Jeffrey A. Graves, President and CEO of 3D Systems Corp (NYSE:DDD), recently acquired 60,000 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The purchase comes as the company's stock shows strong momentum, with returns of 13% in the past week and the stock trading at $3.57, according to InvestingPro data. The shares were purchased at an average price of $3.85 each, totaling approximately $231,000. Following this transaction, Graves holds 1,091,782 shares in the company. This purchase was made through multiple transactions, with prices ranging from $3.84 to $3.85. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with 12 additional ProTips available to subscribers about the company's financial health and market position.
In other recent news, 3D Systems has experienced a decrease in revenue, reporting a 9% year-over-year decline for the third quarter of 2024 to $112.9 million. This decline is attributed to global economic and geopolitical challenges impacting capital expenditure across industries. Despite this, the company's healthcare segment has seen growth, particularly in dental and personalized healthcare. Furthermore, Lake Street Capital Markets has maintained a Buy rating for 3D Systems, expressing confidence in the company's ability to navigate these challenges. The firm anticipates that the tailwinds in additive manufacturing will continue to support the sector, despite the current headwinds faced by the broader economy. These are recent developments for 3D Systems, which has introduced nearly 40 new products and expanded in healthcare with new FDA clearances and growth in AI-driven applications. The company anticipates a modest recovery in the latter half of 2024 and has set its full-year revenue targets between $440-$450 million.
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