquire at least 51% of Stratasys' outstanding shares, inclusive of the 14.5% of shares it already owns. the company was still willing to negotiate in good faith for a $20.05 per share transaction, but rejection will force Nano Dimension's hand to move forward with the $18 per share tender offer to shareholders. On April 13, 2023, the board of Stratasys rejected the final offer as it “substantially undervalues” the company.
Nano Dimension vs. Murchinson Ltd.
Stratasys also doubts Nano Dimension has the authority to follow through with the takeover proposal, as it is embroiled in a fight with its largest shareholder institutional asset management firm, Murchinson Ltd. Murchinson seeks to replace four board of director seats and oust the current CEO Yoav Stern. The CEO is at the center of the value destruction of its shares, and "that risk is worth accepting due to the urgency of the situation and the possibility of more value destruction under his continued guidance." They argue that the company trades at a 40% discount on its cash per share.
Analysts Chime in
Stifel analyst Noelle Dilts believes the $20.05 still undervalues shares of Stratasys. She points out that the $20.05 per share offer reflects 1.69 times of revenue compared to peer 3D Systems, already trading at 2.3 times consensus 2023 EV/revenue. Stifel has a "buy" rating on SSYS with an $18.50 price target. Find Stratasys analyst ratings and price targets on MarketBeat.
Weekly Ascending Triangle
The weekly candlestick chart on SSYS illustrates an ascending triangle formed after making a bottom at $11.04 in December 2022. The stock triggered the weekly market structure low (MSL) buy trigger on the breakout through $13.54. Shares made consecutive higher lows to break the flat top resistance trendline at $16.55. The rejection of the $20.05 offer from Nano Dimensions has caused shares to soften but remain in the ascending triangle if it can stay above the rising lower trendline of higher lows. The weekly 50-period moving average (MA) coincides with the rising trendline at $15.70. The weekly stochastic has peaked at the 80-band. Pullback support levels are $14.53, $13.54 weekly MSL trigger, $12.88 and $12.45.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The rejection of the unsolicited offers has depressed shares of Stratasys and competitor 3D Systems Corp. (NASDAQ: DDD). Its essential product is its DragonFly Lights-Out Digital Manufacturing system (LDM), a 3D printer focused on creating multilayered printed circuit boards (PCBs) and electronic components. Nano Dimension raised its takeover offer to $19.55 on March 29, 2023, acquiring the remaining shares it doesn't own for $1.2 billion.
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The rejection of the unsolicited offers has depressed shares of Stratasys and competitor 3D Systems Corp. (NASDAQ: DDD). Leading polymer 3D printing solutions provider Stratasys Ltd. (NASDAQ: SSYS) has rejected three offers from Nano Dimension Ltd. (NASDAQ: NMDN). Tender Offer Coming Nano Dimension announced it was committed to acquiring Stratasys and preparing a special $18 per share tender offer to acquire at least 51% of Stratasys' outstanding shares, inclusive of the 14.5% of shares it already owns.
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The rejection of the unsolicited offers has depressed shares of Stratasys and competitor 3D Systems Corp. (NASDAQ: DDD). Tender Offer Coming Nano Dimension announced it was committed to acquiring Stratasys and preparing a special $18 per share tender offer to acquire at least 51% of Stratasys' outstanding shares, inclusive of the 14.5% of shares it already owns. the company was still willing to negotiate in good faith for a $20.05 per share transaction, but rejection will force Nano Dimension's hand to move forward with the $18 per share tender offer to shareholders.
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The rejection of the unsolicited offers has depressed shares of Stratasys and competitor 3D Systems Corp. (NASDAQ: DDD). Nano Who? Nano Dimension returned with a "best and final offer" of $20.05 per share on April 5, 2023, which was rejected two weeks later.
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3a8c8600-b892-40da-b51c-2219c2b58125
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716443.0
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2023-04-24 00:00:00 UTC
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3D Systems (DDD) Verifies NASA's ODS Alloy GRX-810 Properties
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-verifies-nasas-ods-alloy-grx-810-properties
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nan
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nan
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3D Systems DDD recently announced that it has successfully verified the properties of National Aeronautics and Space Administration’s (“NASA”) Alloy GRX-810, an oxide dispersion strengthened (“ODS”) alloy.
Developed through 3D printing process, the new metal alloy GRX-810 can endure temperatures more than 2,000 degrees Fahrenheit, is more malleable and can survive over 1,000 times longer than existing state-of-the-art alloys. It is ideal for harsh aerospace applications like usage in building parts of aircraft, rocket engines, turbine blades and exhaust nozzle components. The laser powder bed fusion super alloy provides an exceptional combination of strength, ductility, creep life and heat resistance.
The company utilized its direct metal printing platform and materials provided by NASA to process and test the mechanical properties of GRX-810. 3D Systems’ aerospace & defense segment vice president, Dr. Michael Shepard, stated "Our work with this material provided by NASA underscores our commitment to pushing the boundaries of additive manufacturing and enabling the production of next-generation aerospace components. We are thrilled to be part of the early stages of this exciting development and look forward to unlocking new possibilities with GRX-810."
3D Systems is anticipating material science to be a key driver in the transition to 3D production. It is investing large sums in material innovation across its portfolio to capitalize on this trend.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
Going forward, 3D Systems expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings. Few days ago, it revealed that the University Hospital of Salzburg in Austria has successfully implemented the company’s Kumovis R1 printer and DDD subsidiary, Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need.
In March, 3D Systems collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
Designed under the partnership of the company’s Application Innovation Group and TE Connectivity’s team to meet TEL’s material performance and high tolerance requirements, the newly developed solution leverages 3D Systems’ Figure 4 Modular, Figure 4 material and 3D Sprint software solution & services. The solution is the first known printable photopolymer to complete a UL1-recognized long-term thermal aging study.
Through a separate deal in the same month, DDD expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer. In March, Oqton, a wholly-owned and independently operated subsidiary of the additive manufacturer, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
Per the agreement, the two companies will combine the expertise in engineering and manufacturing skills to transform the way products are brought to the market in highly regulated industries like energy, aerospace and healthcare. Baker Hughes intends to integrate Oqton’s Manufacturing Operating System into its proprietary applications creating an enhanced additive manufacturing platform that will accelerate innovation in energy sector.
Zacks Ranks & Stock to Consider
Currently, 3D Systems and Baker Hughes carry a Zacks Rank #3 (Hold), while TE Connectivity has a Zacks Rank #4 (Sell). Shares of DDD and BKR have plunged 33.6% and 3.6%, respectively, while TEL climbed 3.2% in the past year.
A better-ranked stock from the broader Computer and Technology sector is Meta Platforms META, flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Meta Platforms' first-quarter 2023 earnings has been revised a penny downward to $1.96 per share over the past seven days. For fiscal 2023, earnings estimates have moved south by 2 cents to $10.24 in the past seven days.
META’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing twice, the average surprise being 8.6%. Shares of the company have gained 13.8% in the past year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
TE Connectivity Ltd. (TEL) : Free Stock Analysis Report
3D Systems Corporation (DDD) : Free Stock Analysis Report
Baker Hughes Company (BKR) : Free Stock Analysis Report
Meta Platforms, Inc. (META) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Few days ago, it revealed that the University Hospital of Salzburg in Austria has successfully implemented the company’s Kumovis R1 printer and DDD subsidiary, Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need. 3D Systems DDD recently announced that it has successfully verified the properties of National Aeronautics and Space Administration’s (“NASA”) Alloy GRX-810, an oxide dispersion strengthened (“ODS”) alloy. Through a separate deal in the same month, DDD expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer.
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Click to get this free report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently announced that it has successfully verified the properties of National Aeronautics and Space Administration’s (“NASA”) Alloy GRX-810, an oxide dispersion strengthened (“ODS”) alloy. Few days ago, it revealed that the University Hospital of Salzburg in Austria has successfully implemented the company’s Kumovis R1 printer and DDD subsidiary, Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need.
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Click to get this free report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently announced that it has successfully verified the properties of National Aeronautics and Space Administration’s (“NASA”) Alloy GRX-810, an oxide dispersion strengthened (“ODS”) alloy. Few days ago, it revealed that the University Hospital of Salzburg in Austria has successfully implemented the company’s Kumovis R1 printer and DDD subsidiary, Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need.
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3D Systems DDD recently announced that it has successfully verified the properties of National Aeronautics and Space Administration’s (“NASA”) Alloy GRX-810, an oxide dispersion strengthened (“ODS”) alloy. Few days ago, it revealed that the University Hospital of Salzburg in Austria has successfully implemented the company’s Kumovis R1 printer and DDD subsidiary, Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need. Through a separate deal in the same month, DDD expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer.
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2fbf7246-dcf0-46c3-a049-135ecfa4152d
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716444.0
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2023-04-21 00:00:00 UTC
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3D Systems' (DDD) Tech Used for Customized Cranial Implant
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-tech-used-for-customized-cranial-implant
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nan
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nan
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3D Systems DDD recently revealed that the University Hospital of Salzburg in Austria has successfully implemented the company’s Kumovis R1 printer and DDD subsidiary Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need.
The hospital’s in-house clinicians and surgeons combined these point-of-care additive manufacturing technologies of 3D Systems to produce a 3D-printed PEEK cranial implant as a custom device. They created 3D models from Rainer Trummer’s computed tomography scan images by utilizing Oqton D2P software. They used Oqton Geomagic Freeform solution to complete the design of the 55-year-old patient’s occipital prosthesis.
Evonik Industries AG’s VESTAKEEP i4 3DF PEEK filament, an implantable high-performance plastic, was used for printing the cranial implant on 3D Systems’ Kumovis R1 extrusion platform. The total process took around 10 hours for getting completed.
Rainer Trummer, a computer scientist by profession, has been suffering from craniosynostosis (a birth skull deformity defect). He received the successfully manufactured 3D-printed PEEK cranial implant.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
3D Systems’ Kumovis R1 is a 3D printing medical device that can make implants by using plastic materials such as poly ether ether ketone, polyphenylsulfone, polyether imide and poly ether ketone ketone while retaining the original mechanical properties. It was specifically designed to enable point-of-care applications within hospitals. With the successful application of the cranial implant, the company strengthens its position as a leader in providing point of care digital manufacturing technologies within hospital settings.
3D Systems is anticipating material science to be a key driver in the transition to 3D production. It is investing large sums in material innovation across its portfolio to capitalize on this trend.
Going forward, 3D Systems expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings. In March, the company collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
Designed under the partnership of 3D Systems’ Application Innovation Group and TE Connectivity’s team to meet TEL’s material performance and high tolerance requirements, the newly developed solution leverages 3D Systems’ Figure 4 Modular, Figure 4 material and 3D Sprint software solution & services. The solution is the first known printable photopolymer to complete a UL1-recognized long-term thermal aging study.
Through a separate deal in the same month, DDD expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer. In March, Oqton, a wholly-owned, independently operated subsidiary of the additive manufacturer, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
Per the agreement, the two companies will combine the expertise in engineering and manufacturing skills to transform the way products are brought to the market in highly regulated industries like energy, aerospace and healthcare. Baker Hughes intends to integrate Oqton’s Manufacturing Operating System into its proprietary applications creating an enhanced additive manufacturing platform that will accelerate innovation in energy sector.
Zacks Ranks & Stock to Consider
Currently, 3D Systems and Baker Hughes carry a Zacks Rank #3 (Hold), while TE Connectivity has a Zacks Rank #4 (Sell). Shares of DDD and BKR have plunged 36.4% and 8.5%, respectively, while TEL climbed 1.3% in the past year.
A better-ranked stock from the broader Computer and Technology sector is Meta Platforms META, flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Meta Platforms' first-quarter 2023 earnings has been revised a penny upward to $1.97 per share over the past seven days. For fiscal 2023, earnings estimates have moved north by a penny to $10.23 in the past seven days.
META’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing twice, the average surprise being 8.6%. Shares of the company have gained 13.3% in the past year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
TE Connectivity Ltd. (TEL) : Free Stock Analysis Report
3D Systems Corporation (DDD) : Free Stock Analysis Report
Baker Hughes Company (BKR) : Free Stock Analysis Report
Meta Platforms, Inc. (META) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
3D Systems DDD recently revealed that the University Hospital of Salzburg in Austria has successfully implemented the company’s Kumovis R1 printer and DDD subsidiary Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need. Through a separate deal in the same month, DDD expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer. Shares of DDD and BKR have plunged 36.4% and 8.5%, respectively, while TEL climbed 1.3% in the past year.
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Click to get this free report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently revealed that the University Hospital of Salzburg in Austria has successfully implemented the company’s Kumovis R1 printer and DDD subsidiary Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need. Through a separate deal in the same month, DDD expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer.
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Click to get this free report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently revealed that the University Hospital of Salzburg in Austria has successfully implemented the company’s Kumovis R1 printer and DDD subsidiary Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need. Through a separate deal in the same month, DDD expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer.
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3D Systems DDD recently revealed that the University Hospital of Salzburg in Austria has successfully implemented the company’s Kumovis R1 printer and DDD subsidiary Oqton’s D2P and Geomagic Freeform software solutions for meeting a specific patient’s need. Through a separate deal in the same month, DDD expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer. Shares of DDD and BKR have plunged 36.4% and 8.5%, respectively, while TEL climbed 1.3% in the past year.
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ae2c3ffc-9e35-4827-8624-e2f9e18e471d
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716445.0
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2023-04-12 00:00:00 UTC
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DDD Crosses Below Key Moving Average Level
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DDD
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https://www.nasdaq.com/articles/ddd-crosses-below-key-moving-average-level
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nan
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nan
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In trading on Wednesday, shares of 3D Systems Corp. (Symbol: DDD) crossed below their 200 day moving average of $9.76, changing hands as low as $9.70 per share. 3D Systems Corp. shares are currently trading down about 1.2% on the day. The chart below shows the one year performance of DDD shares, versus its 200 day moving average:
Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $15.1399 as the 52 week high point — that compares with a last trade of $9.68.
Click here to find out which 9 other stocks recently crossed below their 200 day moving average »
Also see:
Dividend Giants Widely Held By ETFs
Funds Holding NKY
Institutional Holders of MTH
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, shares of 3D Systems Corp. (Symbol: DDD) crossed below their 200 day moving average of $9.76, changing hands as low as $9.70 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $15.1399 as the 52 week high point — that compares with a last trade of $9.68. Click here to find out which 9 other stocks recently crossed below their 200 day moving average » Also see: Dividend Giants Widely Held By ETFs Funds Holding NKY Institutional Holders of MTH The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, shares of 3D Systems Corp. (Symbol: DDD) crossed below their 200 day moving average of $9.76, changing hands as low as $9.70 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $15.1399 as the 52 week high point — that compares with a last trade of $9.68. Click here to find out which 9 other stocks recently crossed below their 200 day moving average » Also see: Dividend Giants Widely Held By ETFs Funds Holding NKY Institutional Holders of MTH The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, shares of 3D Systems Corp. (Symbol: DDD) crossed below their 200 day moving average of $9.76, changing hands as low as $9.70 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $15.1399 as the 52 week high point — that compares with a last trade of $9.68. Click here to find out which 9 other stocks recently crossed below their 200 day moving average » Also see: Dividend Giants Widely Held By ETFs Funds Holding NKY Institutional Holders of MTH The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, shares of 3D Systems Corp. (Symbol: DDD) crossed below their 200 day moving average of $9.76, changing hands as low as $9.70 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $15.1399 as the 52 week high point — that compares with a last trade of $9.68. 3D Systems Corp. shares are currently trading down about 1.2% on the day.
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1b6f00e4-ea37-4acb-a6bb-b8021ddc8fa4
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716446.0
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2023-04-03 00:00:00 UTC
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DDD Crosses Above Average Analyst Target
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DDD
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https://www.nasdaq.com/articles/ddd-crosses-above-average-analyst-target
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nan
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nan
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In recent trading, shares of 3D Systems Corp. (Symbol: DDD) have crossed above the average analyst 12-month target price of $10.33, changing hands for $10.72/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 3 different analyst targets within the Zacks coverage universe contributing to that average for 3D Systems Corp. , but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $7.00. And then on the other side of the spectrum one analyst has a target as high as $14.00. The standard deviation is $3.511.
But the whole reason to look at the average DDD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with DDD crossing above that average target price of $10.33/share, investors in DDD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $10.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover 3D Systems Corp. :
RECENT DDD ANALYST RATINGS BREAKDOWN
» Current 1 Month Ago 2 Month Ago 3 Month Ago
Strong buy ratings: 0 0 0 0
Buy ratings: 0 0 0 0
Hold ratings: 2 2 2 2
Sell ratings: 0 0 0 1
Strong sell ratings: 1 1 1 1
Average rating: 3.67 3.67 3.67 3.75
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on DDD — FREE.
10 ETFs With Most Upside To Analyst Targets »
Also see:
Funds Holding ORPN
Institutional Holders of ANAT
MANH market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In recent trading, shares of 3D Systems Corp. (Symbol: DDD) have crossed above the average analyst 12-month target price of $10.33, changing hands for $10.72/share. And so with DDD crossing above that average target price of $10.33/share, investors in DDD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $10.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? But the whole reason to look at the average DDD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes.
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In recent trading, shares of 3D Systems Corp. (Symbol: DDD) have crossed above the average analyst 12-month target price of $10.33, changing hands for $10.72/share. But the whole reason to look at the average DDD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with DDD crossing above that average target price of $10.33/share, investors in DDD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $10.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table?
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And so with DDD crossing above that average target price of $10.33/share, investors in DDD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $10.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? In recent trading, shares of 3D Systems Corp. (Symbol: DDD) have crossed above the average analyst 12-month target price of $10.33, changing hands for $10.72/share. But the whole reason to look at the average DDD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes.
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In recent trading, shares of 3D Systems Corp. (Symbol: DDD) have crossed above the average analyst 12-month target price of $10.33, changing hands for $10.72/share. But the whole reason to look at the average DDD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with DDD crossing above that average target price of $10.33/share, investors in DDD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $10.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table?
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df01bfd7-8b79-4978-adc5-6056d2ed253d
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716447.0
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2023-03-22 00:00:00 UTC
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3D Systems (DDD), TE Connectivity Tie on Electrical Connectors
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-te-connectivity-tie-on-electrical-connectors
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nan
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nan
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3D Systems DDD recently collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements.
Designed under the partnership of 3D Systems’ Application Innovation Group and TE Connectivity’s team to meet TEL’s material performance and high tolerance requirements, the newly developed solution leverages 3D Systems’ Figure 4 Modular, Figure 4 material and 3D Sprint software solution & services. The solution is the first known printable photopolymer to complete a UL1-recognized long-term thermal aging study.
The additive manufacturing solution will support TE Connectivity’s reliable and accurate printing while enabling the production of rugged industrial products, targeted at appliances, cellular and data-center applications. It will increase TEL’s flexibility for low volume, quick turn production, helping it avoid tools required for designing complex geometries in injection molding.
The development of the new solution required the UL certification of a new Figure 4 material. UL regulatory approval included UL94 V0 flame rating at 0.4mm, Glow Wire Ignition of 800°C, Comparative Tracking Index of 600V and Relative Temperature Index for long-term electrical and mechanical use of 150C and 130C, respectively.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
3D Systems is anticipating material science to be a key driver in the transition to 3D production. It is investing large sums in material innovation across its portfolio to capitalize on this trend.
Going forward, 3D Systems expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings. Recently, the company expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer.
Earlier in March, DDD’s wholly-owned, independently operated subsidiary, Oqton, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
Per the agreement, the two companies will combine their expertise in engineering and manufacturing skills to transform the way products are brought to the market in highly regulated industries like energy, aerospace and healthcare. Baker Hughes intends to integrate Oqton’s Manufacturing Operating System into its proprietary applications creating an enhanced additive manufacturing platform that will accelerate innovation in the energy sector.
Last month, the company unveiled ProJet MultiJet Printing (MJP) 2500W Plus, a 100% wax jewelry patterns 3D printer that delivers durable, high-quality jewelry patterns for reliable performance and results throughout existing lost-wax casting processes and equipment.
The 3D Systems’ ProJet MJP 2500W Plus enables high-volume production or rapid single-lane printing of pure wax casting patterns at fast print speeds to improve the casting room efficiency by decreasing the time, costs and geometric limitations of tooling. With a large build volume capacity and 24/7 operation, the high productivity of this affordable 3D printer implies fast amortization and a high return on investment.
Zacks Ranks & Stock to Consider
Currently, 3D Systems and Baker Hughes carry a Zacks Rank #3 (Hold), while TE Connectivity has a Zacks Rank #4 (Sell). Shares of DDD, BKR and TEL have plunged 34.9%, 25.4%, 2.9%, respectively, in the past year.
A top-ranked stock from the broader Computer and Technology sector is Airbnb ABNB, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from a loss of a penny to 14 cents per share over the past 60 days. For 2023, earnings estimates have moved up by 58 cents to $3.38 in the past 60 days.
ABNB's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 24.7% in the past year.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
TE Connectivity Ltd. (TEL) : Free Stock Analysis Report
3D Systems Corporation (DDD) : Free Stock Analysis Report
Baker Hughes Company (BKR) : Free Stock Analysis Report
Airbnb, Inc. (ABNB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD recently collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements. Earlier in March, DDD’s wholly-owned, independently operated subsidiary, Oqton, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem. Shares of DDD, BKR and TEL have plunged 34.9%, 25.4%, 2.9%, respectively, in the past year.
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3D Systems DDD recently collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements. Click to get this free report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Airbnb, Inc. (ABNB) : Free Stock Analysis Report To read this article on Zacks.com click here. Earlier in March, DDD’s wholly-owned, independently operated subsidiary, Oqton, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
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Click to get this free report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Airbnb, Inc. (ABNB) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements. Earlier in March, DDD’s wholly-owned, independently operated subsidiary, Oqton, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
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3D Systems DDD recently collaborated with Switzerland-based TE Connectivity TEL to develop an additive manufacturing solution that will produce electrical connectors meeting stringent UL regulatory requirements. Earlier in March, DDD’s wholly-owned, independently operated subsidiary, Oqton, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem. Shares of DDD, BKR and TEL have plunged 34.9%, 25.4%, 2.9%, respectively, in the past year.
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3ac1e11d-64fd-42ad-95d8-0ce8e66c82ee
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716448.0
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2023-03-20 00:00:00 UTC
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Notable Two Hundred Day Moving Average Cross - DDD
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DDD
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https://www.nasdaq.com/articles/notable-two-hundred-day-moving-average-cross-ddd
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nan
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nan
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In trading on Monday, shares of 3D Systems Corp. (Symbol: DDD) crossed below their 200 day moving average of $9.77, changing hands as low as $9.71 per share. 3D Systems Corp. shares are currently trading down about 1.3% on the day. The chart below shows the one year performance of DDD shares, versus its 200 day moving average:
Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $17.83 as the 52 week high point — that compares with a last trade of $9.86.
Click here to find out which 9 other stocks recently crossed below their 200 day moving average »
Also see:
High Dividend Stocks
Top Ten Hedge Funds Holding VCYT
TZOO Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Monday, shares of 3D Systems Corp. (Symbol: DDD) crossed below their 200 day moving average of $9.77, changing hands as low as $9.71 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $17.83 as the 52 week high point — that compares with a last trade of $9.86. Click here to find out which 9 other stocks recently crossed below their 200 day moving average » Also see: High Dividend Stocks Top Ten Hedge Funds Holding VCYT TZOO Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Monday, shares of 3D Systems Corp. (Symbol: DDD) crossed below their 200 day moving average of $9.77, changing hands as low as $9.71 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $17.83 as the 52 week high point — that compares with a last trade of $9.86. Click here to find out which 9 other stocks recently crossed below their 200 day moving average » Also see: High Dividend Stocks Top Ten Hedge Funds Holding VCYT TZOO Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Monday, shares of 3D Systems Corp. (Symbol: DDD) crossed below their 200 day moving average of $9.77, changing hands as low as $9.71 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $17.83 as the 52 week high point — that compares with a last trade of $9.86. Click here to find out which 9 other stocks recently crossed below their 200 day moving average » Also see: High Dividend Stocks Top Ten Hedge Funds Holding VCYT TZOO Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Monday, shares of 3D Systems Corp. (Symbol: DDD) crossed below their 200 day moving average of $9.77, changing hands as low as $9.71 per share. The chart below shows the one year performance of DDD shares, versus its 200 day moving average: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $17.83 as the 52 week high point — that compares with a last trade of $9.86. 3D Systems Corp. shares are currently trading down about 1.3% on the day.
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f1322e95-a271-4807-9180-1ef2a3d21ce8
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716449.0
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2023-03-15 00:00:00 UTC
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3D Systems (DDD) Strengthens Dental Portfolio With New Launches
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-strengthens-dental-portfolio-with-new-launches
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nan
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nan
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3D Systems DDD recently expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer.
3D Systems’ NextDent Base is a 3D print resin designed for the manufacturing of 3D printed denture bases. Suitable for printing of removable denture bases, it features excellent mechanical properties like that of high break resistance and robust printability. To match a variety of aesthetics, the product will be available for ordering in four colors in late 2023. It intends to provide patients with long-lasting and impact-resistant dentures.
Another new addition to DDD’s dental portfolio, NextDent Cast, is an improved easy burn out 3D printing material, that is residue-free and suited for all kinds of purposes like a support structure, frame or orthodontic devices. It offers higher elongation, improved combustion and printability resulting in enhanced stability. Currently available for immediate ordering, the material produces parts in blue color and is packed in 1 kg containers. It aims to offer a castable part to the clients that is stable and strong.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
Next, 3D Systems’ NextDent LCD1 is a small-sized, easy-to-use 3D dental printer which uses LCD technology to deliver high-quality results. It features auto-calibration to deliver parts with a very smooth surface finish, three times faster than is possible with stereolithography printers. It can address a breadth of application needs resulting in unparalleled accuracy, repeatability, productivity and total cost of operation.
Based on the company’s Figure 4 3D printing technology, the NextDent LCD1 printer is ideal for use in small office environments where the production volumes are less demanding. 3D Systems’ NextDent LCD1 is available for immediate ordering. The new printer aims to bring 3D printing into office for clinicians improving efficiency and enhancing patient experience.
The company will be presenting its full digital dentistry portfolio, including the above launches, at IDS 2023 event between Mar 14 and Mar 18 in Cologne, Germany.
3D Systems is anticipating material science to be a key driver in the transition to 3D production. It is investing large sums in material innovation across its portfolio to capitalize on this trend.
Going forward, 3D Systems expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
Recently, DDD’s wholly owned, independently operated subsidiary, Oqton, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
Per the agreement, the two companies will combine the expertise in engineering and manufacturing skills to transform the way products are brought to the market in highly regulated industries like energy, aerospace and healthcare. Baker Hughes intends to integrate Oqton’s Manufacturing Operating System into its proprietary applications creating an enhanced additive manufacturing platform that will accelerate innovation in energy sector.
Last month, the company unveiled ProJet MultiJet Printing (MJP) 2500W Plus, a 100% wax jewelry patterns 3D printer that delivers durable, high-quality jewelry patterns for reliable performance and results throughout existing lost-wax casting processes and equipment.
The 3D Systems’ ProJet MJP 2500W Plus enables high-volume production or rapid single-lane printing of pure wax casting patterns at fast print speeds to improve the casting room efficiency by decreasing the time, costs and geometric limitations of tooling. With a large build volume capacity and 24/7 operation, the high productivity of this affordable 3D printer implies fast amortization and a high return on investment.
Zacks Rank & Key Picks
Currently, 3D Systems and Baker Hughes carry a Zacks Rank #3 (Hold). Shares of DDD and BKR have plunged 25% and 23.9%, respectively, in the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Airbnb ABNB and Fabrinet FN. While Airbnb sports a Zacks Rank #1 (Strong Buy), Fabrinet has a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from breakeven to 14 cents per share over the past 30 days. For 2023, earnings estimates have moved up by 52 cents to $3.38 in the past 30 days.
ABNB's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 19.2% in the past year.
The Zacks Consensus Estimate for Fabrinet's third-quarter fiscal 2023 earnings has been revised 7 cents upward to $1.90 per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by 24 cents to $7.71 in the past 30 days.
FN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing once, the average surprise being 5.1%. Shares of the company have jumped 21.9% in the past year.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
3D Systems Corporation (DDD) : Free Stock Analysis Report
Fabrinet (FN) : Free Stock Analysis Report
Baker Hughes Company (BKR) : Free Stock Analysis Report
Airbnb, Inc. (ABNB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Another new addition to DDD’s dental portfolio, NextDent Cast, is an improved easy burn out 3D printing material, that is residue-free and suited for all kinds of purposes like a support structure, frame or orthodontic devices. Recently, DDD’s wholly owned, independently operated subsidiary, Oqton, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem. 3D Systems DDD recently expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer.
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3D Systems DDD recently expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Fabrinet (FN) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Airbnb, Inc. (ABNB) : Free Stock Analysis Report To read this article on Zacks.com click here. Another new addition to DDD’s dental portfolio, NextDent Cast, is an improved easy burn out 3D printing material, that is residue-free and suited for all kinds of purposes like a support structure, frame or orthodontic devices.
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3D Systems DDD recently expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Fabrinet (FN) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Airbnb, Inc. (ABNB) : Free Stock Analysis Report To read this article on Zacks.com click here. Another new addition to DDD’s dental portfolio, NextDent Cast, is an improved easy burn out 3D printing material, that is residue-free and suited for all kinds of purposes like a support structure, frame or orthodontic devices.
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3D Systems DDD recently expanded its industry-leading digital dentistry portfolio with the launch of NextDent Base and NextDent Cast materials and NextDent LCD1 3D printer. Another new addition to DDD’s dental portfolio, NextDent Cast, is an improved easy burn out 3D printing material, that is residue-free and suited for all kinds of purposes like a support structure, frame or orthodontic devices. Recently, DDD’s wholly owned, independently operated subsidiary, Oqton, entered into a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX, to create an industrial digital ecosystem.
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1ffc6a16-9a64-4878-8ed9-828a2479ecd6
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716450.0
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2023-03-14 00:00:00 UTC
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3D Systems' (DDD) Oqton, Baker Hughes to Offer Software Suite
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-oqton-baker-hughes-to-offer-software-suite
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3D Systems’ DDD wholly-owned, independently operated subsidiary, Oqton, recently announced a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX to create an industrial digital ecosystem.
Per the agreement, the two companies will combine their expertise in engineering and manufacturing skills to transform the way products are brought to the market in highly regulated industries like energy, aerospace and healthcare. Baker Hughes intends to integrate Oqton’s Manufacturing Operating System (MOS) into its proprietary applications creating an enhanced additive manufacturing platform that will accelerate innovation in energy sector.
The newly developed software solution is likely to enhance the design and production of additively manufactured parts across the manufacturing workflow raising efficiency levels and facilitating regulatory compliance. Offered under Oqton brand, it will deliver full factory-floor workflow integration, automation, control and optimization from part design through final inspection.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
3D Systems acquired Oqton in 2021 to accelerate the adoption of additive manufacturing technologies and thereby, strengthen the manufacturing competitiveness. Oqton creates new breed of intelligent, cloud-based artificial-intelligence-enabled MOS platform which helps organizations improve production efficiencies while reducing costs. The MOS accelerates the automation of digital manufacturing. Its solution banks on AI, machine learning and Industrial-Internet-of-Things technologies that help organizations automate their digital manufacturing workflows.
3D Systems is anticipating material science to be a key driver in the transition to 3D production. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
Going forward, 3D Systems expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
Last month, the company unveiled ProJet MultiJet Printing (MJP) 2500W Plus, a 100% wax jewelry patterns 3D printer that delivers durable, high-quality jewelry patterns for reliable performance and results throughout existing lost-wax casting processes and equipment.
The 3D Systems’ ProJet MJP 2500W Plus enables high-volume production or rapid single-lane printing of pure wax casting patterns at fast print speeds to improve the casting room efficiency by decreasing the time, costs and geometric limitations of tooling. With a large build volume capacity and 24/7 operation, the high productivity of this affordable 3D printer implies fast amortization and a high return on investment.
In January, rms Company, the largest U.S.-based medical device manufacturer, integrated 3D Systems’ Direct Metal Printing (DMP) Flex 350 Dual printers into its contract manufacturing workflow to ensure an improvement in productivity standards by up to 50%. The company expects that this integration will help expand the types of implants it produce and accelerate throughput, thereby enabling it to cater to the evolving application needs of the medical industry.
The DMP Flex 350 Dual is the latest addition to 3D Systems’ DMP portfolio. The printer is designed for flexible application use in research and development projects, application development or serial production.
In 2022, the additive manufacturer formed a wholly-owned bioprinting startup, Systemic Bio, to accelerate the development of new drugs, which aims to aid in reducing or eliminating the need for animal testing. This is likely to expand DDD’s growth opportunities in the domain of pharmaceuticals and create a new revenue stream that could reach $100 million annually over the next five years.
Zacks Rank & Key Picks
Currently, 3D Systems and Baker Hughes carry a Zacks Rank #3 (Hold). Shares of DDD and BKR have plunged 25% and 23.9%, respectively, in the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Airbnb ABNB and Fabrinet FN, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from breakeven to 14 cents per share over the past 30 days. For 2023, earnings estimates have moved up by 52 cents to $3.38 in the past 30 days.
ABNB's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 16.3% in the past year.
The Zacks Consensus Estimate for Fabrinet's third-quarter fiscal 2023 earnings has been revised 7 cents upward to $1.90 per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by 24 cents to $7.71 in the past 30 days.
FN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing once, the average surprise being 5.1%. Shares of the company have jumped 20.1% in the past year.
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3D Systems Corporation (DDD) : Free Stock Analysis Report
Fabrinet (FN) : Free Stock Analysis Report
Baker Hughes Company (BKR) : Free Stock Analysis Report
Airbnb, Inc. (ABNB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems’ DDD wholly-owned, independently operated subsidiary, Oqton, recently announced a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX to create an industrial digital ecosystem. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend. This is likely to expand DDD’s growth opportunities in the domain of pharmaceuticals and create a new revenue stream that could reach $100 million annually over the next five years.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Fabrinet (FN) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Airbnb, Inc. (ABNB) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems’ DDD wholly-owned, independently operated subsidiary, Oqton, recently announced a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX to create an industrial digital ecosystem. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Fabrinet (FN) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Airbnb, Inc. (ABNB) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems’ DDD wholly-owned, independently operated subsidiary, Oqton, recently announced a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX to create an industrial digital ecosystem. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
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Shares of DDD and BKR have plunged 25% and 23.9%, respectively, in the past year. 3D Systems’ DDD wholly-owned, independently operated subsidiary, Oqton, recently announced a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX to create an industrial digital ecosystem. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
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1a077e09-5c23-473c-845d-f08f35bf4e0c
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716451.0
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2023-03-02 00:00:00 UTC
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April 14th Options Now Available For 3D Systems
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DDD
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https://www.nasdaq.com/articles/april-14th-options-now-available-for-3d-systems
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Investors in 3D Systems Corp. (Symbol: DDD) saw new options become available today, for the April 14th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DDD options chain for the new April 14th contracts and identified one put and one call contract of particular interest.
The put contract at the $10.00 strike price has a current bid of 51 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $10.00, but will also collect the premium, putting the cost basis of the shares at $9.49 (before broker commissions). To an investor already interested in purchasing shares of DDD, that could represent an attractive alternative to paying $10.49/share today.
Because the $10.00 strike represents an approximate 5% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 5.10% return on the cash commitment, or 43.33% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for 3D Systems Corp., and highlighting in green where the $10.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $11.00 strike price has a current bid of 45 cents. If an investor was to purchase shares of DDD stock at the current price level of $10.49/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $11.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 9.15% if the stock gets called away at the April 14th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if DDD shares really soar, which is why looking at the trailing twelve month trading history for 3D Systems Corp., as well as studying the business fundamentals becomes important. Below is a chart showing DDD's trailing twelve month trading history, with the $11.00 strike highlighted in red:
Considering the fact that the $11.00 strike represents an approximate 5% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 4.29% boost of extra return to the investor, or 36.45% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $10.49) to be 66%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
Also see:
BDCs Hedge Funds Are Buying
UBNT Historical Stock Prices
Institutional Holders of CRSR
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if DDD shares really soar, which is why looking at the trailing twelve month trading history for 3D Systems Corp., as well as studying the business fundamentals becomes important. Below is a chart showing DDD's trailing twelve month trading history, with the $11.00 strike highlighted in red: Considering the fact that the $11.00 strike represents an approximate 5% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in 3D Systems Corp. (Symbol: DDD) saw new options become available today, for the April 14th expiration.
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Below is a chart showing DDD's trailing twelve month trading history, with the $11.00 strike highlighted in red: Considering the fact that the $11.00 strike represents an approximate 5% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in 3D Systems Corp. (Symbol: DDD) saw new options become available today, for the April 14th expiration.
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Below is a chart showing DDD's trailing twelve month trading history, with the $11.00 strike highlighted in red: Considering the fact that the $11.00 strike represents an approximate 5% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in 3D Systems Corp. (Symbol: DDD) saw new options become available today, for the April 14th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DDD options chain for the new April 14th contracts and identified one put and one call contract of particular interest.
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At Stock Options Channel, our YieldBoost formula has looked up and down the DDD options chain for the new April 14th contracts and identified one put and one call contract of particular interest. Below is a chart showing DDD's trailing twelve month trading history, with the $11.00 strike highlighted in red: Considering the fact that the $11.00 strike represents an approximate 5% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in 3D Systems Corp. (Symbol: DDD) saw new options become available today, for the April 14th expiration.
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d7d137f4-8007-43e4-930e-67eb99c59495
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716452.0
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2023-03-02 00:00:00 UTC
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3D Systems Reaches Analyst Target Price
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DDD
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https://www.nasdaq.com/articles/3d-systems-reaches-analyst-target-price
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nan
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nan
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In recent trading, shares of 3D Systems Corp. (Symbol: DDD) have crossed above the average analyst 12-month target price of $10.33, changing hands for $11.11/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 3 different analyst targets within the Zacks coverage universe contributing to that average for 3D Systems Corp. , but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $7.00. And then on the other side of the spectrum one analyst has a target as high as $14.00. The standard deviation is $3.511.
But the whole reason to look at the average DDD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with DDD crossing above that average target price of $10.33/share, investors in DDD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $10.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover 3D Systems Corp. :
RECENT DDD ANALYST RATINGS BREAKDOWN
» Current 1 Month Ago 2 Month Ago 3 Month Ago
Strong buy ratings: 0 0 0 0
Buy ratings: 0 0 0 0
Hold ratings: 2 2 2 2
Sell ratings: 0 0 1 1
Strong sell ratings: 1 1 1 1
Average rating: 3.67 3.67 3.75 3.75
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on DDD — FREE.
The Top 25 Broker Analyst Picks of the S&P 500 »
Also see:
Cheap Consumer Shares
AVDV Options Chain
FCG YTD Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In recent trading, shares of 3D Systems Corp. (Symbol: DDD) have crossed above the average analyst 12-month target price of $10.33, changing hands for $11.11/share. And so with DDD crossing above that average target price of $10.33/share, investors in DDD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $10.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? But the whole reason to look at the average DDD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes.
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In recent trading, shares of 3D Systems Corp. (Symbol: DDD) have crossed above the average analyst 12-month target price of $10.33, changing hands for $11.11/share. But the whole reason to look at the average DDD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with DDD crossing above that average target price of $10.33/share, investors in DDD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $10.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table?
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And so with DDD crossing above that average target price of $10.33/share, investors in DDD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $10.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? In recent trading, shares of 3D Systems Corp. (Symbol: DDD) have crossed above the average analyst 12-month target price of $10.33, changing hands for $11.11/share. But the whole reason to look at the average DDD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes.
|
In recent trading, shares of 3D Systems Corp. (Symbol: DDD) have crossed above the average analyst 12-month target price of $10.33, changing hands for $11.11/share. But the whole reason to look at the average DDD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with DDD crossing above that average target price of $10.33/share, investors in DDD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $10.33 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table?
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eef51a7c-4c7b-484a-9db6-78c5eea0c6dc
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716453.0
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2023-03-01 00:00:00 UTC
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3d Systems (DDD) Q4 2022 Earnings Call Transcript
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-q4-2022-earnings-call-transcript
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nan
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nan
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Image source: The Motley Fool.
3d Systems (NYSE: DDD)
Q4 2022 Earnings Call
Mar 01, 2023, 8:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Hello and welcome to the 3D Systems' fourth quarter and full-year 2022 conference call and webcast. [Operator instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to your host, Russell Johnson, vice president, treasury and investor relations. Please go ahead.
Russell Johnson -- Vice President, Treasury and Investor Relations
Good morning and welcome to 3D Systems' fourth-quarter 2022 conference call. With me on today's call are Dr. Jeffrey Graves, president and chief executive officer; Michael Turner, executive vice president and chief financial officer; and Andrew Johnson, executive vice president and chief legal officer. The webcast portion of this call contains a slide presentation that we will refer to during the call.
Those following along on the phone who wish to access the slide portion of this presentation may do so on the Investor Relations section of our website. For those who have access to the streaming portion of the webcast, please be aware that there may be a few seconds delay and that you will not be able to pose questions via the web. The following discussion and responses to your questions reflect management views as of today only and will include forward-looking statements as described in the slides. Actual results may differ materially.
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Additional information about factors that could potentially impact our financial results is included in last night's press release and our filings with the SEC, including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q. During this call, we will discuss certain non-GAAP financial measures. In our press release and slides accompanying this webcast, which are both available on our Investor Relations website, you will find additional disclosures regarding these non-GAAP measures, including reconciliations of these measures with comparable GAAP measures. Finally, unless otherwise stated, all comparisons in this call will be against our results for the comparable period of 2021.
With that, I'll turn the call over to our CEO, Jeff Graves, for opening remarks.
Jeff Graves -- Chief Executive Officer
Thank you, Russell. And good morning, everyone. I'll begin this morning with some comments on 3D Systems' performance and achievements during 2022, and then I'll share my thoughts on the company's outlook for 2023 and what we'll be focusing on in the year ahead. After that, I'll hand the call over to our CFO, Michael Turner, for a more detailed discussion of fourth quarter and full-year 2022 financial results, as well as our guidance for 2023.
So with that, let me turn to Slide 5 and start with a quick recap of last year. I'll say up front that while we came in short of our original financial goals set at the beginning of the year, I'm very proud of what our company ultimately achieved, particularly given the headwinds that we encountered during the year, a few of which were common to many companies and one of which was unique to ours. It's important that we be as clear as possible about these factors as they directly relate to our view of the year ahead and actions we're taking in response to them. First, while COVID-driven supply chain issues were nagging problems throughout the year, they were no worse than what we had anticipated, and they continued to improve throughout the year as expected.
Much more impactful, however, was the rapid rise in inflation, which reduced consumer demand for a variety of elective medical procedures. At 3D systems, we felt this most acutely as a significant slowdown in our dental orthodontic business, which declined significantly as consumers shifted their spending to more basic necessities such as groceries, clothing, and energy for their homes and cars. This inflation also manifested itself in higher labor and material costs in our products, which created challenges in gross profit margins as our pricing opportunities at times lagged the cost trends. Second, economic uncertainty and recession fears led some of our customers, particularly in the industrial manufacturing space, to become more cautious and defer new investments in equipment and inventory.
Third, while the COVID situation improved in the United States, economic activity in parts of Asia continued to be disrupted by factory shutdowns and restrictions on daily life. And finally, the tragic war in Ukraine not only led us to halt sales in Russia but also dampened demand for key European markets in general. Facing into these factors, we updated our external financial guidance and took a number of concrete steps to control costs and drive near-term operational efficiencies. I want to commend our entire global 3D Systems team for staying nimble and working hard to manage through what proved to be a very challenging year.
Thanks to their efforts, we had a solid second half of 2022, delivering well on our key customer commitments. One of the most important things to emphasize with regard to 2022 was that it proved to be an extraordinarily productive and strategic year for our company when you consider the foundation we put in place for our company's future. Last year, we made it clear that 2022 would be an investment year for 3D Systems. And indeed, we invested during the year in a number of key areas, refreshing our product portfolio, continuing to build a world-class regenerative medicine business, and improving our corporate and regulatory infrastructure such that it can be leveraged to support future growth.
I'm pleased to say that we're already harvesting the benefits of some of these investments in the form of important new technologies, new customers, and new sources of revenue. Capitalizing on these early wins will be a key focus for us in 2023, and I'll speak more about that in a moment. It's also important to note that we invested heavily during 2022 in the highly attractive emerging businesses such as regenerative medicine. While these efforts are largely pre-commercial today, their future impact will become increasingly apparent over the next two years.
And while this investment spending impacted our 2022 results, I'm committed to stay the course in 2023 and beyond, prudently balancing these expenses with efficiency initiatives that are needed in order to assure customers of our ability to support their growth needs over the long term. These investments are absolutely the right strategic decision for 3D Systems, given the continued acceleration of additive manufacturing and production environments and the opening of entirely new markets as the costs of adoption continue to fall. We're at the forefront of this dynamic and well-positioned to deliver the value it promises for all of our stakeholders. Moving to Slide 6.
During 2022, a crucially important investment focus for us was updating and expanding our industry-leading product portfolio, including hardware, materials, and software. In particular, our hardware teams undertook a comprehensive effort to refresh our most critical printer platforms, and they've already achieved several important milestones on this front. Last year, we launched the SLA 750 and SLA 750 Dual, our fastest-ever stereolithography printer that's ideal for large-format, high-volume polymer applications. This all-new platform is the largest, fastest, and most precise SLA printer on the market and has enjoyed an enthusiastic reception from our industrial, aerospace, and automotive customers.
Just last week, we announced that BWT Alpine F1 team has purchased four of our new SLA 750 printing systems after having extensively tested the product during its beta phase. The Alpine F1 team is currently producing 25,000 additively manufactured parts per year using 3D systems, equipment, and materials. The team will use our SLA 750 to accelerate their builds of complex aerodynamic parts for wind tunnel testing, as well as small composite tools and high-temperature bonding jigs. The SLA 750's evolution is a perfect illustration of the strategic capability we're building in 3D Systems, the ability to drive growth through rapid innovation by accelerating new products from the design lab to the customer market.
And two weeks ago, we introduced a major upgrade to our industry-leading jetting printer, the MJP 2500W Plus, which is ideally suited for jewelry and other small precision casting applications. This upgraded platform is specifically designed to produce complex, high-quality, pure wax, 3D-printed jewelry patterns with new levels of speed and precision. It was developed in close collaboration with end users and responded directly to the needs of our customers operating in mass customization production environments. As I noted earlier, a key focus for 2023 will be to harvest the near-term benefits of these technology investments.
The SLA 750 and refreshed MJP 2500 are two early examples of the investments we're making in rapid customer-focused innovation. We'll accelerate the cycle of performance upgrades during 2023, with a number of new platforms scheduled for launch throughout the year. Now moving to Slide 7. In addition to these organic investments in our legacy printing platforms, in 2022, we further accelerated expansion of our hardware offerings by acquiring three early stage production printing platforms: Titan, Kumovis, and dp polar, each of which offer unique advantages in specific markets.
We're very optimistic about the potential for each of these new systems. While still in the early stages of launch, we're already seeing exciting signs of what these revolutionary technologies can accomplish. Let me take a minute to share one example with you. Just last week, we witnessed the achievement of a major milestone for our healthcare solutions group when a surgical team at Austria's University Hospital in Salzburg executed the first clinical implantation of a 3D printed cranial plate manufactured from medical-grade PEEK polymeric materials using a Kumovis printer.
This printer was specifically developed for precision printing of medical-grade, high-performance polymers such as polyether ether-ketone, or PEEK. Using a Kumovis printer installed at the point of care inside the hospital, the surgical team customized and printed a cranial implant to precisely match the patient's specific anatomical profile and related physiological needs. In this instance, it was critically important to not only create a suitable skull plate for protection of the brain but, given the size of the replacement section needed, to also lightweight the unusually large cranial plate by 3D printing it with a porous honeycomb internal structure, an outcome that would have been impossible using traditional manufacturing techniques. This type of personalized patient-specific point-of-care implant application that takes advantage of the performance and biocompatible properties of PEEK material is exactly why we acquired Kumovis and are integrating their platform into our overall portfolio.
As this technology now comes online, we're uniquely positioned to provide surgeons a full spectrum of printed solution options, ranging from titanium and cobalt-chrome for joint and bone replacement to advanced medical-grade polymerics for spinal, cranial, and other targeted orthopedic applications, each of which is customized to precisely match the patient needs using the digital tools and processes that we pioneered over the last decade in our healthcare business. These solutions provide better, faster, and lower-cost outcomes to patients in a rapidly growing range of orthopedic applications, which will drive sustained long-term growth in our existing healthcare business. When combined with our opt-in software platform, which is now in process, the ability to standardize and automate orthopedic workflows will further accelerate the application of this technology for patients around the world. I'm proud to say we're the leader in this market, and we're making the key investments required to remain so.
As we move forward with these and other investments in our product portfolio, our goal is clear: 3D Systems will continue to offer the most complete innovative lineup of 3D printing solutions in the industry, and we'll remain the partner of choice for customers wishing to unlock the vast potential of true serial-scale additive manufacturing. Moving now to Slide 8. Another strategically important area of investment focus during 2022 was regenerative medicine. As I've shared with you previously, I believe that regenerative medicine is the next frontier for additive manufacturing.
Moreover, I'm convinced that 3D Systems is uniquely positioned to lead this emerging growth industry. We combine a set of attributes that no other company could claim, including a 30-year-plus track record of developing high-resolution 3D printing applications, deep proficiency in material science, the strong foundation of quality and regulatory expertise to draw upon, and hands-on experience in human tissue engineering gained through both strategic acquisitions and through our multiyear organ partnership with United Therapeutics. Over the last 12 months, our regenerative medicine program has achieved remarkable milestones that offer a preview into the extraordinary growth potential of this emerging business. In 2022, 3D Systems and our longtime biotech development partner, United Therapeutics, publicly unveiled a 3D-printed lung scaffold that represents the most complex, 3D-printed object ever manufactured.
This extraordinary engineering achievement has already demonstrated functional gas exchange in animal models. Based upon progress made last year, we believe that our 3D-printed lungs could enter human transplantation trials within five years, a significantly accelerated time frame from what we just envisioned back in '21. Also, in '22, we announced the formation of Systemic Bio, a wholly owned start-up company that's leveraging our expertise in vascularized tissue printing, to develop and manufacture a unique organ-on-a-chip technology called h-VIOS for use in drug discovery and development by the pharmaceutical industry. I want to remind everyone that Systemic Bio will not be a traditional vendor of 3D printers and materials.
Instead, Systemic Bio will partner directly with major pharmaceutical companies to jointly develop h-VIOS chips tailored to specific organ and disease functions and market those chips directly to pharmaceutical and biotech companies engaged in drug discovery. I'm sure you can all appreciate the substantial increase in our company's baseline profitability that we would drive by becoming a major supplier of customized high-value biotech products to the pharmaceutical industry, as well as the rerating of our company's valuation multiple that could result from this change. As we speak, our Systemic Bio team is actively engaged in commercial discussions with potential partners and customers. I look forward to having more news to share with you on this front in the near future.
And just two weeks ago, we announced yet another milestone, a new regenerative tissue program that's a direct outcome of the success we've achieved in 3D printing human organs, scaffolds. This internal research and development effort is combining bioprinting technology, biocompatible 3D printing materials, and patient-derived cells to manufacture vascularized hydrogel scaffolds that mimic a patient's anatomy and physiology and can deliver improved outcomes in a variety of surgical applications. The first 3D-printed product that we have under development is regenerative breast tissue. This breakthrough application could offer a dramatically improved implant-based reconstruction option for millions of women diagnosed with cancer each year.
It could also open up a significant new market opportunity that 3D Systems is uniquely positioned to address. A key point regarding our ongoing investment initiatives is we're only pursuing R&D programs and new additions to our product portfolio that we believe offer attractive returns and are consistent with our company's mission to provide application-focused solutions to high-value, high-growth industrial and healthcare markets. Given this strategic importance, we maintained our heavy investment focus during 2022 despite macroeconomic and geopolitical headwinds, as well as greater-than-expected softness in our key orthodontic market. And doing so required us to target our investment spending very carefully, control our operating costs, and utilize our strong balance sheet.
I remain convinced that the programs we supported during 2022 and will continue to fund in 2023 are building a solid foundation for future growth and profitability we'll be able to leverage for many years to come. Moving now to Slide 9. I'd like to highlight several recent internal activities that have already provided us with important performance benefits, and we'll continue to do so as we move through 2023. Last year, we achieved meaningful success in better aligning our manufacturing and supply chain operations with our company's operating profile and emerging product portfolio.
During the second half of 2022, we completed a major step in this process by insourcing a significant amount of our polymer printing platforms into our South Carolina manufacturing operations. This transition required us to incur some one-time costs, as well as to take inventory onto our books ahead of need, which, in part, explains our elevated inventory levels at the end of the year. The change has already improved our gross margins and positively impacted delivery, reliability, and product quality for our customers. In 2023, as we accelerate the pace of new product releases on track to our financial performance targets, you have my commitment that we will be laser-focused on driving operational excellence and cost efficiency.
Yesterday, we announced a important step in this process, a restructuring initiative that will improve our 2023 profit profile by better aligning our European engineering and manufacturing operations for our three metals platforms, streamlining our software organization which is now consolidated under Oqton, and focusing our product portfolio on platforms that bring the highest long-term value to the market. These actions, which are the culmination of integration activities and optimization planning conducted throughout 2022, will allow us to achieve significant cost synergies in 2023 and beyond as Michael will detail later for you. Beyond these discrete measures to maximize efficiency, during the fourth quarter of 2022, we laid the groundwork for further operational improvements by undertaking a major reorganization of our operations and engineering functions. We now aligned all 3D Systems' engineering, design, product management, procurement, manufacturing, and logistics under a single member of my executive team, Dr.
Joe Zuiker, who recently joined the company to take on this new role. Under Joe's leadership, our operations and engineering teams will work together to drive an organizationwide focus on operational excellence. Their primary mission will be to ensure a seamless progression from product design to full-scale manufacturing for every element in our portfolio. Before handing the call over to Michael, I like to provide my broad perspective on our outlook for 2023.
In our new full-year guidance, which Michael will present to you shortly, we're prudently assuming that the general market slowdown that we experienced in the second half of '22 will persist throughout '23. Outside of dental, we see considerable strength in virtually all other markets across our healthcare and industrial solutions segments. Putting this all together, we expect to achieve consolidated revenue growth for 2023 in the mid-single digits, supported by growth rates in the mid-teens for our nondental markets. This growth profile, plus the operational and cost efficiencies it will drive throughout '23, should allow us to generate positive adjusted EBITDA and free cash flow for the full year, excluding any one-time restructuring costs that we may incur.
I want to emphasize that our 2023 guidance fully reflects continued investments in growth areas of our business, including new product developments, R&D, and creating a world-class regenerative medicine business, all of which are critically important activities designed to support future growth. As we enter the new year, I've never been more excited and confident in our company's leadership position in the 3D printing industry, particularly given the technology, application expertise, and operational foundation we've worked so hard to put in place over these last few years. In 2023, we're committed to drive financial results in line with our leadership position. Finally, before concluding my remarks, I would like to note one additional topic.
Earlier this week, the U.S. Department of State, Justice, and Commerce announced that these agencies have settled their open investigation of 3D Systems into alleged export control violations by 3D Systems that previously took place between 2012 and 2019. We disclose this matter in our SEC filings for some time now. Under the settlement, 3D Systems would be subject to civil monetary penalties, as well as several remedial compliance measures as a part of our three-year consent agreement.
The company is pleased to have reached a settlement with the agencies and remains committed to continuing to enhance its export control program. Looking forward, I'm very proud of the compliance culture, processes, and infrastructure that we've now established in 3D Systems and will continue building upon. We are fully committed to not only meeting all required standards, but being a true leader in what is an essential element of all complex global businesses today. With that, I'd like to turn the call over to Michael Turner, our CFO.
Michael.
Michael Turner -- Executive Vice President, Chief Financial Officer
Thanks, Jeff. Before I start, I'd like to remind everyone that 3D Systems made three significant divestitures in 2021. The earnings release that we issued last night contain tables with non-GAAP measures relating to our full-year 2021 results from which we excluded the impacts of these divested businesses. Likewise, on today's call, any reference that I make to our full-year 2021 results will be on the same ex-divestiture basis.
The point of this adjustment is to make our 2022 results comparable to our 2021 results on an organic basis. However, it's important to note that we completed our divestiture program during the third quarter of 2021. Therefore, any tables contained in last night's earnings release relating to our fourth-quarter 2021 results, and likewise, any reference that I make to our fourth-quarter 2021 results on today's call do not reflect any adjustments for divestitures. Turning now to Slide 11.
I'll start out with a discussion of full-year 2022 results for our consolidated business. As Jeff mentioned, our business encountered a variety of external challenges during 2022 that caused our full-year results to come in below what we expected at the beginning of the year. These challenges include FX headwinds, high inflation, recessionary fears, and the war in Ukraine. And of course, the biggest headwind we faced early in the year was an inflation and economic uncertainty reduced demand for many elective medical procedures.
As a result, we experienced an unexpected and significant decline in dental market revenue during the second half of 2022. This was particularly impactful for 3D Systems because dental sales represent a large percentage of our total business. However, after making a midyear adjustment to our 2022 revenue guidance to reflect the above factors, we were able to finish out the year by coming in quite close to our revised revenue expectations. Revenue for 2022 was 538 million, a decrease of 12.6% as compared to 2021.
Excluding divestitures and the unfavorable impact of FX, revenue increased by 3.3% compared to the prior year. This top-line growth, despite a very challenging operating environment, reflects continued solid demand in most of the end markets served by our industrial and healthcare solutions segments. As previously noted, what's partially offsetting this variable was our exit from the Russia market in early 2022, as well as weakness in dental market revenues, predominantly in orthodontics, which declined by roughly 10% year over year. Adjusting for these items, our net sales increased by lower double digits year over year in 2022.
Moving now to our quarterly revenue results, which, as noted previously, no longer reflect the impacts of 2021 divestitures. On a consolidated basis, revenue for the fourth quarter of 2022 decreased by 12% to $132.7 million compared to the same period of the prior year. Excluding unfavorable impacts of FX, consolidated revenues decreased by 7.6%. The decline in revenue primarily reflects sharply lower fourth-quarter middle market sales, partially offset by continued solid products and service demand across other areas of the business.
Turning now to Slide 12 for a review of segment revenues. For our healthcare solutions segment, full-year 2022 revenue, excluding divestitures and the unfavorable impacts of FX, decreased 2.9% as compared to 2021 due to a decline in our dental market of approximately 10% that started in mid-2022. Outside of dental, we saw healthy growth during 2022 in some of the other major business lines within our healthcare solutions segment, including strong sales to customers in 3D-printed various types of medical devices such as orthopedic implants and surgical guides. Additionally, our sales of virtual surgical planning and point-of-care solutions for doctors, surgeons, and hospitals grew in the fourth quarter.
These two areas of our healthcare business often involve medical procedures that are less elective in nature and, therefore, have been proven resilient even in times of economic uncertainty. For our industrial solutions segment, full-year 2022 revenue, excluding divestitures and the unfavorable impacts of FX, increased by 9.7% as compared to 2021, driven by continued strength in precision microcasting applications and demand for production machines in energy and commercial space applications. Moving now to quarterly segment results. For our healthcare solutions segment, fourth-quarter revenue, excluding unfavorable FX impacts, declined 16.6% year over year due primarily to dental market headwinds, partially offset by continued strength in medical devices.
For our industrial solutions segment, fourth-quarter revenues, excluding unfavorable FX impacts, increased 1.1%. Revenue during the quarter benefited from continued strength in precision microcasting applications for jewelry customers, as well as growth in semiconductors and electronics, partially offset by relatively weaker sales to aerospace and motorsports customers as compared to a very strong fourth quarter in the prior year for both of those end markets. Moving now to gross profit on Slide 13. Gross profit margin for the full-year 2022 was 39.8%, compared to 42.5% in the prior year.
The decrease in margins is due to multiple factors, including 2021 divestitures of noncore assets, inflationary impacts on input costs, freight, and unfavorable changes in product mix due to selling more printers and less materials in 2022 than the prior year. This year-over-year mix shift impact was particularly impactful in our key dental market vertical. For the fourth-quarter 2022, gross profit margin was 40.9%, compared to 44.1% for the same quarter last year. The factors driving the year-over-year decline in margin are largely the same as for the full year.
So, while our margins are down in 2022 versus 2021, we achieved sequential margin improvement in the fourth quarter with a 100 basis point increase from Q3 levels, which followed a similar increase from Q2 to Q3. We've been able to improve margins despite challenging macroeconomic environment through a combination of price actions and increased focus on operational excellence, which include the benefit of bringing some of our outsourced printer production back in-house during the second half of 2022. Turning now to operating expenses on Slide 14. Operating expenses for the full-year 2022 increased 11.6% to $331.3 million compared to the prior year.
The higher operating expenses include spending in targeted areas for future growth, including expenses from acquired businesses, research and development, and investments in personnel and corporate infrastructure, partially offset by the absence of expenses from divested businesses. The higher expense also includes 17.2 million in accrued expenses for legal and other settlement costs that were largely related to the export control investigation that, as Jeff mentioned just a moment ago, we have now settled with the U.S. government. On a non-GAAP basis, which excludes nonrecurring charges and divestitures, full-year 2022 operating expenses were 241.1 million, a 22.1% increase from the prior year, which primarily reflects spending for future growth.
For the fourth quarter, operating expenses increased 18% to 82.7 million compared to the same period of the prior year. On a non-GAAP basis, fourth-quarter operating expenses were 64.1 million, an 18.2% increase from the same period a year ago. The increase in non-GAAP operating expenses primarily reflects spending this for future growth, including expenses for the acquired businesses, research and development, and investments in personnel and corporate infrastructure. Moving now to Slide 15.
Adjusted EBITDA, which is defined as non-GAAP operating profit plus depreciation, was -5.8 million for the full year 2022, compared to 56.2 million for 2021. For the fourth quarter of 2022, adjusted EBITDA was -4.8 million compared to 17.9 million for the same period last year. The decline in adjusted EBITDA reflects all the factors that we previously discussed. One point I'd like to remind everyone of, as I did on our third-quarter call, 3D Systems' profitability during 2022 was significantly impacted by a variety of growth investments, which includes SG&A and R&D expenses from businesses that we've acquired over the last year and a half, including Oqton, Titan, Kumovis, and, most recently, dp polar.
It also includes investments we're making to build our regenerative medicine business, which is still largely in a pre-commercial stage. We invested on this front in 2022 and will increase our level of investment in 2023. These acquisitions and other investments in emerging businesses are highly strategic for 3D systems, and we expect them to contribute significantly to our revenue growth over the coming years. However, for the time being, these businesses in aggregate have yet to generate meaningful revenue for us.
As such, you should expect our adjusted EBITDA to run below our natural potential for a period of time due to the near-term expense impacts of recent acquisitions and investments in pre-commercial businesses, although, as I will discuss in a moment, we are forecasting to return to breakeven or better adjusted EBITDA in 2023 after a negative year in 2022. And for EPS, full-year '22, we had fully diluted loss per share of $0.96 compared to income per share of $2.55 for 2021. Excluding charges for stock-based compensation and other nonrecurring items as detailed in the appendix of the earnings release, our 2022 non-GAAP loss per share was $0.23 compared to non-GAAP earnings per share of $0.33 in 2021. For the fourth quarter of 2022, we had a fully diluted loss per share of $0.20 as compared to a loss per share of $0.05 in the prior year quarter.
On a non-GAAP basis, we had loss per share of $0.06 for the fourth quarter of 2022 versus $0.09 earnings per share in the prior year quarter. The year-over-year EPS decline reflects all the factors we previously discussed. Now turning to slide 16 for balance sheet highlights. We ended the quarter with $568.7 million of cash and short-term investments on hand.
Our cash and short-term investments declined approximately $220.9 million since the end of 2021, driven primarily by a 104.3 million paid for acquisitions and equity investments. Cash used in operations was 68.4 million. Capital expenditures of 22.5 million in cash used for financing activities of 13.8 million. We continue to have a strong balance sheet with sufficient cash to support organic growth and our investment in our pre-commercial businesses.
I'll conclude my remarks on Slide 17 with a discussion of our full-year 2023 guidance. We expect revenue to be in the range of 545 million to 575 million. We expect non-GAAP gross profit margins to be in the range of 40% to 42%, and we expect both adjusted EBITDA and free cash flow to be breakeven or better. I want to highlight several points related to this new guidance.
First, we are not providing 2023 guidance for non-GAAP operating expenses as we did for 2022. However, we have added 2023 guidance for both adjusted EBITDA and free cash flow. We made this change because we believe that these two measures, one which addresses profitability and the other which addresses cash generation, are most consistent with how investors will evaluate our overall performance going forward. Given that we are now guiding to new metrics, I want to make sure that we have a common understanding on definitions.
For purposes of this guidance, I define free cash flow as adjusted EBITDA plus changes in trade working capital, less capital expenditures. Also, both adjusted EBITDA and free cash flow are meant to exclude any restructuring and/or one-time charges that we may incur during 2023. And lastly, I want to note that our 2023 guidance fully incorporates two known headwinds. It includes increased operating expenses associated with our continued investment in our pre-commercial regenerative medicine business, which we expect to be approximately $9 million higher than in 2022.
And it also assumes that our dental orthodontics demand will be down roughly 35% versus 2022, primarily driven by customer supply chain inventory reduction initiatives. Offsetting these headwinds are the favorable impacts of the restructuring we just spoke to earlier and the strong growth in our core nondental markets. The key takeaway here is our guidance for 2023 anticipates breakeven to positive adjusted EBITDA and free cash flow after fully incorporating these known headwinds, which demonstrates that the fundamentals of our core business are sufficiently robust to drive solid overall performance for the company. Finally, although we are not providing quarterly guidance for 2023, I want to make a comment about seasonality.
In the past, it's been difficult for 3D Systems to begin each year with a relatively weaker first quarter and then go through with somewhat higher second and third quarters and then end the year with a strong Q4 as customers fluff their annual budgets and stock up on inventories for the coming year. 2022 did not follow the same pattern due to the decline in our dental market in the second half of the year, as well as other macroeconomic challenges. Based on the current forecast upon which our 2023 guidance is based, we're expecting the return of normal seasonal trends, as I just described, which should result in a quarterly split of revenues similar to what we experienced in 2021. That concludes my remarks.
Operator, we are now ready to open the line for questions.
Questions & Answers:
Operator
Thank you. [Operator instructions] Our first question today is coming from Troy Jensen from Lake Street Capital. Your line is now live.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Hey, gentlemen, Thanks for the time here. Congrats on results that I thought were better than feared, for the most part. But just for you to start, Michael, a point of clarification. In your prepared remarks, right at the end, did you say that healthcare was down 35%? Or are you expecting that to be down in '23 at that level?
Michael Turner -- Executive Vice President, Chief Financial Officer
We expect 2023 dental -- our dental markets to be down 35% year over year in '23, not [Inaudible].
Troy Jensen -- Lake Street Capital Markets -- Analyst
OK, cool. I got you. And then, just thoughts on, like, share loss. Is that just customer adoptions stall that much? Or just -- you know, share is obviously an important topic for these customers.
So, just your thoughts on that, please.
Jeff Graves -- Chief Executive Officer
For that market specifically, Troy?
Troy Jensen -- Lake Street Capital Markets -- Analyst
Yeah. Yeah. You know, a line, obviously, is what I meant.
Jeff Graves -- Chief Executive Officer
No, it's -- No, Troy, there's no share loss. It's strictly correction in the supply chain at this point. So, if, you know, watch public company announcements that the impact on that business has kind of moderated now, it's flattened out. They've just got to burn off some inventory.
They had -- they've built inventory, you know, and pretty aggressively as they expand their production capability. And then, they got hit with the consumer discretionary spending drop. So, they're just clearing inventory. So, you know, we've tried to just be very realistic in the year to say it's going to take -- that this consumption rate is going to take a while for them to do that and return to normal levels.
But no share loss.
Troy Jensen -- Lake Street Capital Markets -- Analyst
OK, perfect. And then, Jeff, you know, I mean, you've talked historically about just the importance of profitability in this industry, especially from the leaders like you guys in additive. You know, I guess I was hoping to get your thoughts on what the opex is for, like, bioprinting and regenerative that isn't generating revenues here. But as Michael pointed out, there's a lot more than just the regenerative stuff with some of the, you know, traditional additive stuff that you'd bought too that's kind of pre-revenue.
Jeff Graves -- Chief Executive Officer
Yeah.
Troy Jensen -- Lake Street Capital Markets -- Analyst
So, just thoughts on, I think, Michael, your term was natural potential of the margin profile. I'd love to know what you think this business could be or where is it right now if you didn't have all these, you know, aggressive investments?
Jeff Graves -- Chief Executive Officer
Well, it's a discussion we have actively inside a lot, especially coming into the year to a certain budget. You know, it's -- you know, for companies that -- you know, for companies that are immune themselves or growth-oriented companies, it takes no great brainpower to just broad-based cut cost. What we've tried to do in '23 is to really look at our markets and say what's really going to drive meaningful shareholder value over the next few years and make sure we funded that. And then, let's be realistic on top-line revenue, and then let's aggressively take cost out where we can.
So, it's that balance of looking out for the next few years on the adoption rate of additive in key markets that are going to drive growth, you know, really valuable growth and balancing that those investments off against cutting costs and making sure that we're profitable. So, we just put a stake in the ground this year and said, look, we can strike a nice balance. We can have EBITDA profitability. So, we profitable on adjusted EBITDA.
And we can generate positive free cash flow. And remember, our balance sheet, we still have well over half a billion dollars of cash on the balance sheet. But I think, customers, you know, especially right now and uncertain times, they need to see you making money. They need to see you particularly generating cash to know that you're going to be around and able to support them.
You know, especially we're selling now into, you know, relatively conservative, large, older-line industrial companies that are adopting additive. They're conservative in their supply chain design. So, they want to know that we're going to be around and making money. So, it's not enough to have cash on the balance sheet.
We've got to be adding to that cash, and yet we still have to be investing significantly for long-term growth because, Troy, the number of applications in production is just exploding in not only healthcare, but industrial applications. So, now, not all of them can you make money at. So, you got to be careful there, but we try to pick and choose carefully. So, what you see us giving in guidance is kind of the net result of that is we feel it's really important that we're committed to positive EBITDA and positive free cash flow this year.
And we have accumulated a lot of inventory last year with the in-sourcing. So, we've got a lot of upside in terms of working capital reductions. We've got -- we're being prudent in our efficiency programs, make sure we deliver on those, and then we're spending as much as we can still on the growth initiative. So, we end up with that result.
So -- and regenerative medicine is taking a meaningful piece of it. But when the returns on that investment become public, Troy, I think, everyone, in retrospect, can look back and say they were great investments. So, we're kind of pleased with the balance. It was a real challenge this year, particularly because the weakness in dental is how fast will that come back.
So, I think we feel very comfortable with our top-line expectations at this point. And we'll update you if we change. We're focusing heavily on cost wherever we possibly can, and we're funding key initiatives that we think have real value in the next few years. Michael, do you want to add any more to that in terms of [Inaudible]?
Michael Turner -- Executive Vice President, Chief Financial Officer
No, I think it's covered, so.
Jeff Graves -- Chief Executive Officer
But, yeah, Troy, know, that kind of covers it. Any questions -- I guess that's a really thoughtful question and it's a subjective answer. I just feel, this year, it's important to show our customers and our shareholders that we're positive in EBITDA and that we're going to be positive in free cash flow. And even though we've got a great balance sheet, we want to make sure that stays real strong.
Troy Jensen -- Lake Street Capital Markets -- Analyst
No, perfect answer. Hey, I'll -- one quick question. I'll just throw it out there into the floor. But touching on industrial, I thought the fact that you're guiding for these guys to grow 15% this year in what could be a recessionary year is, to me, pretty healthy, right? So, just thoughts on that, Jeff, and then I'll leave you guys on it.
Jeff Graves -- Chief Executive Officer
Yeah. Troy, it's reflective of true production applications starting to really grow. And I -- you know, we were modeling at mid-teens this year, and I think that's going to be early days when you look over the next few years because there's so many folks moving it into factories. And factory managers are very conservative people.
And companies -- or factory managers particularly are promoted because they're conservative, generally. And even they are adopting it and moving it into the floor, albeit at a moderate pace. But it's remarkable, the number of new applications that are coming on the screen every day in both polymers and metals. And customers like dealing with us because we have both, and we know we can support them in the world wherever their needs are.
So, I am really bullish. I've looked at that number too and said, what, you know, if we deliver that. And based on our customer back analysis, Troy, it's very doable, I believe.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Awesome. Awesome, guys. Well, good luck this year, and, yeah, thanks for the time.
Michael Turner -- Executive Vice President, Chief Financial Officer
Thanks, Troy.
Jeff Graves -- Chief Executive Officer
Thanks, Troy. Stay warm.
Operator
Your next question is coming from Greg Palm from Craig-Hallum. Your line is now live.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Yeah. Thanks. This is, Danny Eggerichs on for Greg today. Hoping to dig a little bit more into dental here right off the bat.
Obviously, big year-over-year decrease expected here. I mean, is there anything that could make you more bullish, something that could go right in this upcoming year, whether it's, you know, on the system side or the consumable side where maybe there's that 35% as kind of a base case and there's potential upside to that? Or you don't have really good visibility for that?
Jeff Graves -- Chief Executive Officer
No, it's a great question. And it's great to hear from everybody in the cold climate first thing in the morning. You know, it's great question. So, you know, we have a very intimate relationship with the leader in orthodontics today.
And I think, you know, if you look at what they say publicly in terms of their business now kind of bottoming -- in my interpretation, business bottoming, and, you know, here I think my guess is that's a combination of many factors. You've got wars going on and inflation, but things seem to be kind of stabilizing. So, I would agree. I mean, just as a consumer, I would agree that that outlook is probably reasonable.
And when you factor in the supply chain, you know, burn down of inventory that they want to accomplish with us, that results in our revenue stream. Is there upside on that? Certainly. I mean, it's -- you know, I hope everybody looks in the mirror and says their teeth need to be straightened., and that would be great. If there was increased demand, it would flow through to us very nicely, and particularly, probably the second half of the year as inventories are brought online.
But it is really that simple. How much money will people be willing to spend on straightening their teeth, you know, doing that correction because that's really the driver in the market. And that I think we've been very reasonable in our projection right now. So, there could always be a downturn in the economy again and things could soften.
Inflation, I am hoping, comes under control, and people, you know, have the money to spend on, you know, on optional items like that. But it is really important in people's lives, and we're really well-positioned if there is some upside there in demand. But I think we've been prudent in our projections right now.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Got it. And then, I guess, industrial and non-dental healthcare. I think that mid, you know, teens growth was better than a lot of us were expecting. You know, are those -- do you think growing at similar rates, or is one outgrowing the other? And how has that changed in recent months?
Jeff Graves -- Chief Executive Officer
Yeah, net debt is probably similar rates. I would tell you that the non-dental half of our healthcare business, the orthopedics and point-of-care work, that's fabulous. And I think, you know, we've gotten the technology to a point now of broad acceptance, and the costs are coming down fairly rapidly. So, the orthopedic repairs to the human body are becoming, as I said in the prepared remarks, better, faster, and cheaper.
So, you can now have better patient outcomes, faster turnaround times, less hospital time, and all the ancillary benefits from that. You can do it at a lower cost and provide a better technology solution. And I think we're really hitting our stride in orthopedic acceptance. And we work closely with the FDA on approvals of each procedure.
And you've got to work through that. It takes a little time, but the economics and the outcomes are in our favor. And I'm very bullish on that. In orthopedics, I think it's transforming orthopedics, frankly.
And there's ripple effects, less inventory in the supply chain, better patient matching of solutions, all of that you get. An example I gave, I'm just over the moon about the skull repair. It brings all the benefits of additive manufacturing together in one example. And it's fabulous.
And this -- it changes patients' life. So, it's great. On the industrial side, again, broad acceptance. I mean, when you look at everything from rocketry and satellites to new ground transportation with electric vehicles and even old-line manufacturing, now we're not going after a lot of high-volume standard components, you know, made out of steel and other lower-cost materials.
We generally are in the higher-value markets in titanium and nickel and some of the other high-value materials and applications, because that's the first adopters, if you will, of additive. But especially, the younger -- I would say, younger companies where there are fewer design paradigms, they love additive. And if you look at the percentage of additive parts in some of these really progressive industries that are moving fast, it's really high. I mean, you're talking 70, 75% of components in some modern vehicles that are not ground-based vehicles, you have the modern flight vehicles for air and space that are made with additive manufacturing and either directly or indirectly through castings.
And it is remarkable. So, I think your -- you know, all of the tides are going in the right direction for adoption. And the only thing that could really slow it down is a drop in capital spending by companies if they are worried about cash. But our customers generally are in good shape on cash.
So, they're willing to make investments to reduce supply chain risk and improve the term time. So, right now, it's green fields ahead. There's enough to be nervous about in the papers. But unless things get worse, I'm pretty confident in those numbers we put out there.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Yeah. That's all good stuff. Maybe I'll just sneak in one more quick one. On your inventory levels, I mean, pretty big jump again both year over year and sequentially.
Just update on your comfort levels there and how we should think about that going forward.
Jeff Graves -- Chief Executive Officer
We're very careful. We're going to have enough inventory to make product, yeah. You know, when you look at companies, how much cash do we type in inventory? It is right now outrageous. I mean, we insource manufacturing.
We had to take it onto our books and I think it hit us in Q3 and probably a little overlap in Q4. Our inventory levels jumped up a lot because the supplier we were using to make product had just an absurd amount of inventory. So, we took on the good inventory. We've got it down on the shelf now.
We'll be working our way through. That is certainly a source of cash in in '23, and it's an important one to us. So, we're going to be working inventory levels down to a much more respectable level throughout the year. What I am really pleased about is, by taking over that manufacturing, we immediately improve the quality and delivery metrics for our products, and it was critical to our customers and their growth.
So, we immediately did that, and now, we're working on inventories. And I just think our type of business is much better suited for many platforms for internal manufacturing. And that's a trend will probably continue, not 100% but for our high -- low and high mix complex products. We have a great manufacturing base here in South Carolina, and we're developing the same in Europe.
And, well, you'll see more of that to come.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Got it. All right. Thanks, everyone.
Jeff Graves -- Chief Executive Officer
Thanks.
Operator
Thank you. Next question is coming from Shannon Cross from Credit Suisse. Your line is now live.
Shannon Cross -- Credit Suisse -- Analyst
Hi. Thank you very much for taking my question. And good morning. I wanted to ask a bit on the COGS or actually cost side.
You know, your restructuring program is really targeting opex. I'm curious about COGS. And then I had a, I don't know, more of a meta question, I guess, in terms of the biotech opportunity that you have. Could you maybe think about -- I mean, you mentioned the lung has the potential to be through, you know, I guess, into maybe human trials in five years.
How should we think about, you know, the business model morphing over the next few years? I don't want specifics, but, you know, maybe if you can talk in generalities about, you know, what kind of revenue growth projections there might be or how to think about, you know, comparable margin profiles, just because you really have sort of two separate businesses. And I think it would be really helpful for people to frame, you know, what they're investing in. Thank you.
Jeff Graves -- Chief Executive Officer
Yep. So, yeah, let me -- on the latter question, there'll be a lot more that becomes public over the next two years in terms of our projections, because we have to be able to give some estimate on getting to the FDA. And when -- you know, what the uptick in volumes will be, I'll come back to that part of your question, Shannon, in just a second. But on the first one, in terms of COGS and opex, you know, obviously, we thought it was important this year that we really drive costs out of the business and we drive efficiencies that we'd be positive EBITDA performance and positive free cash flow.
It's important. It's more than symbolic, you know, because obviously we have a big balance sheet. So, we're fine from a stability standpoint, but it's important that we show you can make money in this business and yet still invest for long-term growth. So, that was our objective.
Because we've insourced part of manufacturing now, that's about 40% of our polymer platforms, we have a really nice opportunity on COGS and the supply chain is getting a little bit better, so. And as we launch new products, we're targeting components that are more widely available, things that we can really get some better pricing on from a purchase standpoint. So, we're working COGS really hard. We're also still working pricing very hard.
So we -- you know, I wish gross margins were rising faster than they are, but they're on an upward trend. We're going to continue that, which is reflected in pricing and COGS. In terms of opex, I mean, honestly, Shannon, we could generate a lot higher EBITDA in the short term if all we cared about was 2023, OK? We're spending money on refreshing our traditional platforms because additives move into factories, and they want fast, productive, cost-effective machinery. So, we've got a ways to go on that.
The SLA 750 is a marvelous example, and this new version of our 2500 as a jetting platform. Great examples. We've got several more to go, and you'll hear about more of those in '23. Those are factory-grade machinery that'll be good in production.
We feel it's important to complete that buildout and refresh of our product line, which will largely happen in '23. And then, on the side, we've got this remarkable effort in regenerative medicine. So, I'll hit that question next. And we are spending millions of dollars on that ourselves.
And we also have an incredible partner in United Therapeutics who we're co-developing the organs with. They are, you know, in my opinion, one of the best partners I've ever encountered. We are intimately involved with them in developing human organs, which I think will change millions of people's lives. But because of that, Shannon, in our core technology, we're able now to take our own investments and branch into other areas, which I believe will bring shorter-term benefits like the human tissue work on breast reconstruction, marvelous area.
So, I have to get through FDA approvals and all that. But it's just one example of dozens of applications in the human body which will bring midterm -- I think -- I figure that as kind of midterm benefit. But then the really, really neat area that we started talking about last year was doing pretty what, for us, is relatively small but complex vascularized tissue specimens to sell into the pharmaceutical market. And that's really neat because you can -- you know, there's a huge payoff for getting better testing of new drugs.
If you can take a year or two out of the development cycle of developing a new drug, it's worth billions of dollars to the company that is doing it, participating in that. Obviously, the pharma company gets a lot of benefit from that. We'll get some benefit from helping with the testing. But we will -- in that case, we will be selling prepackaged -- you can see these on our website -- they're called h-VIOS organ on a chip where we print vascularized tissue, we implant those scaffolds with human cells, either healthy or diseased.
And the coolest example on the website is, on one end, your healthy liver cells all kept alive for, at this point, weeks and months through blood flow through that chip. And on the other end is our cancer cells that they want to test a new drug on. So, when you make this chip, you can pass blood with test drugs through it to look at the effect on the liver cells and, on the other end, on the cancer cells in one test. And we can make those specimens, Shannon, by the hundreds and soon to be thousands.
We'll be announcing a new facility down in Houston, which will be the first bio-factory to make those chips in the coming days, OK? We're in discussions with a large number of pharma companies today, and I expect announcements to come out, certainly more than one this year, about the use of those specimens in drug testing. So, short term, I'm incredibly excited about pharma. I think -- and that's good. And that doesn't require direct FDA approval.
It's customer acceptance of the test for screening new drugs. And then, the pharma company carries on with more of its traditional screening experiments after that. Midterm, it's in human tissue and other human applications. And then, longer term is this remarkable opportunity on organs.
So, we have a short, medium, and long-term focus in regenerative. Well, I think we're ahead of anybody in this industry, particularly through our partnership with United Therapeutics. Remarkable, remarkable technology coming out of this, so much so that we formed a medical advisory board over the last six months. I'm extremely proud of their -- and they are remarkable people that are now giving us their insights into our programs.
And we're trying to really pave the way for commercialization of these technologies. I think it's -- the benefits to mankind are remarkable and to our shareholders will be equally important. So, I feel great about that work from every side. That may have been more than you wanted to know, but I -- and I'll have to stop myself from talking about it now.
I could go on for the rest of the day, Shannon.
Shannon Cross -- Credit Suisse -- Analyst
No, that's very helpful. I guess the last thing, if I could just touch on it, I realize this was a prior administration, but just with regard to the settlement agreement. I think it was about a $15 million fine, and then you have some more expenditures over the three years. Is there anything else that we should be aware of related to it or that could have any impact on your business just to sort of close the loop on it? Thanks.
Jeff Graves -- Chief Executive Officer
No, Shannon. We're obviously happy to settle with the government. We're done. That spanned 2012 to 20 -- late 2018 or early 2019.
Since that time, I will tell you, we've made tremendous progress in our compliance infrastructure. I've personally been involved with it since 2020, and it's first class and we'll make it even better. The cash payments that we owe the government are spread out over several years. You could see -- you'll see the details in the K and in the publication, so that -- so, no ongoing impact on the business.
And then, to top it off, Shannon, you go way back in this industry, we exited the business that was largely the cause of these issues back in 20 -- I think we closed the deal in '21 through the sale of that Quickparts business, that ODM business. That was machining work we were doing in China as a part of that business. We sold that business and got out of it. It wasn't the business for us, and we've, since that time also, in parallel, enhanced our compliance program.
So, I'm very pleased with our position going forward. I'm pleased the federal government is all behind us.
Shannon Cross -- Credit Suisse -- Analyst
Great. Thank you so much.
Jeff Graves -- Chief Executive Officer
Thanks.
Operator
Thank you. Your next question today is coming from Brian Drab from William Blair. Your line is now live.
Blake Keating -- William Blair and Company -- Analyst
All right. Good morning. This is Blake Keating on for Brian. I'll just ask a quick one here since we're at -- you know, it's been an hour.
I just wanted to talk about -- you mentioned in the medium term, your breast scaffolding and tissue products. I was just looking to dive into that a bit. Is this the application that you partnered with CollPlant on? And then, along with that, what do you think is going to differentiate your product versus the others? There are some private companies, you know, that have focused on breast scaffolding with 3D bioprinting. What do you think's going to differentiate that product versus theirs?
Jeff Graves -- Chief Executive Officer
Well, thanks for the question. Now, this program is [Inaudible] to CollPlant. And in fact, we developed most of our own materials, you know, that we believe were better suited to the application, quite frankly, which is why we've gone our separate way right now there. And their collagen-based material may find a home in certain applications.
I hope it does. We're not dependent on that at all for our human tissue work. The way to think about the breast tissue work is just one example of large-volume tissue applications in the body. So, you can think of a lot of trauma examples where someone gets a -- you have some damage to their body that results in large amounts of tissue being removed.
And this -- their ability to print vascularized scaffolds, that's really what distinguishes us, vascularized scaffolds that you can then embed human cells into. In the case of the breast tissue work, and I'd say probably many other parts of the body, you're actually using the patient's own fat cells for implanting in the scaffold. So, these are 100% biocompatible scaffolds and implanted cells. They're kept alive, obviously, indefinitely by the vasculature that's printed into it.
And it's a natural addition back to the human body of their own tissue material, basically. So, we love the solution. I think it highly differentiates us from anybody else in the market. And it's just one example of various parts of the body that we'll end up moving into as we run with this technology.
Blake Keating -- William Blair and Company -- Analyst
Understood. Thank you for the color.
Jeff Graves -- Chief Executive Officer
But maybe one more question, Kevin, and then we'll cut it off, OK?
Operator
Certainly. Our final question today is coming from Ananda Baruah from Loop Capital. Your line is now live.
Ananda Baruah -- Loop Capital Markets -- Analyst
Hey, guys. Good morning. Appreciate it. Hey, just real quick, I'm going to ask one just given the time.
But just sticking with regenerative -- and you've given a lot of rich contexts today, Jeff -- is there anything that -- I don't know if you saw -- have you seen this? You may have because you're in the industry now. But, you know, end of last year, over in the U.K., it came out that some base editing technology has been used to cure certain types of cancers. What's interesting is that the technology isn't yet approved, you know, sort of by the managing bodies, but if you sign the paperwork and if you can get access, you're able to use it. And I guess the question is, do you think --
Jeff Graves -- Chief Executive Officer
Right.
Ananda Baruah -- Loop Capital Markets -- Analyst
Yeah. Do you think, before FDA approval, there's certain things that -- certain of the things that you're working with in regenerative or even in orthopedics that could come to market and be used as proof -- we could see proof of concept even prior to being FDA approved? That would help people, you know, kind of lay a trail of breadcrumbs out to where this is going.
Jeff Graves -- Chief Executive Officer
Yeah, Ananda. You know, it's an excellent question because full and formal FDA approval obviously takes a lot of time. There's breakthrough designations. There's the -- I'm spacing that term right now -- but there's the sympathetic approvals where a patient is going to die if they don't get the treatment.
There are those categories that the FDA and similar bodies overseas has in order to allow new technology to get to market faster. Obviously, we go through all of the work to get full FDA approval. But wherever we can get breakthrough designation or early use designation -- for example, this hospital in Austria, you know, very early use of this Kumovis technology for an implant -- for a skull implant, which changes patients' life. I mean, and it was -- you know, and really, from our perspective of printing, was a very low-risk application for us.
And it was great to get it out there and get it used. So, that all helps in getting, you know, final regulatory approvals. But to your point, and it is a good question, is there are pathways you can follow to get early designation if somebody is going to die. Or, you know, for other reasons, if you had breakthrough designation, you could get it in there.
Part of the reason, Ananda, that I wanted to really form our medical advisory board was to get guidance on that is where do we have an opportunity to go for early approvals for fast-tracking any of the technologies, obviously, balancing risk with patient outcomes to make sure we gather the right data. We're spending a fair amount of money on animal testing now, which we haven't talked about, you know, much at all publicly. But we're doing a fair bit of animal testing on a variety of these technologies in order to gather data, to know when we're ready to go to the regulatory bodies, and, you know, what kind of depth we have to go to in discussion. So, we're going through all the right steps to get there, and hopefully, we will get to market as fast and as safe as we possibly can.
Again, the first things to market, I would expect, will be the pharmaceutical applications for drug discovery. What we're producing in these vascularized chips, Ananda, is remarkable. The ability to keep cells alive for months is an incredible step forward in the ability then to test, to develop big statistics on new drugs. So, that's our goal and soon to be our capability here that we'll be talking about.
After that, human body applications either for tissue or, to your point, orthopedics. And then, beyond that, in the future, obviously organs. That's where we're headed. I think it's a brand-new industry, and I feel great about our leadership position in it.
Ananda Baruah -- Loop Capital Markets -- Analyst
All right. Thanks, Jeff. That's great context. I appreciate it.
Jeff Graves -- Chief Executive Officer
OK.
Operator
Thank you. [Inaudible]
Jeff Graves -- Chief Executive Officer
All right, Kevin.
Operator
Over to you. Please go ahead.
Jeff Graves -- Chief Executive Officer
We should -- yeah. I'm sorry, we should probably wrap it up. But listen, let me just thank everybody for the call. I appreciate you guys tuning in and asking such good questions.
We'll look forward to updating you each quarter. The world's a very dynamic place. You have our best thinking down 2023, and we'll update you as we go along each quarter. So, thanks.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Russell Johnson -- Vice President, Treasury and Investor Relations
Jeff Graves -- Chief Executive Officer
Michael Turner -- Executive Vice President, Chief Financial Officer
Troy Jensen -- Lake Street Capital Markets -- Analyst
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Shannon Cross -- Credit Suisse -- Analyst
Blake Keating -- William Blair and Company -- Analyst
Ananda Baruah -- Loop Capital Markets -- Analyst
More DDD analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool recommends 3d Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3d Systems (NYSE: DDD) Q4 2022 Earnings Call Mar 01, 2023, 8:30 a.m. Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasury and Investor Relations Jeff Graves -- Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Shannon Cross -- Credit Suisse -- Analyst Blake Keating -- William Blair and Company -- Analyst Ananda Baruah -- Loop Capital Markets -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. As this technology now comes online, we're uniquely positioned to provide surgeons a full spectrum of printed solution options, ranging from titanium and cobalt-chrome for joint and bone replacement to advanced medical-grade polymerics for spinal, cranial, and other targeted orthopedic applications, each of which is customized to precisely match the patient needs using the digital tools and processes that we pioneered over the last decade in our healthcare business.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasury and Investor Relations Jeff Graves -- Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Shannon Cross -- Credit Suisse -- Analyst Blake Keating -- William Blair and Company -- Analyst Ananda Baruah -- Loop Capital Markets -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3d Systems (NYSE: DDD) Q4 2022 Earnings Call Mar 01, 2023, 8:30 a.m. For our industrial solutions segment, full-year 2022 revenue, excluding divestitures and the unfavorable impacts of FX, increased by 9.7% as compared to 2021, driven by continued strength in precision microcasting applications and demand for production machines in energy and commercial space applications.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasury and Investor Relations Jeff Graves -- Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Shannon Cross -- Credit Suisse -- Analyst Blake Keating -- William Blair and Company -- Analyst Ananda Baruah -- Loop Capital Markets -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3d Systems (NYSE: DDD) Q4 2022 Earnings Call Mar 01, 2023, 8:30 a.m. Revenue during the quarter benefited from continued strength in precision microcasting applications for jewelry customers, as well as growth in semiconductors and electronics, partially offset by relatively weaker sales to aerospace and motorsports customers as compared to a very strong fourth quarter in the prior year for both of those end markets.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasury and Investor Relations Jeff Graves -- Chief Executive Officer Michael Turner -- Executive Vice President, Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Shannon Cross -- Credit Suisse -- Analyst Blake Keating -- William Blair and Company -- Analyst Ananda Baruah -- Loop Capital Markets -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3d Systems (NYSE: DDD) Q4 2022 Earnings Call Mar 01, 2023, 8:30 a.m. I'll begin this morning with some comments on 3D Systems' performance and achievements during 2022, and then I'll share my thoughts on the company's outlook for 2023 and what we'll be focusing on in the year ahead.
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2023-03-01 00:00:00 UTC
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3D Systems' (DDD) Q4 Loss Narrower Than Expected, Sales Down
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https://www.nasdaq.com/articles/3d-systems-ddd-q4-loss-narrower-than-expected-sales-down
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3D Systems DDD reported fourth-quarter 2022 non-GAAP loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a loss of 8 cents. The bottom line compared unfavorably with the prior-year quarter’s earnings of 9 cents per share.
In the fourth quarter of 2022, 3D Systems reported revenues of $132.7 million, down 12% from the year-ago quarter, which outpaced the consensus mark of $132.3 million. Excluding the impact of business divestments in 2022 and on a constant currency basis, revenues decreased 7.6% year over year.
3D Systems’ fourth-quarter performance reflected impacts of inflationary pressure, foreign exchange risks and supply chain disruptions, among other ongoing macroeconomic constraints.
3D Systems Corporation Price, Consensus and EPS Surprise
3D Systems Corporation price-consensus-eps-surprise-chart | 3D Systems Corporation Quote
Quarter in Detail
In the fourth quarter, product revenues represented 71.4% of the total revenues and decreased 19.4% to $94.7 million. Revenues from Services, which accounted for 28.6% of revenues, climbed 14.1% year over year to $38 million.
Revenues from the Healthcare segment fell 18.5% year over year to $60.7 million. The figure decreased 5.5% from the prior quarter. Excluding the impact of business divestments, the segment’s revenues decreased 16.6% year over year.
The Industrial Division revenues decreased 5.7% year over year to $72 million while it went up by 5.7% sequentially. Excluding the impact of business divestments, the unit’s revenues increased 1.1%. The unit witnessed solid demand for products as well as materials.
Operating Details
During the fourth quarter of 2022, 3D Systems’ non-GAAP gross profit decreased 18.6% year over year to $54.2 million. Consequently, the non-GAAP gross profit margin contracted 320 basis points (bps) to 40.9%. This decrease was because of year-over-year product mix changes, due to divestitures and increased supply chain disruptions.
Non-GAAP operating expenses flared up 18% to $64.1 million. The increase was driven by spending related to future growth, which includes expenses from acquisitions, research and development and corporate infrastructure.
Non-GAAP operating loss was $9.9 million against the year-ago operating income of $12.4 million.
Adjusted EBITDA was negative $4.8 million. The margin of negative 3.6% reflected the inflationary impact on input costs and gradual investments for portfolio & business growth.
Balance Sheet Details
The company exited the fourth quarter with cash, cash equivalents and short-term investments of $568.7 million, lower than the prior quarter's $609.4 million. As of Dec 31, 2022, 3D Systems had a total debt of $449.5 million, up from the previous quarter’s $448.9 million.
In 2022, the company utilized $68.4 million of cash from operational activities.
Full-Year Highlights
For the full-year 2023, 3D Systems reported revenues of $538 million, indicating a slump of 12.6% year over year. However, excluding the impact of business divestments, annual revenues jumped 3.3% year over year. The year-over-year increase in top-line results reflect continued strength in the Industrial segment, growing demand from Healthcare customers, offset by reduced sales to specific dental market customers.
The company reported non-GAAP loss of 23 cents per share compared with earnings of 45 cents reported year ago.
Non-GAAP gross margin contracted 270 bps to 39.8%. Non-GAAP operating expenses increased 22.1% to $241.1 million.
Non-GAAP operating loss was $26.9 million in 2022 against operating income of $33.5 million a year ago. Adjusted EBITDA was negative $5.8 million for the full-year 2023. The margin stood at negative 1.1%.
Guidance
3D Systems expects 2023 revenues to be between $545 million and $575 million.
The company projects non-GAAP gross margin to be 40-42%.
Zacks Rank & Key Picks
3D Systems carries a Zacks Rank #3 (Hold). Shares of DDD have lost 42.4% over the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Airbnb ABNB, Baidu BIDU, and Fabrinet FN, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from breakeven to 14 cents per share over the past 30 days. For 2023, earnings estimates have moved up by 52 cents to $3.38 per share in the past 30 days.
ABNB's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 21.7% in the past year.
The Zacks Consensus Estimate for Baidu’s first-quarter 2023 earnings has been revised 15 cents northward to $2.43 per share over the past 60 days. For 2023, earnings estimates have rose by 6.4% to $11.62 per share over the past 60 days.
BIDU’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 45.5%. Shares of the company have lost 14.2% in the past year.
The Zacks Consensus Estimate for Fabrinet's third-quarter fiscal 2023 earnings has been revised 7 cents upward to $1.90 per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by 24 cents to $7.71 per share in the past 30 days.
FN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing once, the average surprise being 5.1%. Shares of the company have jumped 21.5% in the past year.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD reported fourth-quarter 2022 non-GAAP loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a loss of 8 cents. Shares of DDD have lost 42.4% over the past year. Click to get this free report Baidu, Inc. (BIDU) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Fabrinet (FN) : Free Stock Analysis Report Airbnb, Inc. (ABNB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report Baidu, Inc. (BIDU) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Fabrinet (FN) : Free Stock Analysis Report Airbnb, Inc. (ABNB) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD reported fourth-quarter 2022 non-GAAP loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a loss of 8 cents. Shares of DDD have lost 42.4% over the past year.
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Click to get this free report Baidu, Inc. (BIDU) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Fabrinet (FN) : Free Stock Analysis Report Airbnb, Inc. (ABNB) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD reported fourth-quarter 2022 non-GAAP loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a loss of 8 cents. Shares of DDD have lost 42.4% over the past year.
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3D Systems DDD reported fourth-quarter 2022 non-GAAP loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a loss of 8 cents. Shares of DDD have lost 42.4% over the past year. Click to get this free report Baidu, Inc. (BIDU) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Fabrinet (FN) : Free Stock Analysis Report Airbnb, Inc. (ABNB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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e63ff391-3a0e-4d5e-9053-820e5e3539b5
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716455.0
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2023-02-28 00:00:00 UTC
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3D Systems (DDD) Reports Q4 Loss, Tops Revenue Estimates
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-reports-q4-loss-tops-revenue-estimates
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3D Systems (DDD) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 25%. A quarter ago, it was expected that this maker of 3D printers would post a loss of $0.09 per share when it actually produced a loss of $0.05, delivering a surprise of 44.44%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
3D Systems, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $132.73 million for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 0.30%. This compares to year-ago revenues of $150.87 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
3D Systems shares have added about 36.2% since the beginning of the year versus the S&P 500's gain of 3.7%.
What's Next for 3D Systems?
While 3D Systems has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for 3D Systems: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.09 on $130.99 million in revenues for the coming quarter and -$0.18 on $559.74 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Mini computers is currently in the bottom 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Computer and Technology sector, Synnex (SNX), is yet to report results for the quarter ended February 2023.
This high-tech contractor is expected to post quarterly earnings of $2.83 per share in its upcoming report, which represents a year-over-year change of -6.6%. The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level.
Synnex's revenues are expected to be $15.74 billion, up 1.7% from the year-ago quarter.
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3D Systems Corporation (DDD) : Free Stock Analysis Report
TD SYNNEX Corp. (SNX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (DDD) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.08. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report TD SYNNEX Corp. (SNX) : Free Stock Analysis Report To read this article on Zacks.com click here. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report TD SYNNEX Corp. (SNX) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems (DDD) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.08. 3D Systems, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $132.73 million for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 0.30%.
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3D Systems (DDD) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.08. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report TD SYNNEX Corp. (SNX) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $132.73 million for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 0.30%.
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3D Systems (DDD) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.08. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report TD SYNNEX Corp. (SNX) : Free Stock Analysis Report To read this article on Zacks.com click here. The company has topped consensus revenue estimates just once over the last four quarters.
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6a4052eb-4314-42f2-a17d-c4c4709b87f6
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716456.0
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2023-02-27 00:00:00 UTC
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3D printer company to pay U.S. up to $27 mln for violating export curbs to China
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DDD
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https://www.nasdaq.com/articles/3d-printer-company-to-pay-u.s.-up-to-%2427-mln-for-violating-export-curbs-to-china
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nan
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By Karen Freifeld
WASHINGTON, Feb 27 (Reuters) - 3D Systems Corp on Monday agreed to pay up to $27 million to settle with the U.S. for illegally exporting to China controlled design drawings for military electronics and spacecraft, among other violations.
Rock Hill, South Carolina-based 3D Systems, which provides 3D printing and other services to customers in the U.S. and abroad, emailed design documents, blueprints and technical specification to Quickparts.com, Inc., its then-subsidiary's office in China for price quotes, the Commerce Department said.
The emails included design drawings for aerospace technology that required U.S. export licenses. It also illegally sent documents to Germany where it had a server for employee emails without the required licenses.
"Sending export-controlled blueprints for aerospace and military electronics to China is detrimental to U.S. national security," Assistant Secretary for Export Enforcement Matthew Axelrod said.
Besides the Commerce Department, the company also settled with the U.S. Department of Justice and the U.S. Department of State.
The Justice Department settlement involves 3D's improperly transmitting technical data to China in connection with NASA and Department of Defense contracts, the U.S. Attorney for the Northern District of Texas said in a statement.
Its settlement calls for $2.27 million payable within 30 days, and another $2.27 million it fails to pay at least that amount to the other agencies.
The State Department settlement imposes a civil penalty of $20 million, with half suspended so long as the money is used to strengthen the company's compliance program.
The Commerce Department penalty is for $2.8 million.
In addition to the aerospace documents, the Commerce Department said, 3D Systems exported metal alloy powder to China without a license, although it is restricted for national security and nuclear nonproliferation reasons.
"The company is pleased to have reached a settlement with the agencies and remains committed to continuing to enhance its export controls program," 3D Systems said in a statement.
Last year, the U.S. Department of Commerce took action against three companies at the same Wilmington, North Carolina, address, for similar violations: sending technical drawings and blueprints of satellite, rocket and defense technology to China.
(Reporting by Karen Freifeld; Editing by Chris Sanders and Sandra Maler)
((Karen.freifeld@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Karen Freifeld WASHINGTON, Feb 27 (Reuters) - 3D Systems Corp on Monday agreed to pay up to $27 million to settle with the U.S. for illegally exporting to China controlled design drawings for military electronics and spacecraft, among other violations. Rock Hill, South Carolina-based 3D Systems, which provides 3D printing and other services to customers in the U.S. and abroad, emailed design documents, blueprints and technical specification to Quickparts.com, Inc., its then-subsidiary's office in China for price quotes, the Commerce Department said. Last year, the U.S. Department of Commerce took action against three companies at the same Wilmington, North Carolina, address, for similar violations: sending technical drawings and blueprints of satellite, rocket and defense technology to China.
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By Karen Freifeld WASHINGTON, Feb 27 (Reuters) - 3D Systems Corp on Monday agreed to pay up to $27 million to settle with the U.S. for illegally exporting to China controlled design drawings for military electronics and spacecraft, among other violations. The emails included design drawings for aerospace technology that required U.S. export licenses. In addition to the aerospace documents, the Commerce Department said, 3D Systems exported metal alloy powder to China without a license, although it is restricted for national security and nuclear nonproliferation reasons.
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By Karen Freifeld WASHINGTON, Feb 27 (Reuters) - 3D Systems Corp on Monday agreed to pay up to $27 million to settle with the U.S. for illegally exporting to China controlled design drawings for military electronics and spacecraft, among other violations. Besides the Commerce Department, the company also settled with the U.S. Department of Justice and the U.S. Department of State. In addition to the aerospace documents, the Commerce Department said, 3D Systems exported metal alloy powder to China without a license, although it is restricted for national security and nuclear nonproliferation reasons.
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The emails included design drawings for aerospace technology that required U.S. export licenses. Besides the Commerce Department, the company also settled with the U.S. Department of Justice and the U.S. Department of State. In addition to the aerospace documents, the Commerce Department said, 3D Systems exported metal alloy powder to China without a license, although it is restricted for national security and nuclear nonproliferation reasons.
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24a295a1-c435-4dc8-a4e5-32431af8cda0
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716457.0
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2023-02-27 00:00:00 UTC
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Notable Monday Option Activity: AMR, DDD, IRBT
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DDD
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https://www.nasdaq.com/articles/notable-monday-option-activity%3A-amr-ddd-irbt
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Alpha Metallurgical Resources Inc (Symbol: AMR), where a total volume of 1,193 contracts has been traded thus far today, a contract volume which is representative of approximately 119,300 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 51.7% of AMR's average daily trading volume over the past month, of 230,910 shares. Especially high volume was seen for the $200 strike call option expiring March 17, 2023, with 223 contracts trading so far today, representing approximately 22,300 underlying shares of AMR. Below is a chart showing AMR's trailing twelve month trading history, with the $200 strike highlighted in orange:
3D Systems Corp. (Symbol: DDD) saw options trading volume of 6,446 contracts, representing approximately 644,600 underlying shares or approximately 51.2% of DDD's average daily trading volume over the past month, of 1.3 million shares. Especially high volume was seen for the $16 strike call option expiring May 19, 2023, with 2,037 contracts trading so far today, representing approximately 203,700 underlying shares of DDD. Below is a chart showing DDD's trailing twelve month trading history, with the $16 strike highlighted in orange:
And iRobot Corp (Symbol: IRBT) saw options trading volume of 2,561 contracts, representing approximately 256,100 underlying shares or approximately 50.6% of IRBT's average daily trading volume over the past month, of 506,420 shares. Especially high volume was seen for the $45 strike call option expiring April 21, 2023, with 2,003 contracts trading so far today, representing approximately 200,300 underlying shares of IRBT. Below is a chart showing IRBT's trailing twelve month trading history, with the $45 strike highlighted in orange:
For the various different available expirations for AMR options, DDD options, or IRBT options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Top Monthly Dividend Paying Stocks
Funds Holding GST
ESES Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $16 strike call option expiring May 19, 2023, with 2,037 contracts trading so far today, representing approximately 203,700 underlying shares of DDD. Below is a chart showing AMR's trailing twelve month trading history, with the $200 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) saw options trading volume of 6,446 contracts, representing approximately 644,600 underlying shares or approximately 51.2% of DDD's average daily trading volume over the past month, of 1.3 million shares. Below is a chart showing DDD's trailing twelve month trading history, with the $16 strike highlighted in orange: And iRobot Corp (Symbol: IRBT) saw options trading volume of 2,561 contracts, representing approximately 256,100 underlying shares or approximately 50.6% of IRBT's average daily trading volume over the past month, of 506,420 shares.
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Below is a chart showing AMR's trailing twelve month trading history, with the $200 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) saw options trading volume of 6,446 contracts, representing approximately 644,600 underlying shares or approximately 51.2% of DDD's average daily trading volume over the past month, of 1.3 million shares. Below is a chart showing DDD's trailing twelve month trading history, with the $16 strike highlighted in orange: And iRobot Corp (Symbol: IRBT) saw options trading volume of 2,561 contracts, representing approximately 256,100 underlying shares or approximately 50.6% of IRBT's average daily trading volume over the past month, of 506,420 shares. Below is a chart showing IRBT's trailing twelve month trading history, with the $45 strike highlighted in orange: For the various different available expirations for AMR options, DDD options, or IRBT options, visit StockOptionsChannel.com.
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Below is a chart showing AMR's trailing twelve month trading history, with the $200 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) saw options trading volume of 6,446 contracts, representing approximately 644,600 underlying shares or approximately 51.2% of DDD's average daily trading volume over the past month, of 1.3 million shares. Below is a chart showing DDD's trailing twelve month trading history, with the $16 strike highlighted in orange: And iRobot Corp (Symbol: IRBT) saw options trading volume of 2,561 contracts, representing approximately 256,100 underlying shares or approximately 50.6% of IRBT's average daily trading volume over the past month, of 506,420 shares. Especially high volume was seen for the $16 strike call option expiring May 19, 2023, with 2,037 contracts trading so far today, representing approximately 203,700 underlying shares of DDD.
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Below is a chart showing AMR's trailing twelve month trading history, with the $200 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) saw options trading volume of 6,446 contracts, representing approximately 644,600 underlying shares or approximately 51.2% of DDD's average daily trading volume over the past month, of 1.3 million shares. Especially high volume was seen for the $16 strike call option expiring May 19, 2023, with 2,037 contracts trading so far today, representing approximately 203,700 underlying shares of DDD. Below is a chart showing DDD's trailing twelve month trading history, with the $16 strike highlighted in orange: And iRobot Corp (Symbol: IRBT) saw options trading volume of 2,561 contracts, representing approximately 256,100 underlying shares or approximately 50.6% of IRBT's average daily trading volume over the past month, of 506,420 shares.
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db863440-271f-41d6-a9bb-1d16d3dd2b39
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716458.0
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2023-02-15 00:00:00 UTC
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Noteworthy Wednesday Option Activity: RIOT, DDD, HSY
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DDD
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-riot-ddd-hsy
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Riot Platforms Inc (Symbol: RIOT), where a total volume of 90,118 contracts has been traded thus far today, a contract volume which is representative of approximately 9.0 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 54.4% of RIOT's average daily trading volume over the past month, of 16.6 million shares. Particularly high volume was seen for the $7 strike call option expiring February 17, 2023, with 12,009 contracts trading so far today, representing approximately 1.2 million underlying shares of RIOT. Below is a chart showing RIOT's trailing twelve month trading history, with the $7 strike highlighted in orange:
3D Systems Corp. (Symbol: DDD) options are showing a volume of 6,552 contracts thus far today. That number of contracts represents approximately 655,200 underlying shares, working out to a sizeable 53% of DDD's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $5 strike put option expiring January 17, 2025, with 5,000 contracts trading so far today, representing approximately 500,000 underlying shares of DDD. Below is a chart showing DDD's trailing twelve month trading history, with the $5 strike highlighted in orange:
And Hershey Company (Symbol: HSY) options are showing a volume of 6,390 contracts thus far today. That number of contracts represents approximately 639,000 underlying shares, working out to a sizeable 52.4% of HSY's average daily trading volume over the past month, of 1.2 million shares. Particularly high volume was seen for the $230 strike call option expiring February 17, 2023, with 2,483 contracts trading so far today, representing approximately 248,300 underlying shares of HSY. Below is a chart showing HSY's trailing twelve month trading history, with the $230 strike highlighted in orange:
For the various different available expirations for RIOT options, DDD options, or HSY options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
ETFs Holding CCP
ETFs Holding FDEF
AKCA Stock Predictions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $5 strike put option expiring January 17, 2025, with 5,000 contracts trading so far today, representing approximately 500,000 underlying shares of DDD. Below is a chart showing RIOT's trailing twelve month trading history, with the $7 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) options are showing a volume of 6,552 contracts thus far today. That number of contracts represents approximately 655,200 underlying shares, working out to a sizeable 53% of DDD's average daily trading volume over the past month, of 1.2 million shares.
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Below is a chart showing RIOT's trailing twelve month trading history, with the $7 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) options are showing a volume of 6,552 contracts thus far today. That number of contracts represents approximately 655,200 underlying shares, working out to a sizeable 53% of DDD's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $5 strike put option expiring January 17, 2025, with 5,000 contracts trading so far today, representing approximately 500,000 underlying shares of DDD.
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Below is a chart showing RIOT's trailing twelve month trading history, with the $7 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) options are showing a volume of 6,552 contracts thus far today. That number of contracts represents approximately 655,200 underlying shares, working out to a sizeable 53% of DDD's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $5 strike put option expiring January 17, 2025, with 5,000 contracts trading so far today, representing approximately 500,000 underlying shares of DDD.
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Below is a chart showing HSY's trailing twelve month trading history, with the $230 strike highlighted in orange: For the various different available expirations for RIOT options, DDD options, or HSY options, visit StockOptionsChannel.com. Below is a chart showing RIOT's trailing twelve month trading history, with the $7 strike highlighted in orange: 3D Systems Corp. (Symbol: DDD) options are showing a volume of 6,552 contracts thus far today. That number of contracts represents approximately 655,200 underlying shares, working out to a sizeable 53% of DDD's average daily trading volume over the past month, of 1.2 million shares.
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a8efe4b5-065e-4c32-b89e-fc45a5d81330
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716459.0
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2023-02-15 00:00:00 UTC
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3D Systems (DDD) Boosts Portfolio With ProJet MJP 2500W Plus
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-boosts-portfolio-with-projet-mjp-2500w-plus
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nan
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3D Systems DDD recently unveiled ProJet MultiJet Printing (MJP) 2500W Plus, a 100% wax jewelry patterns 3D printer that delivers durable, high-quality jewelry patterns for reliable performance and results throughout existing lost-wax casting processes and equipment.
The 3D Systems ProJet MJP 2500W Plus enables high-volume production or rapid single-lane printing of pure wax casting patterns at fast print speeds to improve the casting room efficiency by decreasing the time, costs and geometric limitations of tooling. With a large build volume capacity and 24/7 operation, the high productivity of this affordable 3D printer implies fast amortization and a high return on investment.
The new 3D printer prints in VisiJet wax materials that melts like standard casting waxes, with zero ash content for defect-free castings. It enables the ProJet MJP 2500W Plus to print true-to-CAD, finely featured jewelry patterns with exact, razor-sharp edges and extremely crisp details visualization. The 3D Systems advanced 3D Sprint software capabilities further ensures that customers can streamline their file-to-pattern workflow.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
Capable of delivering high-resolution, dissolvable and meltable casting patterns in hours, ProJet MJP 2500W Plus supports reduced finishing labor and polishing of costly precious metals while delivering excellent surface quality results. It features a new ZHD print mode that comes with two times vertical resolution enhancement offering high-quality surface finish. This feature lowers the need for manual polishing of final parts without raising further consumption of wax material as well as optimizing the loss of gold for the user.
Currently available for purchase and shipping, the ProJet MJP 2500W Plus is likely to increase users’ throughput by up to 25% as compared with other available solutions in the 3D printing market.
3D Systems is anticipating material science to be a key driver in the transition to 3D production. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
Going forward, 3D Systems expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
Last month, rms Company, the largest U.S.-based medical device manufacturer, integrated 3D Systems’ Direct Metal Printing (DMP) Flex 350 Dual printers into its contract manufacturing workflow to ensure an improvement in productivity standards by up to 50%. The Company expects that the integration will help it expand the types of implants it produces and accelerate throughput, thereby enabling it to cater to the evolving application needs of the medical industry.
The DMP Flex 350 Dual is the latest addition to 3D Systems’ DMP portfolio. The printer is designed for flexible application use in research and development projects, application development or serial production.
In September 2022, the additive manufacturer declared the formation of a wholly owned bioprinting startup, Systemic Bio, to accelerate the development of new drugs, which will aid in reducing or eliminating the need for animal testing. This is likely to expand DDD’s growth opportunities in the domain of pharmaceuticals and create a new revenue stream that could reach $100 million annually over the next five years.
Zacks Rank & Key Picks
Currently, 3D Systems carries a Zacks Rank #3 (Hold). Shares of DDD have plunged 42.9% over the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Baidu BIDU, Fabrinet FN and Bandwidth BAND. While Baidu and Fabrinet sport a Zacks Rank #1 (Strong Buy), Bandwidth carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Baidu’s fourth-quarter 2022 earnings has been revised 49 cents southward to $2.14 per share over the past 30 days. For 2022, earnings estimates have dropped by 3.4% to $8.64 per share over the past 30 days.
BIDU’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 50.2%. Shares of the company have lost 10.7% in the past year.
The Zacks Consensus Estimate for Fabrinet's third-quarter fiscal 2023 earnings has been revised 7 cents upward to $1.90 per share over the past seven days. For fiscal 2023, earnings estimates have moved north by 24 cents to $7.71 per share in the past seven days.
FN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing once, the average surprise being 5.1%. Shares of the company have jumped 23.9% in the past year.
The Zacks Consensus Estimate for Bandwidth’s fourth-quarter 2022 earnings has been revised by a penny to 4 cents per share over the past 90 days. For 2022, earnings estimates have moved north by 5 cents to 37 cents per share in the past 90 days.
BAND's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 301.8%. Shares of the company have declined 60.8% in the past year.
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Baidu, Inc. (BIDU) : Free Stock Analysis Report
3D Systems Corporation (DDD) : Free Stock Analysis Report
Fabrinet (FN) : Free Stock Analysis Report
Bandwidth Inc. (BAND) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD recently unveiled ProJet MultiJet Printing (MJP) 2500W Plus, a 100% wax jewelry patterns 3D printer that delivers durable, high-quality jewelry patterns for reliable performance and results throughout existing lost-wax casting processes and equipment. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend. This is likely to expand DDD’s growth opportunities in the domain of pharmaceuticals and create a new revenue stream that could reach $100 million annually over the next five years.
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3D Systems DDD recently unveiled ProJet MultiJet Printing (MJP) 2500W Plus, a 100% wax jewelry patterns 3D printer that delivers durable, high-quality jewelry patterns for reliable performance and results throughout existing lost-wax casting processes and equipment. Click to get this free report Baidu, Inc. (BIDU) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Fabrinet (FN) : Free Stock Analysis Report Bandwidth Inc. (BAND) : Free Stock Analysis Report To read this article on Zacks.com click here. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
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Click to get this free report Baidu, Inc. (BIDU) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report Fabrinet (FN) : Free Stock Analysis Report Bandwidth Inc. (BAND) : Free Stock Analysis Report To read this article on Zacks.com click here. 3D Systems DDD recently unveiled ProJet MultiJet Printing (MJP) 2500W Plus, a 100% wax jewelry patterns 3D printer that delivers durable, high-quality jewelry patterns for reliable performance and results throughout existing lost-wax casting processes and equipment. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
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3D Systems DDD recently unveiled ProJet MultiJet Printing (MJP) 2500W Plus, a 100% wax jewelry patterns 3D printer that delivers durable, high-quality jewelry patterns for reliable performance and results throughout existing lost-wax casting processes and equipment. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend. This is likely to expand DDD’s growth opportunities in the domain of pharmaceuticals and create a new revenue stream that could reach $100 million annually over the next five years.
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fd755f42-5679-4b2e-9bfe-979461f7999d
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716460.0
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2023-02-01 00:00:00 UTC
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3D Systems Corp. Shares Close the Day 12.5% Higher - Daily Wrap
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DDD
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https://www.nasdaq.com/articles/3d-systems-corp.-shares-close-the-day-12.5-higher-daily-wrap
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nan
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nan
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3D Systems Corp. (DDD) shares closed today 12.5% higher than it did at the end of yesterday. The stock is currently up 48.8% year-to-date, down 39.6% over the past 12 months, and up 7.5% over the past five years. Today, the Dow Jones Industrial Average fell 0.1%, and the S&P 500 rose 1.5%.
Trading Activity
Shares traded as high as $11.14 and as low as $9.48 this week.
Shares closed 39.6% below its 52-week high and 76.5% above its 52-week low.
Trading volume this week was 8.6% higher than the 10-day average and 16.8% higher than the 30-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.9.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed above its Bollinger band, indicating it may be overbought.
Market Comparative Performance
The company's share price beats the S&P 500 Index today, lags it on a 1-year basis, and lags it on a 5-year basis
The company's share price beats the Dow Jones Industrial Average today, lags it on a 1-year basis, and lags it on a 5-year basis
The company share price beats the performance of its peers in the Industrials industry sector today, lags it on a 1-year basis, and lags it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by 289.1%
The company's stock price performance over the past 12 months lags the peer average by 140.8%
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems Corp. (DDD) shares closed today 12.5% higher than it did at the end of yesterday. Today, the Dow Jones Industrial Average fell 0.1%, and the S&P 500 rose 1.5%. Market Comparative Performance The company's share price beats the S&P 500 Index today, lags it on a 1-year basis, and lags it on a 5-year basis The company's share price beats the Dow Jones Industrial Average today, lags it on a 1-year basis, and lags it on a 5-year basis The company share price beats the performance of its peers in the Industrials industry sector today, lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 289.1% The company's stock price performance over the past 12 months lags the peer average by 140.8%
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3D Systems Corp. (DDD) shares closed today 12.5% higher than it did at the end of yesterday. Today, the Dow Jones Industrial Average fell 0.1%, and the S&P 500 rose 1.5%. Market Comparative Performance The company's share price beats the S&P 500 Index today, lags it on a 1-year basis, and lags it on a 5-year basis The company's share price beats the Dow Jones Industrial Average today, lags it on a 1-year basis, and lags it on a 5-year basis The company share price beats the performance of its peers in the Industrials industry sector today, lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 289.1% The company's stock price performance over the past 12 months lags the peer average by 140.8%
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3D Systems Corp. (DDD) shares closed today 12.5% higher than it did at the end of yesterday. Market Comparative Performance The company's share price beats the S&P 500 Index today, lags it on a 1-year basis, and lags it on a 5-year basis The company's share price beats the Dow Jones Industrial Average today, lags it on a 1-year basis, and lags it on a 5-year basis The company share price beats the performance of its peers in the Industrials industry sector today, lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 289.1% The company's stock price performance over the past 12 months lags the peer average by 140.8% This story was produced by the Kwhen Automated News Generator.
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3D Systems Corp. (DDD) shares closed today 12.5% higher than it did at the end of yesterday. Shares closed 39.6% below its 52-week high and 76.5% above its 52-week low. Trading volume this week was 8.6% higher than the 10-day average and 16.8% higher than the 30-day average.
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c3c3561c-b798-4dba-b096-07cd93481b55
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716461.0
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2022-12-30 00:00:00 UTC
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Relative Strength Alert For 3D Systems Corp.
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DDD
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https://www.nasdaq.com/articles/relative-strength-alert-for-3d-systems-corp.
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nan
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nan
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Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Friday, shares of 3D Systems Corp. (Symbol: DDD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $7.11 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 43.0. A bullish investor could look at DDD's 29.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDD shares:
Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $22.67 as the 52 week high point — that compares with a last trade of $7.22.
Find out what 9 other oversold stocks you need to know about »
Also see:
Computer Peripherals Dividend Stocks
ONXX Historical Stock Prices
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of 3D Systems Corp. (Symbol: DDD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $7.11 per share. A bullish investor could look at DDD's 29.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDD shares: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $22.67 as the 52 week high point — that compares with a last trade of $7.22.
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In trading on Friday, shares of 3D Systems Corp. (Symbol: DDD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $7.11 per share. A bullish investor could look at DDD's 29.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDD shares: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $22.67 as the 52 week high point — that compares with a last trade of $7.22.
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In trading on Friday, shares of 3D Systems Corp. (Symbol: DDD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $7.11 per share. The chart below shows the one year performance of DDD shares: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $22.67 as the 52 week high point — that compares with a last trade of $7.22. A bullish investor could look at DDD's 29.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
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In trading on Friday, shares of 3D Systems Corp. (Symbol: DDD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $7.11 per share. A bullish investor could look at DDD's 29.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDD shares: Looking at the chart above, DDD's low point in its 52 week range is $7.02 per share, with $22.67 as the 52 week high point — that compares with a last trade of $7.22.
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8bc44afe-c4b1-456b-82f3-cfa8016954fa
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716462.0
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2022-12-19 00:00:00 UTC
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3D Systems Corp. Shares Fall 1.7% Below Previous 52-Week Low - Market Mover
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DDD
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https://www.nasdaq.com/articles/3d-systems-corp.-shares-fall-1.7-below-previous-52-week-low-market-mover
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nan
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nan
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3D Systems Corp. (DDD) shares closed 1.7% lower than its previous 52 week low, giving the company a market cap of $991M. The stock is currently down 64.9% year-to-date, down 65.4% over the past 12 months, and down 22.9% over the past five years. This week, the Dow Jones Industrial Average fell 3.7%, and the S&P 500 fell 4.3%.
Trading Activity
Trading volume this week was 25.9% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.9.
Technical Indicators
The Relative Strength Index (RSI) on the stock was under 30, indicating it may be underbought.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis
The company share price is the same as the performance of its peers in the Industrials industry sector , lags it on a 1-year basis, and lags it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date lags the peer average by 135.5%
The company's stock price performance over the past 12 months lags the peer average by 149.6%
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems Corp. (DDD) shares closed 1.7% lower than its previous 52 week low, giving the company a market cap of $991M. Beta, a measure of the stock’s volatility relative to the overall market stands at 1.9. The stock closed below its Bollinger band, indicating it may be oversold.
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3D Systems Corp. (DDD) shares closed 1.7% lower than its previous 52 week low, giving the company a market cap of $991M. This week, the Dow Jones Industrial Average fell 3.7%, and the S&P 500 fell 4.3%. Technical Indicators The Relative Strength Index (RSI) on the stock was under 30, indicating it may be underbought.
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3D Systems Corp. (DDD) shares closed 1.7% lower than its previous 52 week low, giving the company a market cap of $991M. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by 135.5% The company's stock price performance over the past 12 months lags the peer average by 149.6% This story was produced by the Kwhen Automated News Generator.
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3D Systems Corp. (DDD) shares closed 1.7% lower than its previous 52 week low, giving the company a market cap of $991M. This week, the Dow Jones Industrial Average fell 3.7%, and the S&P 500 fell 4.3%. Technical Indicators The Relative Strength Index (RSI) on the stock was under 30, indicating it may be underbought.
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c88b6556-6349-4c27-89dd-75812beda73f
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716463.0
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2022-12-18 00:00:00 UTC
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3D Systems Corp. Shares Fall 0.7% Below Previous 52-Week Low - Market Mover
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DDD
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https://www.nasdaq.com/articles/3d-systems-corp.-shares-fall-0.7-below-previous-52-week-low-market-mover
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nan
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nan
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3D Systems Corp. (DDD) shares closed 0.7% lower than its previous 52 week low, giving the company a market cap of $1B. The stock is currently down 61.6% year-to-date, down 62.1% over the past 12 months, and down 18.5% over the past five years. This week, the Dow Jones Industrial Average fell 1.7%, and the S&P 500 fell 2.1%.
Trading Activity
Trading volume this week was 483.4% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.9.
Technical Indicators
The Relative Strength Index (RSI) on the stock was under 30, indicating it may be underbought.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis
The company share price is the same as the performance of its peers in the Industrials industry sector , lags it on a 1-year basis, and lags it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date lags the peer average by 131.8%
The company's stock price performance over the past 12 months lags the peer average by 146.6%
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems Corp. (DDD) shares closed 0.7% lower than its previous 52 week low, giving the company a market cap of $1B. Beta, a measure of the stock’s volatility relative to the overall market stands at 1.9. The stock closed below its Bollinger band, indicating it may be oversold.
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3D Systems Corp. (DDD) shares closed 0.7% lower than its previous 52 week low, giving the company a market cap of $1B. This week, the Dow Jones Industrial Average fell 1.7%, and the S&P 500 fell 2.1%. Technical Indicators The Relative Strength Index (RSI) on the stock was under 30, indicating it may be underbought.
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3D Systems Corp. (DDD) shares closed 0.7% lower than its previous 52 week low, giving the company a market cap of $1B. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by 131.8% The company's stock price performance over the past 12 months lags the peer average by 146.6% This story was produced by the Kwhen Automated News Generator.
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3D Systems Corp. (DDD) shares closed 0.7% lower than its previous 52 week low, giving the company a market cap of $1B. This week, the Dow Jones Industrial Average fell 1.7%, and the S&P 500 fell 2.1%. Technical Indicators The Relative Strength Index (RSI) on the stock was under 30, indicating it may be underbought.
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c57124e1-46f2-4d2a-a908-ef1033baf1cb
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716464.0
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2022-12-08 00:00:00 UTC
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3D Systems (DDD) Up 12.7% Since Last Earnings Report: Can It Continue?
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-up-12.7-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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It has been about a month since the last earnings report for 3D Systems (DDD). Shares have added about 12.7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is 3D Systems due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
3D Systems’ Q3 Loss Narrower Than Expected, Sales Miss
3D Systems reported a third-quarter 2022 non-GAAP loss of 5 cents per share, narrower than the Zacks Consensus Estimate of a loss of 9 cents. The bottom line compared unfavorably with the prior-year quarter’s earnings of 8 cents per share.
In the third quarter of 2022, 3D Systems reported revenues of $132.3 million, down 15.3% from the year-ago quarter and 5.5% from the previous quarter. Excluding the impact of business divestments in 2022 and on a constant currency basis, revenues increased 2.7% year over year. The top line lagged the consensus mark of $137.4 million for the third consecutive quarter.
3D Systems’ third-quarter performance reflected impacts of inflationary pressure, foreign exchange risks and supply chain disruptions, among other ongoing macroeconomic constraints.
Shares of DDD have slumped 73.3% in the past year.
Quarter in Detail
In the third quarter, product revenues represented 72.8% of the total revenues and decreased 11.6% to $96.3 million. Revenues from Services, which accounted for 27.1% of revenues, plunged 23.9% year over year to $35.9 million.
Revenues from the Healthcare segment fell 16% year over year to $64.2 million. The figure decreased 10.5% from the prior quarter. Excluding the impact of business divestments, the segment’s revenues decreased 3.5% year over year.
The Industrial Division revenues decreased 14.6% year over year to $68.1 million and 0.3% sequentially. Excluding the impact of business divestments, the unit’s revenues increased 9%. The company witnessed solid demand for products, as well as materials.
Operating Details
During the third quarter of 2022, 3D Systems’ non-GAAP gross profit decreased 4.5% year over year to $52.8 million. Consequently, the non-GAAP gross profit margin contracted 60 basis points (bps) to 39.9%. This decrease was driven by year-over-year product mix changes, due to divestitures and increased supply chain disruptions.
Non-GAAP operating expenses increased 18.3% to $58.3 million. The increase was due to spending related to future growth, which includes expenses from acquisitions, research and development, and corporate infrastructure.
Non-GAAP operating loss was $5.5 million compared with the year-ago operating income of $6 million.
Adjusted EBITDA was negative $0.3 million. The margin of negative 0.2% reflected the inflationary impact on input costs and gradual investments for portfolio & business growth.
Balance Sheet Details
The company exited the third quarter with cash, cash equivalents and short-term investments of $609.4 million, lower than the prior quarter's $638.2 million. As of Sep 30, 2022, 3D Systems had a total debt of $448.9 million, slightly up from the previous quarter’s $448.1 million.
In the first nine months of 2022, the company utilized $52.4 million of cash from operational activities.
Guidance
3D Systems trimmed its full-year 2022 guidance for the third time. The company now expects revenues between $535 million and $545 million compared with the previously expected band of $530-$570 million. The company still projects non-GAAP gross margin to be 39-41%.
Non-GAAP operating expense is estimated to be $240-$245 million, decreasing the lower end from the earlier projection of $245-$250 million.
Management provided this guidance with the assumption that the pandemic, supply chain disruptions or any geopolitical events will not be of any concern in 2022.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -31.76% due to these changes.
VGM Scores
At this time, 3D Systems has an average Growth Score of C, a grade with the same score on the momentum front. However, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise 3D Systems has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
3D Systems belongs to the Zacks Computer - Mini computers industry. Another stock from the same industry, Apple (AAPL), has gained 4.5% over the past month. More than a month has passed since the company reported results for the quarter ended September 2022.
Apple reported revenues of $90.15 billion in the last reported quarter, representing a year-over-year change of +8.1%. EPS of $1.29 for the same period compares with $1.24 a year ago.
For the current quarter, Apple is expected to post earnings of $1.97 per share, indicating a change of -6.2% from the year-ago quarter. The Zacks Consensus Estimate has changed -4.1% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Apple. Also, the stock has a VGM Score of D.
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3D Systems Corporation (DDD) : Free Stock Analysis Report
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To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It has been about a month since the last earnings report for 3D Systems (DDD). Shares of DDD have slumped 73.3% in the past year. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. It has been about a month since the last earnings report for 3D Systems (DDD). Shares of DDD have slumped 73.3% in the past year.
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Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. It has been about a month since the last earnings report for 3D Systems (DDD). Shares of DDD have slumped 73.3% in the past year.
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It has been about a month since the last earnings report for 3D Systems (DDD). Shares of DDD have slumped 73.3% in the past year. Click to get this free report 3D Systems Corporation (DDD) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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c781788b-02df-4b43-9bbb-65b31231afa0
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716465.0
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2022-12-05 00:00:00 UTC
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Insider Buying in 3D Systems, Live Nation and 5 Others
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DDD
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https://www.nasdaq.com/articles/insider-buying-in-3d-systems-live-nation-and-5-others
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nan
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nan
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Insiders can sell for a whole host of reasons, including to make other investments, buy a house and pay for life's expenses. Insider selling doesn't have to mean the insider is necessarily bearish on the underlying stock. However, insider buying only occurs for one reason: they believe the stock price is going higher.
As Peter Lynch once said: "Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
With that, let's look at some recent insider buying.
3D Systems (DDD)
Starting off our list is 3D Systems (US:DDD), as it has not only had insider buying but insider buying from its CEO Jeffrey Graves.
Graves also serves as a director and the company's president, so it stood out when he bought 10,000 shares at $9.70 on Nov. 25 and 10,000 shares at $9.50 on Nov. 28th.
The second purchase pushed his total stake to 569,181 total shares.
Rocket Companies (RKT)
There's been plenty of insider buying by the CEO at Rocket Companies (US:RKT). Via a 10b5-1 plan, Jay Farner has been gobbling up stock.
On Nov. 25, Farner bought 25,900 shares for $7.71 apiece. Then a flurry of action took place late in the month, as he purchased 26,400 shares on Nov. 28, 25,700 shares on Nov. 29 and 25,300 shares on Nov. 30th.
Farner scooped up 103,300 shares over a five-day stretch, with each purchase worth just over $199,000. It pushed his total stake to 5.65 million shares.
Karat Packaging (KRT)
Another CEO purchase took place this week with Karat Packaging (US:KRT). Alan Yu, who also serves as the company's chairman, bought 4,000 shares at $13.47 on Nov. 28th.
The total purchase was good for more than $50,000, although it was modest compared to his total stake of 7.371 million shares.
Carvana (CVNA)
Carvana (US:CVNA) is exciting because the company is struggling right now. It's even going through another round of layoffs, and shares recently made new 52-week lows.
Yet insiders are gobbling up the stock.
On Nov. 7, two directors bought a combined 150,000 shares between $7.40 and $8.61, while another director bought 8,000 shares at $10 apiece on Nov. 14th.
President Thomas Taira bought a combined 45,000 shares between two different dates last month, while Chief Product Officer Daniel Gill more than doubled his stake by purchasing 133,000 shares at $7.62 apiece on Nov. 21st.
Prologis (PLD)
Prologis (US:PLD) showed up on some insider buying scans this week when director David O'Connor scooped up 9,000 shares at $114.13 apiece on Nov. 28th.
The purchase was good for just over $1 million.
Live Nation (LYV)
Another $1 million insider purchase took place, this time with Live Nation (US:LYV). That's after Jimmy Iovine bought 13,740 shares at $73.28 apiece on Dec. 1st. Iovine, who is a director at the company, purchased those shares in a trust but directly owns 32,792 shares as well.
If that name sounds familiar, Iovine is co-founder of Interscope Records and Beats Electronics, which was eventually sold to Apple (US:AAPL) for $3 billion.
Cosmos Holdings (COSM)
Last but not least, we have Cosmos Holdings (US:COSM), which has been popping up in many scans over the past few weeks, given the stock's immense volatility. From the November low to the November high, shares rallied almost 1,100% but have now pulled back more than 50% in just a couple of days.
As if that volatility weren't enough, Grigorios Siokas, CEO, director and a stakeholder of more than 10% of the firm, bought more than 800,000 shares on Nov. 28 at an average price of 62 cents a share.
While the stock trades for less than $1, the purchase was good for almost $500,000 and brought his stake to more than 20 million shares.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (DDD) Starting off our list is 3D Systems (US:DDD), as it has not only had insider buying but insider buying from its CEO Jeffrey Graves. Insiders can sell for a whole host of reasons, including to make other investments, buy a house and pay for life's expenses. As Peter Lynch once said: "Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
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3D Systems (DDD) Starting off our list is 3D Systems (US:DDD), as it has not only had insider buying but insider buying from its CEO Jeffrey Graves. Karat Packaging (KRT) Another CEO purchase took place this week with Karat Packaging (US:KRT). Prologis (PLD) Prologis (US:PLD) showed up on some insider buying scans this week when director David O'Connor scooped up 9,000 shares at $114.13 apiece on Nov. 28th.
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3D Systems (DDD) Starting off our list is 3D Systems (US:DDD), as it has not only had insider buying but insider buying from its CEO Jeffrey Graves. Then a flurry of action took place late in the month, as he purchased 26,400 shares on Nov. 28, 25,700 shares on Nov. 29 and 25,300 shares on Nov. 30th. On Nov. 7, two directors bought a combined 150,000 shares between $7.40 and $8.61, while another director bought 8,000 shares at $10 apiece on Nov. 14th.
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3D Systems (DDD) Starting off our list is 3D Systems (US:DDD), as it has not only had insider buying but insider buying from its CEO Jeffrey Graves. With that, let's look at some recent insider buying. On Nov. 25, Farner bought 25,900 shares for $7.71 apiece.
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de64845d-275a-4f1f-80b1-d3386cbcddd0
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716466.0
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2022-11-30 00:00:00 UTC
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Wednesday 11/30 Insider Buying Report: MOFG, DDD
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DDD
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https://www.nasdaq.com/articles/wednesday-11-30-insider-buying-report%3A-mofg-ddd
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nan
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nan
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Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Tuesday, MidWestOne Financial Group's Chief Executive Officer, Charles N. Reeves, made a $856,738 purchase of MOFG, buying 24,858 shares at a cost of $34.47 each. MidWestOne Financial Group is trading off about 0.7% on the day Wednesday.
And on Monday, CEO Jeffrey A. Graves bought $192,000 worth of 3D Systems, buying 20,000 shares at a cost of $9.60 a piece. Before this latest buy, Graves made one other buy in the past year, purchasing $106,480 shares at a cost of $10.50 each. 3D Systems is trading up about 4.2% on the day Wednesday.
VIDEO: Wednesday 11/30 Insider Buying Report: MOFG, DDD
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: Wednesday 11/30 Insider Buying Report: MOFG, DDD The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. On Tuesday, MidWestOne Financial Group's Chief Executive Officer, Charles N. Reeves, made a $856,738 purchase of MOFG, buying 24,858 shares at a cost of $34.47 each.
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VIDEO: Wednesday 11/30 Insider Buying Report: MOFG, DDD The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. On Tuesday, MidWestOne Financial Group's Chief Executive Officer, Charles N. Reeves, made a $856,738 purchase of MOFG, buying 24,858 shares at a cost of $34.47 each. MidWestOne Financial Group is trading off about 0.7% on the day Wednesday.
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VIDEO: Wednesday 11/30 Insider Buying Report: MOFG, DDD The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. On Tuesday, MidWestOne Financial Group's Chief Executive Officer, Charles N. Reeves, made a $856,738 purchase of MOFG, buying 24,858 shares at a cost of $34.47 each.
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VIDEO: Wednesday 11/30 Insider Buying Report: MOFG, DDD The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
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716467.0
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2022-11-11 00:00:00 UTC
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3D Systems (DDD) and ALM Team Up for Portfolio Expansion
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https://www.nasdaq.com/articles/3d-systems-ddd-and-alm-team-up-for-portfolio-expansion
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3D Systems DDD recently announced that it has inked a partnership with Texas-based ALM to expand access to industry-leading additive manufacturing materials. As part of the agreement, 3D Systems will allow ALM to add 3D Systems’ DuraForm PAx material into its portfolio.
This will give ALM customers access to a unique nylon copolymer, which features properties similar to injection molded plastics. The technology can be used with any commercially-available selective laser sintering (SLS) printer to manufacture tough, lightweight, production-grade parts for applications like tooling handles, orthotics, splints and braces, ducting in rugged environments, living hinges, liquid reservoirs and enclosures.
With 3D Systems’ DuraForm PAx, ALM customers will be able to get access to 3D printing materials that offer elevated impact resistance with high elongation at break in any direction. This deal widens the choices available to them, which they can use for the application development process.
The DuraForm Pax material, which can be processed easily, is highly recyclable, indicating that it will help ALM customers reduce waste and decrease production costs. The material’s low printing temperatures reduce the time to part in hand and increase printer uptime, enabling manufacturers to gain a competitive edge and accelerate their supply chains. The material offers long-term stability of over five years indoors and is designated as a clean running material that implies low operator maintenance.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
Both partners will be showcasing the first-to-market DuraForm PAx solution as part of their additive manufacturing solutions portfolio in their respective booths at the Formnext 2022 event.
3D Systems is the sole distributor of the DuraForm Pax material at present. The company intends to develop other materials showcasing superior performance in the powder-bed fusion platform by utilizing SLS printing technology in the future.
3D Systems is anticipating material science to be a key driver in the transition to 3D production. It is investing large sums in material innovation across its portfolio to capitalize on this trend. Moving forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
In September, the additive manufacturer declared the formation of a wholly-owned bioprinting startup, Systemic Bio, to accelerate the development of new drugs that will aid in reducing or eliminating the need for animal testing. This is likely to expand 3D Systems’ growth opportunities in the domain of pharmaceuticals and create a new revenue stream that could reach $100 million annually over the next five years.
Shares of the company declined 64% in the past year.
Zacks Rank & Stocks to Consider
3D Systems currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader Computer and Technology sector are Celestica CLS, Fabrinet FN and Zscaler ZS. While Celestica and Fabrinet flaunt a Zacks Rank #1 (Strong Buy), Zscaler carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Celestica’s fourth-quarter 2022 earnings has increased by 9 cents to 53 cents per share over the past 30 days. For 2022, earnings estimates have moved 16 cents up to $1.86 per share in the past 30 days.
CLS' earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 11.8%. Shares of the company have declined 2.8% in the past year.
The Zacks Consensus Estimate for Fabrinet's second-quarter fiscal 2023 earnings has been revised 4 cents northward to $1.77 per share over the past seven days. For fiscal 2023, earnings estimates have improved by 17 cents to $7.12 per share in the past seven days.
FN’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, missing once, the average surprise being 5.4%. Shares of the company have gained 3.4% in the past year.
The Zacks Consensus Estimate for Zscaler's first-quarter fiscal 2023 earnings has been revised 7 cents north to 26 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved north by 15 cents to $1.18 per share in the past 60 days.
ZS' earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 28.6%. Shares of the company have declined 61.9% in the past year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Celestica, Inc. (CLS): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
Fabrinet (FN): Free Stock Analysis Report
Zscaler, Inc. (ZS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD recently announced that it has inked a partnership with Texas-based ALM to expand access to industry-leading additive manufacturing materials. Moving forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems Corporation (DDD): Free Stock Analysis Report 3D Systems DDD recently announced that it has inked a partnership with Texas-based ALM to expand access to industry-leading additive manufacturing materials. Moving forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
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3D Systems DDD recently announced that it has inked a partnership with Texas-based ALM to expand access to industry-leading additive manufacturing materials. Moving forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD recently announced that it has inked a partnership with Texas-based ALM to expand access to industry-leading additive manufacturing materials. Moving forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings. 3D Systems Corporation (DDD): Free Stock Analysis Report
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456aaaad-0009-4435-a9bd-28d0860d84e9
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716468.0
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2022-11-09 00:00:00 UTC
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3D Systems' (DDD) Q3 Loss Narrower Than Expected, Sales Miss
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https://www.nasdaq.com/articles/3d-systems-ddd-q3-loss-narrower-than-expected-sales-miss
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3D Systems DDD reported a third-quarter 2022 non-GAAP loss of 5 cents per share, narrower than the Zacks Consensus Estimate of a loss of 9 cents. The bottom line compared unfavorably with the prior-year quarter’s earnings of 8 cents per share.
In the third quarter of 2022, 3D Systems reported revenues of $132.3 million, down 15.3% from the year-ago quarter and 5.5% from the previous quarter. Excluding the impact of business divestments in 2022 and on a constant currency basis, revenues increased 2.7% year over year. The top line lagged the consensus mark of $137.4 million for the third consecutive quarter.
3D Systems’ third-quarter performance reflected impacts of inflationary pressure, foreign exchange risks and supply chain disruptions, among other ongoing macroeconomic constraints.
Shares of DDD have slumped 73.3% in the past year.
3D Systems Corporation Price, Consensus and EPS Surprise
3D Systems Corporation price-consensus-eps-surprise-chart | 3D Systems Corporation Quote
Quarter in Detail
In the third quarter, product revenues represented 72.8% of the total revenues and decreased 11.6% to $96.3 million. Revenues from Services, which accounted for 27.1% of revenues, plunged 23.9% year over year to $35.9 million.
Revenues from the Healthcare segment fell 16% year over year to $64.2 million. The figure decreased 10.5% from the prior quarter. Excluding the impact of business divestments, the segment’s revenues decreased 3.5% year over year.
The Industrial Division revenues decreased 14.6% year over year to $68.1 million and 0.3% sequentially. Excluding the impact of business divestments, the unit’s revenues increased 9%. The company witnessed solid demand for products, as well as materials.
Operating Details
During the third quarter of 2022, 3D Systems’ non-GAAP gross profit decreased 4.5% year over year to $52.8 million. Consequently, the non-GAAP gross profit margin contracted 60 basis points (bps) to 39.9%. This decrease was driven by year-over-year product mix changes, due to divestitures and increased supply chain disruptions.
Non-GAAP operating expenses increased 18.3% to $58.3 million. The increase was due to spending related to future growth, which includes expenses from acquisitions, research and development, and corporate infrastructure.
Non-GAAP operating loss was $5.5 million compared with the year-ago operating income of $6 million.
Adjusted EBITDA was negative $0.3 million. The margin of negative 0.2% reflected the inflationary impact on input costs and gradual investments for portfolio & business growth.
Balance Sheet Details
The company exited the third quarter with cash, cash equivalents and short-term investments of $609.4 million, lower than the prior quarter's $638.2 million. As of Sep 30, 2022, 3D Systems had a total debt of $448.9 million, slightly up from the previous quarter’s $448.1 million.
In the first nine months of 2022, the company utilized $52.4 million of cash from operational activities.
Guidance
3D Systems trimmed its full-year 2022 guidance for the third time. The company now expects revenues between $535 million and $545 million compared with the previously expected band of $530-$570 million. The company still projects non-GAAP gross margin to be 39-41%.
Non-GAAP operating expense is estimated to be $240-$245 million, decreasing the lower end from the earlier projection of $245-$250 million.
Management provided this guidance with the assumption that the pandemic, supply chain disruptions or any geopolitical events will not be of any concern in 2022.
Zacks Rank & Key Picks
3D Systems currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader Computer and Technology sector are Zscaler ZS, Celestica CLS and Okta OKTA, each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Zscaler's first-quarter fiscal 2023 earnings has been revised 7 cents north to 26 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved north by 15 cents to $1.18 per share in the past 60 days.
ZS' earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 28.6%. Shares of the company have declined 66% in the past year.
The Zacks Consensus Estimate for Celestica’s fourth-quarter 2022 earnings has increased by 9 cents to 53 cents per share over the past 30 days. For 2022, earnings estimates have moved 16 cents up to $1.86 per share in the past 30 days.
CLS' earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 11.8%. Shares of the company have declined 4.3% in the past year.
The Zacks Consensus Estimate for Okta's third-quarter fiscal 2023 loss has been revised 3 cents northward to 24 cents per share over the past 90 days. For fiscal 2023, loss estimates have improved by 3 cents to 72 cents per share in the past 60 days.
OKTA’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 45.5%. Shares of the company have plunged 82.2% in the past year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Celestica, Inc. (CLS): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
Okta, Inc. (OKTA): Free Stock Analysis Report
Zscaler, Inc. (ZS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD reported a third-quarter 2022 non-GAAP loss of 5 cents per share, narrower than the Zacks Consensus Estimate of a loss of 9 cents. Shares of DDD have slumped 73.3% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD reported a third-quarter 2022 non-GAAP loss of 5 cents per share, narrower than the Zacks Consensus Estimate of a loss of 9 cents. Shares of DDD have slumped 73.3% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD reported a third-quarter 2022 non-GAAP loss of 5 cents per share, narrower than the Zacks Consensus Estimate of a loss of 9 cents. Shares of DDD have slumped 73.3% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD reported a third-quarter 2022 non-GAAP loss of 5 cents per share, narrower than the Zacks Consensus Estimate of a loss of 9 cents. Shares of DDD have slumped 73.3% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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2e7d27e0-7cf1-41db-bb50-f2b79081eba9
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716469.0
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2022-11-09 00:00:00 UTC
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3D Systems (DDD) Q3 2022 Earnings Call Transcript
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-q3-2022-earnings-call-transcript
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Image source: The Motley Fool.
3D Systems (NYSE: DDD)
Q3 2022 Earnings Call
Nov 09, 2022, 8:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning and welcome to 3D Systems conference call and audio webcast to discuss the results of the third quarter 2022. My name is Kevin, and I'll facilitate the audio portion of today's interactive broadcast. [Operator instructions] At this time, I'd like to turn the call over to Russell Johnson, vice president, treasury and investor relations. Please go ahead.
Russell Johnson -- Vice President, Treasurer and Investor Relations
Good morning, and welcome to 3D Systems' third quarter 2022 conference call. With me on today's call are Dr. Jeffrey Graves, president and chief executive officer; Michael Turner, executive vice president and chief financial officer; and Andrew Johnson, executive vice president and chief legal officer. The webcast portion of this call contains a slide presentation that we will refer to during the call.
Those following along on the phone who wish to access the slide portion of this presentation may do so on the investor relations section of our website. For those who have access to streaming portion of the webcast, please be aware that there may be a few seconds delay and that you will not be able to post questions via the web. The following discussions and responses to your questions reflect management views as of today only and will include forward-looking statements as described on this slide. Actual results may differ materially.
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Additional information about factors that could potentially impact our financial results is included in last night's press release and our filings with the SEC, including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q. During this call, we will discuss certain non-GAAP financial measures. In our press release and slides accompanying this webcast, which are both available on our investor relations website, you will find additional disclosures regarding these non-GAAP measures, including reconciliations of these measures with comparable GAAP measures. Finally, unless otherwise stated, all comparisons in this call will be against our results for the comparable period of 2021.
With that, I'll turn the call over to our CEO, Jeff Graves, for opening remarks.
Jeff Graves -- Chief Executive Officer
Thanks, Russell, and good morning, everyone. I'll open this morning with a few comments on the current business climate, our position in the markets, and a summary of our Q3 performance. After that, I'll turn the call over to our new CFO, Michael Turner, for a more detailed review of our third quarter results. I know that many of you are looking forward to hearing from Michael for the first time.
Having joined the company in September, Michael has already proven to be an excellent leader of our finance organization and a valuable addition to our executive team. So welcome aboard, Michael. Reflecting on the year to date, the global economic and geopolitical backdrop has compounded existing supply chain disruptions created by the COVID pandemic. While these macro headwinds are negatively impacting many companies, the good news for our industry is that customers are increasingly adopting additive manufacturing in their production operations in order to reduce supply chain risks, enhance product design flexibility, and reduce manufacturing costs.
This gives us an opportunity for growth even in a more cautious capital investment environment. For 3D Systems specifically, we benefited this year from our prior efforts to focus and streamline the company while significantly strengthening our balance sheet. This has allowed us to make important investments in new technology platforms and in operational efficiency initiatives, which are already showing results. Our customers are confident that once recession fears subside, we will emerge from this period stronger than ever with a completely refreshed product lineup and efficient operational footprint and the scale needed to support their growth.
In the meantime, we're focusing intently on execution, profitability, and cash performance, which is what our customers and our shareholders expect from an industry leader. On behalf of my nearly 2,000 dedicated 3D Systems colleagues around the world, as we finish out the year and look ahead to 2023, I can tell you that we're proud of our leadership role in the additive industry and very confident about the future. Turning then to Slide 5. Reflecting on our third quarter, we delivered results that were basically in line with our internal expectations and, in some areas, exceeded them.
From an operating standpoint, high inflation is impacting both purchase components and labor costs. We're taking pricing actions, where possible, to offset these pressures, but there's typically a lag effect that can put a drag on quarterly performance. In addition, the strength of the U.S. dollars clearly impacted our financial performance.
Michael will shed more light on these factors in a few moments. On the positive side, supply chains are showing signs of initial stabilization. And if no further disruptions occur, we expect this trend to continue. Our engineers have worked hard to increase our component supply base and to design our new products with more sourcing options in mind.
With regard to our in-sourcing of manufacturing, I'm very pleased with the progress we've made in our Rock Hill, South Carolina production facility, which we took over mid-quarter from a contract manufacturer. This plant will soon produce over 40% of our polymer printing systems. We expect that percentage to grow rapidly as our investments in people and technology gain momentum. In the third quarter, we were pleased to see our production rates increase, our productivity improve, and our gross margins begin to expand as the workforce transition to 3D Systems management.
I want to give a sincere shout-out to our new manufacturing colleagues in South Carolina. Your efforts are noticed and greatly appreciated. From a broader standpoint, inflation is taking a significant toll on global markets that are dependent upon discretionary consumer spending. As consumers spend more on daily necessities like food and gasoline, they have less to spend on optional items.
For us, this impacts our dental markets and particularly, our orthodontic products. While this is still a great business that we're fully committed to, key customers have slowed their spending, which, while largely anticipated in our previous guidance, can clearly be seen in our financials. Fortunately, we expect this business to strengthen once the economy normalizes, but this may take some time. More to come on our market dynamics in a few moments, but for now, I want to give you a clear understanding of our position in the industry and how our business model works in this volatile climate.
As additive manufacturing and production environments becomes widespread, we're very well-positioned to enable rapid adoption across virtually all market verticals. The reasons are twofold. First, we have the greatest experience base to draw on. With over 20,000 production printers active in the field, consuming almost 5,000 tons of our proprietary materials each year, our customers produce over 1 million parts every day using our technology.
This output is greater than the entire rest of the industry combined, giving us unparalleled experience in the management of large fleets of printers and in the integration of complex workflows in our customers' factories around the world. Second, over the last two and a half years, we've reorganized and restructured our company into two market-facing business units, industrial solutions, and healthcare solutions. This enables us to focus on market-specific applications, developing with our customers the most effective manufacturing workflows and then supporting the transfer of these technologies into their factories. Once complete, additional workflows are then added and manufacturing capacity expanded to support their growth plans.
This approach has proven highly effective, and we believe it will drive exciting growth for our company in the years ahead. This operational model is one that we increasingly see mimicked by others around our industry, but the key to success is having a full complement of metal and polymer printing technologies supported by software expertise and a wide range of production materials. It is the combination of these elements, to address specific high-value applications, that our customers are looking for in a partner. That is what sets our company apart from the competition, and this gap continues to grow.
Today, at 3D Systems, our core technology span, not only the broadest range of metal and polymer systems in the industry but now also include the unique materials and printing systems that I broadly refer to as biologics. These truly groundbreaking materials and printing technologies are essential in addressing biological applications within the human body and in the development of new methodologies for drug development. When viewed in total, this unique combination of technologies and application expertise in a company with global scale allows us to assume a leadership position in the additive industry as we now enter true production environments. With that introduction, I'll now turn to Slide 6 for a brief overview of the quarter.
For the consolidated company, after adjusting for businesses that we divested during 2021, revenue for the third quarter decreased 3.2% year over year. However, adjusting for the impact of foreign currency fluctuations, consolidated revenue increased 2.7%, showing the significant negative impact of the strong U.S. dollar. While this growth rate is much lower than we would like, we fully expect to meet our long-term expectations of double-digit organic growth in the years ahead, as consumer spending rebounds and additive manufacturing takes hold in production environments across virtually all market segments.
Turning to our divestiture-adjusted segment performance in the third quarter. Revenue for our industrial solutions segment was flat year over year but increased nearly 9% in constant currency. Revenue for our healthcare solutions segment decreased 6.6% per year and decreased 3.5% in constant currency, driven by a substantial slowing of our dental segment due to softer consumer spending. As we saw last quarter, the FX impact on our industrial solutions segment was most pronounced due to that segment's exposure to manufacturers and service bureau customers in Europe and Asia Pacific.
With that said, the currency impact on healthcare solutions sales was also material. In our industrial solutions business, we saw regional variations in the third quarter. In Europe, the war in Ukraine and uncertainty regarding recession and energy supplies continue to pressure our customers. This is impactful given our industrial solutions segment's historically strong market presence in Europe and particularly, in Germany.
On the positive side, demand in the Americas remained robust during the third quarter and with strong SLA printer sales into the energy and commercial space verticals. We also saw solid demand for our recently acquired Titan printer platform among consumer goods and defense customers. In our healthcare solutions business, the third quarter performance varied sharply by market. In our medical devices business, we saw significant year-over-year growth in printer sales to customers who manufacture orthopedic and surgical instrumentation.
And our industry-leading business of providing virtual surgical planning packages and other personalized healthcare solutions for doctors, surgeons, and hospitals had a strong quarter as well. The broader story here is the demand for nonelective surgical procedures is holding up well despite economic uncertainty. Within that strong market, 3D system stands out for best-in-class suite of products, strong regulatory infrastructure, and our years of experience using additive manufacturing solutions to improve patient outcomes. However, the biggest factor for our healthcare solutions business during the quarter was a significant year-over-year decline in dental market sales, particularly in the orthodontic area.
As we communicated to our investors last quarter, we were aware that this decline was coming. And our general results for the third quarter, while disappointing, were roughly in line with our expectations. It's difficult to gauge how long this softer demand might last because it's so dependent on how macroeconomic conditions evolve over the coming quarters. We expect this business to eventually recover and to be a strong contributor to our growth and profitability.
So, despite these ups and downs, we believe we now have good visibility into our broad business performance for the remainder of this year. This is why, as Michael will describe for you in a moment, we're updating our full year 2022 guidance to significantly tighten our revenue range while improving the forecast for operating expenses to reflect strong execution and cost controls. Turning to Slide 7. I'd like to highlight some advancements from the third quarter.
These are not only interesting in isolation, but they also provide valuable insights into the type of core activities that will drive our company's growth in the next five years. As I described for you on our last quarter's call, we agreed during the third quarter to acquire dp polar, the Germany-based developer of the industry's first additive manufacturing system designed for true high-speed mass production of customized components. I'm pleased to report that we closed this acquisition in early October, ahead of schedule, and integration efforts are well underway. I can't emphasize enough the importance of bringing this revolutionary printer technology into the 3D Systems portfolio.
The machine's continuously rotating build platform can print jetted polymer parts up to five times faster than today's batch process systems, which represents a quantum leap toward true mass production of custom componentry using additive manufacturing. We plan to move forward with this technology as fast as possible with a critical mass of dp polar machines moving into beta testing with key customers in 2023 and initial commercial sales targeted for 2024. If any of you are planning to be at the upcoming Formnext Trade Show in November, I strongly encourage you to visit the dp polar booth and see this exciting new system for yourself. With our metal printing portfolio, we continue to leverage the unique capabilities of our applications innovation group, along with our strong lineup of metal printing technologies, to drive solution sales to customers in both industrial and healthcare segments.
Our technological advantage is primarily in our atmosphere control system, which is the industry's best for the manufacture of reactive metals such as titanium, nickel, and refractory metal alloys. We've been very successful recently with customers in commercial space and medical devices, both of which are extremely well suited to our technology and the type of application-focused customer-specific printing solutions in which 3D Systems is long specialized. During the third quarter, we also announced several significant additions to our materials portfolio. On the polymer side, we introduced two new production-grade materials, tough clear for our Figure 4 projection-based printing platforms, and DuraForm PAx Black for SLS printer line.
Both of these materials address critical applications with key customers across several market verticals. On the metals front, we introduced new copper nickel alloy, CuNi30, which is now certified for use on all of our DMP metal printing solutions. This copper nickel alloy was developed in close collaboration with Newport News Shipbuilding, which is a division of Huntington Ingalls Industries and is the largest shipbuilding company in the United States. Copper can be particularly challenging to 3D print due to its high reflectivity.
However, it's an ideal material for extremely demanding applications in marine systems, chemical processing plants, oil and gas, and of course, rocketry. Turning to Slide 8, and before I hand off to Michael, I want to highlight the tremendous progress we're making on one of my most important goals for 3D Systems, namely the creation of a world-class regenerative medicine business. As I've shared with you previously, our efforts in this area are currently proceeding along three primary lines: First, through a long-standing partnership with our biotechnology partner, United Therapeutics, we've achieved remarkable progress toward our goal of 3D printing functional human organs for transplantation, initially targeting lungs, but now with an expanded scope, including livers and kidneys. Our partner announced publicly this summer that our goal is to have printed organs in human trials within five years.
Second, building on the organ program's technological progress, we've expanded into the adjacent field of printing non-organ human tissue for transplantation and surgical reconstruction applications. More details regarding this exciting initiative will be announced in the months ahead. But today, I want to focus on the third initiative, which is summarized on Chart 8. In this case, we're leveraging our expertise in creating vascularized human tissue and combining this capability with our polymer printing expertise to develop and manufacture highly differentiated organs on chips for use in drug discovery and development by the pharmaceutical industry.
During the third quarter, we marked a major milestone in this initiative with our announcement of the formation of a new wholly owned biotech company called Systemic Bio. This subsidiary is being managed as an internal start-up with its own dedicated management team and R&D staff. We've committed to support Systemic Bio with an initial seed investment of $15 million, which should sustain the company until it reaches a material level of revenue and profitability. One point that I want to emphasize is that Systemic Bio's go-to-market strategy will differ from 3D Systems' traditional business model.
Due to the unique value of the printed products themselves and the sensitivity of this novel technology platform, Systemic Bio will not sell printers and materials, rather it will work with customers to develop organ and disease-specific human models for organs on chips, and then we'll market those chips directly to pharmaceutical and biotech companies engaged in drug discovery. To support the business model, Systemic Bio has invented a novel patent-print pending organ-on-a-chip platform which we call h-VIOS. This stands for human vascularized integrated organ system. This platform is comprised of 3D-printed microfluidic components and bioprinted vascularized 3D scaffolds.
Once printed, these custom-designed vascularized scaffolds are then seeded with any desired combination of healthy or disease cell types for Houston drug studies. We're producing h-VIOS chips daily at our state-of-the-art laboratory in Houston, Texas, where they're being tested by our Systemic Bio's team of scientists to validate their use for modeling specific organ and disease functions in collaboration with key pharma customers. As you can see in the images on Slide 8, virtually any desired vasculature architecture can be printed and then mass produced to develop the statistical data needed for drug studies. Turning to Slide 9.
Let me emphasize what differentiates Systemic Bio's technological approach from those in the market today and therefore, why we're so excited about this new business. The 3D bioprinted fully integrated vasculature contained within 3D -- within Systemic Bio's h-VIOS chip can closely mimic human organ structures, allowing for active perfusion of blood through the tissue sample, as shown in the lower left image, where you can see blood flow through the printed structure. This vasculature is critical for cell survival as the blood flow is needed to bring nutrients to the implanted cells and then remove waste products just as the process works within your body. You can see the success of this approach in the lower right-hand image on Slide 9, with the green regions being human cells that have thrived in this printed tissue sample for over 28 days.
This is unique, and it's the true magic of the h-VIOS system. The cell types comprising these tissues can be of any type. For example, on one end of the chip can be human liver cells, and on the other end can be cancer cells with the printed blood vessels connecting them together in a continuous circuit. Developmental drugs can then be introduced to evaluate the interaction with both the healthy cells and the cancer cells in a continuous blood flow environment with an ability to create virtually any combination of tissues at high volumes.
For evaluation using this technology, we believe that the drug development cycle can be shortened, success rates enhanced, and the use of animal testing ultimately eliminated over time. From a financial standpoint, our goal is to establish key contracts with the pharmaceutical industry companies over the next year to affirm the technology and incorporate it into drug development protocols. Needless to say, I'm tremendously excited about the potential of this new business, and I'm driving to see early customer validation of our technology. Investors in our company should note that we believe Systemic Bio, given its highly advanced bioprinting and biomaterial capabilities and its business model of selling proprietary h-VIOS chips rather than printing technology, has the potential to achieve profit margins more like a biotech company than a manufacturing technology supplier.
Based upon early customer feedback, I believe Systemic Bio could be a $100 million revenue company within five years. I'm confident that we'll announce the first agreement with a major pharmaceutical company in the near future, and we look forward to sharing the progress with you. Before I turn the call over to Michael, I'd like to close my remarks by turning to Slide 10 to highlight our software business. 3D Systems has long been an innovator in 3D printing software, offering specialized applications such as Geomagic, 3D Sprint, and 3D Experts.
We advanced that position significantly in late 2021 by acquiring Oqton, a leading provider of software solutions to utilize AI and machine learning to help manufacturers intelligently automate their entire digital production workflows. Since the acquisition of Oqton, we've transformed our entire software go-to-market strategy. All software operations are now under a single management structure with that being Oqton. And we're integrating 3D Systems legacy stand-alone applications into the Oqton manufacturing OS.
The end-to-end result will be complete cloud-based digital manufacturing solution that is hardware-agnostic and technology neutral. It will be able to seamlessly integrate the entire factory floor across multiple sites with a digital thread that provides complete control and traceability of every action in the manufacturing workflow from order to delivery. The combined suite of Oqton and 3D system software provides, by far, the most complete and feature-rich software offering in the additive industry today, as shown in the comparison table on Slide 10. While customers themselves can put together point solutions for each feature, an approach commonly called do-it-yourself, or DIY, they're hesitant to do so given the cost and complexity of the approach.
The only alternative to this approach are the leading CAD suppliers shown in the middle column or other 3D equipment manufacturers who, at best, have only a fraction of the capability spectrum that Oqton offers. And we will continue to refine and add to the Oqton offering over time through both R&D investments and through commercial partnerships with leading players in the field of industrial automation. As just one example of our development road map, Oqton is in partnership discussions with major manufacturing partners that would include joint development of new software functionality in part identification, e-commerce, and cataloging. Most importantly, the new integrated Oqton suite of applications not only leads the industry, it has the potential to become a key enabler of true serial scale additive manufacturing that can make an impact on our entire industry.
For this reason, we have opened Oqton's availability to the entire additive manufacturing industry. This includes all elements of the new Oqton platform, including the historical 3D Systems printing software, as we believe it will have a tremendous impact on the acceptance of additive manufacturing broadly. To facilitate industrywide adoption, the Oqton business is run as a stand-alone operation with a high priority on protection of user-sensitive data, including externally audited firewalls to ensure security and confidentiality. With this approach, Oqton is gaining traction every day and now has customer wins in the automotive, aerospace, contract manufacturing, healthcare, and dental markets.
With growth potential ranging from double to triple digits, we're very excited about the future of this software platform. And with that, I'd like to turn the call over to Michael to review our third quarter financial results. Michael?
Michael Turner -- Executive Vice President and Chief Financial Officer
All right. Great. Thanks, Jeff, for the warm welcome. I'm excited to be here, and I look forward to upcoming opportunities to meet our investor and analyst community directly.
Before I start, I'd like to remind everyone that 3D Systems made three significant divestitures in 2021. The earnings release that we issued last night contains tables with non-GAAP measures relating to our 2021 results, from which we excluded the impact of the 2021 divested businesses. Likewise, on today's call, any reference that I'll make to our 2021 results will be on that same ex divestiture basis. The point of this adjustment is to make our 2022 results comparable to our 2021 results on an organic basis.
Starting out on Slide 12 of the presentation. As Jeff discussed, our revenue results for the quarter were generally in line with our expectations with some bright spots in certain areas that we will highlight to you this morning. As we saw last quarter, the overall business environment during the third quarter remained challenging due to continued FX headwinds, inflationary pressures, recessionary fears, persistent supply chain challenges, and geopolitical tensions. However, the biggest headwind we faced during the quarter, which we expected and called out in our revised Q2 guidance, was a significant year-over-year decline in revenues from dental market customers.
Revenue for the third quarter was $132.3 million, a decrease of 15.3% versus the prior year. Excluding divestitures and the unfavorable impact of FX, revenue increased by 2.7% compared to the prior year. This top-line growth reflects continued solid demand in both our industrial and healthcare segments, partially offset by weakness in dental market sales, which, as you know, represents a significant portion of our overall business. Just to quantify the impact on revenue from some of the factors I mentioned earlier, starting with FX.
We experienced headwinds of over $8 million related to the sharp appreciation of the U.S. dollar that occurred during the third quarter, which reduced the U.S. dollar value of our international sales made in foreign currencies, which typically represents roughly 40% of our total sales. There may have also been some third quarter international sales that did not materialize because, in some cases, we price our overseas product offerings in U.S.
dollars. And in these cases, the customer has to convert more of their local currency earnings into U.S. dollars to pay us, which represents a price increase for them and can therefore result in some lost sales. On our second quarterearnings call we highlighted two additional items that had an adverse impact on our year-over-year revenue growth: one being the Russia-Ukraine conflict and the other being persistent supply chain disruptions.
Both of these items had less of an impact during the third quarter. Regarding sales to Russia. While our second quarter of 2021 sales to Russia were relatively material, by the start of the third quarter of 2021, we had largely exited the Russian market. And as a result, our year-over-year revenue comparisons for the third quarter were much less impacted than what we saw in Q2.
And on the supply chain front, you'll recall that we commented on the impact of these disruptions, including component shortages, as well as inefficiencies and portions of our contract manufacturing network that caused us to get behind on supply to orders. We estimate that the total impact of supply chain issues in Q2 resulted in approximately $9 million of customer orders that we cannot ship as planned. During the current quarter, however, we were able to significantly catch up on many of these late shipments. And as a result, we estimate that we had approximately $2 million of firm customer printer orders that we're unable to ship due to supply chain delays.
I'm pleased to say that this was, in large part, attributable to our decision early last quarter to bring one of our major outsourced printer manufacturing facilities back in-house. This has enabled us to significantly increase the rate of printer production at that facility and thereby work on our backlog of late customer orders, while also having a favorable impact on gross profit margins. And lastly, for consolidated year-to-date revenue, looking back over the first nine months of the year, we grew revenue, excluding divestitures and the unfavorable impacts of FX, by 7.6%. Despite a very challenging operating environment, we were able to achieve year-over-year revenue growth for the first nine months of the year in the high single digits.
Turning now to Slide 13 for a review of segment revenues. For our healthcare solutions segment, revenue, excluding divestitures and the unfavorable impact of FX, decreased by 3.5% as compared to the third quarter of the prior year, while revenue excluding divestitures and the unfavorable impact of FX in our industrial solutions segment increased by 9% year over year. The biggest driver of the decline in healthcare solutions was a sharp reduction in spending by certain key dental customers in the market for elective orthodontic procedures. High inflation, reduced consumer confidence, and geopolitical factors are negatively impacting patient demand for such elective procedures, resulting in lower caseloads.
At this time, we cannot say with confidence how long the weaker dental demand environment will last, given that it is so heavily dependent on how macroeconomic and other factors evolve over the coming quarters. But starting last quarter, we have incorporated this revised view into our 2022 revenue guidance. And at this point, we do not foresee a material improvement for the rest of 2022. Outside of dental, we saw a healthy growth in some of the other major business lines within our healthcare solutions segment, including strong sales to customers at 3D print various types of medical devices, such as orthopedic implants and surgical guides.
Additionally, our sales of virtual surgical planning and point-of-care solutions, the doctors, surgeons, and hospitals grew very nicely in the third quarter. These business lines tend to serve patients needing surgical procedures that are less elective in nature. Therefore, demand in this area has held up very well despite macroeconomic uncertainty. As Jeff noted, 3D Systems is recognized as a leader in the surgical planting field with the ability to combine 3D printing services, software, and materials to create an integrated end-to-end surgical package in a way that our competitors cannot.
Turning now to our industrial solutions segment. Industrial revenue growth was driven by continued strength in precision microcasting applications and for production machines in energy and commercial space applications. Offsetting this were lower sales and automotive applications, largely because of a tough year-over-year comparison provided by some large deals in the third quarter of last year that did not repeat in the current year. As Jeff noted, we're starting to see good sales tractions with our Titan family of printers, which we acquired in 2021.
Overall, both of our polymer and metal printers continue to sell well across our industrial solutions segment. Moving on to gross profit on Slide 14. Our gross profit margin was 39.8% compared to 41.2% in the prior year. The decrease in margins is due to multiple factors, including 2021 divestitures of noncore assets, inflationary impacts on input cost and freight, and product mix changes, mostly related to selling more printers and less materials than in the prior year.
I'd also like to note that while margins are down on a year-over-year basis, we have seen some sequential improvement with 190-basis-point increase from Q2, driven by the full run rate impact of price increases announced earlier in the year, as well as the early benefit of bringing some of our outsourced printer production back in-house during the quarter. Turning now to operating expenses on Slide 15. GAAP operating expenses increased 6% or $4.9 million to $86.4 million in the third quarter of 2022 compared to the same period a year ago. This includes a $9 million increase in legal and other settlement costs, partially offset by decreases in expenditures due to divestitures.
On a non-GAAP basis, which excludes nonrecurring charges and divestitures, operating expenses were $58.3 million as compared to $49.3 million from the same period a year ago. The higher non-GAAP operating expenses reflect spending in targeted areas to support future growth, including expenses from acquired businesses, research and development, and investments in corporate infrastructure. We did, however, see some sequential improvement in operating expenses as compared to the second quarter of 2022, which reflects our efforts to tighten cost controls in response to the volatile demand conditions that we've experienced this year. Moving now to Slide 16.
Adjusted EBITDA, which is defined as non-GAAP operating profit plus depreciation, was negative $0.3 million for the third quarter of 2022 compared to $11.6 million for the third quarter of 2021. The year-over-year decline in adjusted EBITDA reflects all the factors that we've previously discussed. One callout I would like to mention here is regarding SG&A and R&D expenses from businesses that we have acquired over the last year and a half. These acquisitions represent important investments by 3D Systems, and we expect to contribute significantly to our revenue growth over the coming years.
However, for the time being, these acquired businesses in aggregate have yet to generate meaningful revenue for us. As a result, you should expect our adjusted EBITDA to run below our natural potential for a period of time due to the near-term expense impact of recent acquisitions. And for EPS in the third quarter, we had a fully diluted loss per share of $0.30 compared to income per share of $2.34 in the third quarter of 2021. Excluding charges for stock-based compensation expense and other nonrecurring items, as detailed in the appendix of the earnings release that we posted last night, our non-GAAP loss per share in the third quarter was $0.05 compared to non-GAAP earnings per share of $0.05 in the third quarter of the prior year.
The year-over-year decline again reflects all the factors that we've previously discussed. Now turning to Slide 17 for balance sheet highlights. We ended the quarter with $609 million of cash and short-term investments on hand. Our cash and short-term investments declined approximately $180 million since the end of 2021, driven primarily by $85 million paid for acquisitions and equity investments, cash used in operations of $52 million, capital expenditures of $17 million, and other cash used in financing activities of approximately $13 million.
We continue to have a strong balance sheet with sufficient cash to support organic growth. As previously stated, we regard 2022 as an investment year, during which we will make additional targeted investments at high potential growth areas of our business and in our corporate infrastructure. This is part of our overall strategy to profitably grow revenue in both the industrial and healthcare segments, as well as to enter new businesses such as regenerative medicine. While we are always willing to consider M&A opportunities as they arise, we are currently focused on integrating and growing the businesses that we have acquired over the last year and a half.
And finally, I'll conclude my remarks on Slide 18 with an update on our full year guidance for 2022. As a reminder, we announced a reduction in our 2022 full year guidance during our second quarterearnings call We took this step because we expect that the challenging macroeconomic and geopolitical environment to put pressure on international industrial solutions sales and because we believe that softer demand for elective procedures would negatively impact our healthcare solutions segment, particularly in the dental market. Our third quarter results were in line with these revised expectations.
And at this point in the year, we now have improved visibility into our likely revenue and operating expenses during the fourth quarter. This improved visibility incorporates the impact of certain cost control measures that we have taken to better align our cost with the current revenue environment. Based on these factors, we are updating our full year guidance to significantly tighten our expected revenue range while improving our outlook for non-GAAP operating expenses. Our full year gross profit margin guidance remains unchanged.
Pulling it all together, our updated guidance for 2022 is as follows: We expect revenue to be within a range of $535 million to $545 million, we expect non-GAAP gross profit margins to remain unchanged and in the range of 39% to 41%, and we expect non-GAAP operating expenses to be in the range of $240 million to $245 million. This full year 2022 guidance assumes no significant additional changes in the macroeconomic environment that can negatively impact business demand or disrupt our supply chain, such as COVID-19, geopolitical events, or continued foreign exchange volatility. That concludes my prepared remarks. Operator, we are now ready to open up the line for questions.
Questions & Answers:
Operator
Thank you. We'll now be conducting a question-and-answer session. [Operator instructions] One moment, please, while we poll for questions. Our first question today is coming from Troy Jensen from Lake Street.
Your line is now live.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Hey, gentlemen, thanks for taking my question here. Michael, I'm going to start with you. Just you talked about opex between $240 million to $245 million for the year. On a sequential basis, that implies about a $5 million to $10 million sequential increase in opex.
So, I'm just kind of curious, is that like one-time in nature? Is that for next? And how do you think about opex turning out -- explain the sequential increase, and then how do think of opex growing or declining quarterly on an absolute basis beyond that.
Michael Turner -- Executive Vice President and Chief Financial Officer
Yeah. Great question, Troy. So, one driver going from Q3 to Q4 is dp polar, which we closed on in October, as Jeff mentioned. So, we will get the full run rate of their expenses going forward.
We'll also have slightly higher commission. Sales commissions in Q4 is related to higher sales demand. And I mean, I think you should think about our kind of run rate opex being the Q4 exit rate for now. We'll give you further guidance in 2023 as we get to that point.
Troy Jensen -- Lake Street Capital Markets -- Analyst
All right. Perfect. Very helpful. And Jeff, also for you, with Systemic, why carve out just that business segment within your regenerative businesses? I mean, what was so attractive on that, that it required kind of its own stand-alone business versus everything else you're doing in regenerative?
Jeff Graves -- Chief Executive Officer
Yeah. Thanks, Troy. It's a good question. There's a couple of reasons.
From a -- there's two kind of cultural reasons, if you will. Number one, we wanted to drive a real start-up mentality in that business. Because it is a new business, new technology going to market, it is a different customer base than we've historically had. The customer base there are the pharmaceutical companies largely and the companies that are testing new drugs for the pharma companies.
So, the sales model is different. Also, Troy, as I mentioned in passing, that business model for the business is different than the rest of the company. We're selling -- in that case, we're setting ourselves up to sell these h-VIOS chips, the chips that come off the printer, not the printers themselves. Fundamentally, the printing technology is just too valuable to be selling printers.
We want to really jealously guard that IP and know-how to do that and sell the product that comes off it. We think the product will be very valuable. We think it will drive exciting not only revenue growth, but gross margin performance. We want real clarity on that that business model works and that the technology is proven.
So, the best way to do that in my mind was carve it out separately and look at it. In fairness to our shareholders, investors, we wanted to say how much we were going to spend on it. So, we put that flag out there to say we're going to invest $15 million in this business to get it to a material revenue contribution and profitability. And we think we will hit those objectives.
Clearly, we want to be able to measure that and report out on it. And beyond that, this gives us optionality to continue to invest ourselves or if we want to bring in outside parties to invest with us in that business, if the capital requirements exceed what we can comfortably do, we want to allow it to grow in its own right as fast as it can logically grow. And the base plan is we'll put that capital in ourselves based on the return we would estimate for it at the time. If that business really requires -- because it is a revolutionary technology, if it requires additional capital we may, at some point, entertain outside investment in it as well.
So, for all those reasons, we wanted to set it up as a stand-alone business. It is a wholly owned business, and our default assumption is it will be part of the 3D Systems' portfolio forever, but it gives us optionality on how that goes in the future. Does that make sense?
Troy Jensen -- Lake Street Capital Markets -- Analyst
Makes perfect sense. And if I could ask just one last follow-up. I'm assuming that the weakness in kind of product sales is more on the systems side, but could you just delineate maybe material demand in the quarter or existing machines being used to the full extent? Or just some color on material demand would be great.
Jeff Graves -- Chief Executive Officer
Yeah, Troy, as you might guess, with everybody being concerned about where the economy is going, capital spending is certainly, I think, being viewed by our customers are being more conservative in it, which translates to fewer printer sales broadly. We see some sales pushed off. We see some just hesitation on customers. They want to make sure the demand is going to be there.
And on the flip side, they're using their assets more heavily. They're bringing 3D printing in and actually using it more heavily in production. So, in that scenario, you see materials going up, new printer sales -- the growth rate in it declining. So that's a quarter-to-quarter variation, and it very much depends on how customers are viewing the future and how much they need their cash.
Fortunately, the people we sell to are -- have really good balance sheets. So, it's not that they don't have the money to invest. It's -- they're just mainly being prudent about how they spend their money given all the macro stuff going on, and it has a direct impact on us each quarter. Hard to predict where that goes, but that's the current trend.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Perfect, guys. Thanks, and good luck going forward here.
Jeff Graves -- Chief Executive Officer
Thanks, Troy. Thanks so much.
Michael Turner -- Executive Vice President and Chief Financial Officer
Thank you.
Operator
Thank you. Next question today is coming from Paul Chung from J.P. Morgan. Your line is now live.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Hi. Thanks for taking my question. So just a follow-up on opex. I think I heard you say the exit rate of maybe $66 million or so on a quarterly run rate business or basis kind of moving forward, is that kind of the pace of opex implied around high single digits for '23? Is that the right way to think about it?
Michael Turner -- Executive Vice President and Chief Financial Officer
Well, so thanks for the question, Paul. We're not prepared to comment yet on 2023. We'll give you that guidance as we get closer maybe on our next call or definitely on our next call. But I think you're directionally thinking about Q4 correctly.
We hope to beat that number slightly, what you mentioned, but we'll be in and around that ballpark.
Jeff Graves -- Chief Executive Officer
And Paul, from a longer --
Paul Chung -- JPMorgan Chase and Company -- Analyst
OK.
Jeff Graves -- Chief Executive Officer
From a longer-term perspective, Paul, there were investments we needed to make this year to make sure that basically our back-office infrastructure could support our future growth and do so efficiently. We would expect in future years to start gaining efficiencies in our G&A, if you will, our back-office infrastructure. So, the idea was, that's why we view this as an investment year, not only in R&D, but in G&A, if you will, to make those critical investments to gain efficiency in the future years, OK? You hit our scale, and you just need to do that.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Great. And then on gross margins, you're seeing some sequential improvement here after a trough in 2Q. How do we think about margin expansion in '23 as some -- the supply chain costs come down, you get some pricing benefits. And then what is the benefit from in-sourcing, I guess, on the margin line and also impact on opex from in-sourcing?
Jeff Graves -- Chief Executive Officer
So, we'll give you much better clarity on 2023 as much as any company can when the year finishes out, Paul. But I would tell you, all the trends you just mentioned are correct, that as we implement price increases, it takes a little bit to take route and flow through. Some of them are tied to the introduction of new technology, new platforms that bring more value to customers. So, that all -- there's a lag between your cost going up in COGS and your recovery in pricing.
So, we saw some pricing improvement in the quarter flow through. We expect more of that to come as we go into '23. We've been very careful about not getting out over our skews in advertising manufacturing cost reductions, which again shows up on the COGS line, but they're real. And we saw the initial benefit, as Michael mentioned, in Q3, and we had only done it.
We had only in-sourced it in about the mid-quarter point, and we already saw benefits from that. So, we expect our gross margins to be consistently improving. Hopefully, Q2 was the low point. We expect it to be consistently improving, but we can't give you specifically a guidance until we get into '23.
We'll have to see what the macroeconomic outlook is.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Gotcha. And then last one on free cash. How do we think about it to end the year? It's been -- you've seen a usage here for the last four quarters, mostly on lower earnings, but can we start to see some kind of rebound here in free cash flow as we exit the year and look forward to '23? Maybe some moves to in-sourcing helps. I'm not sure.
Just your general outlook there.
Jeff Graves -- Chief Executive Officer
Yeah, Paul, when people look at the details, you know it's a big tick-up in inventory levels and working capital. That was because of the in-sourcing of manufacturing. We had to pick up a lot of existing inventory from that supplier. It's good inventory.
We'll burn it down over time, and that will be a cash source for us. And we would expect operational improvements to continue to drive better operating cash flow as well. So, in terms of free cash flow, we're really not a very capital-intensive business. So, cash from operations, we get a nice flow-through into free cash flow because we don't spend a lot of capital inherently on organic growth.
Where we would spend it on a kind of bolt-on acquisitions or other infrastructure changes, but a lot of the infrastructure changes we've already made. And we don't -- we wouldn't expect that to be a big cash usage going forward. So, as Michael mentioned, we exited the quarter with over $600 million in cash. We did close out the dp polar acquisition after the quarter closed.
But other than that, we've got a strong balance sheet, and we own the assets we really need to own for the future. We just need to execute now and grow them time.
Michael Turner -- Executive Vice President and Chief Financial Officer
Yeah. And I'd just add, right, if you kind of look at Q3, we had roughly kind of in the range of $15 million to $20 million of outflows and cash related to the in-sourcing and manufacturing. So, you strip that out and kind of strip out all the acquisition activity that we've done, and you can see it on the face of our cash flow statement, I think you'll be kind of in the ballpark for what to expect cash flow was.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Great. Thank you so much.
Jeff Graves -- Chief Executive Officer
Thank you.
Michael Turner -- Executive Vice President and Chief Financial Officer
Thank you.
Operator
Thank you. Next question is coming from Tyler Hunt from William Blair. Your line is now live.
Unknown speaker
Good morning. Thanks for taking my questions.
Jeff Graves -- Chief Executive Officer
Sure, Tyler.
Unknown speaker
I just want to start off just with dental and healthcare. I know you said that, obviously, growth was down. I was wondering if you could quantify kind of any year-to-date numbers on how much dental is down year over year.
Jeff Graves -- Chief Executive Officer
We didn't break out that number.
Michael Turner -- Executive Vice President and Chief Financial Officer
No.
Jeff Graves -- Chief Executive Officer
We didn't break out that number, but it was meaningful. I mean when you look at the orthodontic business for us, if you will, have been growing strong double digits coming into this inflationary environment. And clearly, if you follow that segment of the market, what manufacturers of those products have said is growth rates have declined from strong double-digit performance to more single digits to more flattish performance, all in a very rapid period of time. And what they've attributed it to, which I fully understand, is that consumers are having to decide between mill kegs and gas and straightening their teeth.
And in that case, crooked teeth are tolerable for a while. So that's -- I fully expect that market will rebound, and it's -- we've got great technology, great channels to market there. But for right now, it's in the doldrums and has really declined rapidly during the year.
Unknown speaker
Right. Thanks for the additional color on that. And then I guess my follow-up would just be on the pricing, you said there's kind of a lag in pricing. When should we kind of see that effect take part? And kind of just like a long term, not really '23 guidance, but just getting back to your long-term goal to gross margin of 50%, kind of where do you see that trajectory now?
Michael Turner -- Executive Vice President and Chief Financial Officer
So I'll start with your question on pricing. I mean, I think that we've seen the full run rate of the price increase in Q3, the price increases announced earlier in the year. So, you can kind of expect that not change materially going forward into Q4. And in 2023, I mean, we're not going to -- like I said, we're not going to comment on specifically, but I'll just say that we'll continue to monitor input costs and make price adjustments where we can.
But for now, I think the run rate that you're seeing in Q3 is indicative of where we are for the near term.
Jeff Graves -- Chief Executive Officer
If you look at what we've said from the past and now is the pricing opportunity on existing products is always a bit tricky to drive that because it is usually a capital item for our customers, at least on the printer side. Materials is a little more opex for customers. So, an opportune time to look at pricing strategy is really when you introduce new products. And we set out at the beginning of '22 to refresh our entire product line over the next two years.
So '22 and '23, most of that will happen in '23. And those are always the opportunity to set new pricing points with new products hitting the market.
Unknown speaker
OK. Thank you for the color on that. That's it for me. All right.
Thank you.
Jeff Graves -- Chief Executive Officer
Thanks, Tyler.
Operator
Thank you. Your next question is coming from Wamsi Mohan from Bank of America. Your line is now live.
Wamsi Mohan -- Bank of America Merrill Lynch -- Analyst
Yes. Thank you. Good morning. I was wondering if you could help characterize perhaps how 3D Systems is positioned going into a potential downturn here.
In terms of maybe revenue margin levers and cash flow, maybe if we take a hypothetical case, we've seen revenue compression 10%, not unreasonable in a decelerating environment. Could you -- I'm not saying that's what's going to happen, but if it were to happen, how should investors think about what would be the flow-through of that? What sort of levers you have to pull? I know it's a little bit of a tough question given that's not maybe how things will play out. But at the same time, investors want to get some sense of comfort around where the trough and potentially margins and cash flows are. So, anything you can do to help us there would be great.
Jeff Graves -- Chief Executive Officer
Sure. Yes, as a backdrop to that answer, Wamsi, I would tell you, it's a marvelous time to have a strong balance sheet. And we had -- because of our divestitures and our other actions in the capital markets in '21, we came into '22 with an excellent cash position, and we've maintained that cash position largely in the year. We feel really good about our base foundation.
In terms of flexibility going forward, yeah, you never know where the economy is going and what's going to happen on the top line and also with all the currency fluctuations. Hopefully, the dollar recently kind of plateauing will be stable now for a while and that won't be an additional headwind. The economy is anybody's guess. A lot of our business is not discretionary business.
So, you would expect outside of dental and maybe a few procedures that are medically oriented, unless the economy gets really bad, those procedures don't get pushed out. So, in terms of revenue impact, it's anybody's guess, but certainly, there is some downside if the economy gets worse, but probably a little bit more modest than many other industries. On the cost side, we've got all the normal levers. And we've got labor costs.
I am pleased the supply chains are starting to at least stabilize and now hopefully improve. Wamsi, you follow many industries. You know the -- like computer chips were a real issue early in the year. Those have really moderated quite a lot.
So, components are easier to buy. We're even starting to be able to negotiate some pricing on componentry. So, that's all a good thing. And then, of course, we have labor costs if volumes drop off.
So, we have all the normal levers to pull, and we will do that. We've tried to maintain our initiatives in 2022 really hard. So, you can view that as, yeah, we've spent a lot of money on in '22, but that's then all available to us if we need to cut back in '23. Those are all things that can, in the future, be done.
So, Michael, I don't know if you have any other --
Michael Turner -- Executive Vice President and Chief Financial Officer
Yeah. No, you hit all the right comments, I would just say. Just kind of double back on the strength of our balance sheet and capital structure, I mean, we do have enough liquidity to weather, I think certainly any near-term storm. And when combined with other levers that Jeff mentioned, I think we're very well-positioned.
Jeff Graves -- Chief Executive Officer
And Wamsi, it's interesting, too. I don't know if this was included in your question, but from a labor standpoint, we're -- given that the company is healthy and we have a strong balance sheet, we've been able to attract really nice talent to the business. So, availability of talent is not an issue, how much labor you have is dependent on how much business that you have to do. But in terms of attracting good labor, it's been a really good situation for us.
The issue that every company faces is labor costs have gone up a lot because of inflation. And you have to be sensitive to employees' needs on that front. So, we've tried to make adjustments in our pay scales, if you will, to address that. Very hard to keep up on that.
So those are -- that's kind of the challenge part of it. But we've got all the normal levers to pull if times get harder, and we will pull them. I'll end by saying we are heavily focused on execution. We own the assets we need to own.
We now need to execute with those assets, and we're focused on profitability and cash performance. That is our priority, OK? The top-line growth, we hope will be there in these markets rebound. But our priority now is executing on what we've invested in and drive profitability and cash performance.
Wamsi Mohan -- Bank of America Merrill Lynch -- Analyst
OK. Very clear. Thank you so much.
Jeff Graves -- Chief Executive Officer
Thank you.
Operator
Thank you. [Operator instructions] Our next question is coming from Shannon Cross from Credit Suisse. Your line is now live.
Shannon Cross -- Credit Suisse -- Analyst
Thank you very much. I just had a question with regards to the comments you made about maybe losing some sales due to U.S. dollar strength, which I think, to some extent, plays in the pricing, obviously, given how the currency impacts some of the purchasing decisions overseas. So, I'm wondering what led you to say that.
And how you're thinking about pricing from the standpoint of international? Do you think you need to take it down to sort of offset currency pressure or where you price in U.S. dollars? Or just in general, what you're thinking about in terms of elasticity of demand there.
Michael Turner -- Executive Vice President and Chief Financial Officer
Yeah. I mean I think I would just say a couple of general comments, Shannon. So, number one, we're always evaluating perfect ways to the price and assessing risk with regards to international sales. Maybe we overstated it a little bit, but I would just say that in general, we have some FX headwinds, right? And those FX headwinds can come in the form of -- in two forms, right? It's just the foreign-denominated sales that you do make.
It's translated to lower U.S. dollars, and the stuff that you're traditionally pricing in U.S. dollars overseas generates a little more headwinds and may affect your pricing or it may impacted you losing sales, but it's going to have the same kind of net overall impact to us as a business.
Shannon Cross -- Credit Suisse -- Analyst
OK. And then --
Jeff Graves -- Chief Executive Officer
No, [Inaudible] but, yeah, it's OK. I think we probably commented enough. Go ahead with your next question.
Shannon Cross -- Credit Suisse -- Analyst
OK. No, I was just wondering, can you talk a bit more about Systemic -- or Bio Systemic? Because what I'm thinking is that those on the call, including myself, are not biotech analysts. So, I'm just wondering, as we look forward, what sort of both qualitative and quantitative milestones should we watch for to show that everything is trending in the right direction?
Jeff Graves -- Chief Executive Officer
Yeah. So, I would say it's probably a little bit qualitative, but we will be as quantitative as we can in terms of contracts that we land. So, we're -- we're in discussions with multiple pharmaceutical companies now about demonstrating the model, make sure the models work. This is not a brand-new concept.
What is new is the technology that we can offer with printed vasculature inside the tissue, which allow cells to live. And if cells can live for, say, a month, then you can do an effective drug study on those cells. So, it's really attractive to pharma companies. We have to demonstrate the model works, and then you can do it with good statistics.
Externally, what you should watch for are announcements of contracts. Wherever we can, we're going to announce them. We're going to announce we've landed them. Wherever we can, we're going to put numbers to those.
So over time, you want to see those growing. How much financial transparency, some of it depends on how much work we want to put into the actual margin reporting on the business. So, I would think we can talk about revenue growth, and we'll do as much on margins as we can because we want to be pretty transparent. It's a different type of business.
Biotech is a different business. I don't think anyone in this industry has really moved into it yet. And we want -- for biotech investor, we want to really amortize what that business is doing and what it could be worth to make sure we get value for our shareholders for it. So, we'll be as transparent, Shannon, as we can.
First indicator would be announcement of contracts, and then we'll give you as much financial information about it as we possibly can.
Shannon Cross -- Credit Suisse -- Analyst
And are you -- I'm just curious, in your discussions with some of the pharmaceutical companies, are you looking for any strategic investments from those companies or more just a guaranteed contract that would lock in revenue? I'm just -- from a funding perspective, as this grows, I'm wondering how you're thinking.
Jeff Graves -- Chief Executive Officer
No, we don't need any investments right now. We've committed $15 million to it. That's fine to get us to a material scale where we can show to internally and externally that this business is a good business, and it's going to grow from there. So, we've already had people wanting to come up and invest in it with us, but we don't want to take investment too early because I'm afraid we'll give away future value.
It depends a little bit on how demand grows and what capital requirements there are. If they're really high, we might look at somebody coming in to share the burden with us on the capital investment. If they're low enough, we may do it ourselves. That will just be decided based on the magnitude and the return on investment.
But we've set it up to give ourselves optionality on bringing in outside investment if we want it, and that's the way we'll run the business right now. I'm really excited to see the first contracts come in and this model demonstrated because truly, Shannon, nobody else can do this in the world right now. These models have a chance to accelerate drug development and obviously reduce the amount of animal testing. That's not just an advertisement for cruelty to animals.
it is a statement that animal physiology is not the same as humans. And that's why the failure rate on drug is one reason why the failure rate on drug development is so high, is you test it in mice and sheep and pigs and so forth to work your way up to scale to trust to go into the humans. And those physiologies are just not human physiologies. So, if we can demonstrate this in a lab that it works with human cells, there's a chance to shorten the cycle, increase the hit rate, and reduce animal testing, which is a win for everybody.
So that is the value to shareholders that we talk about creating. I want to see it come through in pharmaceutical contracts that we can talk about and show that the business model works.
Shannon Cross -- Credit Suisse -- Analyst
Great. Thank you very much. You're welcome.
Jeff Graves -- Chief Executive Officer
You're welcome, Shannon.
Operator
Thank you. Next question is coming from Alex Valero from Loop Capital. Your line is now live.
Unknown speaker
Hey, how's it going? How's it going, guys? Actually --
Jeff Graves -- Chief Executive Officer
Alex, good morning.
Unknown speaker
Good morning. My question is, so what's your view on macro's impact on customer behavior, as you mentioned, 2023? And maybe if you guys could provide deeper concept on how you believe customers are doing their actions and the patient has actions as macro increasing manifest?
Jeff Graves -- Chief Executive Officer
Well, I'm not sure I picked up all that question. So, run it by me again and go a little slower. You run it by me again.
Unknown speaker
You got it. I'm so sorry. So, I said, what's your view on macro's impact on customer behavior as we enter 2023? And then the second part of the question was maybe if you could provide a deeper context on how you believe customers are viewing their actions and the patient directions as macro increase in the manifest?
Jeff Graves -- Chief Executive Officer
Yeah. Do you want to start off on that?
Michael Turner -- Executive Vice President and Chief Financial Officer
Yeah. So, I think your question is really how customers are reacting to macroeconomic uncertainty. And I mean I'm not -- first of all, nobody fully knows what's going to happen in 2023. I mean we're continuing to experience a choppy supply chain environment, and consumer spending is moving in different directions.
And people are kind of batting down the hatches. But we're addressing that as best as we can. And I think as you saw in our prepared remarks, right, as it impacts 3D Systems, the primary impact is in the procedures that are more elective in our healthcare segments within the orthodontic market. But we do have some kind of recession-proof or recession-resistant areas of the business that are continuing to perform very strongly outside of the dental markets.
Our healthcare business was up pretty nicely year over year. And in our industrial solutions segment had 9% year-over-year growth. And I think that was like the seventh consecutive quarter of year-over-year growth. But just to lay that backdrop and then let Jeff kind of fill in some of the blanks.
Jeff Graves -- Chief Executive Officer
So everything Michael said is absolutely true. And the reason you can still get growth, and this is an industry broad industry comment, is additive manufacturing allows customers to bring in flexibility in their supply chain. On top of which, they can design more exotic parts for better performance. So, you've got this tailwind, if you will, the headwinds in the economy, clearly.
And for us in the U.S., the strength of the dollar, those are headwinds. But the tailwind we all have in this industry, and I think we're well-positioned to leverage this, is customers have -- all of them were stung by these extended supply chains and virtually every industry stung by these extended supply chains into Asia and Eastern Europe and things where we've had pandemics, we've had wars. We've had all of this uncertainty. So, most of our customers are saying, "Well, if I should look at additive in my factory, because I can bring it closer to home, I can have flexibility.
So that if I need to make multiple types of parts, I can do it on a fly. I can do that, and I can make parts that perform better in my product." So as an industry, and I think we've been leaders in this of introducing new materials for manufacturing production, they say, "Well, I can make the parts I really want to make now with additive." And that really helps us a lot in a recessionary environment because everybody remembers the pain of the pandemic, it still exists. And supply chains, with China shutdowns --open a newspaper and you see China is shutting down periodically, still logistical issues getting parts shipped around the world. So yeah, there's a macro headwind from the economy, but there is a tailwind unique to our industry of people adopting additive and production.
And that's -- I believe that's going to continue and accelerate, particularly as the economy rebounds and capital spending get loosens up more. So, it's a trade-off. Which of those wins, I have no idea in the short term, one month, two months, who knows? But in the longer term, these supply chain issues have opened a real opportunity for this industry that I believe is going to make it a permanent part of the production supply chain in most companies, both industrial and healthcare around the world.
Unknown speaker
That's really helpful. Thank you very much.
Jeff Graves -- Chief Executive Officer
Sure. Thank you.
Michael Turner -- Executive Vice President and Chief Financial Officer
Thank you.
Operator
Thank you. Next question is coming from Greg Palm from Craig-Hallum Capital Group. Your line is now live.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Yeah. Hey, this is Danny Eggerichs on for Greg today. I'll try to keep it short. I guess just on the revenue guide implies Q4 more or less in line with Q3.
Obviously, dental sounds like remains pretty challenged. But I guess more broadly across other end markets, what are you seeing through October and November here? And maybe how you're expecting that project into the next few months?
Jeff Graves -- Chief Executive Officer
It's kind of steady as you go. We don't expect -- and honestly, as we sit here today, and it could always happen, we don't expect -- and unless I can throw out the 15 caveats, unless there's a bigger war, unless there's a new outbreak or pandemic, we don't expect any major changes between now and the end of the year. That's why we could tighten our revenue range down. We think that revenue range fully reflects the risk that we have today as we sit here, and we're in mid-November.
So, between now and the end of the year, unless some catastrophe happens in the world, we don't expect any significant changes. I think everybody -- even on a personal level, people are more cautious, and that will continue. There's also interest in 2023 from our customers in enhancing the -- or reducing the risk of their supply chain. So, as we end the year and go into next year, unless there's a major disruption, I think it's kind of steady as you go right now.
And that may not be the most exciting environment, but that's what we see right now as we sit here.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
Got it. And then I guess, just in light of that weaker demand environment, slower growth, just how you're thinking about managing and balancing investments.
Jeff Graves -- Chief Executive Officer
Yeah. Well, that's the tricky part of it because we do believe this is an exciting growth industry. And there's a minimum number of seeds you got to be planting and watering in order to fulfill that growth. We want to be very prudent about it.
And that's why I want to be clear. We're focused right now. The good news is we bought the assets or invested in the assets that we really needed to have to live into that growth. There's not a lot of incremental investments we need to be making.
We've got the broadest technology portfolio in the industry today. We need to run it well, do some incremental investing for organic growth and capability. Any external investments we make are purely opportunistic at this point. We don't need to do them.
And on top of it, we've got $600 million in the bank. So, we don't -- we're not in a position where we need to spend that money. We just need to execute on what we own predominantly. We're focused heavily on profitability and cash performance.
In spite of having a strong balance sheet, we're going to do that because we think it's prudent. And at the same time, we want to bring those seeds that we've purchased and brought into the company to full mighty oaks, if you will. That's what we want to see them happen over time. That's why we stuck with our long-term guidance of double-digit growth, then we hung out there being a $1 billion company in five years.
I still think that's very possible. Again, assuming no catastrophes in the world. And if things return to normal and economies over the next year or two, I think there's no reason in the world we can't see that kind of exciting growth ahead.
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
All right. I'll leave it there. Thanks.
Jeff Graves -- Chief Executive Officer
OK. Thanks so much.
Michael Turner -- Executive Vice President and Chief Financial Officer
Thank you.
Jeff Graves -- Chief Executive Officer
And Kevin, with that, I think we'll wrap up the Q&A and close out.
Operator
I'll turn it over to you for any further or closing comments, Doctor.
Jeff Graves -- Chief Executive Officer
Great. Thank you all for joining us today. It's been a pleasure talking to you, and we look forward to updating you with our year-end results on our next call. Thanks, and have a good day.
Bye-bye.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Russell Johnson -- Vice President, Treasurer and Investor Relations
Jeff Graves -- Chief Executive Officer
Michael Turner -- Executive Vice President and Chief Financial Officer
Troy Jensen -- Lake Street Capital Markets -- Analyst
Paul Chung -- JPMorgan Chase and Company -- Analyst
Unknown speaker
Wamsi Mohan -- Bank of America Merrill Lynch -- Analyst
Shannon Cross -- Credit Suisse -- Analyst
Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst
More DDD analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool recommends 3D Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (NYSE: DDD) Q3 2022 Earnings Call Nov 09, 2022, 8:30 a.m. Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasurer and Investor Relations Jeff Graves -- Chief Executive Officer Michael Turner -- Executive Vice President and Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Unknown speaker Wamsi Mohan -- Bank of America Merrill Lynch -- Analyst Shannon Cross -- Credit Suisse -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. The machine's continuously rotating build platform can print jetted polymer parts up to five times faster than today's batch process systems, which represents a quantum leap toward true mass production of custom componentry using additive manufacturing.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasurer and Investor Relations Jeff Graves -- Chief Executive Officer Michael Turner -- Executive Vice President and Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Unknown speaker Wamsi Mohan -- Bank of America Merrill Lynch -- Analyst Shannon Cross -- Credit Suisse -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3D Systems (NYSE: DDD) Q3 2022 Earnings Call Nov 09, 2022, 8:30 a.m. With me on today's call are Dr. Jeffrey Graves, president and chief executive officer; Michael Turner, executive vice president and chief financial officer; and Andrew Johnson, executive vice president and chief legal officer.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasurer and Investor Relations Jeff Graves -- Chief Executive Officer Michael Turner -- Executive Vice President and Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Unknown speaker Wamsi Mohan -- Bank of America Merrill Lynch -- Analyst Shannon Cross -- Credit Suisse -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3D Systems (NYSE: DDD) Q3 2022 Earnings Call Nov 09, 2022, 8:30 a.m. With me on today's call are Dr. Jeffrey Graves, president and chief executive officer; Michael Turner, executive vice president and chief financial officer; and Andrew Johnson, executive vice president and chief legal officer.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasurer and Investor Relations Jeff Graves -- Chief Executive Officer Michael Turner -- Executive Vice President and Chief Financial Officer Troy Jensen -- Lake Street Capital Markets -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Unknown speaker Wamsi Mohan -- Bank of America Merrill Lynch -- Analyst Shannon Cross -- Credit Suisse -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3D Systems (NYSE: DDD) Q3 2022 Earnings Call Nov 09, 2022, 8:30 a.m. Due to the unique value of the printed products themselves and the sensitivity of this novel technology platform, Systemic Bio will not sell printers and materials, rather it will work with customers to develop organ and disease-specific human models for organs on chips, and then we'll market those chips directly to pharmaceutical and biotech companies engaged in drug discovery.
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2022-11-09 00:00:00 UTC
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3D Systems Stock Yawns Following Earnings Beat, Revenue Miss
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https://www.nasdaq.com/articles/3d-systems-stock-yawns-following-earnings-beat-revenue-miss
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Shares of 3D Systems (NYSE: DDD) were down 0.8% in Tuesday's after-hours trading session, following the 3D printing company's release of its third-quarter results.
The quarter's revenue missed the analyst consensus estimate, while adjusted earnings exceeded it. In addition, management tightened its full-year revenue guidance range, which had the effect of lowering the midpoint. It maintained its prior outlook for adjusted gross margin.
The stock's muted reaction in after-hours trading on Tuesday makes sense, given the mixed quarterly report and relatively minor tweaks to 2022 guidance. Its performance on Wednesday will not only be influenced by the earnings report but also by market dynamics and information that management shares on the analystearnings call This call is scheduled for Wednesday at 8:30 a.m. ET.
3D Systems' key metrics
METRIC Q3 2021 Q3 2022 CHANGE YOY
Revenue $156.1 million $132.3 million (15%)
GAAP operating income ($17.2 million) ($33.7 million) Loss widened 96%
GAAP net income $292.7 million ($37.4 million)
Flipped to negative from positive
Adjusted net income $6.5 million ($6.3 million) Flipped to negative from positive
GAAP earnings per share (EPS) $2.34 ($0.30) Flipped to negative from positive
Adjusted EPS $0.05 ($0.05) Flipped to negative from positive
Data source: 3D Systems. GAAP = generally accepted accounting principles. YOY = year over year.
Investors should focus on the adjusted metrics, as they enable apples-to-apples comparisons. In the year-ago period, the company's GAAP net income and EPS were positive only because it had a big gain from the sale of noncore assets.
Revenue grew 2.7% year over year, excluding the impacts of divestitures of noncore assets made over the last year and foreign exchanges. In the second quarter, this metric was 7.8%, so it declined sequentially.
Wall Street was looking for revenue of $136.1 million and adjusted loss per share of $0.07. So the company fell short of expectations on the top line but beat them on the bottom line.
The quarter's gross margin was 39.8%, down from 41.2% in the year-ago period. The decline was primarily due to input cost inflation, divestitures, and product mix. Given how much inflation has surged over the last year, gross margin held up fairly well.
In the first nine months of the year, 3D Systems used cash of $52.4 million running its operations. It ended the period with cash and short-term investments of $609.4 million and long-term debt of $448.9 million.
Segment results
SEGMENT Q3 2022 REVENUE CHANGE, YOY CHANGE, EXCLUDING DIVESTITURES AND CURRENCY IMPACTS YOY
Industrial $68.1 million (15%) 9%
Healthcare $64.2 million (16%) (3.5%)
Total $132.3 million (15%) 2.7%
Data source: 3D Systems. YOY = year over year.
The company experienced what it termed "solid" overall demand in both its industrial and healthcare segments. However, revenue growth was hurt by continued supply chain issues and weakness in the dental portion of its healthcare segment. The challenging macroeconomic environment has dampened demand for elective dental procedures.
What the CEO had to say
Here's part of CEO Jeffrey Graves' (lengthy) statement in the earnings release:
We are seeing steady demand for our industry-leading suite of additive manufacturing solutions in core end markets, such as energy, commercial space, precision micro-castings, and medical devices. However, as we had expected, the difficult global macroeconomic and geopolitical environment has put pressure on consumer discretionary spending, which led to significantly lower sales to key dental market customers during the quarter.
[R]ecent actions we have taken to control operating costs and to streamline our manufacturing and inventory management processes had a positive impact on the company's profitability metrics during the third quarter.
2022 guidance revised
Management tightened the range of its prior 2022 revenue guidance, which resulted in a $10 million reduction at the midpoint. It maintained its prior adjusted gross margin outlook by slightly lowering its planned operating expenses.
METRIC 2021 RESULT PRIOR 2022 GUIDANCE CURRENT 2022 GUIDANCE ANNUAL CHANGE IMPLIED BY CURRENT GUIDANCE*
Revenue $615.6 million $530 million to $570 million ($550 million midpoint) $535 million to $545 million ($540 million midpoint) (13%) to (11%)
Adjusted gross margin 43% 39% to 41% 39% to 41% Decline of 3 percentage points to flat
Adjusted operating expenses $214.7 million $245 million to $250 million $240 million to $245 million
12% to 14% increase in expenses
Data source: 3D Systems. *Calculations by author.
No notable surprises
Certainly, 3D Systems' Q3 report wasn't the kind of quarterly report investors want to see, but it wasn't a bad one in light of the uncertainty and challenges in the macro environment.
The report didn't have any notable surprises. While the quarter's revenue missed Wall Street's estimate and its bottom line surpassed the estimate, neither result was that far off. Moreover, the tweaks to full-year guidance weren't that significant.
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Beth McKenna has no position in any of the stocks mentioned. The Motley Fool recommends 3D Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of 3D Systems (NYSE: DDD) were down 0.8% in Tuesday's after-hours trading session, following the 3D printing company's release of its third-quarter results. The stock's muted reaction in after-hours trading on Tuesday makes sense, given the mixed quarterly report and relatively minor tweaks to 2022 guidance. However, as we had expected, the difficult global macroeconomic and geopolitical environment has put pressure on consumer discretionary spending, which led to significantly lower sales to key dental market customers during the quarter.
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Shares of 3D Systems (NYSE: DDD) were down 0.8% in Tuesday's after-hours trading session, following the 3D printing company's release of its third-quarter results. Revenue $156.1 million $132.3 million (15%) GAAP operating income ($17.2 million) ($33.7 million) Loss widened 96% GAAP net income $292.7 million ($37.4 million) Flipped to negative from positive Adjusted net income $6.5 million ($6.3 million) Flipped to negative from positive GAAP earnings per share (EPS) $2.34 ($0.30) Flipped to negative from positive Adjusted EPS $0.05 ($0.05) Flipped to negative from positive Data source: 3D Systems. Industrial $68.1 million (15%) 9% Healthcare $64.2 million (16%) (3.5%) Total $132.3 million (15%) 2.7% Data source: 3D Systems.
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Shares of 3D Systems (NYSE: DDD) were down 0.8% in Tuesday's after-hours trading session, following the 3D printing company's release of its third-quarter results. Revenue $156.1 million $132.3 million (15%) GAAP operating income ($17.2 million) ($33.7 million) Loss widened 96% GAAP net income $292.7 million ($37.4 million) Flipped to negative from positive Adjusted net income $6.5 million ($6.3 million) Flipped to negative from positive GAAP earnings per share (EPS) $2.34 ($0.30) Flipped to negative from positive Adjusted EPS $0.05 ($0.05) Flipped to negative from positive Data source: 3D Systems. Industrial $68.1 million (15%) 9% Healthcare $64.2 million (16%) (3.5%) Total $132.3 million (15%) 2.7% Data source: 3D Systems.
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Shares of 3D Systems (NYSE: DDD) were down 0.8% in Tuesday's after-hours trading session, following the 3D printing company's release of its third-quarter results. Given how much inflation has surged over the last year, gross margin held up fairly well. 2022 guidance revised Management tightened the range of its prior 2022 revenue guidance, which resulted in a $10 million reduction at the midpoint.
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716471.0
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2022-10-19 00:00:00 UTC
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Zacks Industry Outlook Highlights Apple and 3D Systems
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DDD
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https://www.nasdaq.com/articles/zacks-industry-outlook-highlights-apple-and-3d-systems
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nan
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nan
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For Immediate Release
Chicago, IL – October 19, 2022 – Today, Zacks Equity Research discusses Apple AAPL and 3D Systems DDD.
Industry: Computer & Mini-Computer
Link: https://www.zacks.com/commentary/1992661/2-stocks-to-watch-from-the-challenging-computer-industry
The Zacks Computer – Mini Computers industry is suffering from massive supply-chain and logistical issues, along with several pandemic-related and geopolitical challenges, including the ongoing Russia-Ukraine war. The declining demand for PCs has become another concern for industry participants.
Nevertheless, strong demand for high-end laptops and smartphones, particularly the availability of 5G-supported iPhones, has been a key catalyst. The growing adoption of tablets like the iPad among enterprises bodes well for Apple. The launch of foldable, and AI and ML-infused smartphones, tablets, wearables and hearables is another major growth driver for the industry participants. Robust demand for production printers, materials and software bodes well for 3-D printing solutions provider 3D Systems.
Industry Description
The Zacks Computer – Mini Computers industry comprises companies that offer smartphones, desktops, laptops, printers, wearables and 3-D printers. Such devices are based either on iOS, MacOS, iPadOS, WatchOS, Microsoft Windows, or Google Chrome and Android operating systems. They predominantly use processors from Apple, Intel, AMD, Qualcomm, NVIDIA and Samsung.
Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones. This has been well-supported by faster mobile processors. Laptops, both consumer and commercial, benefit from faster processors, sleek designs and expanded storage facilities. The addition of healthcare features has been driving the demand for wearables.
3 Mini Computer Industry Trends to Watch
Bring Your Own Device (BYOD) Aids Momentum: The industry is benefiting from the rapid adoption of BYOD in workplaces. Enterprises practicing BYOD allow employees to use their personal devices, including mobiles, laptops and tablets, for work purposes. BYOD helps connect remote workers and desk-bound employees, thereby improving process management and workflow. BYOD has proved more productive as it lowers training time. Moreover, the coronavirus-induced remote working and online learning models bode well for industry participants as demand is expected to increase for desktops and laptops.
Impressive Formfactor Drives Demand: Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones and tablets. This has been well-supported by faster mobile processors from the likes of Qualcomm (Snapdragon-branded), NVIDIA (Tegra X1), Apple (A16 Bionic) and Samsung (Exynos 9609). Improved Internet penetration and speed, along with the evolution of mobile apps, have made smartphones indispensable for consumers. Improved graphics quality is making smartphones suitable for playing games like PUBG and Fortnite. This is expected to boost the demand for high-end smartphones and open up significant opportunities for device makers.
PCs Face Extinction Risk: Personal computers (desktops and laptops), be it Windows or Apple’s MacOS-based, have been facing the risk of extinction due to the rapid proliferation of smartphones and tablets. Stiff competition from smartphones has compelled global PC makers to not only upgrade hardware frequently but also add apps and cloud-based services to attract consumers. Nevertheless, the emergence of 5G, AI, machine learning and foldable computers is likely to be the key catalyst in expanding the total addressable market of PCs.
Zacks Industry Rank Indicates Dim Prospects
The Zacks Computer – Mini Computers industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #240, which places it in the bottom 4% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bearish near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.
The industry’s position in the bottom 50% of the Zacks-ranked industries is a result of a negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are pessimistic about this group’s earnings growth potential. Since Mar 31, 2022, the Zacks Consensus Estimate for this industry’s 2022 earnings has moved down 1.4%.
Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.
Industry Outperforms Sector and S&P 500
The Zacks Computer – Mini Computers industry has outperformed the broader Zacks Computer and Technology sector as well as the S&P 500 index over the past year.
The industry has dropped 5.3% over this period compared with the S&P 500’s decline of 21.3% and the broader sector’s fall of 37.3%.
Industry's Current Valuation
On the basis of forward 12-month P/E, which is a commonly used multiple for valuing computer stocks, we see that the industry is currently trading at 20.7X compared with the S&P 500’s 15.5X and the sector’s 20.14X.
Over the last five years, the industry has traded as high as 32.32X, as low as 11.49X and at the median of 20.77X.
2 Computer Stocks to Watch Right Now
Apple: This Zacks Rank #3 (Hold) company is benefiting from the continued momentum in the Services segment, driven by App Store, Cloud Services, Music, advertising and AppleCare. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple’s near-term prospects are driven by the launch of the latest iPhone models, with iPhone 14 Pro witnessing strong demand. Apple TV+ is gaining recognition due to award-winning shows. This bodes well for the Services segment.
Apple currently has more than 860 million paid subscribers across its Services portfolio. The App Store continues to draw the attention of prominent developers worldwide, helping it offer appealing new apps that drive App Store traffic. A growing number of AI-infused apps will attract more subscribers to the App Store.
The Zacks Consensus Estimate for fiscal 2022 earnings has been unchanged at $6.11 per share over the past 30 days. The stock has lost 22% year to date.
3D Systems: This Zacks Rank #3 company is benefiting from strategic initiatives like the improvement of existing 3D printers, expanding partner base and enhancing productivity to drive growth.
3D Systems has implemented organizational changes to improve execution and increased investments as it shifts to a worldwide go-to-market structure. DDD plans to drive further reductions in the cost of sales from supply-chain betterment initiatives and manufacturing improvements in order to drive margins.
The Zacks Consensus Estimate for fiscal 2022 loss has widened by a penny to 26 cents per share over the past 30 days. Shares of 3D Systems have declined 63.1% year to date.
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Zacks Investment Research
800-767-3771 ext. 9339
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Apple Inc. (AAPL): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For Immediate Release Chicago, IL – October 19, 2022 – Today, Zacks Equity Research discusses Apple AAPL and 3D Systems DDD. DDD plans to drive further reductions in the cost of sales from supply-chain betterment initiatives and manufacturing improvements in order to drive margins. 3D Systems Corporation (DDD): Free Stock Analysis Report
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For Immediate Release Chicago, IL – October 19, 2022 – Today, Zacks Equity Research discusses Apple AAPL and 3D Systems DDD. DDD plans to drive further reductions in the cost of sales from supply-chain betterment initiatives and manufacturing improvements in order to drive margins. 3D Systems Corporation (DDD): Free Stock Analysis Report
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For Immediate Release Chicago, IL – October 19, 2022 – Today, Zacks Equity Research discusses Apple AAPL and 3D Systems DDD. DDD plans to drive further reductions in the cost of sales from supply-chain betterment initiatives and manufacturing improvements in order to drive margins. 3D Systems Corporation (DDD): Free Stock Analysis Report
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For Immediate Release Chicago, IL – October 19, 2022 – Today, Zacks Equity Research discusses Apple AAPL and 3D Systems DDD. DDD plans to drive further reductions in the cost of sales from supply-chain betterment initiatives and manufacturing improvements in order to drive margins. 3D Systems Corporation (DDD): Free Stock Analysis Report
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408dca84-4255-45b1-b127-38b149ab6392
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716472.0
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2022-10-17 00:00:00 UTC
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2 Stocks to Watch From the Challenging Computer Industry
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DDD
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https://www.nasdaq.com/articles/2-stocks-to-watch-from-the-challenging-computer-industry-0
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nan
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nan
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The Zacks Computer – Mini Computers industry is suffering from massive supply-chain and logistical issues, along with several pandemic-related and geopolitical challenges, including the ongoing Russia-Ukraine war. The declining demand for PCs has become another concern for industry participants. Nevertheless, strong demand for high-end laptops and smartphones, particularly the availability of 5G-supported iPhones, has been a key catalyst. The growing adoption of tablets like the iPad among enterprises bodes well for Apple AAPL. The launch of foldable, and AI and ML-infused smartphones, tablets, wearables and hearables is another major growth driver for the industry participants. Robust demand for production printers, materials and software bodes well for 3-D printing solutions provider 3D Systems DDD.
Industry Description
The Zacks Computer – Mini Computers industry comprises companies that offer smartphones, desktops, laptops, printers, wearables and 3-D printers. Such devices are based either on iOS, MacOS, iPadOS, WatchOS, Microsoft Windows, or Google Chrome and Android operating systems. They predominantly use processors from Apple, Intel, AMD, Qualcomm, NVIDIA and Samsung. Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones. This has been well-supported by faster mobile processors. Laptops, both consumer and commercial, benefit from faster processors, sleek designs and expanded storage facilities. The addition of healthcare features has been driving the demand for wearables.
3 Mini Computer Industry Trends to Watch
Bring Your Own Device (BYOD) Aids Momentum: The industry is benefiting from the rapid adoption of BYOD in workplaces. Enterprises practicing BYOD allow employees to use their personal devices, including mobiles, laptops and tablets, for work purposes. BYOD helps connect remote workers and desk-bound employees, thereby improving process management and workflow. BYOD has proved more productive as it lowers training time. Moreover, the coronavirus-induced remote working and online learning models bode well for industry participants as demand is expected to increase for desktops and laptops.
Impressive Formfactor Drives Demand: Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones and tablets. This has been well-supported by faster mobile processors from the likes of Qualcomm (Snapdragon-branded), NVIDIA (Tegra X1), Apple (A16 Bionic) and Samsung (Exynos 9609). Improved Internet penetration and speed, along with the evolution of mobile apps, have made smartphones indispensable for consumers. Improved graphics quality is making smartphones suitable for playing games like PUBG and Fortnite. This is expected to boost the demand for high-end smartphones and open up significant opportunities for device makers.
PCs Face Extinction Risk: Personal computers (desktops and laptops), be it Windows or Apple’s MacOS-based, have been facing the risk of extinction due to the rapid proliferation of smartphones and tablets. Stiff competition from smartphones has compelled global PC makers to not only upgrade hardware frequently but also add apps and cloud-based services to attract consumers. Nevertheless, the emergence of 5G, AI, machine learning and foldable computers is likely to be the key catalyst in expanding the total addressable market of PCs.
Zacks Industry Rank Indicates Dim Prospects
The Zacks Computer – Mini Computers industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #240, which places it in the bottom 4% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bearish near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.
The industry’s position in the bottom 50% of the Zacks-ranked industries is a result of a negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are pessimistic about this group’s earnings growth potential. Since Mar 31, 2022, the Zacks Consensus Estimate for this industry’s 2022 earnings has moved down 1.4%.
Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.
Industry Outperforms Sector and S&P 500
The Zacks Computer – Mini Computers industry has outperformed the broader Zacks Computer and Technology sector as well as the S&P 500 index over the past year.
The industry has dropped 5.3% over this period compared with the S&P 500’s decline of 21.3% and the broader sector’s fall of 37.3%.
One-Year Price Performance
Industry's Current Valuation
On the basis of forward 12-month P/E, which is a commonly used multiple for valuing computer stocks, we see that the industry is currently trading at 20.7X compared with the S&P 500’s 15.5X and the sector’s 20.14X.
Over the last five years, the industry has traded as high as 32.32X, as low as 11.49X and at the median of 20.77X, as the chart below shows.
Forward 12-Month Price-to-Earnings (P/E) Ratio
2 Computer Stocks to Watch Right Now
Apple: This Zacks Rank #3 (Hold) company is benefiting from the continued momentum in the Services segment, driven by App Store, Cloud Services, Music, advertising and AppleCare. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple’s near-term prospects are driven by the launch of the latest iPhone models, with iPhone 14 Pro witnessing strong demand. Apple TV+ is gaining recognition due to award-winning shows. This bodes well for the Services segment.
Apple currently has more than 860 million paid subscribers across its Services portfolio. The App Store continues to draw the attention of prominent developers worldwide, helping it offer appealing new apps that drive App Store traffic. A growing number of AI-infused apps will attract more subscribers to the App Store.
The Zacks Consensus Estimate for fiscal 2022 earnings has been unchanged at $6.11 per share over the past 30 days. The stock has lost 22% year to date.
Price and Consensus: AAPL
3D Systems: This Zacks Rank #3 company is benefiting from strategic initiatives like the improvement of existing 3D printers, expanding partner base and enhancing productivity to drive growth.
3D Systems has implemented organizational changes to improve execution and increased investments as it shifts to a worldwide go-to-market structure. DDD plans to drive further reductions in the cost of sales from supply-chain betterment initiatives and manufacturing improvements in order to drive margins.
The Zacks Consensus Estimate for fiscal 2022 loss has widened by a penny to 26 cents per share over the past 30 days. Shares of 3D Systems have declined 63.1% year to date.
Price and Consensus: DDD
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Apple Inc. (AAPL): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Robust demand for production printers, materials and software bodes well for 3-D printing solutions provider 3D Systems DDD. DDD plans to drive further reductions in the cost of sales from supply-chain betterment initiatives and manufacturing improvements in order to drive margins. Price and Consensus: DDD
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Robust demand for production printers, materials and software bodes well for 3-D printing solutions provider 3D Systems DDD. DDD plans to drive further reductions in the cost of sales from supply-chain betterment initiatives and manufacturing improvements in order to drive margins. Price and Consensus: DDD
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Robust demand for production printers, materials and software bodes well for 3-D printing solutions provider 3D Systems DDD. DDD plans to drive further reductions in the cost of sales from supply-chain betterment initiatives and manufacturing improvements in order to drive margins. Price and Consensus: DDD
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Robust demand for production printers, materials and software bodes well for 3-D printing solutions provider 3D Systems DDD. DDD plans to drive further reductions in the cost of sales from supply-chain betterment initiatives and manufacturing improvements in order to drive margins. Price and Consensus: DDD
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3e9c18aa-2e08-457b-9e9e-14215354d6ca
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716473.0
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2022-10-06 00:00:00 UTC
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3D Systems' (DDD) DMP Flex 350 Solution Selected by Amnovis
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-dmp-flex-350-solution-selected-by-amnovis
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nan
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nan
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3D Systems DDD recently announced that the Belgium-based additive manufacturing company, Amnovis, has integrated the latest addition to the company’s Direct Metal Printing (DMP) portfolio, DMP Flex 350 Dual, into its contract manufacturing workflow.
3D Systems' DMP Flex 350 solution is designed for flexible application use in research and development projects, application development or serial production. It features quick-swap build modules and fast powder recycling that speeds up production. It has a central server that manages print jobs, materials, settings and maintenance for 24/7 productivity. The DMP solution will ensure improvement in Amnovis’ productivity standard by at least 50% while reducing its costs.
3D Systems’ DMP Flex 350 Dual technology includes two lasers, which will enable Amnovis to produce high-quality, highly reliable end-use Titanium parts for industrial and medical device applications. This will further enable the Belgium-based company to deliver patient-specific medical device solutions, and aerospace or high-tech industry-oriented solutions.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
3D Systems is anticipating material science to be a key driver in the transition to 3D production. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend. Going forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
In September, the additive manufacturer declared the formation of a wholly-owned bioprinting startup, Systemic Bio, to accelerate the development of new drugs that will aid in reducing or eliminating the need for animal testing. This is likely to expand 3D Systems’ growth opportunities in the domain of pharmaceuticals and create a new revenue stream that could reach $100 million annually over the next five years.
Zacks Rank & Stocks to Consider
3D Systems currently carries a Zacks Rank #3 (Hold). Shares of DDD declined 64.5% in the past year.
Some better-ranked stocks from the broader Computer and Technology sector are Keysight Technologies KEYS, Digi International DGII and Baidu BIDU, each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Keysight's fourth-quarter fiscal 2022 earnings has been revised 10 cents north to $1.99 per share over the past 60 days. For fiscal 2022, earnings estimates have moved 30 cents north to $7.47 per share in the past 60 days.
KEYS’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 9.32%. Shares of the company have climbed 4.6% in the past year.
The Zacks Consensus Estimate for Digi’s fourth-quarter fiscal 2022 earnings has increased by 2 cents to 42 cents per share over the past 60 days. For fiscal 2022, earnings estimates have moved 3.2% up to $1.61 per share in the past 30 days.
DGII's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 28.6%. Shares of the company have increased 78% in the past year.
The Zacks Consensus Estimate for Baidu's third-quarter 2022 earnings has been revised 46 cents southward to $2.51 per share over the past 60 days. For 2022, earnings estimates have moved 16.2% north to $9.16 per share in the past 60 days.
Baidu's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 58.1%. Shares of BIDU have slumped 21.2% in the past year.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Baidu, Inc. (BIDU): Free Stock Analysis Report
Digi International Inc. (DGII): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
Keysight Technologies Inc. (KEYS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Going forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings. 3D Systems DDD recently announced that the Belgium-based additive manufacturing company, Amnovis, has integrated the latest addition to the company’s Direct Metal Printing (DMP) portfolio, DMP Flex 350 Dual, into its contract manufacturing workflow. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
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3D Systems DDD recently announced that the Belgium-based additive manufacturing company, Amnovis, has integrated the latest addition to the company’s Direct Metal Printing (DMP) portfolio, DMP Flex 350 Dual, into its contract manufacturing workflow. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend. Going forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
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3D Systems DDD recently announced that the Belgium-based additive manufacturing company, Amnovis, has integrated the latest addition to the company’s Direct Metal Printing (DMP) portfolio, DMP Flex 350 Dual, into its contract manufacturing workflow. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend. Going forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
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3D Systems DDD recently announced that the Belgium-based additive manufacturing company, Amnovis, has integrated the latest addition to the company’s Direct Metal Printing (DMP) portfolio, DMP Flex 350 Dual, into its contract manufacturing workflow. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend. Going forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
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bb836bc0-4772-46a7-86c5-a258d1edf491
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716474.0
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2022-10-05 00:00:00 UTC
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Technology Sector Update for 10/05/2022: DDD,KITT,STM,APPS
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DDD
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https://www.nasdaq.com/articles/technology-sector-update-for-10-05-2022%3A-dddkittstmapps
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nan
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nan
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Technology stocks were solidly on positive ground this afternoon, with the SPDR Technology Select Sector ETF (XLK) rising 0.8% and the Philadelphia Semiconductor Index gaining 1.4% in late trade.
In company news, 3D Systems (DDD) climbed 2.9% after late Tuesday saying Belgium-based additive manufacturer Amnovis was now using its DMP Flex 350 Dual metal 3D printer. The new technology includes two lasers, allowing Amnovis to make titanium parts for medical devices and industrial applications faster and at a lower cost than a single-laser configuration, 3D said.
Nauticus Robotics (KITT) rallied Wednesday, with shares of the autonomous underwater vehicle company rising almost 83% after it announced a new contract from the US Defense Innovation Unit for an amphibious robot using the company's ToolKITT command and control software platform.
STMicroelectronics (STM) added 2.9% after the chipmaker Wednesday disclosed plans to build a silicon carbide substrate manufacturing facility at its property in Catania, Italy. Production is expected to begin next year, the company said.
Digital Turbine (APPS) rose 0.3% after Wednesday announcing a strategic investment in Aptoide, with the online advertising platform company leading a $12 million series-B funding round for the Android app store. The deal also will see the companies using their respective technologies to build distribution products for Digital Turbine clients.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In company news, 3D Systems (DDD) climbed 2.9% after late Tuesday saying Belgium-based additive manufacturer Amnovis was now using its DMP Flex 350 Dual metal 3D printer. The new technology includes two lasers, allowing Amnovis to make titanium parts for medical devices and industrial applications faster and at a lower cost than a single-laser configuration, 3D said. STMicroelectronics (STM) added 2.9% after the chipmaker Wednesday disclosed plans to build a silicon carbide substrate manufacturing facility at its property in Catania, Italy.
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In company news, 3D Systems (DDD) climbed 2.9% after late Tuesday saying Belgium-based additive manufacturer Amnovis was now using its DMP Flex 350 Dual metal 3D printer. Digital Turbine (APPS) rose 0.3% after Wednesday announcing a strategic investment in Aptoide, with the online advertising platform company leading a $12 million series-B funding round for the Android app store. The deal also will see the companies using their respective technologies to build distribution products for Digital Turbine clients.
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In company news, 3D Systems (DDD) climbed 2.9% after late Tuesday saying Belgium-based additive manufacturer Amnovis was now using its DMP Flex 350 Dual metal 3D printer. Technology stocks were solidly on positive ground this afternoon, with the SPDR Technology Select Sector ETF (XLK) rising 0.8% and the Philadelphia Semiconductor Index gaining 1.4% in late trade. Nauticus Robotics (KITT) rallied Wednesday, with shares of the autonomous underwater vehicle company rising almost 83% after it announced a new contract from the US Defense Innovation Unit for an amphibious robot using the company's ToolKITT command and control software platform.
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In company news, 3D Systems (DDD) climbed 2.9% after late Tuesday saying Belgium-based additive manufacturer Amnovis was now using its DMP Flex 350 Dual metal 3D printer. Technology stocks were solidly on positive ground this afternoon, with the SPDR Technology Select Sector ETF (XLK) rising 0.8% and the Philadelphia Semiconductor Index gaining 1.4% in late trade. The deal also will see the companies using their respective technologies to build distribution products for Digital Turbine clients.
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f49ef685-6ad5-4ea4-a49b-7a1917425fca
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716475.0
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2022-09-28 00:00:00 UTC
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Implied Volatility Surging for 3D Systems (DDD) Stock Options
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DDD
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https://www.nasdaq.com/articles/implied-volatility-surging-for-3d-systems-ddd-stock-options
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nan
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nan
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Investors in 3D Systems Corporation DDD need to pay close attention to the stock based on moves in the options market lately. That is because the Nov 18, 2022 $5.00 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for 3D Systems shares, but what is the fundamental picture for the company? Currently, 3D Systems is a Zacks Rank #3 (Hold) in the Computer - Mini computers industry that ranks in the Bottom 4% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while three have dropped their estimates. The net effect has taken our Zacks Consensus Estimate for the current quarter from earnings of 1 cent per share to loss of 9 cents in that period.
Given the way analysts feel about 3D Systems right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
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3D Systems Corporation (DDD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors in 3D Systems Corporation DDD need to pay close attention to the stock based on moves in the options market lately. 3D Systems Corporation (DDD): Free Stock Analysis Report Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
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3D Systems Corporation (DDD): Free Stock Analysis Report Investors in 3D Systems Corporation DDD need to pay close attention to the stock based on moves in the options market lately. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
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Investors in 3D Systems Corporation DDD need to pay close attention to the stock based on moves in the options market lately. 3D Systems Corporation (DDD): Free Stock Analysis Report Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
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Investors in 3D Systems Corporation DDD need to pay close attention to the stock based on moves in the options market lately. 3D Systems Corporation (DDD): Free Stock Analysis Report However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
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af986de7-0888-4675-9db6-9416320aa035
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716476.0
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2022-09-27 00:00:00 UTC
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Should You Think About Buying 3D Systems Corporation (NYSE:DDD) Now?
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DDD
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https://www.nasdaq.com/articles/should-you-think-about-buying-3d-systems-corporation-nyse%3Addd-now
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nan
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nan
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While 3D Systems Corporation (NYSE:DDD) might not be the most widely known stock at the moment, it received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to US$13.24 at one point, and dropping to the lows of US$7.90. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether 3D Systems' current trading price of US$7.90 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at 3D Systems’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change.
Is 3D Systems Still Cheap?
Great news for investors – 3D Systems is still trading at a fairly cheap price according to my price multiple model, where I compare the company's price-to-earnings ratio to the industry average. In this instance, I’ve used the price-to-earnings (PE) ratio given that there is not enough information to reliably forecast the stock’s cash flows. I find that 3D Systems’s ratio of 4.54x is below its peer average of 14.34x, which indicates the stock is trading at a lower price compared to the Tech industry. Although, there may be another chance to buy again in the future. This is because 3D Systems’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. If the market is bearish, the company’s shares will likely fall by more than the rest of the market, providing a prime buying opportunity.
What does the future of 3D Systems look like?
NYSE:DDD Earnings and Revenue Growth September 27th 2022
Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. Though in the case of 3D Systems, it is expected to deliver a highly negative earnings growth in the next few years, which doesn’t help build up its investment thesis. It appears that risk of future uncertainty is high, at least in the near term.
What This Means For You
Are you a shareholder? Although DDD is currently trading below the industry PE ratio, the adverse prospect of negative growth brings about some degree of risk. Consider whether you want to increase your portfolio exposure to DDD, or whether diversifying into another stock may be a better move for your total risk and return.
Are you a potential investor? If you’ve been keeping tabs on DDD for some time, but hesitant on making the leap, I recommend you dig deeper into the stock. Given its current price multiple, now is a great time to make a decision. But keep in mind the risks that come with negative growth prospects in the future.
If you want to dive deeper into 3D Systems, you'd also look into what risks it is currently facing. For instance, we've identified 4 warning signs for 3D Systems (2 can't be ignored) you should be familiar with.
If you are no longer interested in 3D Systems, you can use our free platform to see our list of over 50 other stocks with a high growth potential.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Although DDD is currently trading below the industry PE ratio, the adverse prospect of negative growth brings about some degree of risk. While 3D Systems Corporation (NYSE:DDD) might not be the most widely known stock at the moment, it received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to US$13.24 at one point, and dropping to the lows of US$7.90. NYSE:DDD Earnings and Revenue Growth September 27th 2022 Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares.
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Although DDD is currently trading below the industry PE ratio, the adverse prospect of negative growth brings about some degree of risk. While 3D Systems Corporation (NYSE:DDD) might not be the most widely known stock at the moment, it received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to US$13.24 at one point, and dropping to the lows of US$7.90. NYSE:DDD Earnings and Revenue Growth September 27th 2022 Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares.
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While 3D Systems Corporation (NYSE:DDD) might not be the most widely known stock at the moment, it received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to US$13.24 at one point, and dropping to the lows of US$7.90. NYSE:DDD Earnings and Revenue Growth September 27th 2022 Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Although DDD is currently trading below the industry PE ratio, the adverse prospect of negative growth brings about some degree of risk.
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NYSE:DDD Earnings and Revenue Growth September 27th 2022 Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Although DDD is currently trading below the industry PE ratio, the adverse prospect of negative growth brings about some degree of risk. While 3D Systems Corporation (NYSE:DDD) might not be the most widely known stock at the moment, it received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to US$13.24 at one point, and dropping to the lows of US$7.90.
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86f8df80-0d37-4a8f-8d2f-8d17faa81826
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716477.0
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2022-09-27 00:00:00 UTC
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3D Printing Is About to Explode; Here's 1 Way to Profit From It
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DDD
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https://www.nasdaq.com/articles/3d-printing-is-about-to-explode-heres-1-way-to-profit-from-it
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nan
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nan
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Years ago, I bought shares of 3D Systems (NYSE: DDD). My investment did not pan out. I should have seen the warning signs. While it was easy to see the potential upside in a radical shift in manufacturing (an "important and emerging industry"), I was unable to find a top dog and first-mover company.
I felt the strongest pure-play was 3D, and their plant was nearby, so I made a small investment in the company. After several years, I took the loss and gave up on it.
Now I believe I have identified the top dog and first mover in additive manufacturing. I'm excited about Velo3D (NYSE: VLD). Here's why I think that additive manufacturing is about to soar far higher, and why Velo3D will lead the way.
Image source: Getty Images.
What is additive manufacturing?
3D manufacturing has been renamed additive manufacturing, or AM. The idea is that you are manufacturing something from nothing ("adding"), as opposed to subtractive manufacturing, where you create something by chipping away at a block of metal, plastic, or other material. Companies like Stratasys (NASDAQ: SSYS) with its MakerBot competed with 3D Systems in the public markets. And while noise was made, the stocks underperformed.
SSYS data by YCharts
These stocks focused on the little-guy manufacturers, the entrepreneurs with garage space who want to create things. And that might still pan out, of course. But I gave up on that idea.
What's exciting me now is the use of AM in the high end, with the creation of very expensive parts for large-cap companies. For instance, rocket engines. It would be amazing if an aerospace company could simply print out a rocket engine. Imagine the money that could be saved, and how much faster the manufacturing process would be. AM promises to be faster and cheaper than traditional manufacturing.
So now we have companies that are competing in that segment as well, like Desktop Metal (NYSE: DM), Markforged (NYSE: MKFG), and the soon-to-be-top-dog (I hope), Velo3D. All three of these stocks have had a very rocky 2022.
DM data by YCharts
But Velo3D is seeing amazing revenue growth and has a super-bright future. And there's a reason for that.
What was the problem with early AM?
There are two major problems with the 3D printing companies up to now. The first major problem that manufacturing companies saw was that after the part was designed, it would break down over time, also known as breakage. So if you wanted to 3D print a new part, you had to add supports to the part so that you could avoid part failure.
The other problem with the 3D printers is that you often had to redesign the part so the machine could create it. You have a part, you want to 3D print it because that's cheaper, and now you have to spend time redesigning the part for the machine. That's not cheap (or quick). So the manufacturing industry has been a little annoyed with these 3D printing companies that say they're going to change the world. It hasn't happened yet.
Velo3D came up with a solution to both of those problems: a 3D laser printer that does not have any breakage. And you can use your existing designs to print the part. That was the company's sales pitch to Elon Musk. And Musk, who is very open-minded, decided to try the machine out.
After testing, the head of additive manufacturing at SpaceX opined that the technology is five years ahead of everybody else. Musk was so excited that he tried to buy the company last year.
The founder/CEO, Benny Buller, did not want to sell. He founded this company, and it's his life dream. But Musk wanted to buy all the machines he had -- and the future machines, too. So SpaceX became a strategic investor. The company bought a bunch of the printers and preordered advance copies of the next generation of the printers (bigger ones). SpaceX wants to go to Mars, and they have to build rockets. They would love to laser-print as much as they can to save costs.
I am bullish on 3D printers, particularly if the machines work as advertised
I am not an engineer, so I cannot really judge the technology. But right now, demand is through the roof, even in this negative and ugly market. (While coming off a tiny base, sales are up 160% from a year ago). So Velo3D is one of my more bullish ideas.
My family started buying Velo3D stock in July and August, adding small positions over a couple of months. This is only a move for the risk-tolerant, as Velo3D isn't profitable and the company is still burning a lot of cash. The company finished Q2 with $142 million in cash, after burning through $44 million in three months.
If 3D manufacturing pans out, this is a massive opportunity over the next 20 to 30 years (and far longer than that, actually). And the CEO says his company will take market share from rivals and climb out into top dog status. I believe him, and I trust Musk's engineering judgment. So my money is here.
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Taylor Carmichael has positions in Velo3D, Inc. The Motley Fool recommends 3D Systems and Velo3D, Inc. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Years ago, I bought shares of 3D Systems (NYSE: DDD). While it was easy to see the potential upside in a radical shift in manufacturing (an "important and emerging industry"), I was unable to find a top dog and first-mover company. SSYS data by YCharts These stocks focused on the little-guy manufacturers, the entrepreneurs with garage space who want to create things.
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Years ago, I bought shares of 3D Systems (NYSE: DDD). So now we have companies that are competing in that segment as well, like Desktop Metal (NYSE: DM), Markforged (NYSE: MKFG), and the soon-to-be-top-dog (I hope), Velo3D. My family started buying Velo3D stock in July and August, adding small positions over a couple of months.
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Years ago, I bought shares of 3D Systems (NYSE: DDD). 3D manufacturing has been renamed additive manufacturing, or AM. The first major problem that manufacturing companies saw was that after the part was designed, it would break down over time, also known as breakage.
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Years ago, I bought shares of 3D Systems (NYSE: DDD). The other problem with the 3D printers is that you often had to redesign the part so the machine could create it. Musk was so excited that he tried to buy the company last year.
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82303ac3-cac6-48bf-acdb-b9754bc570a5
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716478.0
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2022-09-13 00:00:00 UTC
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3D Systems (DDD) Introduces Two Production Grade Materials
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-introduces-two-production-grade-materials
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nan
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nan
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3D Systems DDD recently unveiled two production-grade materials — Figure 4 Tough Clear and DuraForm PAx Black — for application in industries, including consumer goods, transportation & motorsports, aerospace & defense and service bureaus. These additive manufacturing solutions, designed to accelerate material innovation, are likely to be available in the fourth quarter of 2022.
3D Systems’ first clear material solution, Tough Clear, is an addition to its Figure 4 portfolio of production-grade materials. DDD offers long-term stability that minimizes reprints due to resistance to discoloration or yellowing for up to eight years indoors and one and half years outdoors. The durable production solution also offers environmental stability of the mechanical properties it holds, humidity stability and chemical compatibility.
The newly-designed cost-efficient solution can be used for manufacturing end-use high-volume small plastic parts, load-bearing handles, cranks, knobs, levers, structural brackets, snap-fits, fasteners, lighting covers, cases, reflectors, lenses, light guides and fast-moving consumer goods. It offers excellent clarity that can be improved with post-processing.
The leading 3D content-to-print solutions provider’s other launch, DuraForm PAx Black, is a nylon copolymer that offers properties similar to injection molded plastics. Its low printing temperatures enable high throughput and high impact resistance with a high elongation support break in any direction, including Z. This low-cost solution, an addition to 3D Systems’ open material portfolio for use with selective laser sintering printers, offers more than five years of long-term stability indoors and has low operator maintenance.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
Highly recyclable, DuraForm PAx Black material can be used for the development of applications, such as orthotics, tooling handles, splints and braces, and ducting in rugged environments, living hinges, liquid reservoirs and enclosures requiring high impact and high toughness.
3D Systems is anticipating material science to be a key driver in the transition to 3D production. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend. Going forward, DDD expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
Last week, the additive manufacturer declared the formation of a wholly-owned bioprinting startup, Systemic Bio, to accelerate the development of new drugs that will aid in reducing or eliminating the need for animal testing. This is likely to expand 3D Systems’ growth opportunities in the domain of pharmaceuticals and create a new revenue stream that could reach $100 million annually over the next five years.
Zacks Rank & Stocks to Consider
3D Systems currently has a Zacks Rank #3 (Hold). Shares of DDD have plunged 66.5% in the past year.
Some better-ranked stocks from the broader Computer and Technology sector are Clearfield CLFD, Silicon Laboratories SLAB and EPAM Systems EPAM, each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Clearfield's fourth-quarter fiscal 2022 earnings has been revised 10 cents north to 80 cents per share over the past 60 days. For fiscal 2022, earnings estimates have moved 36 cents north to $3.13 per share in the past 60 days.
Clearfield’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 33.9%. Shares of CLFD have increased 126.5% in the past year.
The Zacks Consensus Estimate for Silicon Laboratories’ third-quarter 2022 earnings has increased 36% to $1.13 per share over the past 60 days. For 2022, earnings estimates have moved 20.5% up to $4.41 per share in the past 60 days.
Silicon Laboratories’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average being 63.6%. Shares of SLAB have decreased 10% in the past year.
The Zacks Consensus Estimate for EPAM Systems' third-quarter 2022 earnings has been revised 5 cents upward to $2.45 per share over the past 30 days. For 2022, earnings estimates have moved 13 cents north to $9.79 per share in the past 30 days.
EPAM's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 23%. The stock has decreased 29% in the past year.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
3D Systems Corporation (DDD): Free Stock Analysis Report
EPAM Systems, Inc. (EPAM): Free Stock Analysis Report
Silicon Laboratories, Inc. (SLAB): Free Stock Analysis Report
Clearfield, Inc. (CLFD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD recently unveiled two production-grade materials — Figure 4 Tough Clear and DuraForm PAx Black — for application in industries, including consumer goods, transportation & motorsports, aerospace & defense and service bureaus. DDD offers long-term stability that minimizes reprints due to resistance to discoloration or yellowing for up to eight years indoors and one and half years outdoors. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
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3D Systems DDD recently unveiled two production-grade materials — Figure 4 Tough Clear and DuraForm PAx Black — for application in industries, including consumer goods, transportation & motorsports, aerospace & defense and service bureaus. DDD offers long-term stability that minimizes reprints due to resistance to discoloration or yellowing for up to eight years indoors and one and half years outdoors. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
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3D Systems DDD recently unveiled two production-grade materials — Figure 4 Tough Clear and DuraForm PAx Black — for application in industries, including consumer goods, transportation & motorsports, aerospace & defense and service bureaus. DDD offers long-term stability that minimizes reprints due to resistance to discoloration or yellowing for up to eight years indoors and one and half years outdoors. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
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3D Systems DDD recently unveiled two production-grade materials — Figure 4 Tough Clear and DuraForm PAx Black — for application in industries, including consumer goods, transportation & motorsports, aerospace & defense and service bureaus. DDD offers long-term stability that minimizes reprints due to resistance to discoloration or yellowing for up to eight years indoors and one and half years outdoors. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
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91157307-4482-478e-a23d-c2d57af290e3
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716479.0
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2022-09-09 00:00:00 UTC
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3D Systems (DDD) Launches Startup, Boosts Drug Discovery
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-launches-startup-boosts-drug-discovery
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nan
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nan
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3D Systems DDD recently announced the formation of a wholly-owned bioprinting startup — Systemic Bio — to accelerate the development of new drugs that will aid in reducing or eliminating the need for animal testing.
Initially, the 3D printing company is investing $15 million in seeds to offer its support to Systemic Bio. The new formation is likely to expand 3D Systems’ growth opportunities in the domain of pharmaceuticals and create a new revenue stream that could reach $100 million annually over the next five years.
Leveraging 3D Systems’ advanced bioprinting technologies, Systemic Bio intends to accurately produce vascularized organ models with the application of biomaterials and human cells. The new firm has created a unique organ-on-a-chip platform, h-VIOS (human vascularized integrated organ systems), by using hydrogels to produce complex vasculature. This organs-on-chip technology, when perfused with any desired drug compound, aids in studying drug metabolism and its effects on healthy or diseased tissue at the earliest stages of new pharmaceutical drug development.
Further, Systemic Bio will integrate its bioprinting solutions with 3D Systems’ Print to Perfusion process to bioprint highly complex, custom-designed, vascularized tissues for h-VIOS. This combination will enable DDD in 3D printing high-resolution scaffolds that perfectly imitate human tissues. This innovative approach might significantly reduce the high costs and time required for new drug discovery.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
Systemic Bio will be headed by Taci Pereira.
Shares of DDD have plunged 69.4% in the past year.
Zacks Rank & Stocks to Consider
3D Systems currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader Computer and Technology sector are Clearfield CLFD, Silicon Laboratories SLAB and Taiwan Semiconductor TSM. While Clearfield and Silicon Laboratories flaunt a Zacks Rank #1 (Strong Buy), Taiwan Semiconductor carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Clearfield's fourth-quarter fiscal 2022 earnings has been revised 10 cents north to 80 cents per share over the past 60 days. For fiscal 2022, earnings estimates have moved 36 cents north to $3.13 per share in the past 60 days.
Clearfield’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 33.9%. Shares of CLFD have increased 123.7% in the past year.
The Zacks Consensus Estimate for Silicon Laboratories’ third-quarter 2022 earnings has increased 36% to $1.13 per share over the past 60 days. For 2022, earnings estimates have moved 25% up to $1.05 per share in the past 60 days.
Silicon Laboratories’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 63.6%. Shares of SLAB have decreased 12.7% in the past year.
The Zacks Consensus Estimate for Taiwan Semiconductor's third-quarter 2022 earnings has been revised a penny southward to $1.69 per share over the past 30 days. For 2022, earnings estimates have moved 41 cents north to $6.30 per share in the past 60 days.
TSM's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 3.9%. Shares of the company have decreased 34.6% in the past year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Taiwan Semiconductor Manufacturing Company Ltd. (TSM): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
Silicon Laboratories, Inc. (SLAB): Free Stock Analysis Report
Clearfield, Inc. (CLFD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD recently announced the formation of a wholly-owned bioprinting startup — Systemic Bio — to accelerate the development of new drugs that will aid in reducing or eliminating the need for animal testing. This combination will enable DDD in 3D printing high-resolution scaffolds that perfectly imitate human tissues. Shares of DDD have plunged 69.4% in the past year.
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3D Systems DDD recently announced the formation of a wholly-owned bioprinting startup — Systemic Bio — to accelerate the development of new drugs that will aid in reducing or eliminating the need for animal testing. This combination will enable DDD in 3D printing high-resolution scaffolds that perfectly imitate human tissues. Shares of DDD have plunged 69.4% in the past year.
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3D Systems DDD recently announced the formation of a wholly-owned bioprinting startup — Systemic Bio — to accelerate the development of new drugs that will aid in reducing or eliminating the need for animal testing. This combination will enable DDD in 3D printing high-resolution scaffolds that perfectly imitate human tissues. Shares of DDD have plunged 69.4% in the past year.
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3D Systems DDD recently announced the formation of a wholly-owned bioprinting startup — Systemic Bio — to accelerate the development of new drugs that will aid in reducing or eliminating the need for animal testing. This combination will enable DDD in 3D printing high-resolution scaffolds that perfectly imitate human tissues. Shares of DDD have plunged 69.4% in the past year.
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d5e4f040-c72b-4a83-b250-f2aadfb10ee4
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716480.0
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2022-09-08 00:00:00 UTC
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First Trust Small Cap Core AlphaDEX Fund -- Insider Buying Index Registering 10.2%
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DDD
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https://www.nasdaq.com/articles/first-trust-small-cap-core-alphadex-fund-insider-buying-index-registering-10.2
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nan
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nan
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A look at the weighted underlying holdings of the First Trust Small Cap Core AlphaDEX Fund (Symbol: FYX) shows an impressive 10.2% of holdings on a weighted basis have experienced insider buying within the past six months.
Franchise Group Inc (Symbol: FRG), which makes up 0.31% of the First Trust Small Cap Core AlphaDEX Fund (Symbol: FYX), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $2,414,584 worth of FRG, making it the #63 largest holding. The table below details the recent insider buying activity observed at FRG:
FRG — last trade: $34.30 — Recent Insider Buys:
PURCHASED INSIDER TITLE SHARES PRICE/SHARE VALUE
03/11/2022 Patrick A. Cozza Director 2,000 $42.50 $85,000
05/09/2022 Brian Randall Kahn Chief Executive Officer 100,000 $37.50 $3,750,000
And 3D Systems Corp. (Symbol: DDD), the #88 largest holding among components of the First Trust Small Cap Core AlphaDEX Fund (Symbol: FYX), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $2,375,131 worth of DDD, which represents approximately 0.30% of the ETF's total assets at last check. The recent insider buying activity observed at DDD is detailed in the table below:
DDD — last trade: $9.58 — Recent Insider Buys:
PURCHASED INSIDER TITLE SHARES PRICE/SHARE VALUE
05/19/2022 Jeffrey A. Graves President and CEO 10,141 $10.50 $106,480
05/26/2022 Jim D. Kever Director 10,000 $10.65 $106,500
10 ETFs With Stocks That Insiders Are Buying »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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03/11/2022 Patrick A. Cozza Director 2,000 $42.50 $85,000 05/09/2022 Brian Randall Kahn Chief Executive Officer 100,000 $37.50 $3,750,000 And 3D Systems Corp. (Symbol: DDD), the #88 largest holding among components of the First Trust Small Cap Core AlphaDEX Fund (Symbol: FYX), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $2,375,131 worth of DDD, which represents approximately 0.30% of the ETF's total assets at last check. The recent insider buying activity observed at DDD is detailed in the table below: DDD — last trade: $9.58 — Recent Insider Buys:
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03/11/2022 Patrick A. Cozza Director 2,000 $42.50 $85,000 05/09/2022 Brian Randall Kahn Chief Executive Officer 100,000 $37.50 $3,750,000 And 3D Systems Corp. (Symbol: DDD), the #88 largest holding among components of the First Trust Small Cap Core AlphaDEX Fund (Symbol: FYX), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $2,375,131 worth of DDD, which represents approximately 0.30% of the ETF's total assets at last check. The recent insider buying activity observed at DDD is detailed in the table below: DDD — last trade: $9.58 — Recent Insider Buys:
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03/11/2022 Patrick A. Cozza Director 2,000 $42.50 $85,000 05/09/2022 Brian Randall Kahn Chief Executive Officer 100,000 $37.50 $3,750,000 And 3D Systems Corp. (Symbol: DDD), the #88 largest holding among components of the First Trust Small Cap Core AlphaDEX Fund (Symbol: FYX), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $2,375,131 worth of DDD, which represents approximately 0.30% of the ETF's total assets at last check. The recent insider buying activity observed at DDD is detailed in the table below: DDD — last trade: $9.58 — Recent Insider Buys:
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03/11/2022 Patrick A. Cozza Director 2,000 $42.50 $85,000 05/09/2022 Brian Randall Kahn Chief Executive Officer 100,000 $37.50 $3,750,000 And 3D Systems Corp. (Symbol: DDD), the #88 largest holding among components of the First Trust Small Cap Core AlphaDEX Fund (Symbol: FYX), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $2,375,131 worth of DDD, which represents approximately 0.30% of the ETF's total assets at last check. The recent insider buying activity observed at DDD is detailed in the table below: DDD — last trade: $9.58 — Recent Insider Buys:
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f9c915b6-1ebe-4d88-b1f1-d030e8a5787d
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716481.0
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2022-09-07 00:00:00 UTC
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3D Systems (DDD) Down 16.6% Since Last Earnings Report: Can It Rebound?
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-down-16.6-since-last-earnings-report%3A-can-it-rebound
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nan
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nan
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It has been about a month since the last earnings report for 3D Systems (DDD). Shares have lost about 16.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is 3D Systems due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
3D Systems Earnings & Revenues Miss Estimates in Q2
3D Systems reported second-quarter 2022 non-GAAP loss of 7 cents per share, missing the Zacks Consensus Estimate of break-even. The bottom line compared unfavorably with the prior-year quarter’s earnings of 12 cents per share.
In the second quarter of 2022, 3D Systems reported revenues of $140 million, down 13.8% from the year-ago quarter but up 5.3% from the previous quarter. Excluding the impact of business divestments in 2022 and on a constant currency basis, revenues increased 7.8% year over year. The top line lagged the consensus mark of $149.1 million for the second consecutive quarter.
3D Systems’ second-quarter performance reflected impacts of inflationary pressure, foreign exchange risks and supply chain disruptions, among other ongoing macroeconomic constraints.
Quarter in Detail
In the second quarter, product revenues represented 74% of the total revenues and decreased 4.5% to $103.8 million. Revenues from Services, which accounted for 25.9% of revenues, plunged 32.7% year over year to $36.3 million.
Revenues from the Healthcare segment fell 13.4% year over year to $71.7 million. The figure increased 11.5% from the prior quarter. Excluding the impact of business divestments, the segment’s revenues increased 4.7% year over year.
The industrial division revenues decreased 14.3% year over year to $68.3 million and 0.6% sequentially. Excluding the impact of business divestments, the unit’s revenues increased 11.2%. The company witnessed solid demand for products as well as materials.
Operating Details
During the second quarter of 2022, 3D Systems’ non-GAAP gross profit decreased 5.2% year over year to $53.3 million. Consequently, non-GAAP gross profit margin contracted 330 basis points (bps) to 38.1%. This decrease was driven by year-over-year product mix changes due to divestitures and increased supply chain disruptions.
Non-GAAP operating expenses increased 24.5% to $60.9 million. The increase was due to spending related to future growth, which includes expenses from acquisitions, research and development, and corporate infrastructure.
Non-GAAP operating loss was $7.6 million versus the year-ago operating income of $7.3 million.
Adjusted EBITDA was negative $2.6 million. The margin of negative 1.9% reflected the inflationary impact on input costs and gradual investments for portfolio & business growth.
Balance Sheet Details
The company exited the second quarter with cash, cash equivalents and short-term investments of $638.2 million, lower than the prior quarter's $745.6 million. As of Jun 30, 2022, 3D Systems had a total debt of $448.1 million, slightly up from the previous quarter’s $447.5 million.
In the first six months of 2022, the company utilized $38.2 million of cash from operational activities.
Guidance
3D Systems once again trimmed its full-year 2022 guidance. The company now expects revenues between $530 million and $570 million, compared with the previously expected band of $580 million to $625 million. It now projects non-GAAP gross margin to be 39-41% rather than the previously estimated 40-43%.
Non-GAAP operating expense is estimated to be $245-$250 million, raising the lower end from the earlier projection of $235-$250 million.
Management provided this guidance with the assumption that the pandemic, supply chain disruptions or any geopolitical events will not be of any concern in 2022.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in fresh estimates.
The consensus estimate has shifted -67.57% due to these changes.
VGM Scores
Currently, 3D Systems has a poor Growth Score of F, a grade with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise 3D Systems has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It has been about a month since the last earnings report for 3D Systems (DDD). 3D Systems Corporation (DDD): Free Stock Analysis Report Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
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It has been about a month since the last earnings report for 3D Systems (DDD). 3D Systems Corporation (DDD): Free Stock Analysis Report 3D Systems Earnings & Revenues Miss Estimates in Q2 3D Systems reported second-quarter 2022 non-GAAP loss of 7 cents per share, missing the Zacks Consensus Estimate of break-even.
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It has been about a month since the last earnings report for 3D Systems (DDD). 3D Systems Corporation (DDD): Free Stock Analysis Report 3D Systems Earnings & Revenues Miss Estimates in Q2 3D Systems reported second-quarter 2022 non-GAAP loss of 7 cents per share, missing the Zacks Consensus Estimate of break-even.
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It has been about a month since the last earnings report for 3D Systems (DDD). 3D Systems Corporation (DDD): Free Stock Analysis Report The company now expects revenues between $530 million and $570 million, compared with the previously expected band of $580 million to $625 million.
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e6490c4f-41a1-4ce4-86fc-2e6ee9a9ed3c
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716482.0
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2022-08-22 00:00:00 UTC
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Is There An Opportunity With 3D Systems Corporation's (NYSE:DDD) 36% Undervaluation?
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DDD
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https://www.nasdaq.com/articles/is-there-an-opportunity-with-3d-systems-corporations-nyse%3Addd-36-undervaluation
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nan
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nan
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In this article we are going to estimate the intrinsic value of 3D Systems Corporation (NYSE:DDD) by projecting its future cash flows and then discounting them to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow.
We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.
The Model
We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.
A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars:
10-year free cash flow (FCF) estimate
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Levered FCF ($, Millions) US$2.88m US$26.4m US$45.6m US$68.9m US$94.1m US$118.6m US$141.0m US$160.4m US$176.8m US$190.5m
Growth Rate Estimate Source Analyst x4 Analyst x3 Est @ 72.39% Est @ 51.25% Est @ 36.46% Est @ 26.1% Est @ 18.85% Est @ 13.78% Est @ 10.23% Est @ 7.74%
Present Value ($, Millions) Discounted @ 7.6% US$2.7 US$22.8 US$36.5 US$51.4 US$65.1 US$76.3 US$84.2 US$89.1 US$91.2 US$91.3
("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$610m
After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (1.9%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.6%.
Terminal Value (TV)= FCF2032 × (1 + g) ÷ (r – g) = US$190m× (1 + 1.9%) ÷ (7.6%– 1.9%) = US$3.4b
Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$3.4b÷ ( 1 + 7.6%)10= US$1.6b
The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$2.2b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of US$11.1, the company appears quite good value at a 36% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.
NYSE:DDD Discounted Cash Flow August 22nd 2022
Important Assumptions
Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at 3D Systems as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.6%, which is based on a levered beta of 1.343. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.
Next Steps:
Although the valuation of a company is important, it shouldn't be the only metric you look at when researching a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. Can we work out why the company is trading at a discount to intrinsic value? For 3D Systems, we've compiled three important factors you should explore:
Risks: You should be aware of the 4 warning signs for 3D Systems (2 are potentially serious!) we've uncovered before considering an investment in the company.
Future Earnings: How does DDD's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.
Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!
PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NYSE every day. If you want to find the calculation for other stocks just search here.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In this article we are going to estimate the intrinsic value of 3D Systems Corporation (NYSE:DDD) by projecting its future cash flows and then discounting them to today's value. NYSE:DDD Discounted Cash Flow August 22nd 2022 Important Assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. Future Earnings: How does DDD's growth rate compare to its peers and the wider market?
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NYSE:DDD Discounted Cash Flow August 22nd 2022 Important Assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. In this article we are going to estimate the intrinsic value of 3D Systems Corporation (NYSE:DDD) by projecting its future cash flows and then discounting them to today's value. Future Earnings: How does DDD's growth rate compare to its peers and the wider market?
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NYSE:DDD Discounted Cash Flow August 22nd 2022 Important Assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. In this article we are going to estimate the intrinsic value of 3D Systems Corporation (NYSE:DDD) by projecting its future cash flows and then discounting them to today's value. Future Earnings: How does DDD's growth rate compare to its peers and the wider market?
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In this article we are going to estimate the intrinsic value of 3D Systems Corporation (NYSE:DDD) by projecting its future cash flows and then discounting them to today's value. NYSE:DDD Discounted Cash Flow August 22nd 2022 Important Assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. Future Earnings: How does DDD's growth rate compare to its peers and the wider market?
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1487012c-274d-4fec-a529-386d5e3bd9ee
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716483.0
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2022-08-09 00:00:00 UTC
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3D Systems Shares Fall On Q2 Wider Loss, Lower FY22 Outlook
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DDD
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https://www.nasdaq.com/articles/3d-systems-shares-fall-on-q2-wider-loss-lower-fy22-outlook
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nan
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nan
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(RTTNews) - Shares of 3D Systems Corp. (DDD) are sliding more than 18 percent on Tuesday morning trade after the company reported second-quarter loss, wider than the prior year. Further, the company reduced its full-year 2022 outlook.
The quarter loss was $33 million or $0.26 per share, compared to $9.6 million or $0.08 per share in the prior year. On an adjusted basis, loss was $8.5 million or $0.07 per share.
Revenue for the quarter declined 13.8 percent to $140 million from $162.6 million in the prior year.
The company reduced guidance for the full year 2022 and now expects revenue to be within a range of $530 to $570 million, lower than the previous range of $580 to $625 million.
Currently, shares are at $11.13, down 15.94 percent from the previous close of $13.24 on a volume of 895,280.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Shares of 3D Systems Corp. (DDD) are sliding more than 18 percent on Tuesday morning trade after the company reported second-quarter loss, wider than the prior year. The company reduced guidance for the full year 2022 and now expects revenue to be within a range of $530 to $570 million, lower than the previous range of $580 to $625 million. Currently, shares are at $11.13, down 15.94 percent from the previous close of $13.24 on a volume of 895,280.
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(RTTNews) - Shares of 3D Systems Corp. (DDD) are sliding more than 18 percent on Tuesday morning trade after the company reported second-quarter loss, wider than the prior year. The quarter loss was $33 million or $0.26 per share, compared to $9.6 million or $0.08 per share in the prior year. Revenue for the quarter declined 13.8 percent to $140 million from $162.6 million in the prior year.
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(RTTNews) - Shares of 3D Systems Corp. (DDD) are sliding more than 18 percent on Tuesday morning trade after the company reported second-quarter loss, wider than the prior year. The quarter loss was $33 million or $0.26 per share, compared to $9.6 million or $0.08 per share in the prior year. Revenue for the quarter declined 13.8 percent to $140 million from $162.6 million in the prior year.
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(RTTNews) - Shares of 3D Systems Corp. (DDD) are sliding more than 18 percent on Tuesday morning trade after the company reported second-quarter loss, wider than the prior year. The quarter loss was $33 million or $0.26 per share, compared to $9.6 million or $0.08 per share in the prior year. Revenue for the quarter declined 13.8 percent to $140 million from $162.6 million in the prior year.
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1dc5f909-f322-4e1e-b699-c6ded27866b0
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716484.0
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2022-08-09 00:00:00 UTC
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Why 3D Systems Stock Crashed 14% Today
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DDD
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https://www.nasdaq.com/articles/why-3d-systems-stock-crashed-14-today
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nan
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nan
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What happened
Nearly a week after 3D printer company Stratasys (NASDAQ: SSYS) reported a big loss for its fiscal second quarter of 2022 -- and lost 4% of its market cap in consequence -- Stratasys archrival 3D Systems (NYSE: DDD) reported a sizable loss of its own.
As of 11 a.m., 3D Systems stock is down 14%.
So what
Heading into its Q2, analysts had forecast 3D Systems would just break even on sales of $149.1 million. As it turned out, the company missed that sales target, with quarterly revenue coming in 14% lower than a year ago at just $140 million. 3D Systems also failed to break even from a profits perspective, reporting a loss of $0.07 per share instead.
And that's the good news. The bad news is that 3D Systems' $0.07-per-share loss was a non-GAAP (adjusted) number, and when calculated according to generally accepted accounting principles (GAAP), 3D Systems lost even more money in Q2 -- $0.26 per share, which was more than three times the loss the company recorded in Q2 2021.
Now what
Granted, this news wasn't quite as bad as it seems. 3D Systems has been slimming down and cutting noncore businesses, after all, and if you exclude the revenue lost from divestitures, the company's sales actually did grow a bit -- 8% -- in Q2.
Still, the loss was very real. In addition to eschewing profit from the divested businesses, 3D Systems noted that its results were hurt by well-publicized supply chain disruptions, raw materials inflation, and also a strong U.S. dollar that depressed the value of foreign-earned profits when translated back into dollars.
Management says it's "already taken certain cost and efficiency-related actions and will take additional measures as we move through 2022, with the goal of mitigating the impact of reduced near-term demand on our financial results" -- but that didn't help 3D Systems much in Q2. And going forward, the company is warning investors that its sales will be about $50 million lower this year than previously predicted -- somewhere between $530 million and $570 million. That probably means 3D Systems will miss earnings expectations this year as well.
Given that analysts were already expecting 3D Systems to report a $0.54-per-share loss for the year (and that this number will now be even worse), I'm afraid all the investors selling 3D Systems stock today are probably making the right call.
10 stocks we like better than 3D Systems
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They just revealed what they believe are the ten best stocks for investors to buy right now... and 3D Systems wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends 3D Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Nearly a week after 3D printer company Stratasys (NASDAQ: SSYS) reported a big loss for its fiscal second quarter of 2022 -- and lost 4% of its market cap in consequence -- Stratasys archrival 3D Systems (NYSE: DDD) reported a sizable loss of its own. As it turned out, the company missed that sales target, with quarterly revenue coming in 14% lower than a year ago at just $140 million. 3D Systems has been slimming down and cutting noncore businesses, after all, and if you exclude the revenue lost from divestitures, the company's sales actually did grow a bit -- 8% -- in Q2.
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What happened Nearly a week after 3D printer company Stratasys (NASDAQ: SSYS) reported a big loss for its fiscal second quarter of 2022 -- and lost 4% of its market cap in consequence -- Stratasys archrival 3D Systems (NYSE: DDD) reported a sizable loss of its own. As it turned out, the company missed that sales target, with quarterly revenue coming in 14% lower than a year ago at just $140 million. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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What happened Nearly a week after 3D printer company Stratasys (NASDAQ: SSYS) reported a big loss for its fiscal second quarter of 2022 -- and lost 4% of its market cap in consequence -- Stratasys archrival 3D Systems (NYSE: DDD) reported a sizable loss of its own. The bad news is that 3D Systems' $0.07-per-share loss was a non-GAAP (adjusted) number, and when calculated according to generally accepted accounting principles (GAAP), 3D Systems lost even more money in Q2 -- $0.26 per share, which was more than three times the loss the company recorded in Q2 2021. Given that analysts were already expecting 3D Systems to report a $0.54-per-share loss for the year (and that this number will now be even worse), I'm afraid all the investors selling 3D Systems stock today are probably making the right call.
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What happened Nearly a week after 3D printer company Stratasys (NASDAQ: SSYS) reported a big loss for its fiscal second quarter of 2022 -- and lost 4% of its market cap in consequence -- Stratasys archrival 3D Systems (NYSE: DDD) reported a sizable loss of its own. As it turned out, the company missed that sales target, with quarterly revenue coming in 14% lower than a year ago at just $140 million. 3D Systems also failed to break even from a profits perspective, reporting a loss of $0.07 per share instead.
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9424fbc4-559b-4776-a7a0-c72df3aef703
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716485.0
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2022-08-09 00:00:00 UTC
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3D Systems (DDD) Q2 2022 Earnings Call Transcript
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-q2-2022-earnings-call-transcript
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nan
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nan
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Image source: The Motley Fool.
3D Systems (NYSE: DDD)
Q2 2022 Earnings Call
Aug 09, 2022, 8:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Hello. Good morning and welcome to 3D Systems conference call and audio webcast to discuss the results of the second quarter 2022. My name is Kevin and I will facilitate the audio portion of today's interactive broadcast. [Operator instructions].
As a reminder, this conference is being recorded. At this time, I would like to turn the call over to Russell Johnson, vice president, treasurer, and investor relations. Please go ahead.
Russell Johnson -- Vice President, Treasurer, and Investor Relations
Good morning and welcome to 3D Systems second quarter 2022 conference call. With me on today's call are Dr. Jeffrey Graves, president and chief executive officer; Wayne Pensky, interim chief financial officer; and Andrew Johnson, executive vice president and chief legal officer. The webcast portion of this call contains a slide presentation that we will refer to during the call.
Those following along in the phone who wish to access the slide portion of this presentation may do so on the investor relations section of our website. For those who have accessed the streaming portion of the webcast, please be aware that there maybe a few seconds delay and that you will not be able to post questions via the web. The following discussion and responses to your questions reflect management's views as of today only and will include forward-looking statements as described on this slide. Actual results may differ materially.
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When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and 3D Systems wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of July 27, 2022
Additional information about factors that could potentially impact our financial results is included in last night's press release and our filings with the SEC, including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q. During this call, we will discuss certain non-GAAP financial measures. In our press release and slides accompanying this webcast, which are both available on our investor relations website, you will find additional disclosures regarding these non-GAAP measures, including reconciliations of these measures with comparable GAAP measures. Finally, unless otherwise stated, all comparisons in this call will be against our results for the comparable period of 2021.
With that, I will turn the call over to our CEO, Jeff Graves for opening remarks.
Jeff Graves -- Chief Executive Officer
Thank you, Russell, and good morning everyone. I want to thank all of you for joining today's discussion of our second quarter results. As always, it's my pleasure to have this opportunity to speak with you and share my perspectives on our ongoing efforts to make 3D Systems the world's most innovative and successful provider of additive manufacturing solutions. As I look out on the environment, which 3D Systems is operating today, I see much to be optimistic about, but I also see a complex and volatile mix of business conditions that's challenging our ability to deliver consistent results during 2022.
On one hand, it's clear to me that the underlying trends supporting the broad adoption of additive manufacturing solutions in production environments are both strong and resilient across our diversified economy in applications ranging from the traditional manufacturing shop floor to the biotech laboratory, where life-saving medical treatments are created. Additive manufacturing technologies are enabling new levels of efficiency, flexibility, and innovation. These macro trends give me tremendous confidence in this industry and in 3D Systems role as a leader in it. It's this confidence that's guiding the strategic actions we are taking this year to consistently invest in new additive technologies and in our internal infrastructure to support future growth.
On the other hand, the new normal of our post-pandemic world is proving anything but normal. As we highlighted in yesterday's earnings released during the second quarter, 3D Systems, like many other companies encountered a more difficult global business environment that we had anticipated when we exited 2021. Our performance this quarter was impacted negatively by various macroeconomic and geopolitical factors, most notably stubborn supply chain issues, foreign exchange volatility, and our exit from the Russian market. While these factors such as these are often hard to predict or control, the reality is that they generated unexpected headwinds for our business during the second quarter and led to revenue growth and profitability below our internal expectations and no doubt below the expectations of our investors as well.
Looking ahead to the second half of the year, we now believe that these factors combined with an expectation of dampened consumer discretionary spending driven by the rapid rise in the price of food, gasoline, and other daily necessities will impact our results. As a result, we are taking a more conservative stance on our outlook for the balance of the year and reducing our 2022 guidance. While we hope that these effects will be short lived, I feel it's important to be prudent to plan for them until the data suggests otherwise. Fortunately, we have the scale, the balance sheet, and then an exceptional customer base, which allows us to weather these short-term headwinds and continue to prudently invest for the strong growth opportunities we see when inevitably these headwinds subside.
We will do so with the same financial discipline that I hope you now have come to associate with this leadership team. For today's call, we will start with my summary comments on the quarter and the full year forecast and then Wayne Pensky will provide more details. For the consolidated company, after adjusting for the significant divestiture program that we completed in 2021, revenue for the second quarter grew 3.2% year-over-year and 7.8% in constant currency. As I mentioned, several exogenous factors have an outsized impact on the second quarter top line.
These include the rapid strengthening of the U.S. dollar and the frustrating continuation of components shortages and other supply chain disruptions that we experienced during Q1. They also include the ongoing tragedy of the war in Ukraine, which led us to exit the Russian market and has since negatively impacted business confidence in the European countries, such as Germany, where 3D Systems and particularly our industrial segment, has traditionally had a strong presence. We are not for these headwinds our consolidated revenue for the second quarter would have grown by healthy double-digits year-over-year as we had anticipated.
So while we are by no means satisfied with our quarterly results, it's important to view them in the light of the very challenging and volatile macro environment we faced during the quarter. To reinforce the message we have stated previously, with the increasing adoption of additive manufacturing and production environments across both our healthcare and industrial customer base, we anticipate delivering solid double-digit annual revenue growth once these shorter term headwinds subside. Turning to our divestiture adjusted segment performance, in the second quarter, revenue for our industrial segment grew 3.8% year-over-year and 11.2% in constant currency, while revenue for our healthcare segment grew 2.9% and 4.7% in constant currency. The foreign exchange impact on our industrial segment was quite significant due to that segment's exposure to manufacturers and service bureau customers in Europe and Asia-Pacific.
Industrial also experienced the biggest revenue impact due to our exit from the Russian market. In healthcare, second quarter revenue came in softer than expected. The slower growth in healthcare was driven largely by a postponement of elective procedures due to both a resurgence of COVID which once again limited patient access to hospitals and to greatly heightened inflationary pressures on consumers, which forced them to prioritize their purchases and postpone optional care, particularly in the dental market. Fortunately, once the impact of COVID again subsides, inflation begins to cool we expect these elective procedures to once again accelerate.
However, to be clear in our updated guidance, we have modeled these conditions as now extending through the year, end of the year. So in short, we are reducing our revenue estimates for the full year assuming that the challenges we saw as we exited the second quarter continue throughout the remainder of the year. These primarily include the impact of currency, inflation, and supply chain disruption. In addition to these objective factors, we are also receiving clear signals from selected customers of their visibility into near-term demand trends has diminished.
In response, they are slowing their expansion plans and adjusting purchases to more tightly control inventory levels until their visibility into demand improves. Major drivers of this uncertainty are the potential impact of recessionary pressures on consumer confidence and the stubborn high inflation environment which is an important driver of reduced discretionary healthcare spending. Secondly, but not an insignificant factor driving us to be conservative in our forecast at this point, is the potential impact of energy supply constraints on our European customers stemming from increased EU government efforts to reduce their dependency on Russian oil and gas supplies. The net effect of any such effort, which looks increasingly probable, will be further dampening of demand on capital -- or capital investments, particularly in Germany.
One obvious area that influences our secondhand forecast is our dental business, which had previously enjoyed very strong double-digit growth in the U.S. and internationally. Given the current geopolitical tensions, the resurgence of COVID in China and the curtailing of consumer discretionary spending throughout Europe and the U.S., we are projecting slower growth in our dental segment in the second half. We once again view this as transitory is still material in our full year forecast.
As we exited the second quarter and evaluated all of these risk factors, we have updated our forecasts and are now taking a more conservative view of our projected full year performance, all of which is reflected in our updated full year guidance that Wayne will discuss in a few moments. While we are disappointed in having to take this step, we are doing so out of out of an abundance of caution and in the spirit of transparency to our investors. I can assure you we don't take this decision lightly and you have my commitment that will work hard to the balance of this year to regain momentum in our financial performance that we have built over the last two years. Actions we are taking include a variety of steps to optimize our cost structure, improve the efficiency of our operations, and refine our technology portfolio to assure exciting and profitable growth in the years ahead.
Reflecting this focus on operational efficiencies, in July, we took a major step forward by transitioning the sourcing and manufacturing activities for much of our polymer-based printers in-house and terminating our agreement with a major contract manufacturer. In sourcing these high-tech, high mix low volume printer platforms took months of planning and required us to incur some upfront exit and inventory costs. But over time, we believe this approach gives us much better control of our critical supply chain elements, resulting in reduced manufacturing costs, improved inventory management, and improved customer-facing metrics such as quality and delivery performance. This step in combination with our new product design efforts is a key element in delivering higher gross margin performance, the goal of which is to exceed 50% in the years ahead.
We have additional efficiency actions in flight. And we will update you on our progress as we move through the year. Before I end my remarks and hand over to Wayne, I want to comment on important progress and collaborations between 3D Systems and what I believe are two of the most world's most innovative technology partners. First, in June, our longtime biotechnology development partner, United Therapeutics, announced that in close partnership with 3D Systems, they have successfully printed the most complex objects ever produced by mankind, a complete human lung scaffold, consisting of over 4,000 kilometers of pulmonary vasculature and airways, with wall thicknesses measured in fractions of the diameter of a human hair.
The complexity and precision that we have now demonstrated using biocompatible materials and our most advanced production printing platform technology is truly groundbreaking and represents a key milestone in our regenerative medicine efforts. In the first unveiling of this incredible capability, United Therapeutics' president and CEO, Dr. Martine Rothblatt and 3D Systems' founder and chief technology officer for regenerative medicine, Chuck Hull, appeared at the CNN-sponsored LIFE ITSELF conference hosted by Dr. Sanjay Gupta and Marc Hodosh.
In her presentation, Dr. Rothblatt declared for the first time publicly, her vision to have these personalized bio-printed lungs cleared for human trial within five years. With our team's increasing momentum earlier this year, we expanded the scope of our collaboration to include the manufacture of human livers and kidneys. All of these efforts are tied to the singular goal of producing an unlimited supply of fully biocompatible human organs for transplantation to people who need them around the world.
While the goals are ambitious, I believe more than ever with it, we will meet them. And I want to thank Dr. Rothblatt for our vision and an unwavering support in leading us there. With the foundation of progress that we have made in materials, hardware and controlled technologies for printing human organs, which I believe are quite unique in the world, one of my most important goals for 3D Systems has become the building of a world class regenerative medicine business around the emerging science of photopolymer based bio-printing.
Building upon the incredible work our teams conducted with United Therapeutics in 2021, we acquired two development companies, Allevi and Volumetric Biotechnologies, in order to bring additional technology and specialized technical skills to our regenerative programs at 3D Systems. Having now integrated these exceptionally talented scientists and engineers, I am extremely pleased with our accelerating progress and committed to this groundbreaking technology, which offers the potential to improve countless lives of people who are suffering from chronic diseases or injuries around the world. With the progress that we have now made and the expanded capacity and capabilities we have in our program, two very exciting adjacent fields of applications have now opened up to us. One is the printing of non-organ human tissue for a wide range of applications within the body.
We are actively working on a targeted subset of these high-value organ and non-organ applications and we will be discussing progress publicly when appropriate. The second application field and one that we believe offers exciting and potentially near-term opportunities, is the printing of vascularized tissue for use of drug discovery. With our ability to now print vascularized tissue that enables very precise predetermined blood flow, while accommodating an enormous range of human cells, including both healthy and diseased cells, the effectiveness of developmental drugs, therapies can rapidly be evaluated in the laboratory. Our goal is to reduce the development time for new drug therapies and over time reduce or even eliminate the need for animal testing.
Given the ongoing exploratory efforts we have underway with leading pharmaceutical companies, we are excited about the potential of this technology and are now investing in both the people and the infrastructure we will need in order to bring this to commercial operation. You can expect to hear more about these efforts later this year. In support of these developmental efforts, we are also now putting in place for the first time in our company's history, a medical advisory board to provide input on each of our regenerative medicine programs. Under the leadership of Dr.
Stephen Klasko, a recognized visionary leader in the global healthcare community, in the second quarter, we were pleased and honored to announce the appointment of the honorable Dr. David Shulkin, former secretary of veterans affairs, and more recently, the Honorable Alex Azar, former secretary of health and human services, and a recognized leader in the pharmaceutical industry. This distinguished group of advisors, along with additional members, soon to be named, will play an important role in our development and commercialization of these remarkable new products. In addition to the progress we are making in regenerative medicine, we were very excited to announce this week an agreement to acquire dp polar, the Germany-based developer of the industry's first additive manufacturing system, designed for true high-speed mass production of customized components.
dp polar's technology is truly pathbreaking. It features multiple fixed printing heads and a rotating build platform that enables continuous high-speed 3D printing at industrial scale. Among its many unique features, it can embed objects such as sensors, electronics, or magnets into printed parts by using inline robotic pick and place capability, with its ability to achieve production speeds up to five times higher than traditional batch process printing platforms, which represent the standard in the industry today. This novel technology opens up many new exciting high volume applications for the future.
We are extremely excited to join forces with dp polar at this pivotal time for additive manufacturing, when interest in production scale applications is rising fast. While their machine is still in beta testing and therefore the acquisition will not benefit our near-term results, dp polar's technology is an ideal fit with 3D Systems' broad portfolio of polymer materials and production-focused software systems. We believe that integrating this platform with our existing industry leading solution set will drive its rapid adoption into a wide range of high-speed automated production environments. In summary, I want to emphasize that despite near-term headwinds that are challenging our results this year, we remain confident in our long-term outlook, the targets we laid out at our investor day in May.
With a strong balance sheet and a disciplined approach to running our business, we will continue to look for ways to invest strategically for long-term growth with a focus on key healthcare and industrial markets. With that, I'd like to turn the call over to Wayne who will describe our second quarter financial results and our 2022 guidance revision in more detail. Wayne?
Wayne Pensky -- Interim Chief Financial Officer
Yes. Thanks, Jeff. Good morning, everyone. We had three significant divestitures in 2021 as we discussed the non-GAAP measures from the tables we presented in last night's earnings release and as was discussed today, we excluded from the 2021 results the impact of the divestitures.
We did this to make the 2022 results comparable to the 2021 results. As Jeff discussed, revenue for the quarter did not meet our expectations due to three factors: the strengthening of the U.S. dollar, persistent supply chain issues, and geopolitical factors such as the Russia-Ukraine war. Revenue for the second quarter was $140 million, a decrease of 13.8% compared to the prior year.
Excluding divestitures, revenue increased 3.2% and on a constant currency basis, revenue increased 7.8% compared to the prior year. This top line growth reflects continued solid demand in both our healthcare industrial segments and demonstrates our ability to grow the business against the very challenging background of supply chain macroeconomic and geopolitical pressures. Just to put dollars behind the three factors, nearly $6 million of this impact was attributable to the sharp appreciation of the U.S. dollar that occurred during the second quarter and reduced the U.S.
dollar value of our international sales made in different currencies, which typically represent about 40% of our total sales. In the second quarter of last year, we had approximately $4 million of sales in Russia that did not repeat in the second quarter this year, because we exited the Russian market. If we exclude Russia sales from 2021, then our adjusted growth rate is 11.3%. Finally, supply chain issues in particular component shortages prevented us from filling more than $9 million of firm customer orders.
By way of comparison, in the first quarter of 2022, we are unable to ship approximately $7 million of customer orders because of supply chain issues. Jeff discussed a few of the actions we are taking to reduce these late shipments. Looking at the first half of the year, revenue excluding divestitures grew 6.5% year-over-year to $273 million. And on a constant currency basis, first half revenue grew 10.4%.
So even in a very challenging operating environment, we were able to achieve double-digit year-over-year growth in the first half of 2022. In the second quarter, we had a loss per share of $0.26 compared to a loss per share of $0.08 in the second quarter of 2021. The current quarter includes $11 million non-recurring charge or $0.09 per share for certain estimated legal costs and other settlements. The divestitures had contributed $0.05 of earnings to last year's second quarter.
Our non-GAAP loss per share in the second quarter was $0.07 compared to non-GAAP earnings per share of $0.06 in the second quarter of 2021. The year-over-year decline reflects inflationary impacts on input cost -- impacts from acquired businesses as most are in development stage are just beginning commercialization and continued growth-oriented investments in R&D, including to enhance our product portfolio and improve our corporate infrastructure. Our revenue, excluding divestitures on a constant currency basis for our healthcare segment, increased 4.7% and our industrial segment revenue increased by 11.2% as compared to the second quarter of last year. The healthcare growth was fairly consistent across all markets and products.
Softer discretionary spending likely limited growth in end markets such as dental and elective surgeries. Our industrial revenue growth was driven by continued strength in precision micro casting applications such as jewelry, by demand for production machines for aerospace applications, by continued pull-through materials by our significant installed base of printers. Partially offsetting the sales growth industrials are exited from the Russian market, weaker machine and materials sales in Europe due to macroeconomic concerns and to China due to COVID-related lockdowns and supply chain disruptions. Our gross profit margin was 37.9%, compared to 42.4% in the prior year.
Gross profit margin was lower due to multiple factors, including the 2021 divestitures of non-core assets. The input cost and freight inflation that was in an effect of what we are able to pass through to customers by way of price increases and manufacturing variances within certain of our contract manufactured products. We also saw small impacts on gross margin due to mix effects of selling more printers and less materials than the prior year. As reflected in our revised guidance, we expect gross margins to remain steady as we move through the year through the continued impacts of inflation on input costs.
Our operating expenses increased 7.7% to $85 million in the second quarter of 2022 compared to the same period a year ago. This includes the $11 million non-recurring charge previously discussed. On a non-GAAP basis, operating expenses were $60.9 million as compared to $48.9 million from the same period a year ago. The higher non-GAAP operating expenses reflect spending in target areas to support future growth.
But half this increase is due to expenses from recently acquired businesses, while the remainder reflects increased research and development costs to refresh and enhance their product portfolio and investments to strengthen our corporate infrastructure. Adjusted EBITDA defined as non-GAAP operating profit plus depreciation was a negative $2.6 million for the second quarter compared to $12.9 million for the second quarter of 2021. The year-over-year decline in adjusted EBITDA margin reflects all the factors that we have previously discussed. We now turn to the balance sheet.
We ended the quarter with $638 million of cash and short-term investments on hand. Our cash and short-term investments declined approximately $151 million since the end of last year, driven primarily by $83.3 million paid for acquisitions and equity investments cash used in operations of $38.2 million and capital expenditures of $10.4 million. We continue to have a strong balance sheet with sufficient cash to support organic growth, including in regenerative medicine. As previously stated, we regard 2022 as an investment year during which we will make additional targeted investments in high potential growth areas of our business and in our corporate infrastructure as part of our overall strategy to profitably grow revenue in both the healthcare and industrial segments.
After we complete the acquisition of dp polar that Jeff discussed, we will likely take a pause in acquisitions to make sure we focus on execution and fully integrate the recent acquisitions we have made. Nonetheless, we will always remain alert for any game-changing investments. In 2021, we began providing guidance on full year non-GAAP gross profit margins. And in this year, we expanded our guidance to include revenue and non-GAAP operating expenses.
Given our lower than expected performance in the second quarter combined with a challenging macroeconomic environment we have received for the second half of the year, we are revising our full year 2022 guidance. We now expect revenue be within a range of $530 million to $570 million, which reflects an estimated $20 million of negative foreign exchange impact for the full year as well as additional negative impacts from reduced spending in selected end markets, such as dental, elective surgeries and international manufacturers caused by the challenging environment. We now expect non-GAAP gross margins to be in the range of 39% to 41% to the reasons mentioned earlier. We are narrowing the range of our non-GAAP operating expenses to be between $245 million to $250 million.
This revised 2022 guidance assumes no significant additional changes in the macroeconomic environment that could negatively impact business demand or disrupt our supply chain, such as COVID, geopolitical events or foreign exchange volatility. I will now turn it back to Jeff before we transition to Q&A.
Jeff Graves -- Chief Executive Officer
Thanks, Wayne. Before Wayne and I take your questions, I'd like to add one more additional comment. As you likely saw last week, we announced that Michael Turner will join 3D Systems as our new chief financial officer at the end of this month. I am delighted to have Michael join our team.
He is an accomplished financial executive with a strong technical background, is ideally suited to lead our finance and accounting function. I encourage all of you to connect with Michael after his arrival, introduce yourselves and get to know him as you wish. I'd like to also take this opportunity to thank my colleague and good friend Wayne Pensky for so ably serving as our interim CFO for these last several months. Wayne will be staying on for a while to ensure that Michael has a smooth transition into his new role, then we will be returning to his well-deserved retirement.
So Wayne, thank you very much for all you have done for us. So, Kevin, I think we can now open up the line for questions.
Questions & Answers:
Operator
Certainly. [Operator instructions]. Our first question today is coming from Greg Palm from Craig-Hallum Capital Group. Your line is now live.
Greg Palm -- Craig-Hallum Capital Group -- Analyst
Yes, good morning. Thanks for taking the questions here. I wanted to first dig into the guidance a bit, because last quarter when you provided guidance, you talked about demand outstripping your ability to fulfill. So, I guess if we think about the reduction for the second half, how much is incremental FX headwinds relative to where we were last quarter? Was that the $20 million? How much if any, is additional supply chain challenges that you are now running into and how much is true demand falling off? And I guess of the demand anyway, you can breakout more specifically the impacts across the various end markets or geographies?
Wayne Pensky -- Interim Chief Financial Officer
So with respect to FX, you are correct that the $20 million is the difference between what we did last guidance versus this guidance. With respect to supply chain, I wouldn't view that really as a factor in terms of changing our guidance, while we didn't assume any improvement, we didn't assume it was going to get any worse. So I wouldn't view supply chain as the factor for reducing the guidance. The rest is really about this slower demand in the end markets, primarily dental and then the rest of if you think about what's happening in Europe in terms of slowdown of our customers, in terms of their ability to manufacture that everybody is taking a pause, their inventories probably went up in the past, they are probably trying to manage that inventory down and they are much more cautious about their own outlook.
Jeff Graves -- Chief Executive Officer
Greg, it's very much what you would see in the newspaper everyday. If people are having to spend more money on gas and food and basically, they are cutting back on certainly on discretionary items, which is particularly impacting the dental industry. So that was -- that's a major second half effect for us as we -- as that rolls through the supply chain. And again, we view that as temporary that the outlook for that business is quite strong.
But undoubtedly, it's going to -- it's projected to have an effect in the second half of the year, hopefully with inflation peaking soon that will start rolling back, but it's prudent at this point to assume it just lasts throughout the year and we go on. The other effect clearly is with COVID spiking up in different parts of the country in the world, it's nudged out the treatment in hospitals for COVID patients has nudged out discretionary operations, especially around orthopedics. So, that outlook has flowed somewhat to and it's much like the initial spike in COVID did back in late '20 and early '21. So we would expect it to be transitory and somewhat highly transitory.
But you just don't know how many of those variants are still out there. So, instead of looking at a quarter by quarter, which we will continue to do, we just assumed this condition lasts throughout the year and we updated our guidance.
Greg Palm -- Craig-Hallum Capital Group -- Analyst
That's helpful. I mean, Jeff, presumably, the dental that you are alluding to, is more of the big projects type stuff. I mean, do you have any visibility into whether that's just getting pushed out to next year or is it unclear still at this point?
Jeff Graves -- Chief Executive Officer
Yes, I think the demand is going to -- just my opinion, Greg, demand is going to remain for those products if they are very popular. And I think people are just having to make short-term decisions, with gas and food becoming so expensive and I use that symbolically, I think everything is becoming more expensive. People have had to just put off things that are truly discretionary, but still highly valued. So all the feedback we get is that it's temporary and it will pass the growth outlook back, if you listen to that customer base, which they are public companies, you can listen to them.
What they say is, their long-term outlook is still for very strong double-digit growth and the numbers I've heard are 20% to 30%, they talk about publicly, but for this year, it's been ratcheted back to low double-digits, high single-digits and that ripples through the supply chain. So there we see no other indications that they are planning for long-term dampening. I mean all of the other discussion and things are all around continued strong growth. It's a very short-term factor.
Greg Palm -- Craig-Hallum Capital Group -- Analyst
Understood. And I guess last one I mean just in light of everything going on, it's surprising that you are raising your opex guide. I mean, I guess, going forward, how should we think about investments on a go forward basis as we get into next year and beyond?
Jeff Graves -- Chief Executive Officer
No, it's good questions, Greg. It's funny when challenging economic environments hit, I think historically, you see companies do one of two things. Obviously, everybody becomes more prudent and they watch their spending. But for folks with a stronger balance sheet, I think you see them saying, look, some of the weaker competitors in our space are going to really struggle in this environment.
They weren't built for short-term headwinds. And with our scale and our balance sheet coming into the year, we were very well equipped to deal with a downturn and continue investments. So we are able to pickup talent, we are able to pickup I look at this dp polar group an outstanding group of people that small companies struggle in these environments, because they have to rely on longer term revenue projections and that becomes more variable and they burn through their cash. So in essence, for bigger companies like ours with a strong balance sheet, it gives us an opportunity to really kind of double down and say we are going to come out of this really strong.
And when you look at our infrastructure investments, if you make the assumption, you are coming out of the strong you better have the infrastructure to support the growth. So that's why we are maintaining the infrastructure investments we are making. So now, I won't tell you we are not looking at all of them and we are cutting back where we can and we are managing through our costs. We definitely are.
We are going to run a good business. We believe in running a profitable cash generating business. But there are certain periods of time where you have an opportunity to really move ahead. And I think that's us right now.
If you look at regenerative medicine, which are a really organic investments at this point and you look at this high-speed production process that dp brings us, those types of investments really pay dividends in the long-term if you can maintain them. So, while everybody is struggling, it's our chance now to really kind of kind of push ahead.
Greg Palm -- Craig-Hallum Capital Group -- Analyst
OK, good. Alright. Well, best of luck going forward. Thanks.
Jeff Graves -- Chief Executive Officer
Thanks, Greg.
Operator
Thank you. Next question is coming from Troy Jensen from Lake Street Capital. Your line is now live.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Hey, gentlemen. Thanks for taking my question. Maybe to follow-up on Greg's question line here. Supply constraints, it seems like it's been three or four quarters now that Wayne and Jeff talked about $68 million of demand that you guys can fulfill.
And to me, you guys will be building a big backlog with these orders that you can't ship. So you factor that in with just kind of the reduce -- the reduction of about $50 million in revenues with a growing backlog. I just wonder if you kind of touch on what's happening to these orders and is the backlog in visibility improving at all?
Jeff Graves -- Chief Executive Officer
I see this, an insightful question, Troy, as always. Yes, so backlog is building, there is no doubt about it. And we don't usually talk about those numbers. But there is no doubt about a backlog's building, we were able to -- we left more on the table in Q2 than we did on Q1.
And we don't want to use that as an excuse in the second half, because I do think that things are going to plateau and then get better. But we thought the second half would be significantly better when we enter the year. And at this point, we are going to wait until the data says it is better to really talk about it. So in terms of the durability of orders, when you push orders out, obviously there is a fraction of people that could -- that may choose to cancel.
But by and large, we are not seeing any diminishing of demand. Folks are willing to wait for product. And part of our move in manufacturing Troy to bring our largest contract manufacturer operation back in-house is we really believe we can better control it and meet our delivery commitments and manage our supply chain. It's a big move for us or required a lot of planning.
But especially when times get tougher, you just don't get the attention from the contract manufacturers that you want and it's much better to run it in house. So we are making that move. I think it's a permanent move with a high mix of product that we need to provide to our customers. It's a better way to manage the supply chain.
So, we took a big step in July to bring that in-house. And I think you will see incremental improvements going forward between that and supply chain is truly getting better around the world. I think we will come closer and closer to meeting our growing demand that we see out there.
Troy Jensen -- Lake Street Capital Markets -- Analyst
OK, thank you. Just a follow-up for you Jeff, dp polar, I guess when I think of inkjet, I think more of prototyping. And I think that's because material properties, I believe these machines need to use acrylic materials. So when you talk about a production machine, you are producing molds, right? Was I kind of think indirect production or is it?
Jeff Graves -- Chief Executive Officer
With your background, Troy, particularly appreciate this machine, they have a great -- by the way, if you go to the dp polar website, they have a fantastic YouTube video posted there of the machine. And it demonstrates the technology with their printing technology, their inkjet printing technology it can actually accommodate much more of our current portfolio of materials that are printed. So a lot of our materials will be able to be printable, if not now in the near future. And those heads can be interchanged with other printing technologies.
So you can substitute other printing technologies for those print heads. And they're stationary, which makes it much simpler. And it prints on a rotating platform. So no, no, it's it is particularly geared toward continuous production and high-speed production of products.
Our estimates are, Troy, anywhere from three to over five times more productive for production applications. And the doubly cool thing when you watch the video is you can use pick and place robots to put all electronics or magnetics within the component is printed, which is really gives you another capability with 3D printing that you don't have in the current batch processes.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Can you do multiple materials?
Jeff Graves -- Chief Executive Officer
Yes, you can do multi materials. You can build components of all different geometries continuously as you rotate the platform. It is just a fantastic technology and one of the key pieces of IP here, Troy, is the machine intelligence because the spinning platform is spinning base plate is so large, there's a big velocity difference between the inner radius and the outer radius. So the intelligence of the machine to be able to uniformly present across broad -- across through multiple printheads, across a broad radius is really exceptional and they have got -- they've been working at it for several years.
And they've got a great concept that's now been demonstrated and moving into beta ship and phase now.
Troy Jensen -- Lake Street Capital Markets -- Analyst
Got you. Alright, Jeff. Well, thank you for that info and good luck on the second half.
Jeff Graves -- Chief Executive Officer
Thanks, Troy.
Operator
Thank you. Next question today is coming from Ananda Baruah from Loop Capital. Your line is now live.
Ananda Baruah -- Loop Capital Markets -- Analyst
Hey, guys, good morning, I really appreciate you taking the taking the questions. A couple if I could, just sort of going over going back to sort of the commercial context, what you guys talked about reduced visibility from selling to your customers? Are you also yet seeing a meaningful demand impact from those votes? Are you just sort of getting the softer signals that the visibility is being reduced?
Jeff Graves -- Chief Executive Officer
No, it's there's a concrete false in demand, I'd say it's still positive, there's still demand out there. But it's definitely a lower rate of demand growth, the second half than we had originally modeled. And what they attribute that to which they pass on to us is, customers are really struggling, their customers are struggling because they're having to spend more on the basics of life than they are in for example, in improving their smiles, things that are truly optional. And there's sad extensions to that, too.
And orthopedics were procedures that are labeled optional, are often very painful for patients, and they really would like to take care of them. But hospitals have been managing their capacity. With COVID, they don't want to overcommit their capacity. So they've discouraged optional procedures.
And we factor that into our second half planning. So, both of those factors impact our healthcare business. And we view both of them very much not as transitory. But I'm tired of waking up every morning saying, it's going to get better next quarter.
And at this point, I think we just said, well, we'll project it through the end of the year. And hopefully, it'll be better than that. But I think it's a good time to be conservative and just say, these, these pressures are going to be for the full year.
Ananda Baruah -- Loop Capital Markets -- Analyst
It's the right thing. I mean, investors are going around see the guidance lowered anyway. At some point, maintaining the guide probably would just be a headwind to the stock. I mean, you don't like to see this move today in the stock.
But, it would be a headwind to participation at some point. So it's a wise thing to do, Jeff, is to debit balance. And on the, I guess, on the non-consumer adjacent, kind of verticals, let's say you're trying to manufacture verticals, what's the context is there at this point?
Jeff Graves -- Chief Executive Officer
Yes. So I think, supply chains around the world are trying to catch up. And you probably see this in your personal life. And certainly, if you've gone out to buy a car recently, or even a spare part for a car, I don't place a fuel pump the other day, and it had to be shipped from Germany.
And it took weeks and things that used to take days take weeks. So I think supply chains on the industrial base worldwide are still playing catch up. So there's really nice demand and with one exception, I'll tell you that there's really nice demand in the industrial environment, because our customers are looking to bring manufacturing closer to home over time. And they want more flexibility, if they're going to do it, they want more automation, they want more flexibility, they want a lower cost.
So it gives him an opportunity for 3D printing to really move in there and demonstrate his capability in production environments. So that's good, that's really a good tailwind to have. The one area in the world that's problematic that is Europe and particularly Germany, which is an industrial powerhouse. The outlook they have and the concerns they have around the Russian energy supply has caused the government to send signals to watch industrial production, potentially cut back in certain industries and parts.
And if you follow their announcements, the German industrial firms, you are worried about that, because come winter time, they need the energy. And companies consume a lot of energy. So, they are trying to cut back early, store energy. And I think that's led to an overall concern about capital investment in that part of the world.
And again, if the war is a tragedy on many fronts, I hope and pray it lifts soon. But I think that's yet a coming risk for everyone. And we have factored that into our guidance. And looking forward, it's hard to estimate, but we factored it in and said, look, we think Europe could get weaker, not stronger over time, due to energy and the war.
So, again, hopefully they will find a solution and a good outcome there. But I think it's prudent to just have a wait and see attitude.
Ananda Baruah -- Loop Capital Markets -- Analyst
That's helpful context. Thanks, Jeff. [Inaudible] there. Thanks so much.
Jeff Graves -- Chief Executive Officer
Thanks, Ananda.
Operator
Thank you. Our next question is coming from Wamsi Mohan from Bank of America. Your line is now live.
Jeff Graves -- Chief Executive Officer
Good morning, Wamsi.
Unknown speaker
Hi. Thanks for taking the questions. It's actually John on behalf of Wamsi. Just wanted to quickly touch up on gross margin.
I know the full year guide, midpoint around 40% implies slight improvement in the margin trajectory in the second half. So, just wondering what might be driving that improvement? And when do you expect these headwinds of consumer spending or supply chain constraints to gradually recover?
Jeff Graves -- Chief Executive Officer
You take the first one, Wayne. I will take the second one, which will be pure speculation.
Wayne Pensky -- Interim Chief Financial Officer
With respect to the margin outlook, that point on 40%, that's not terribly different than how we did in the first half of the year. And so I think we need to do a little bit better on one, passing our price increases, and secondly, just in terms of the input costs going up. So, it assumes a slight improvement there, but not a huge amount or huge improvement.
Jeff Graves -- Chief Executive Officer
And in terms of when things will get better. We came into the year with just the base assumption, I think we were very transparent about this that supply chain issues, which impact our gross margins, were going to be a struggle through the first half of the year, and then they would improve in the second half. I think as we exit Q2, the number of risk issues in the world has probably increased versus the beginning of the year. And as we look at -- in the second half, we just thought, it's prudent not to really speculate on when things will get a lot better.
Let's just assume it stays basically the same and projected through the end of the year now. And I do think by '23, there is a good chance that supply chains have straightened themselves out. We do see evidence. And you would be probably see this in common everyday things of going to restaurants and things that the world is returning toward normal, but there is a lot of training.
Within a restaurant this weekend, there is typically a lot of training opportunities for new people that are taken jobs. And I think every company is working their way through that. And that will happen in the second half. And I think '23 will be better.
But at this point, when we are only dealing with '22 guidance, we say, let's just assume everything stays as tough as it is now for the rest of the year. And I think that's a prudent position to take, and that's what we have done.
Unknown speaker
Got it. And a quick follow-up if I may. Just curious, are you seeing the slowdown more related to the system side or the consumables?
Jeff Graves -- Chief Executive Officer
Very good question. So, it depends on the market and the place in the world. In the -- it's a very interesting question, actually. And most of our customers look through this downturn period.
And they say, OK, let's watch inventories, let's cut down on consumable materials to kind of run leaner. I think in the first half, we probably saw people building because they thought the second half was going to be strong. So they built inventory, supply chains were disrupted. It caused everybody to add inventories.
I think in the second half here, we are seeing people be a little bit more prudent, if you would, and managing their inventories or cash position, make sure they don't have too much on hand. So I would tell you consumables in the second half, we are projecting as probably a bit softer than we are probably -- and Wayne correct me on this. But I think it's consumables in the second half will probably projecting to be to be softer. They are certainly softer than we would have originally imagined.
In the first -- yes, that is softer than the first half. And then on the -- but on the capital side, on new printers and things, we see that demand remaining strong, basically across the market. So, that tells you really basically customers are looking through this and saying, I am going to need the printing capacity, but I may not need the consumables right now in the next couple of quarters. So, it hurts our mix.
But it does encourage you that the long-term you are installing more printers, there is more -- going to be more consumption of consumables including materials and software in the long-term, because the capacity will be out there. So, that it's a -- that's a good question and thanks for asking it. Any other color on that, Wayne?
Wayne Pensky -- Interim Chief Financial Officer
Generally speaking, in our forecasts the second half is about the same in sales in the first half.
Jeff Graves -- Chief Executive Officer
Yes. That originally we projected it up with a richer mix, OK?
Unknown speaker
OK. Understood. Thank you.
Operator
Thank you. Next question is coming from Brian Drab from William Blair. Your line is now live.
Brian Drab -- William Blair and Company -- Analyst
Hi. Thanks for taking just a couple of quick questions here. In the second half of the year, do you expect the typical, I know it's hard to forecast anything right now? But are you portraying typical seasonality in the fourth quarter with revenue from the third quarter?
Jeff Graves -- Chief Executive Officer
Yes. Typically, Brian, as you know, from falling, there is usually a bump in the fourth quarter. It's a little bit stronger going into end of the year. I would just encourage you though to -- if any years going to be watered down, I think this year will be, I wouldn't expect there to be -- we are not expecting a huge change quarter-to-quarter.
If anything, there may be a slight shift toward Q4 over Q3. Is that fair?
Brian Drab -- William Blair and Company -- Analyst
Yes, it's pretty minor. If you look in the prior years, fourth quarter had a much more noticeable bump than we are forecasting right now.
Jeff Graves -- Chief Executive Officer
Right. Fourth quarters weighs away. I mean we could still get it. But again, Brian, we took the approach this time of let's just assume the world just kind of stays like it is now for the rest of the year.
So, that's in terms of building a model that's where our favorite, so -- for this year.
Brian Drab -- William Blair and Company -- Analyst
Alright. OK. And you gave the industrial and healthcare change in revenue year-over-year, I may have missed it. But did you tell us what dental was either up or down year-over-year in the second quarter?
Wayne Pensky -- Interim Chief Financial Officer
We did not.
Jeff Graves -- Chief Executive Officer
We didn't put that out there, Brian. We didn't put that out there.
Wayne Pensky -- Interim Chief Financial Officer
Look, if you look at for the first half dental, for the first half was about the same as the prior year. And if you look out for the guidance for the second half that will be lower second half than it was in the first half.
Brian Drab -- William Blair and Company -- Analyst
OK. Alright. Thanks.
Wayne Pensky -- Interim Chief Financial Officer
That really goes back to Jeff's comments about, a little -- as they are forecasting their own growth. If they over-forecasted previously, and drop it down now, they probably need less printers, and a little bit of consumption of less materials.
Jeff Graves -- Chief Executive Officer
That's just it, Brian. I think they came into the year assuming their growth rates were going to be consistent with prior year growth rates. And so they were anyway building fast. So, I think they have certainly seen a drop off in their demand due to discretionary spending issues.
And that's rippled through the supply chain. So, there was a clearly an effort to manage inventory on their part. And in the face of softening demand for their products here in the second half. And they have gone out of their way to assure long-term growth rates are, they are maintaining the same guidance.
And I think that's true. But in the short-term is certainly as impactful in the second half.
Brian Drab -- William Blair and Company -- Analyst
Yes. Got it. Understood. OK.
Thanks for that color.
Jeff Graves -- Chief Executive Officer
You're welcome, Brian.
Operator
Thank you. [Operator instructions]. Our next question is coming from Noelle Dilts from Stifel. Your line is now live.
Noelle Dilts -- Stifel Financial Corp. -- Analyst
Hi, there. So, I was hoping that you could expand a little bit on how you have to respond from a production standpoint, when you have say, a slowdown with a large customer in terms of what you are expecting from demand. So, for example, are you going to have to work through some excess inventory here in the back half of the year? And how should we think about that from a cash flow perspective? Thanks.
Jeff Graves -- Chief Executive Officer
Yes. Well, certainly, we did -- we have built inventories. And I will give a little color and Wayne maybe you could comment more from a cash perspective, if we can estimate that. We have built, no doubt, we have built inventory.
No, it's been such a difficult time, to just make sure you have all the components to meet demand in these printers. So, we have undoubtedly built inventory. So, now as things slow down, we have got to manage through that inventory. And I think part of bringing production back in-house for our biggest plants here is I think we can manage our inventories better that way.
And better meet demand as well, by the way. But yes, undoubtedly, there is -- I think we have an opportunity actually in inventory management to generate cash over time, because we have got a lot of inventory. But it's always a challenge, because there is a lot of volatility, if you will, in demand right now across the platforms. So, it probably doesn't help you much.
Wayne Pensky -- Interim Chief Financial Officer
Yes. So, the first half inventories went up about $16 million. As we just sort of reflect how much what Jeff was to say. But as we talked, as Jeff mentioned earlier, we are going to bring some of the manufacturing in-house.
And you will see in the 10-Q that was posted this morning that meant in July, we actually bought another $15 million of inventory. So, inventory that previous was on our books now came our books as part of bringing inventory in-house. Now, we think that number is probably too high. And our goal in life was to work that down a little bit.
But you will see inventory going up just for that reason.
Jeff Graves -- Chief Executive Officer
And a lot of it will happen when the supply chain just becomes more predictable. We have had inventory a lot of extra parts, because you really didn't know what was going to hang up your shipments. So and in Murphy's Law, we hung up more shipments than we did in Q1, that we did in Q2. So you never quite have all the right stuff, eating too much of room one and not enough, another.
So, that will work down, the supply chains get smoother and more predictable. And I think we will be more efficient doing it than we would have been an outsourced model. But it will take a little time. So you will see a bump up and it is listed in the Q, right, see a bump up in the Q, a significant bump up as we took that inventory back on our books from our contract manufacturer.
And I think you will slowly see a bleed off over time, which will be a cash generator for us.
Noelle Dilts -- Stifel Financial Corp. -- Analyst
Great. Thank you.
Jeff Graves -- Chief Executive Officer
Sure.
Operator
Thank you. Next question is coming from Paul Chung from J.P. Morgan. Your line is now live.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Hi. Thanks for taking my question. So, just on the move back to in-house manufacturing, what percent of the portfolio is kind of moving in-house? And where are you moving it? And can you quantify kind of the margin uplift from these actions? And should we expect kind of higher levels of capex kind of moving forward as a result?
Jeff Graves -- Chief Executive Officer
There were several, I see you are meeting Kevin's goal of one question. Now, there is several parts of that question. And they are all good ones, by the way. So one nice thing about this move was the plant is right here in Rock Hill, South Carolina.
So it's very close to our current headquarters, and a lot of our engineers here in town. So we took the lease back over ourselves. We took production back in-house. And so there is some incremental cost with that.
But in general, I think we will manage those costs. We were paying for them anyway to the contract manufacturer with a markup. So I think there will be a -- there should over time be a cost savings there as we drive more efficiency out of that plant, same thing with the inventory. So, it's right here, there is no physical move, frankly, of the production process.
It's us taking over the lease again and really running the plant ourselves. So, there is no move required. Thank goodness, we are not moving products around. An answer to part of your question though, it is a very significant part of our polymer based production.
And it probably approaches half. It's a very big percentage. And hopefully, that will grow over time. Our industry fault, well, I shouldn't -- I can't speak for other companies.
But we offer the broadest range of printing platforms in the industry. It's what our customers want, because they want a large flexibility in solving their application issues. So we offer and as part of our model, we offer the broadest range of printing technologies in the entire industry, from polymers to metals. And we are going to keep that model.
What we are doing to make it more efficient is moving to a modular engineering approach. So we have more commonality between platforms. And we are bringing manufacturing back in-house, because contract manufacturers notoriously are if they are not as efficient with a low-volume high mix product lines, and high tech product lines. So by bringing it back in-house, I think we will do a better job of managing that.
And when you combine it with the move to modular engineering, I think you will see some significant cost reduction over time in our COGS, just due to efficiency of design and manufacturing. But it will take time. Those are usually multi-year efforts. But I would tell you, it's a key part of us getting to 50% gross margins, is improving the gross margin on our printer products.
Did that cover all the pieces of your question, Paul?
Paul Chung -- JPMorgan Chase and Company -- Analyst
Just the capex levels, I assume there is going to be a little bit out there.
Jeff Graves -- Chief Executive Officer
Now, these are assembly operations. So, there is really very little capital involved. Now, we will make some capex investments in IT infrastructure and things to run the plant better. But it's largely an assembly operation.
Wayne Pensky -- Interim Chief Financial Officer
It won't be noticeable.
Paul Chung -- JPMorgan Chase and Company -- Analyst
Yes. Got it. Thank you.
Wayne Pensky -- Interim Chief Financial Officer
You're welcome. Thanks.
Operator
Thank you. Our final question today is coming from Jim Ricchiuti from Needham & Company. Your line is now live.
Chris Grenga -- Needham and Company -- Analyst
Hi, good morning. It's actually Chris Grenga on for Jim. Just wanted to ask, how do you think about the level of SG&A and R&D in the event that demand softens further? And could you talk about some of the levers that you discussed in the prepared remarks that you have to address cost structure efficiencies? Thank you.
Jeff Graves -- Chief Executive Officer
Yes. And that's -- I will say, Chris, that's the art of it. It's how to manage those costs down when you see this conflicting thing of short-term headwinds and long-term demand growth and pretty exciting demand growth, you need to come out of it on the other side ready for that. And so, the desire is to maintain continuity in R&D spending, our SG&A we look at because our G&A costs are high right now.
But a lot of that is geared toward improving our infrastructure and efficiency. So I think you can quite clearly see G&A coming down in future years, but we've got to invest to make sure our foundation is strong, and that we have the platform to support growth, R&D spending, we just -- I'm hoping that we can manage that down over time as well. But I would tell you in this industry, right now, it's a disruptive industry. And you've got to watch, how much you're spending on R&D, because that those production platforms when they hit are going to be very sticky sales.
And that's -- it's going to drive a lot of consumable utilization. So you need to have the platforms in order to meet that demand. And that's one reason we invested in dp polar is we picked up years of R&D work that's been done with a machine that's ready to go to beta customers now, to accelerate that whole process. So I'm not giving you a crisp answer, I want to be very, very selective about R&D spending and make sure we're doing it correctly.
With the leadership we have in place now, I think there's a really nice opportunity to focus and get more out of our R&D spin with modularity and platforms. In terms of bringing the overall spin down, I really don't want to make commitments on that in the long-term, it's – as we grow, they're easier to bear. So the scale really helps. But on $1 basis, we have to be very careful.
G&A I think we can bring down and even sales efficiency, we can bring down over time with scale, with the scale we have, the G&A particularly I think we can breakdown in future years. Wayne, anything you want to add?
Wayne Pensky -- Interim Chief Financial Officer
Yes, I guess the only thing I'd add, we've with dp polar, that will make our seventh acquisition a little over last year. And each of those comes with a little bit of SG&A and R&D costs. And so we've added those into the mix. And the most of them are early stage development companies or early stage of commercialization.
We're not yet bringing in a lot of revenue. So as those guys progressed, we'll get a little bit more leverage from those in the interim, we just need to manage them as best we can.
Jeff Graves -- Chief Executive Officer
Is that answered you question?
You got it.
Chris Grenga -- Needham and Company -- Analyst
Sure thing. Thank you. Yes. Thank you.
Operator
Thank you. We reached the end of our question-and-answer session. I'd like to turn the floor back over to Dr. Graves for any further closing comments.
Jeff Graves -- Chief Executive Officer
Thanks, Kevin. So thank you all for joining the call this morning. We look forward to updating you again on our business next quarter. And we wish you all a great day.
Thank you.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Russell Johnson -- Vice President, Treasurer, and Investor Relations
Jeff Graves -- Chief Executive Officer
Wayne Pensky -- Interim Chief Financial Officer
Greg Palm -- Craig-Hallum Capital Group -- Analyst
Troy Jensen -- Lake Street Capital Markets -- Analyst
Ananda Baruah -- Loop Capital Markets -- Analyst
Unknown speaker
Brian Drab -- William Blair and Company -- Analyst
Noelle Dilts -- Stifel Financial Corp. -- Analyst
Paul Chung -- JPMorgan Chase and Company -- Analyst
Chris Grenga -- Needham and Company -- Analyst
More DDD analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool recommends 3D Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (NYSE: DDD) Q2 2022 Earnings Call Aug 09, 2022, 8:30 a.m. Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasurer, and Investor Relations Jeff Graves -- Chief Executive Officer Wayne Pensky -- Interim Chief Financial Officer Greg Palm -- Craig-Hallum Capital Group -- Analyst Troy Jensen -- Lake Street Capital Markets -- Analyst Ananda Baruah -- Loop Capital Markets -- Analyst Unknown speaker Brian Drab -- William Blair and Company -- Analyst Noelle Dilts -- Stifel Financial Corp. -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Chris Grenga -- Needham and Company -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. To reinforce the message we have stated previously, with the increasing adoption of additive manufacturing and production environments across both our healthcare and industrial customer base, we anticipate delivering solid double-digit annual revenue growth once these shorter term headwinds subside.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasurer, and Investor Relations Jeff Graves -- Chief Executive Officer Wayne Pensky -- Interim Chief Financial Officer Greg Palm -- Craig-Hallum Capital Group -- Analyst Troy Jensen -- Lake Street Capital Markets -- Analyst Ananda Baruah -- Loop Capital Markets -- Analyst Unknown speaker Brian Drab -- William Blair and Company -- Analyst Noelle Dilts -- Stifel Financial Corp. -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Chris Grenga -- Needham and Company -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3D Systems (NYSE: DDD) Q2 2022 Earnings Call Aug 09, 2022, 8:30 a.m. With me on today's call are Dr. Jeffrey Graves, president and chief executive officer; Wayne Pensky, interim chief financial officer; and Andrew Johnson, executive vice president and chief legal officer.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasurer, and Investor Relations Jeff Graves -- Chief Executive Officer Wayne Pensky -- Interim Chief Financial Officer Greg Palm -- Craig-Hallum Capital Group -- Analyst Troy Jensen -- Lake Street Capital Markets -- Analyst Ananda Baruah -- Loop Capital Markets -- Analyst Unknown speaker Brian Drab -- William Blair and Company -- Analyst Noelle Dilts -- Stifel Financial Corp. -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Chris Grenga -- Needham and Company -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3D Systems (NYSE: DDD) Q2 2022 Earnings Call Aug 09, 2022, 8:30 a.m. With me on today's call are Dr. Jeffrey Graves, president and chief executive officer; Wayne Pensky, interim chief financial officer; and Andrew Johnson, executive vice president and chief legal officer.
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Operator [Operator signoff] Duration: 0 minutes Call participants: Russell Johnson -- Vice President, Treasurer, and Investor Relations Jeff Graves -- Chief Executive Officer Wayne Pensky -- Interim Chief Financial Officer Greg Palm -- Craig-Hallum Capital Group -- Analyst Troy Jensen -- Lake Street Capital Markets -- Analyst Ananda Baruah -- Loop Capital Markets -- Analyst Unknown speaker Brian Drab -- William Blair and Company -- Analyst Noelle Dilts -- Stifel Financial Corp. -- Analyst Paul Chung -- JPMorgan Chase and Company -- Analyst Chris Grenga -- Needham and Company -- Analyst More DDD analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. 3D Systems (NYSE: DDD) Q2 2022 Earnings Call Aug 09, 2022, 8:30 a.m. I think in the second half here, we are seeing people be a little bit more prudent, if you would, and managing their inventories or cash position, make sure they don't have too much on hand.
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Pre-market Movers: CRMD, GDRX, QBTS, NVAX, VRNA…
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https://www.nasdaq.com/articles/pre-market-movers%3A-crmd-gdrx-qbts-nvax-vrna...
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(RTTNews) - The following are some of the stocks making big moves in Tuesday's pre-market trading (as of 07.15 A.M. ET).
In the Green
GoodRx Holdings, Inc. (GDRX) is up over 39% at $10.82 DPCM Capital, Inc. (QBTS) is up over 36% at $13.64 Verona Pharma plc (VRNA) is up over 29% at $9.01 Lemonade, Inc. (LMND) is up over 12% at $28.26 Desktop Metal, Inc. (DM) is up over 12% at $2.91 Solo Brands, Inc. (DTC) is up over 11% at $6.14 Dynagas LNG Partners LP (DLNG) is up over 9% at $3.50 ShockWave Medical, Inc. (SWAV) is up over 8% at $240.00 Energy Vault Holdings, Inc. (NRGV) is up over 8% at $5.34 Equinox Gold Corp. (EQX) is up over 7% at $4.48
In the Red
CorMedix Inc. (CRMD) is down over 53% at $3.49 Novavax, Inc. (NVAX) is down over 31% at $39.20 Turtle Beach Corporation (HEAR) is down over 30% at $9.70 Magic Empire Global Limited (MEGL) is down over 19% at $94.69 Community Health Systems, Inc. (CYH) is down over 16% at $3 CarGurus, Inc. (CARG) is down over 15% at $21.84 3D Systems Corporation (DDD) is down over 13% at $11.40 DermTech, Inc. (DMTK) is down over 11% at $7.48 Trex Company, Inc. (TREX) is down over 10% at $57.00 PennantPark Floating Rate Capital Ltd. (PFLT) is down over 7% at $12.24 ESS Tech, Inc. (GWH) is down over 7% at $3.83 Oppenheimer Holdings Inc. (OPY) is down over 6% at $35.00
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the Green GoodRx Holdings, Inc. (GDRX) is up over 39% at $10.82 DPCM Capital, Inc. (QBTS) is up over 36% at $13.64 Verona Pharma plc (VRNA) is up over 29% at $9.01 Lemonade, Inc. (LMND) is up over 12% at $28.26 Desktop Metal, Inc. (DM) is up over 12% at $2.91 Solo Brands, Inc. (DTC) is up over 11% at $6.14 Dynagas LNG Partners LP (DLNG) is up over 9% at $3.50 ShockWave Medical, Inc. (SWAV) is up over 8% at $240.00 Energy Vault Holdings, Inc. (NRGV) is up over 8% at $5.34 Equinox Gold Corp. (EQX) is up over 7% at $4.48 In the Red CorMedix Inc. (CRMD) is down over 53% at $3.49 Novavax, Inc. (NVAX) is down over 31% at $39.20 Turtle Beach Corporation (HEAR) is down over 30% at $9.70 Magic Empire Global Limited (MEGL) is down over 19% at $94.69 Community Health Systems, Inc. (CYH) is down over 16% at $3 CarGurus, Inc. (CARG) is down over 15% at $21.84 3D Systems Corporation (DDD) is down over 13% at $11.40 DermTech, Inc. (DMTK) is down over 11% at $7.48 Trex Company, Inc. (TREX) is down over 10% at $57.00 PennantPark Floating Rate Capital Ltd. (PFLT) is down over 7% at $12.24 ESS Tech, Inc. (GWH) is down over 7% at $3.83 Oppenheimer Holdings Inc. (OPY) is down over 6% at $35.00 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. (RTTNews) - The following are some of the stocks making big moves in Tuesday's pre-market trading (as of 07.15 A.M. ET).
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In the Green GoodRx Holdings, Inc. (GDRX) is up over 39% at $10.82 DPCM Capital, Inc. (QBTS) is up over 36% at $13.64 Verona Pharma plc (VRNA) is up over 29% at $9.01 Lemonade, Inc. (LMND) is up over 12% at $28.26 Desktop Metal, Inc. (DM) is up over 12% at $2.91 Solo Brands, Inc. (DTC) is up over 11% at $6.14 Dynagas LNG Partners LP (DLNG) is up over 9% at $3.50 ShockWave Medical, Inc. (SWAV) is up over 8% at $240.00 Energy Vault Holdings, Inc. (NRGV) is up over 8% at $5.34 Equinox Gold Corp. (EQX) is up over 7% at $4.48 In the Red CorMedix Inc. (CRMD) is down over 53% at $3.49 Novavax, Inc. (NVAX) is down over 31% at $39.20 Turtle Beach Corporation (HEAR) is down over 30% at $9.70 Magic Empire Global Limited (MEGL) is down over 19% at $94.69 Community Health Systems, Inc. (CYH) is down over 16% at $3 CarGurus, Inc. (CARG) is down over 15% at $21.84 3D Systems Corporation (DDD) is down over 13% at $11.40 DermTech, Inc. (DMTK) is down over 11% at $7.48 Trex Company, Inc. (TREX) is down over 10% at $57.00 PennantPark Floating Rate Capital Ltd. (PFLT) is down over 7% at $12.24 ESS Tech, Inc. (GWH) is down over 7% at $3.83 Oppenheimer Holdings Inc. (OPY) is down over 6% at $35.00 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. (RTTNews) - The following are some of the stocks making big moves in Tuesday's pre-market trading (as of 07.15 A.M. ET).
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In the Green GoodRx Holdings, Inc. (GDRX) is up over 39% at $10.82 DPCM Capital, Inc. (QBTS) is up over 36% at $13.64 Verona Pharma plc (VRNA) is up over 29% at $9.01 Lemonade, Inc. (LMND) is up over 12% at $28.26 Desktop Metal, Inc. (DM) is up over 12% at $2.91 Solo Brands, Inc. (DTC) is up over 11% at $6.14 Dynagas LNG Partners LP (DLNG) is up over 9% at $3.50 ShockWave Medical, Inc. (SWAV) is up over 8% at $240.00 Energy Vault Holdings, Inc. (NRGV) is up over 8% at $5.34 Equinox Gold Corp. (EQX) is up over 7% at $4.48 In the Red CorMedix Inc. (CRMD) is down over 53% at $3.49 Novavax, Inc. (NVAX) is down over 31% at $39.20 Turtle Beach Corporation (HEAR) is down over 30% at $9.70 Magic Empire Global Limited (MEGL) is down over 19% at $94.69 Community Health Systems, Inc. (CYH) is down over 16% at $3 CarGurus, Inc. (CARG) is down over 15% at $21.84 3D Systems Corporation (DDD) is down over 13% at $11.40 DermTech, Inc. (DMTK) is down over 11% at $7.48 Trex Company, Inc. (TREX) is down over 10% at $57.00 PennantPark Floating Rate Capital Ltd. (PFLT) is down over 7% at $12.24 ESS Tech, Inc. (GWH) is down over 7% at $3.83 Oppenheimer Holdings Inc. (OPY) is down over 6% at $35.00 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. (RTTNews) - The following are some of the stocks making big moves in Tuesday's pre-market trading (as of 07.15 A.M. ET).
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In the Green GoodRx Holdings, Inc. (GDRX) is up over 39% at $10.82 DPCM Capital, Inc. (QBTS) is up over 36% at $13.64 Verona Pharma plc (VRNA) is up over 29% at $9.01 Lemonade, Inc. (LMND) is up over 12% at $28.26 Desktop Metal, Inc. (DM) is up over 12% at $2.91 Solo Brands, Inc. (DTC) is up over 11% at $6.14 Dynagas LNG Partners LP (DLNG) is up over 9% at $3.50 ShockWave Medical, Inc. (SWAV) is up over 8% at $240.00 Energy Vault Holdings, Inc. (NRGV) is up over 8% at $5.34 Equinox Gold Corp. (EQX) is up over 7% at $4.48 In the Red CorMedix Inc. (CRMD) is down over 53% at $3.49 Novavax, Inc. (NVAX) is down over 31% at $39.20 Turtle Beach Corporation (HEAR) is down over 30% at $9.70 Magic Empire Global Limited (MEGL) is down over 19% at $94.69 Community Health Systems, Inc. (CYH) is down over 16% at $3 CarGurus, Inc. (CARG) is down over 15% at $21.84 3D Systems Corporation (DDD) is down over 13% at $11.40 DermTech, Inc. (DMTK) is down over 11% at $7.48 Trex Company, Inc. (TREX) is down over 10% at $57.00 PennantPark Floating Rate Capital Ltd. (PFLT) is down over 7% at $12.24 ESS Tech, Inc. (GWH) is down over 7% at $3.83 Oppenheimer Holdings Inc. (OPY) is down over 6% at $35.00 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. (RTTNews) - The following are some of the stocks making big moves in Tuesday's pre-market trading (as of 07.15 A.M. ET).
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0e9bc4cd-4f08-495f-8d97-766c22fd8eac
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716487.0
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2022-08-09 00:00:00 UTC
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3D Systems (DDD) Earnings & Revenues Miss Estimates in Q2
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-earnings-revenues-miss-estimates-in-q2
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nan
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nan
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3D Systems DDD reported second-quarter 2022 non-GAAP loss of 7 cents per share, missing the Zacks Consensus Estimate of break-even. The bottom line compared unfavorably with the prior-year quarter’s earnings of 12 cents per share.
In the second quarter of 2022, 3D Systems reported revenues of $140 million, down 13.8% from the year-ago quarter but up 5.3% from the previous quarter. Excluding the impact of business divestments in 2022 and on a constant currency basis, revenues increased 7.8% year over year. The top line lagged the consensus mark of $149.1 million for the second consecutive quarter.
3D Systems’ second-quarter performance reflected impacts of inflationary pressure, foreign exchange risks and supply chain disruptions, among other ongoing macroeconomic constraints.
3D Systems Corporation Price, Consensus and EPS Surprise
3D Systems Corporation price-consensus-eps-surprise-chart | 3D Systems Corporation Quote
Quarter in Detail
In the second quarter, product revenues represented 74% of the total revenues and decreased 4.5% to $103.8 million. Revenues from Services, which accounted for 25.9% of revenues, plunged 32.7% year over year to $36.3 million.
Revenues from the Healthcare segment fell 13.4% year over year to $71.7 million. The figure increased 11.5% from the prior quarter. Excluding the impact of business divestments, the segment’s revenues increased 4.7% year over year.
The industrial division revenues decreased 14.3% year over year to $68.3 million and 0.6% sequentially. Excluding the impact of business divestments, the unit’s revenues increased 11.2%. The company witnessed solid demand for products as well as materials.
Operating Details
During the second quarter of 2022, 3D Systems’ non-GAAP gross profit decreased 5.2% year over year to $53.3 million. Consequently, non-GAAP gross profit margin contracted 330 basis points (bps) to 38.1%. This decrease was driven by year-over-year product mix changes due to divestitures and increased supply chain disruptions.
Non-GAAP operating expenses increased 24.5% to $60.9 million. The increase was due to spending related to future growth, which includes expenses from acquisitions, research and development, and corporate infrastructure.
Non-GAAP operating loss was $7.6 million versus the year-ago operating income of $7.3 million.
Adjusted EBITDA was negative $2.6 million. The margin of negative 1.9% reflected the inflationary impact on input costs and gradual investments for portfolio & business growth.
Balance Sheet Details
The company exited the second quarter with cash, cash equivalents and short-term investments of $638.2 million, lower than the prior quarter's $745.6 million. As of Jun 30, 2022, 3D Systems had a total debt of $448.1 million, slightly up from the previous quarter’s $447.5 million.
In the first six months of 2022, the company utilized $38.2 million of cash from operational activities.
Guidance
3D Systems once again trimmed its full-year 2022 guidance. The company now expects revenues between $530 million and $570 million, compared with the previously expected band of $580 million to $625 million. It now projects non-GAAP gross margin to be 39-41% rather than the previously estimated 40-43%.
Non-GAAP operating expense is estimated to be $245-$250 million, raising the lower end from the earlier projection of $235-$250 million.
Management provided this guidance with the assumption that the pandemic, supply chain disruptions or any geopolitical events will not be of any concern in 2022.
Zacks Rank & Key Picks
3D Systems currently carries a Zacks Rank #3 (Hold). Shares of DDD have slumped 53.3% in the past year.
Some better-ranked stocks from the broader Computer and Technology sector are Taiwan Semiconductor TSM, Clearfield CLFD and Silicon Laboratories SLAB, each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Taiwan Semiconductor's third-quarter 2022 earnings has been revised 10 cents northward to $1.70 per share over the past 30 days. For 2022, earnings estimates have moved 41 cents north to $6.30 per share in the past 30 days.
TSM's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 3.9%. Shares of the company have decreased 25.6% in the past year.
The Zacks Consensus Estimate for Clearfield's fourth-quarter fiscal 2022 earnings has been revised upward by 10 cents to 80 cents per share over the past 30 days. For fiscal 2022, earnings estimates have moved 36 cents north to $3.13 per share in the past 30 days.
Clearfield’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 33.9%. Shares of CLFD have soared 159% in the past year.
The Zacks Consensus Estimate for Silicon Laboratories’ third-quarter 2022 earnings has increased 22.9% to $1.02 per share over the past 30 days. For 2022, earnings estimates have moved 14.2% up to $4.18 per share in the past 30 days.
Silicon Laboratories’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 63.6%. Shares of SLAB have decreased 3.7% in the past year.
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Taiwan Semiconductor Manufacturing Company Ltd. (TSM): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
Silicon Laboratories, Inc. (SLAB): Free Stock Analysis Report
Clearfield, Inc. (CLFD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD reported second-quarter 2022 non-GAAP loss of 7 cents per share, missing the Zacks Consensus Estimate of break-even. Shares of DDD have slumped 53.3% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD reported second-quarter 2022 non-GAAP loss of 7 cents per share, missing the Zacks Consensus Estimate of break-even. Shares of DDD have slumped 53.3% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD reported second-quarter 2022 non-GAAP loss of 7 cents per share, missing the Zacks Consensus Estimate of break-even. Shares of DDD have slumped 53.3% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD reported second-quarter 2022 non-GAAP loss of 7 cents per share, missing the Zacks Consensus Estimate of break-even. Shares of DDD have slumped 53.3% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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171fff26-4b78-4ddd-a4b7-4c610b35cb80
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716488.0
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2022-08-09 00:00:00 UTC
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3D Systems Stock Drops 12% on Earnings Miss, Guidance Cut
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DDD
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https://www.nasdaq.com/articles/3d-systems-stock-drops-12-on-earnings-miss-guidance-cut
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nan
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nan
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Investors in 3D Systems (NYSE: DDD) are likely in for a tough day on Tuesday. The 3D-printing company released a disappointing second-quarter report on Monday after the market close.
Shares fell 11.9% in Monday's after-hours trading session. This is attributable to the quarter's revenue and earnings missing Wall Street consensus estimates. Management also lowered its full-year 2022 guidance, which was likely the biggest factor in the sell-off.
It's safe to assume shares will drop on Tuesday. The magnitude of the decline will likely depend on information shared on the analystearnings call which is scheduled for Tuesday at 8:30 a.m. ET.
Image source: Getty Images.
3D Systems' key metrics
METRIC Q2 2022 Q2 2021 CHANGE
Revenue $140.0 million $162.6 million (14%)
GAAP operating income ($32.0 million) ($10.1 million) Loss widened 217%
Adjusted operating income ($7.6 million) $7.3 million Flipped to negative from positive
GAAP net income ($33.0 million) ($9.6 million) Loss widened 244%
Adjusted net income ($8.5 million) $8.0 million Flipped to negative from positive
GAAP earnings per share (EPS) ($0.26) ($0.08) Loss widened 225%
Adjusted EPS ($0.07) $0.06 Flipped to negative from positive
Data source: 3D Systems. GAAP = generally accepted accounting principles.
Investors should focus on the adjusted metrics, as they strip out one-time items.
Excluding the divestitures of noncore assets made last year, revenue grew 3.3% year over year, and 7.8% in constant currency. Given the challenging macroeconomic environment, this latter result is fairly decent.
The strengthening of the U.S. dollar relative to other currencies over the last year took a big bite out of the company's sales growth because it has a sizable international business.
Wall Street was looking for revenue of $146.8 million and adjusted earnings per share of $0, as outlined in my earnings preview. So the company missed both estimates.
In the first six months of the year, 3D Systems used cash of $38.2 million running its operations. It ended the period with cash and short-term investments of $638.2 million and long-term debt of $448.1 million.
For context, in the first quarter, 3D Systems' revenue fell 9% year over year to $133 million. Excluding the impact of divestitures, however, revenue increased 10%.
Segment results
SEGMENT Q2 2022 REVENUE CHANGE YOY
Industrial $68.3 million (14%)
Healthcare $71.7 million (13%)
Total $140.0 million (14%)
Data source: 3D Systems. YOY = year over year.
Adjusted for divestitures, sales in the industrial and healthcare segments rose 3.8% and 2.9%, respectively. Adjusted for divestitures and changes in foreign-exchange (forex) rates, the two segments grew revenue 11% and 4.7%, respectively.
The company attributed the overall 7.8% growth in "core revenue" (which excludes divestitures and forex changes) to continued solid demand across both segments, "partially offset by continuing global supply chain disruptions and the Russia-Ukraine war, which has impacted demand in the European region and led to our exit from the Russian market."
What the CEO had to say
Here's part of CEO Jeffrey Graves' statement in the earnings release.
Our second quarter results came in below our expectations, due in large part to continuing supply chain disruptions that constrained our ability to fill customer orders, input cost inflation that reduced our gross profit margins and a significant negative impact of foreign exchange on our international business. In addition, we are seeing evidence that macro factors are causing selected key customers to spend more cautiously, and we now believe, as reflected in our reduced FY 2022 guidance, that this softer demand environment is likely to continue at least through the balance of the year. We have already taken certain cost and efficiency-related actions and will take additional measures as we move through 2022, with the goal of mitigating the impact of reduced near-term demand on our financial results.
2022 guidance lowered
METRIC 2021 RESULT CURRENT 2022 GUIDANCE INITIAL 2022 GUIDANCE ANNUAL CHANGE IMPLIED BY CURRENT GUIDANCE*
Revenue $615.6 million $530 million to $570 million $580 million to $625 million (14%) to (7.4%)
Adjusted gross margin 43% 39% to 41% 40% to 43% Decline of 3 percentage points to flat
Adjusted operating expenses $214.7 million $245 million to $250 million $235 million to $250 million 14% to 16% increase in expenses
Data source: 3D Systems. *Calculated by author.
The reduced revenue guidance "reflects an estimated $20 million of negative foreign exchange impact, as well as additional negative impacts from reduced customer spending in selected end markets such as dental, elective surgeries and European and Asia Pacific manufacturers caused by the challenging macro-environment," the company said in the earnings release.
A disappointing Q2 report
In short, 3D Systems turned in a subpar Q2 report. The most disappointing part of the report was the lowering of 2022 guidance. However, this action shouldn't come as much of a surprise, given the deterioration in some aspects of the macro environment and the further strengthening of the U.S. dollar since early in the year when the company issued its initial outlook.
10 stocks we like better than 3D Systems
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and 3D Systems wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 27, 2022
Beth McKenna has no position in any of the stocks mentioned. The Motley Fool recommends 3D Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors in 3D Systems (NYSE: DDD) are likely in for a tough day on Tuesday. Our second quarter results came in below our expectations, due in large part to continuing supply chain disruptions that constrained our ability to fill customer orders, input cost inflation that reduced our gross profit margins and a significant negative impact of foreign exchange on our international business. In addition, we are seeing evidence that macro factors are causing selected key customers to spend more cautiously, and we now believe, as reflected in our reduced FY 2022 guidance, that this softer demand environment is likely to continue at least through the balance of the year.
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Investors in 3D Systems (NYSE: DDD) are likely in for a tough day on Tuesday. Revenue $140.0 million $162.6 million (14%) GAAP operating income ($32.0 million) ($10.1 million) Loss widened 217% Adjusted operating income ($7.6 million) $7.3 million Flipped to negative from positive GAAP net income ($33.0 million) ($9.6 million) Loss widened 244% Adjusted net income ($8.5 million) $8.0 million Flipped to negative from positive GAAP earnings per share (EPS) ($0.26) ($0.08) Loss widened 225% Adjusted EPS ($0.07) $0.06 Flipped to negative from positive Data source: 3D Systems. Revenue $615.6 million $530 million to $570 million $580 million to $625 million (14%) to (7.4%) Adjusted gross margin 43% 39% to 41% 40% to 43% Decline of 3 percentage points to flat Adjusted operating expenses $214.7 million $245 million to $250 million $235 million to $250 million 14% to 16% increase in expenses Data source: 3D Systems.
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Investors in 3D Systems (NYSE: DDD) are likely in for a tough day on Tuesday. Revenue $140.0 million $162.6 million (14%) GAAP operating income ($32.0 million) ($10.1 million) Loss widened 217% Adjusted operating income ($7.6 million) $7.3 million Flipped to negative from positive GAAP net income ($33.0 million) ($9.6 million) Loss widened 244% Adjusted net income ($8.5 million) $8.0 million Flipped to negative from positive GAAP earnings per share (EPS) ($0.26) ($0.08) Loss widened 225% Adjusted EPS ($0.07) $0.06 Flipped to negative from positive Data source: 3D Systems. Revenue $615.6 million $530 million to $570 million $580 million to $625 million (14%) to (7.4%) Adjusted gross margin 43% 39% to 41% 40% to 43% Decline of 3 percentage points to flat Adjusted operating expenses $214.7 million $245 million to $250 million $235 million to $250 million 14% to 16% increase in expenses Data source: 3D Systems.
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Investors in 3D Systems (NYSE: DDD) are likely in for a tough day on Tuesday. In addition, we are seeing evidence that macro factors are causing selected key customers to spend more cautiously, and we now believe, as reflected in our reduced FY 2022 guidance, that this softer demand environment is likely to continue at least through the balance of the year. The reduced revenue guidance "reflects an estimated $20 million of negative foreign exchange impact, as well as additional negative impacts from reduced customer spending in selected end markets such as dental, elective surgeries and European and Asia Pacific manufacturers caused by the challenging macro-environment," the company said in the earnings release.
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ab63bbb4-acfb-4687-80fc-ce86daebfd9c
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716489.0
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2022-08-08 00:00:00 UTC
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Why 3D Systems Stock Jumped 18% in July
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DDD
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https://www.nasdaq.com/articles/why-3d-systems-stock-jumped-18-in-july
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nan
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nan
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What happened
Shares of 3D Systems (NYSE: DDD), a diversified 3D printing company, rose 17.9% in July, according to data from S&P Global Market Intelligence. This rise is at least primarily attributable to market dynamics, rather than company-specific catalysts.
For context, the S&P 500 and Nasdaq Composite indexes returned 9.2% and 12.4%, respectively, last month. The Nasdaq is probably the better benchmark for 3D Systems stock since it is heavily weighted with companies in the broad technology realm.
A 3D printer. Image source: Getty Images.
So what
3D Systems didn't announce any notable market-moving news last month, nor did any Wall Street analysts upgrade their rating of its stock. These facts along with the broader market's strong performance suggest that the stock's robust performance in July was at least primarily driven by market dynamics.
That said, there is possibly one industry catalyst that might have provided 3D Systems stock with a slight tailwind. In July, ARK Invest CEO Cathie Wood sold off a significant number of shares of 3D printing company Stratasys (NASDAQ: SSYS) from her exchange-traded funds, as I detailed in my Stratasys second-quarter earnings preview.
It's possible that this move could have spurred some investors to follow suit, and some of them might have wanted to stay invested in the 3D printing space, so they could have bought some shares of 3D Systems. This is pure speculation. If this was a factor in 3D Systems stock's July performance, it was only a small one.
Now what
Investors don't have long to wait for material news about 3D Systems. The company is slated to report its second-quarter results after the market close on Monday, Aug. 8. An analyst conference call is scheduled for the next day at 8:30 a.m. ET.
For the second quarter, Wall Street expects revenue to decline 9.7% year over year to $146.8 million. Investors shouldn't be concerned if such a relatively modest decline occurs. A decline is projected because the company divested noncore assets over the last year. Analysts also expect 3D Systems will break even on an adjusted basis, compared with posting an adjusted profit of $0.12 per share in the year-ago period.
Investors will be focusing on guidance; any notable change in the company's 2022 outlook will likely move the stock, as outlined in my 3D Systems second-quarter earnings preview.
10 stocks we like better than 3D Systems
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and 3D Systems wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 27, 2022
Beth McKenna has no position in any of the stocks mentioned. The Motley Fool recommends 3D Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of 3D Systems (NYSE: DDD), a diversified 3D printing company, rose 17.9% in July, according to data from S&P Global Market Intelligence. It's possible that this move could have spurred some investors to follow suit, and some of them might have wanted to stay invested in the 3D printing space, so they could have bought some shares of 3D Systems. Investors will be focusing on guidance; any notable change in the company's 2022 outlook will likely move the stock, as outlined in my 3D Systems second-quarter earnings preview.
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What happened Shares of 3D Systems (NYSE: DDD), a diversified 3D printing company, rose 17.9% in July, according to data from S&P Global Market Intelligence. So what 3D Systems didn't announce any notable market-moving news last month, nor did any Wall Street analysts upgrade their rating of its stock. In July, ARK Invest CEO Cathie Wood sold off a significant number of shares of 3D printing company Stratasys (NASDAQ: SSYS) from her exchange-traded funds, as I detailed in my Stratasys second-quarter earnings preview.
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What happened Shares of 3D Systems (NYSE: DDD), a diversified 3D printing company, rose 17.9% in July, according to data from S&P Global Market Intelligence. Investors will be focusing on guidance; any notable change in the company's 2022 outlook will likely move the stock, as outlined in my 3D Systems second-quarter earnings preview. 10 stocks we like better than 3D Systems When our award-winning analyst team has a stock tip, it can pay to listen.
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What happened Shares of 3D Systems (NYSE: DDD), a diversified 3D printing company, rose 17.9% in July, according to data from S&P Global Market Intelligence. So what 3D Systems didn't announce any notable market-moving news last month, nor did any Wall Street analysts upgrade their rating of its stock. Investors will be focusing on guidance; any notable change in the company's 2022 outlook will likely move the stock, as outlined in my 3D Systems second-quarter earnings preview.
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872a705d-f981-4eb6-a204-527788e0774f
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716490.0
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2022-08-03 00:00:00 UTC
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Zacks Earnings ESP: A Better Way to Find Earnings Surprises for Computer and Technology
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DDD
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https://www.nasdaq.com/articles/zacks-earnings-esp%3A-a-better-way-to-find-earnings-surprises-for-computer-and-technology-19
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nan
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nan
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Wall Street watches a company's quarterly report closely to understand as much as possible about its recent performance and what to expect going forward. Of course, one figure often stands out among the rest: earnings.
Life and the stock market are both about expectations, and rising above what is expected is often rewarded, while falling short can come with negative consequences. Investors might want to try to capture stronger returns by finding positive earnings surprises.
Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.
The Zacks Earnings ESP, Explained
The Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.
The core of the ESP model is comparing the Most Accurate Estimate to the Zacks Consensus Estimate, where the resulting percentage difference between the two equals the Expected Surprise Prediction. The Zacks Rank is also factored into the ESP metric to better help find companies that appear poised to top their next bottom-line consensus estimate, which will hopefully help lift the stock price.
In fact, when we combined a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time. Perhaps most importantly, using these parameters has helped produce 28.3% annual returns on average, according to our 10 year backtest.
Stocks with a ranking of #3 (Hold), or 60% of all stocks covered by the Zacks Rank, are expected to perform in-line with the broader market. Stocks with rankings of #2 (Buy) and #1 (Strong Buy), or the top 15% and top 5% of stocks, respectively, should outperform the market; Strong Buy stocks should outperform more than any other rank.
Should You Consider Atlassian?
The final step today is to look at a stock that meets our ESP qualifications. Atlassian (TEAM) earns a #3 (Hold) one day from its next quarterly earnings release on August 4, 2022, and its Most Accurate Estimate comes in at $0.27 a share.
TEAM has an Earnings ESP figure of +1.92%, which, as explained above, is calculated by taking the percentage difference between the $0.27 Most Accurate Estimate and the Zacks Consensus Estimate of $0.26. Atlassian is one of a large database of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
TEAM is part of a big group of Computer and Technology stocks that boast a positive ESP, and investors may want to take a look at 3D Systems (DDD) as well.
3D Systems is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on August 8, 2022. DDD's Most Accurate Estimate sits at $0.02 a share five days from its next earnings release.
For 3D Systems, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $0 is +900%.
TEAM and DDD's positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report.
Find Stocks to Buy or Sell Before They're Reported
Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Atlassian Corporation PLC (TEAM): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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TEAM is part of a big group of Computer and Technology stocks that boast a positive ESP, and investors may want to take a look at 3D Systems (DDD) as well. TEAM and DDD's positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report. DDD's Most Accurate Estimate sits at $0.02 a share five days from its next earnings release.
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3D Systems Corporation (DDD): Free Stock Analysis Report TEAM is part of a big group of Computer and Technology stocks that boast a positive ESP, and investors may want to take a look at 3D Systems (DDD) as well. DDD's Most Accurate Estimate sits at $0.02 a share five days from its next earnings release.
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TEAM is part of a big group of Computer and Technology stocks that boast a positive ESP, and investors may want to take a look at 3D Systems (DDD) as well. DDD's Most Accurate Estimate sits at $0.02 a share five days from its next earnings release. TEAM and DDD's positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report.
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TEAM and DDD's positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report. TEAM is part of a big group of Computer and Technology stocks that boast a positive ESP, and investors may want to take a look at 3D Systems (DDD) as well. DDD's Most Accurate Estimate sits at $0.02 a share five days from its next earnings release.
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846dfc44-22f4-4c10-9ad6-06e952824a8d
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716491.0
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2022-07-28 00:00:00 UTC
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Surprising Analyst 12-Month Target For SLY
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DDD
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https://www.nasdaq.com/articles/surprising-analyst-12-month-target-for-sly
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nan
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nan
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Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR S&P 600 Small Cap ETF (Symbol: SLY), we found that the implied analyst target price for the ETF based upon its underlying holdings is $108.16 per unit.
With SLY trading at a recent price near $86.28 per unit, that means that analysts see 25.36% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of SLY's underlying holdings with notable upside to their analyst target prices are 3D Systems Corp. (Symbol: DDD), Signet Jewelers Ltd (Symbol: SIG), and Artivion Inc. (Symbol: AORT). Although DDD has traded at a recent price of $10.61/share, the average analyst target is 62.11% higher at $17.20/share. Similarly, SIG has 59.34% upside from the recent share price of $57.99 if the average analyst target price of $92.40/share is reached, and analysts on average are expecting AORT to reach a target price of $31.15/share, which is 54.82% above the recent price of $20.12. Below is a twelve month price history chart comparing the stock performance of DDD, SIG, and AORT:
Below is a summary table of the current analyst target prices discussed above:
NAME SYMBOL RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
SPDR S&P 600 Small Cap ETF SLY $86.28 $108.16 25.36%
3D Systems Corp. DDD $10.61 $17.20 62.11%
Signet Jewelers Ltd SIG $57.99 $92.40 59.34%
Artivion Inc. AORT $20.12 $31.15 54.82%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Although DDD has traded at a recent price of $10.61/share, the average analyst target is 62.11% higher at $17.20/share. SPDR S&P 600 Small Cap ETF SLY $86.28 $108.16 25.36% 3D Systems Corp. DDD $10.61 $17.20 62.11% Signet Jewelers Ltd SIG $57.99 $92.40 59.34% Artivion Inc. AORT $20.12 $31.15 54.82% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of SLY's underlying holdings with notable upside to their analyst target prices are 3D Systems Corp. (Symbol: DDD), Signet Jewelers Ltd (Symbol: SIG), and Artivion Inc. (Symbol: AORT).
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Three of SLY's underlying holdings with notable upside to their analyst target prices are 3D Systems Corp. (Symbol: DDD), Signet Jewelers Ltd (Symbol: SIG), and Artivion Inc. (Symbol: AORT). SPDR S&P 600 Small Cap ETF SLY $86.28 $108.16 25.36% 3D Systems Corp. DDD $10.61 $17.20 62.11% Signet Jewelers Ltd SIG $57.99 $92.40 59.34% Artivion Inc. AORT $20.12 $31.15 54.82% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Although DDD has traded at a recent price of $10.61/share, the average analyst target is 62.11% higher at $17.20/share.
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Three of SLY's underlying holdings with notable upside to their analyst target prices are 3D Systems Corp. (Symbol: DDD), Signet Jewelers Ltd (Symbol: SIG), and Artivion Inc. (Symbol: AORT). Although DDD has traded at a recent price of $10.61/share, the average analyst target is 62.11% higher at $17.20/share. Below is a twelve month price history chart comparing the stock performance of DDD, SIG, and AORT: Below is a summary table of the current analyst target prices discussed above:
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SPDR S&P 600 Small Cap ETF SLY $86.28 $108.16 25.36% 3D Systems Corp. DDD $10.61 $17.20 62.11% Signet Jewelers Ltd SIG $57.99 $92.40 59.34% Artivion Inc. AORT $20.12 $31.15 54.82% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of SLY's underlying holdings with notable upside to their analyst target prices are 3D Systems Corp. (Symbol: DDD), Signet Jewelers Ltd (Symbol: SIG), and Artivion Inc. (Symbol: AORT). Although DDD has traded at a recent price of $10.61/share, the average analyst target is 62.11% higher at $17.20/share.
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8c434cae-41b7-4009-89fc-4522b105f950
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716492.0
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2022-07-22 00:00:00 UTC
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3D Systems (DDD), Fleet Space Tie Up for RF Antenna Design
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-fleet-space-tie-up-for-rf-antenna-design
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nan
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3D Systems DDD recently announced that it has entered into a new collaboration with Fleet Space Technologies — the only space company in Australia to design, build and launch commercial Nano Satellites. Under the contract, 3D Systems and Fleet Space Technologies have jointly developed innovative radio frequency ("RF") patch antennas for the Alpha satellite constellation of the space company.
3D Systems’ Application Innovation Group (“AIG”), a team of engineers and experts that collaborates closely with customers to solve their complex design and additive manufacturing challenges, printed the RF patch antennas in LaserForm AlSi10Mg and A6061-RAM2 materials on its DMP Flex 350 metal 3D printer. The additively manufactured RF patch antennas include process development and bridge production that enable companies for small satellite applications to move to small batch production from Fleet Space’s existing RF patch design within three weeks.
With expertise in industries like aerospace and defense, automotive and motorsports, dental, jewelry, medical devices, and semiconductor, 3D Systems’ AIG team aided Fleet Space Technologies’ engineering team in designing the antennas to meet the size, weight, and performance requirements of the Alpha satellites.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
As part of this venture, Fleet Space Technologies brings 3D Systems’ DMP Flex 350 for in-house antenna production in its headquarters at Beverley, Adelaide. These RF patch antennas will be designed for each of the 140 low earth orbit satellites operating in the space company’s Alpha constellation under its ExoSphere initiative.
3D Systems’ DMP Flex 350 is designed for flexible application use for research and development projects, application development and serial production. Its quick-swap build modules and fast powder recycling accelerate volume part production. It comes with an all-in-one integrated metal additive manufacturing software, 3DXpert, to prepare, optimize and manufacture 3D CAD models, to quickly and efficiently transition from a 3D model to successfully printed parts.
3D Systems is currently witnessing robust prospects across most of its end businesses. The company is focusing on strategic initiatives like improving existing 3D printers, strengthening partnerships and enhancing productivity to drive growth. In June, the company signed a strategic partnership with the EMS Group’s Specialty Chemicals business unit, EMS-GRILTECH, to jointly develop additive manufacturing materials. The partners have recently launched a nylon copolymer, DuraForm PAx Natural, that features properties similar to injection molded plastics and intends to develop other materials showcasing superior performance in the powder-bed fusion platform utilizing SLS printing technology in the future.
Earlier in March, 3D Systems partnered with the Intelligent Surgery Ecosystem developer, Enhatch, to jointly design and deliver patient-specific medical devices. By integrating Enhatch's advanced technologies into its medical device workflow for developing patient-specific solutions, 3D Systems has been addressing the growing demand for personalized medical devices.
Zacks Rank & Stocks to Consider
3D Systems currently carries a Zacks Rank #3 (Hold). Shares of DDD have plunged 73.6% over YTD.
Some better-ranked stocks from the broader Computer and Technology sector are Axcelis Technologies ACLS, Keysight Technologies KEYS and Baidu BIDU. While Axcelis currently flaunts a Zacks Rank #1 (Strong Buy), Keysight and Baidu carry a Zacks Rank of 2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Axcelis' second-quarter 2022 earnings has been revised 6 cents northward to $1.00 per share over the past 60 days. For 2022, earnings estimates have moved a penny north to $4.38 per share in the past 30 days.
Axcelis' earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 23.5%. Shares of ACLS have surged 39.2% in the past year.
The Zacks Consensus Estimate for Keysight's third-quarter fiscal 2022 earnings has been revised upward by a penny to $1.79 per share over the past seven days. For 2023, earnings estimates have moved a penny north to $7.17 per share in the past seven days.
Keysight’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 8%. Shares of KEYS have fallen 27.5% in YTD.
The Zacks Consensus Estimate for Baidu's second-quarter 2022 earnings has been revised 4 cents upward to $1.42 per share over the past seven days. For 2022, earnings estimates have moved 3 cents north to $8.30 per share in the past seven days.
Baidu's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 52.9%. Shares of BIDU have decreased 5.3% in YTD.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Baidu, Inc. (BIDU): Free Stock Analysis Report
Axcelis Technologies, Inc. (ACLS): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
Keysight Technologies Inc. (KEYS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD recently announced that it has entered into a new collaboration with Fleet Space Technologies — the only space company in Australia to design, build and launch commercial Nano Satellites. Shares of DDD have plunged 73.6% over YTD. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD recently announced that it has entered into a new collaboration with Fleet Space Technologies — the only space company in Australia to design, build and launch commercial Nano Satellites. Shares of DDD have plunged 73.6% over YTD. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD recently announced that it has entered into a new collaboration with Fleet Space Technologies — the only space company in Australia to design, build and launch commercial Nano Satellites. Shares of DDD have plunged 73.6% over YTD. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD recently announced that it has entered into a new collaboration with Fleet Space Technologies — the only space company in Australia to design, build and launch commercial Nano Satellites. Shares of DDD have plunged 73.6% over YTD. 3D Systems Corporation (DDD): Free Stock Analysis Report
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ed5bc296-739c-40cc-9988-60192e978179
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716493.0
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2022-07-19 00:00:00 UTC
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3D Systems Earnings: What to Watch on Aug. 8
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DDD
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https://www.nasdaq.com/articles/3d-systems-earnings%3A-what-to-watch-on-aug.-8
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nan
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nan
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3D Systems (NYSE: DDD) is slated to report its second-quarter 2022 results after the market close on Monday, Aug. 8. An analyst conference call is scheduled for the next day at 8:30 a.m. ET.
The 3D printing company's report will follow that of rival Stratasys, which plans to release its quarterly results before the market open on Wednesday, Aug. 3.
Investors will probably be approaching 3D Systems' report with more caution than optimism. Last quarter, the company missed Wall Street's consensus estimates for both revenue and earnings. That report broke a string of at least four consecutive quarters in which both the top and bottom lines exceeded analysts' expectations.
Moreover, investors are increasingly concerned that the Federal Reserve's tight monetary policy to tame high inflation could throw the U.S. economy into a recession.
All this said, long-term investors should continue to focus on how 3D Systems is performing given the factors within its control. Eventually the macroeconomic environment will improve and the stock market will come surging back.
Here's what to watch in 3D Systems' upcoming Q2 earnings report.
Image source: Getty Images.
3D Systems' key numbers
Below are the company's results from the year-ago quarter and Wall Street's estimates to use as benchmarks.
METRIC Q2 2021 RESULT WALL STREET'S Q2 2022 CONSENSUS ESTIMATE WALL STREET'S PROJECTED CHANGE (YOY)
Revenue $162.6 million $146.8 million (9.7%)
Adjusted earnings per share (EPS) $0.12 $0.00 Result expected to be breakeven, compared with positive in the year-ago period.
Data sources: 3D Systems and Yahoo! Finance. YOY = year over year.
Revenue is expected to decline because 3D Systems has sold off some noncore assets over the last year. Such a year-over-year drop in revenue will also usually hurt the bottom-line comparison.
While the divesting of noncore assets has had some short-term negatives, it was a good move from a long-term perspective.
For context, in the first quarter, 3D Systems' revenue fell 9% year over year to $133 million, missing the $134.2 million the Street had projected. Excluding the impact of divestitures, however, revenue increased 10%. Adjusted for divestitures, sales in the industrial and healthcare segments rose 16% and 4.6%, respectively.
Last quarter's adjusted net loss was $7.2 million, or $0.06 per share, compared with an adjusted net profit of $0.17 per share in the year-ago period. That result fell short of the $0.00 (breakeven) that analysts had expected.
Annual guidance
Any notable change in the company's 2022 guidance will probably move the stock.
For the year, 3D Systems' current outlook is for revenue in the range of $580 million to $625 million, which would equate to a contraction of about 6% to growth of 2% year over year. These numbers reflect the company's divestiture of noncore assets.
Management did not provide guidance for earnings. However, it did say that it expects adjusted gross margin between 40% and 43% and adjusted operating expenses between $235 million and $250 million. In 2021, these numbers were 43% and $214.7 million, respectively.
10 stocks we like better than 3D Systems
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and 3D Systems wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 2, 2022
Beth McKenna has no position in any of the stocks mentioned. The Motley Fool recommends 3D Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems (NYSE: DDD) is slated to report its second-quarter 2022 results after the market close on Monday, Aug. 8. The 3D printing company's report will follow that of rival Stratasys, which plans to release its quarterly results before the market open on Wednesday, Aug. 3. Moreover, investors are increasingly concerned that the Federal Reserve's tight monetary policy to tame high inflation could throw the U.S. economy into a recession.
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3D Systems (NYSE: DDD) is slated to report its second-quarter 2022 results after the market close on Monday, Aug. 8. Last quarter, the company missed Wall Street's consensus estimates for both revenue and earnings. Revenue $162.6 million $146.8 million (9.7%) Adjusted earnings per share (EPS) $0.12 $0.00 Result expected to be breakeven, compared with positive in the year-ago period.
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3D Systems (NYSE: DDD) is slated to report its second-quarter 2022 results after the market close on Monday, Aug. 8. Revenue $162.6 million $146.8 million (9.7%) Adjusted earnings per share (EPS) $0.12 $0.00 Result expected to be breakeven, compared with positive in the year-ago period. For context, in the first quarter, 3D Systems' revenue fell 9% year over year to $133 million, missing the $134.2 million the Street had projected.
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3D Systems (NYSE: DDD) is slated to report its second-quarter 2022 results after the market close on Monday, Aug. 8. Revenue $162.6 million $146.8 million (9.7%) Adjusted earnings per share (EPS) $0.12 $0.00 Result expected to be breakeven, compared with positive in the year-ago period. For context, in the first quarter, 3D Systems' revenue fell 9% year over year to $133 million, missing the $134.2 million the Street had projected.
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672e34d9-f7f2-4c83-9a2c-2052be8ae2a0
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716494.0
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2022-07-06 00:00:00 UTC
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The Best and Worst 3D Printing Stocks in the First Half of 2022
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DDD
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https://www.nasdaq.com/articles/the-best-and-worst-3d-printing-stocks-in-the-first-half-of-2022
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Now that the first half of 2022 is in the rearview mirror, we're going to look at the performances of 3D printing stocks during this period.
For context, the first half of this year was the S&P 500 index's worst January-through-June period since 1970. It dropped 20.6%, or 20% if we include dividends. The tech-heavy Nasdaq Composite performed even worse, plunging 29.5%, or 29.2% including dividends.
The market's poor performance is largely due to pandemic-driven global supply chain bottlenecks occurring at the same time that consumer demand for many goods was rebounding strongly. These concurrent events ignited inflation, which the Federal Reserve is trying to control by aggressively raising interest rates.
Image source: Getty Images.
3D printing stocks' first-half 2022 performances
Only companies with stocks that have market caps of at least $300 million (meaning they're small-cap stocks or larger) are included in this table. Stocks are listed in order of first-half 2022 performance.
COMPANY MARKET CAP WALL STREET'S PROJECTED ANNUALIZED EPS GROWTH OVER THE NEXT FIVE YEARS FIRST-HALF 2022 RETURN (DECLINE)
Proto Labs (NYSE: PRLB) $1.4 billion 25% (6.8%)
Nano Dimensions $852 million N/A (17.4%)
Stratasys $1.3 billion 33% (23.5%)
Materialise $864 million 63.1% (42.9%)
3D Systems $1.3 billion 30% (55%)
Desktop Metal $712 million N/A (55.6%)
Markforged (NYSE: MKFG) $370 million N/A (65.6%)
S&P 500 / Nasdaq Composite -- -- (20%) / (29.2%)
Data sources: Yahoo! Finance and YCharts. EPS = earnings per share. Data as of 7/5/22, except for first-half 2022 performance, which is to 6/30/22.
The best and worst performers
Proto Labs stock was the best performer of the 3D printing group in the first half of this year. The company isn't a pure play on 3D printing, as are the others in the table.
Proto Labs is a quick-turn contract manufacturer of prototypes and low-volume production metal and plastic parts. Along with offering 3D printing services, it also offers traditional manufacturing services. In the first quarter of 2022, 3D printing accounted for about 16% of the company's total revenue.
Proto Labs has two big things going for it relative to the other companies in the group. First, it's consistently profitable from a net income standpoint, whereas the other 3D printing companies are not. Second, it has historically generated robust cash flows.
That said, like the other 3D printing players, Proto Labs' results were significantly hurt by the pandemic. This is a quality company and its results have been rebounding, but with a possible recession on the near-term horizon, it might be too soon to consider buying shares.
Markforged stock was the biggest loser of the group. The Boston-area company might be a new name to some investors. It joined the ranks of publicly traded entities via a merger with a special-purpose acquisition company (SPAC) in July 2021.
Markforged created an integrated metal and carbon-fiber 3D printing platform that it calls the Digital Forge. I've not written about this company since it became publicly traded, but I did write about it in late 2017 after a venture capital (VC) funding round, which included significant investments from a Siemens-backed VC firm; Microsoft's VC arm; and Porsche, which is owned by Volkswagen. That article includes an overview of Markforged at that time.
Why did Markforged stock perform so poorly in the first half of the year? I'd speculate that a big reason was the timing of its SPAC merger, which occurred just months before the market began its steady decline. Stocks of unprofitable companies have been particularly hard hit.
Beware of "penny stocks"
Penny stocks are widely defined as stocks that trade for less than $5 per share. Three of the stocks in the above table fall into this category: Nano Dimensions ($3.31 closing price on Tuesday), Desktop Metal ($2.27), and Markforged ($1.97).
"Penny stocks are for short-term traders," as I wrote in my article on Desktop Metal's first-quarter 2022 results. Most long-term investors should stay away from them, as they tend to be extremely risky and volatile. That said, certainly there can be exceptions.
Favor stocks of profitable companies
Given the current market dynamics, most investors should favor stocks of companies that are profitable. In down markets, higher-quality, less-risky stocks tend to hold up better.
10 stocks we like better than Proto Labs
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Proto Labs wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 2, 2022
Beth McKenna has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Microsoft and Volkswagen AG. The Motley Fool recommends 3D Systems and Proto Labs. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The market's poor performance is largely due to pandemic-driven global supply chain bottlenecks occurring at the same time that consumer demand for many goods was rebounding strongly. I'd speculate that a big reason was the timing of its SPAC merger, which occurred just months before the market began its steady decline. Three of the stocks in the above table fall into this category: Nano Dimensions ($3.31 closing price on Tuesday), Desktop Metal ($2.27), and Markforged ($1.97).
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3D printing stocks' first-half 2022 performances Only companies with stocks that have market caps of at least $300 million (meaning they're small-cap stocks or larger) are included in this table. Proto Labs (NYSE: PRLB) $1.4 billion 25% (6.8%) Nano Dimensions $852 million N/A (17.4%) Stratasys $1.3 billion 33% (23.5%) Materialise $864 million 63.1% (42.9%) 3D Systems $1.3 billion 30% (55%) Desktop Metal $712 million N/A (55.6%) Markforged (NYSE: MKFG) $370 million N/A (65.6%) S&P 500 / Nasdaq Composite -- -- (20%) / (29.2%) Data sources: Yahoo! The Motley Fool recommends 3D Systems and Proto Labs.
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3D printing stocks' first-half 2022 performances Only companies with stocks that have market caps of at least $300 million (meaning they're small-cap stocks or larger) are included in this table. Beware of "penny stocks" Penny stocks are widely defined as stocks that trade for less than $5 per share. Favor stocks of profitable companies Given the current market dynamics, most investors should favor stocks of companies that are profitable.
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3D printing stocks' first-half 2022 performances Only companies with stocks that have market caps of at least $300 million (meaning they're small-cap stocks or larger) are included in this table. The best and worst performers Proto Labs stock was the best performer of the 3D printing group in the first half of this year. The Motley Fool recommends 3D Systems and Proto Labs.
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2022-06-29 00:00:00 UTC
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3D Systems (DDD) Partners With EMS Group, Boosts Portfolio
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-partners-with-ems-group-boosts-portfolio
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nan
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3D Systems DDD recently announced that it has inked a strategic partnership with the Graubünden-headquartered EMS Group’s Specialty Chemicals business unit — EMS-GRILTECH — to jointly develop additive manufacturing materials.
The EMS-GRILTECH is specialized in the development and production of fibers, fusible adhesives and adhesive yarn for technical and textile applications, adhesion promoters for the tire industry, powder coatings and reactive diluents. With the EMS-GRILTECH, 3D Systems has launched DuraForm PAx Natural, a nylon copolymer that features properties similar to injection molded plastics.
The DuraForm PAx Natural offers elevated impact resistance with high elongation at break in any direction. It can be used with any commercially-available selective laser sintering (SLS) printer to manufacture tough, lightweight, production-grade parts for applications like tooling handles, orthotics, splints, and braces, ducting in rugged environments, living hinges, liquid reservoirs, and enclosures.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
The newly introduced first-to-market material’s low printing temperatures reduce the time to part in hand and increase printer uptime, enabling manufacturers to gain a competitive edge and accelerate their supply chains. The material offers long-term stability of over five years indoors and is designated as a clean running material that implies low operator maintenance.
The DuraForm PAx Natural, which can be processed easily, is highly recyclable, indicating that it will help manufacturers reduce waste and decrease production costs. 3D Systems is the sole distributor of the material at present. The company intends to develop other materials showcasing superior performance in the powder-bed fusion platform by utilizing SLS printing technology in the future.
3D Systems is currently witnessing robust prospects across most of its end businesses. The company is focusing on strategic initiatives like improving existing 3D printers, strengthening partnerships and enhancing productivity to drive growth. In March, it partnered with the Intelligent Surgery Ecosystem developer, Enhatch, to jointly design and deliver patient-specific medical devices. By integrating Enhatch's advanced technologies into its medical device workflow for developing patient-specific solutions, 3D Systems address the growing demand for personalized medical devices.
Zacks Rank & Stocks to Consider
3D Systems currently carries a Zacks Rank #5 (Strong Sell). Shares of DDD have plunged 73.6% in the past year.
Some better-ranked stocks from the broader Computer and Technology sector are Analog Devices ADI, Axcelis Technologies ACLS and Baidu BIDU. While Analog Devices and Axcelis currently flaunt a Zacks Rank #1 (Strong Buy), Baidu carries a Zacks Rank of 2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Analog Devices' third-quarter fiscal 2022 earnings has been revised upward by 24 cents to $2.42 per share over the past 60 days. For fiscal 2022, earnings estimates have moved 81 cents north to $9.24 per share in the past 60 days.
Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 7.7%. Shares of ADI have decreased 13.3% in the past year.
The Zacks Consensus Estimate for Axcelis' second-quarter fiscal 2022 earnings has been revised 3 cents northward to 99 cents per share over the past 60 days. For 2022, earnings estimates have moved 10.3% north to $4.40 per share in the past 60 days.
Axcelis' earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 23.5%. Shares of ACLS have surged 39.2% in the past year.
The Zacks Consensus Estimate for Baidu's second-quarter 2022 earnings has been revised 2 cents southward to $1.38 per share over the past 30 days. For 2022, earnings estimates have moved 74 cents north to $8.27 per share in the past 30 days.
Baidu's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 52.9%. Shares of BIDU have fallen 25.9% in the past year.
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Analog Devices, Inc. (ADI): Free Stock Analysis Report
Baidu, Inc. (BIDU): Free Stock Analysis Report
Axcelis Technologies, Inc. (ACLS): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3D Systems DDD recently announced that it has inked a strategic partnership with the Graubünden-headquartered EMS Group’s Specialty Chemicals business unit — EMS-GRILTECH — to jointly develop additive manufacturing materials. Shares of DDD have plunged 73.6% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD recently announced that it has inked a strategic partnership with the Graubünden-headquartered EMS Group’s Specialty Chemicals business unit — EMS-GRILTECH — to jointly develop additive manufacturing materials. Shares of DDD have plunged 73.6% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems DDD recently announced that it has inked a strategic partnership with the Graubünden-headquartered EMS Group’s Specialty Chemicals business unit — EMS-GRILTECH — to jointly develop additive manufacturing materials. Shares of DDD have plunged 73.6% in the past year. 3D Systems Corporation (DDD): Free Stock Analysis Report
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3D Systems Corporation (DDD): Free Stock Analysis Report 3D Systems DDD recently announced that it has inked a strategic partnership with the Graubünden-headquartered EMS Group’s Specialty Chemicals business unit — EMS-GRILTECH — to jointly develop additive manufacturing materials. Shares of DDD have plunged 73.6% in the past year.
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df777a6d-e0e7-487a-9cce-60d669193e02
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716496.0
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2022-06-08 00:00:00 UTC
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3D Systems (DDD) Up 7% Since Last Earnings Report: Can It Continue?
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DDD
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https://www.nasdaq.com/articles/3d-systems-ddd-up-7-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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It has been about a month since the last earnings report for 3D Systems (DDD). Shares have added about 7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is 3D Systems due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
3D Systems Earnings & Revenue Miss Estimates in Q1
3D Systems reported first-quarter 2022 non-GAAP loss of 6 cents per share, missing the Zacks Consensus Estimate of break-even. The bottom line compared unfavorably with the prior-year quarter’s earnings of 17 cents per share.
In the first quarter of 2022, 3D Systems reported revenues of $133 million, down 9% from the year-ago quarter and 11.9% from the previous quarter. Excluding the impact of business divestments in 2021, revenues increased 10% year over year. The top line narrowly lagged the consensus mark of $133.7 million.
Quarter in Detail
In the first quarter, product revenues represented 75.6% of the total revenues and jumped 7.4% to $100.6 million. Meanwhile, revenues from Services, which accounted for 24.4% of revenues, plunged 38.2% year over year to $32.5 million.
Revenues from the Healthcare segment fell 11.3% year over year to $64.3 million. The figure declined 13.7% from the prior quarter. Excluding the impact of business divestments, the segment’s revenues increased 4.6% year over year.
The industrial division revenues decreased 6.6% year over year to $68.7 million and 10.1% sequentially. Excluding the impact of business divestments, the unit’s revenues increased 15.7%. The company witnessed solid demand for products as well as materials.
Operating Details
During the first quarter of 2022, 3D Systems’ non-GAAP gross profit decreased 16.2% year over year to $53.9 million. Consequently, non-GAAP gross profit margin contracted 340 basis points (bps) to 40.6%. This decrease was driven by year-over-year product mix changes due to divestitures and increased supply chain disruptions.
Non-GAAP operating expenses increased 13% to $57.8 million. The increase was due to spending related to future growth, which includes expenses from acquisitions, research and development, and bad debt caused by heightened geopolitical events.
Non-GAAP operating loss was $3.9 million versus the year-ago operating income of $13.1 million.
Adjusted EBITDA was $1.9 million. The margin of 1.4% reflected a disciplined approach to growth, cost management and focus on core businesses.
Balance Sheet Details
The global leader in additive manufacturing solutions exited the first quarter with cash, cash equivalents and short-term investments of $745.6 million, lower than the prior-quarter’s $789.7 million. As of Mar 31, 2022, 3D Systems had a total debt of $447.5 million, down from the previous quarter’s $460 million.
During first-quarter 2022, the company utilized $15.1 million of operating cash flow.
Guidance
3D Systems trimmed its full-year 2022 guidance. The company now expects revenues between $580 million and $625 million, compared with the previously expected band of $570 million to $630 million. It now projects non-GAAP gross margin to be 40-43% rather than the previously estimated 40-44%.
Non-GAAP operating expense is estimated to be $235-$250 million, raising the lower end from the earlier projection of $225-$250 million.
Management provided this guidance with the assumption that the pandemic, supply chain disruptions or any geopolitical events will not be of any concern in 2022.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -25% due to these changes.
VGM Scores
At this time, 3D Systems has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise 3D Systems has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
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3D Systems Corporation (DDD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It has been about a month since the last earnings report for 3D Systems (DDD). 3D Systems Corporation (DDD): Free Stock Analysis Report Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
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It has been about a month since the last earnings report for 3D Systems (DDD). 3D Systems Corporation (DDD): Free Stock Analysis Report 3D Systems Earnings & Revenue Miss Estimates in Q1 3D Systems reported first-quarter 2022 non-GAAP loss of 6 cents per share, missing the Zacks Consensus Estimate of break-even.
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It has been about a month since the last earnings report for 3D Systems (DDD). 3D Systems Corporation (DDD): Free Stock Analysis Report 3D Systems Earnings & Revenue Miss Estimates in Q1 3D Systems reported first-quarter 2022 non-GAAP loss of 6 cents per share, missing the Zacks Consensus Estimate of break-even.
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It has been about a month since the last earnings report for 3D Systems (DDD). 3D Systems Corporation (DDD): Free Stock Analysis Report In the first quarter of 2022, 3D Systems reported revenues of $133 million, down 9% from the year-ago quarter and 11.9% from the previous quarter.
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3753cb18-d3cf-4ce3-9ee0-7bc76d31d4c0
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716497.0
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2022-05-19 00:00:00 UTC
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3D Systems vs. Stratasys: Which Had the Better Q1 Earnings Report?
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DDD
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https://www.nasdaq.com/articles/3d-systems-vs.-stratasys%3A-which-had-the-better-q1-earnings-report
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nan
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nan
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Stratasys (NASDAQ: SSYS) and 3D Systems (NYSE: DDD) recently released their first-quarter 2022 reports. So, investors can now compare the two 3D printing companies' results, metric by metric.
Investors should keep in mind that qualitative factors can be just as important as quantitative ones, and this comparison looks at just a single quarter's results. Nonetheless, the data in this article should help you make better investing decisions in the 3D printing space.
Image source: Getty Images.
Revenue
COMPANY Q1 2022 RESULT
3D Systems $133.0 million, down 9% from the year-ago period (and up 10%, excluding the impact of divestitures)
Stratasys $163.4 million, up 22% from the year-ago period
Data sources: Company earnings reports.
Advantage: Stratasys.
Stratasys takes the gold metal here. In Q1, its year-over-year revenue growth was a robust 22%, which beat the 17% growth Wall Street had expected. Its revenue from sales of 3D printers grew an even stronger 37% year over year. This is a "particularly encouraging sign because 3D printer sales drive sales of print materials, which have higher profit margins," as I wrote in my earnings article.
3D Systems' revenue declined year over year but only because the company divested noncore assets last year. Excluding divestitures, its revenue grew 10%, reflecting a so-so performance.
One reason for Stratasys' revenue outperformance, however, is that it had an easier year-ago comparable. In Q1 2021, Stratasys' revenue edged up just 1% year over year. 3D Systems' revenue for the same quarter increased nearly 8% year over year, and grew 17% excluding the impact of divestitures.
GAAP earnings per share (EPS)
COMPANY Q1 2022 RESULT
3D Systems ($0.21), down from $0.36 in the year-ago period
Stratasys ($0.32), flat with ($0.32) in the year-ago period
Data sources: Company earnings reports. GAAP = generally accepted accounting principles.
Advantage: N/A.
This category is included just for information purposes and isn't included in the scoring. GAAP results don't exclude one-time items, so they're often not comparable. 3D Systems' result in the year-ago period, for instance, got a boost from the company's sale of some noncore assets.
Neither company is profitable from a GAAP standpoint and that's certainly something investors would like to see, at least during most quarters.
Adjusted EPS
COMPANY Q1 2022 RESULT
3D Systems ($0.06), down from $0.17 in the year-ago period
Stratasys $0.02, up from ($0.06) in the year-ago period
Data sources: Company earnings reports.
Advantage: Stratasys.
Stratasys is the victor here. Adjusted for one-time items, it posted a profit, whereas 3D Systems turned in a loss. Moreover, Stratasys' result improved from the year-ago period, whereas 3D Systems' result worsened.
Adjusted gross margin
COMPANY Q1 2022 RESULT
3D Systems 40.6%, down from 44% in the year-ago period
Stratasys 47.3%, up from 46.7% in the year-ago period
Data sources: Company earnings reports.
Advantage: Stratasys.
Stratasys handily wins this category. 3D Systems' year-over-year decline in adjusted gross margin was due to "product mix changes primarily as a result of divestitures and supply chain pressures," the company said in its earnings release.
A higher gross margin relative to a competitor with a very similar business profile can reflect stronger pricing power.
Liquidity -- operating cash flow and net cash position
COMPANY Q1 2022 RESULT
3D Systems
Used cash of $15.1 million running its operations.
Ended the quarter with $745.6 million in cash, cash equivalents, and short-term investments.
Ended the quarter with $447.5 million in long-term debt, so had a net cash position of $298.1 million.
Stratasys
Used cash of $16.1 million running its operations.
Ended the quarter with $475.6 million in cash, cash equivalents, and short-term investments.
Ended the quarter with no long-term debt.
Data sources: Company earnings reports.
Advantage: Stratasys.
Both companies used cash running their operations during the quarter, so neither performed well with respect to operating cash flow. On an absolute basis, Stratasys' operating cash outflow was a little higher than that of 3D Systems. But when we consider revenue along with this metric, Stratasys performed a bit better because it used less cash to generate every dollar of revenue than did 3D Systems. However, these ratios are close enough to call this part of this category a draw.
Stratasys wins the second part of this category, as its net cash position of $475.6 million is notably higher than its rival's $298.1 million.
Research and development spending
COMPANY Q1 2022 RESULT
3D Systems $21.6 million, or 16.2% of revenue
Stratasys $24.0 million, or 14.7% of revenue
Data sources: Company earnings reports.
Advantage: 3D Systems.
3D Systems spent a higher percentage of its revenue on research and development (R&D) than did Stratasys. However, the disparity is relatively small.
Investing in R&D is particularly crucial for technology-related companies.
The winner is... Stratasys.
Score: Stratasys -- 4 points; 3D Systems -- 1 point
Stratasys easily wins this Q1 2022 metric-to-metric face-off. That said, keep in mind the previously stated caveats: qualitative factors can be just as important as quantitative ones, and this analysis examined just one quarter's results.
10 stocks we like better than Stratasys
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Stratasys wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of April 27, 2022
Beth McKenna has no position in any of the stocks mentioned. The Motley Fool recommends 3D Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stratasys (NASDAQ: SSYS) and 3D Systems (NYSE: DDD) recently released their first-quarter 2022 reports. 3D Systems' year-over-year decline in adjusted gross margin was due to "product mix changes primarily as a result of divestitures and supply chain pressures," the company said in its earnings release. A higher gross margin relative to a competitor with a very similar business profile can reflect stronger pricing power.
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Stratasys (NASDAQ: SSYS) and 3D Systems (NYSE: DDD) recently released their first-quarter 2022 reports. 3D Systems $133.0 million, down 9% from the year-ago period (and up 10%, excluding the impact of divestitures) Stratasys $163.4 million, up 22% from the year-ago period Data sources: Company earnings reports. 3D Systems ($0.21), down from $0.36 in the year-ago period Stratasys ($0.32), flat with ($0.32) in the year-ago period Data sources: Company earnings reports.
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Stratasys (NASDAQ: SSYS) and 3D Systems (NYSE: DDD) recently released their first-quarter 2022 reports. 3D Systems $133.0 million, down 9% from the year-ago period (and up 10%, excluding the impact of divestitures) Stratasys $163.4 million, up 22% from the year-ago period Data sources: Company earnings reports. 3D Systems ($0.06), down from $0.17 in the year-ago period Stratasys $0.02, up from ($0.06) in the year-ago period Data sources: Company earnings reports.
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Stratasys (NASDAQ: SSYS) and 3D Systems (NYSE: DDD) recently released their first-quarter 2022 reports. Neither company is profitable from a GAAP standpoint and that's certainly something investors would like to see, at least during most quarters. Data sources: Company earnings reports.
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b3a09abc-09b5-42be-ad10-2ecd171c0d0d
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716498.0
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2022-05-17 00:00:00 UTC
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Stratasys Stock Jumps 13% on Earnings and Revenue Beats
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DDD
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https://www.nasdaq.com/articles/stratasys-stock-jumps-13-on-earnings-and-revenue-beats
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nan
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nan
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Shares of Stratasys (NASDAQ: SSYS) gained 12.7% on Tuesday, following the 3D printing company's release of its first-quarter 2022 results on the prior afternoon.
No doubt, the stock got a brisk tailwind from overall market dynamics, as the S&P 500 and tech-heavy Nasdaq Composite rose 2% and 2.2%, respectively, on Tuesday. Moreover, shares of rival 3D Systems popped 6.6% on no news.
However, a sizable portion of Stratasys stock's surge is attributable to the company's first-quarter revenue and earnings coming in higher than the Wall Street consensus estimates. Investors were also probably at least satisfied that management slightly increased the midpoint of its full-year 2022 revenue guidance and reiterated its 2022 earnings outlook.
Image source: Getty Images.
Stratasys' key numbers
METRIC Q1 2022 Q1 2021 CHANGE
Revenue $163.4 million $134.2 million 22%
GAAP operating income ($19.6 million) ($18.4 million) Loss widened 6.5%
Adjusted operating income $2.0 million ($2.6 million) Result flipped to positive from negative
GAAP net income ($20.9 million) ($18.9 million) Loss widened 11%
Adjusted net income $1.2 million ($3.8 million) Result flipped to positive from negative
GAAP earnings per share (EPS) ($0.32) ($0.32) --
Adjusted EPS $0.02 ($0.06) Result flipped to positive from negative
Data source: Stratasys. GAAP = generally accepted accounting principles.
Investors should focus on the adjusted numbers, as they exclude one-time items.
Wall Street was looking for an adjusted loss per share of $0.04 on revenue of $157.6 million, as outlined in my earnings preview. So, the company surpassed both expectations. It also topped its own revenue guidance, which was for year-over-year growth in the high-teens percentage range. It did not provide an earnings outlook.
GAAP gross margin was 42.6%, up from 41.4% in the year-ago period. Adjusted gross margin landed at 47.3%, up from 46.7%.
The company used cash of $16.1 million running its operations during the quarter, compared with generating cash of $22.8 million in the year-ago period. It attributed the decline to higher inventory purchasing and an increase in accounts receivable. It ended the quarter with $475.6 million in cash and cash equivalents.
For context, in the fourth quarter of 2021, Stratasys' revenue jumped 17% to $167 million, beating the $165 million Wall Street had expected.
Segment results driven by 3D printer sales
SEGMENT Q1 2022 REVENUE CHANGE (YOY)
Product $113.1 million 25%
Service $50.4 million 15%
Total $163.4 million 22%
Data source: Stratasys. YOY = year over year.
Within the product segment, 3D printer ("system") revenue jumped 37% year over year, and consumables (print materials) revenue grew 16%.
"Our strong start to the year, with our highest first-quarter revenue total in six years, was anchored by 22% revenue growth that included improved contributions from all our technologies. Importantly, systems was the main driver, up 36.7% for its strongest first quarter in five years, and 16.4% higher than the same period in pre-COVID 2019," CEO Yoav Zeif said in the earnings release.
Guidance
For the second quarter, management guided for year-over-year revenue growth in the low to mid-teen percentage range.
For full-year 2022, the company now expects revenue in the range of $685 million to $695 million, representing annual growth of about 13% to 15%. This range represents a tightening of the prior range of $680 million to $695 million, with the midpoint now $2.5 million higher.
Management reaffirmed its prior 2022 adjusted earnings guidance of $0.14 per share to $0.19 per share. In 2021, it posted an adjusted loss of $0.07 per share.
Encouraging revenue growth
Stratasys' first-quarter revenue growth was solid. Its robust sales of 3D printers is a particularly encouraging sign because 3D printer sales drive sales of print materials, which have higher profit margins. That said, investors shouldn't get carried away. The company was barely profitable from an adjusted standpoint and remains unprofitable from a GAAP basis. Moreover, it used -- rather than generated -- cash running its operations during the quarter.
10 stocks we like better than Stratasys
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Stratasys wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of April 7, 2022
Beth McKenna has no position in any of the stocks mentioned. The Motley Fool recommends 3D Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Stratasys (NASDAQ: SSYS) gained 12.7% on Tuesday, following the 3D printing company's release of its first-quarter 2022 results on the prior afternoon. However, a sizable portion of Stratasys stock's surge is attributable to the company's first-quarter revenue and earnings coming in higher than the Wall Street consensus estimates. Importantly, systems was the main driver, up 36.7% for its strongest first quarter in five years, and 16.4% higher than the same period in pre-COVID 2019," CEO Yoav Zeif said in the earnings release.
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Revenue $163.4 million $134.2 million 22% GAAP operating income ($19.6 million) ($18.4 million) Loss widened 6.5% Adjusted operating income $2.0 million ($2.6 million) Result flipped to positive from negative GAAP net income ($20.9 million) ($18.9 million) Loss widened 11% Adjusted net income $1.2 million ($3.8 million) Result flipped to positive from negative GAAP earnings per share (EPS) ($0.32) ($0.32) -- Adjusted EPS $0.02 ($0.06) Result flipped to positive from negative Data source: Stratasys. Product $113.1 million 25% Service $50.4 million 15% Total $163.4 million 22% Data source: Stratasys. Within the product segment, 3D printer ("system") revenue jumped 37% year over year, and consumables (print materials) revenue grew 16%.
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Revenue $163.4 million $134.2 million 22% GAAP operating income ($19.6 million) ($18.4 million) Loss widened 6.5% Adjusted operating income $2.0 million ($2.6 million) Result flipped to positive from negative GAAP net income ($20.9 million) ($18.9 million) Loss widened 11% Adjusted net income $1.2 million ($3.8 million) Result flipped to positive from negative GAAP earnings per share (EPS) ($0.32) ($0.32) -- Adjusted EPS $0.02 ($0.06) Result flipped to positive from negative Data source: Stratasys. Product $113.1 million 25% Service $50.4 million 15% Total $163.4 million 22% Data source: Stratasys. This range represents a tightening of the prior range of $680 million to $695 million, with the midpoint now $2.5 million higher.
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Investors were also probably at least satisfied that management slightly increased the midpoint of its full-year 2022 revenue guidance and reiterated its 2022 earnings outlook. Within the product segment, 3D printer ("system") revenue jumped 37% year over year, and consumables (print materials) revenue grew 16%. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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26c42ac8-328f-4008-9d61-8d1c821b8016
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716499.0
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2022-05-13 00:00:00 UTC
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New Strong Sell Stocks for May 13th
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DDD
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https://www.nasdaq.com/articles/new-strong-sell-stocks-for-may-13th
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nan
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nan
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Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
3D Systems Corporation DDD provides 3D printing and digital manufacturing solutions. The Zacks Consensus Estimate for its current year earnings has been revised 45.5% downward over the last 60 days.
Amarin Corporation plc AMRN is a pharmaceuticals company. The Zacks Consensus Estimate for its current year earnings has been revised 1500% downward over the last 60 days.
Becton, Dickinson and Company BDX is a manufacturer of medical supplies, devices, laboratory equipment, and diagnostic products. The Zacks Consensus Estimate for its current year earnings has been revised 13.3% downward over the last 60 days.
View the entire Zacks Rank #5 List.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Becton, Dickinson and Company (BDX): Free Stock Analysis Report
3D Systems Corporation (DDD): Free Stock Analysis Report
Amarin Corporation PLC (AMRN): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: 3D Systems Corporation DDD provides 3D printing and digital manufacturing solutions. 3D Systems Corporation (DDD): Free Stock Analysis Report Becton, Dickinson and Company BDX is a manufacturer of medical supplies, devices, laboratory equipment, and diagnostic products.
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3D Systems Corporation (DDD): Free Stock Analysis Report Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: 3D Systems Corporation DDD provides 3D printing and digital manufacturing solutions. Becton, Dickinson and Company (BDX): Free Stock Analysis Report
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Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: 3D Systems Corporation DDD provides 3D printing and digital manufacturing solutions. 3D Systems Corporation (DDD): Free Stock Analysis Report The Zacks Consensus Estimate for its current year earnings has been revised 45.5% downward over the last 60 days.
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3D Systems Corporation (DDD): Free Stock Analysis Report Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: 3D Systems Corporation DDD provides 3D printing and digital manufacturing solutions. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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523961b7-9b52-4b15-8cb2-a84716fb7f39
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