3D System remains strong despite most business shifting digitally

3D Systems is a company that focuses on "printing". Their line of business engineers, manufactures, and sells 3D printers, 3D printing equipment and materials, and even 3D printing service.
 
CENTRAL, Hong Kong - June 8, 2021 - PRLog -- The company's technologies and services are often used in the development, design and production of different industries, such as aerospace automotive, dental, entertainment, healthcare and ever durable goods.

In 2020, the 3D Systems stocks (DDD) have been trading almost flat for a whole year without much change. However, since Jan 2021, the stocks started climbing and the reason behind are several factors. The 2020 Q4 earnings report showing better than expected was the starting boost that the company received, which reflects Q4 revenue of about 3% to 7% exceeding analyst estimates by as much as 24% at midpoint range, allowing their stocks to jump start on January 7 of 2021.

4th quarter profits also went above the expected $140 million to the revenue amounting $170 million to $176 million. The increase that day was more than 100% and served as a great take off pad for the stocks.

The second boost it received was the announcement they made to focus and expand efforts on their development to bioprinting solutions and regenerative medicine primarily used for organ transplants. This announcement not only boosted the stock value, it sent DDD up high.

The company mentioned that their shift in focus was driven primarily by their tremendous progress and success on regenerative medicine, especially on the development of application for nonsolid organ.

3D Systems mentioned that their progress on bioprinting and regenerative medicine was reached with the help of the collaboration with United Therapeutics (UTHR) and its subsidiary company that focuses on organ manufacturing and transplantation, Lung Biotechnology. While DDD stocks were on the rise, UTHR was slightly dropping at that time.

Despite these, both companies declared that they will continue the partnership to develop solid organ scaffolds, mainly used for human transplants, through a multiyear collaboration, and they will likely begin with lung scaffolds as this is the part they have more information on. As such, the stocks have recently stabilized and is climbing up in value due to their current progress.

For more latest news in US Stock Market, you may also visit us at Millennium Capital Management (Hong Kong) Limited through our website https://millennium-capital.com/ or contact us via email.

Contact
Millennium Capital Management (Hong Kong) Limited
***@millennium-capital.com
End
Email:***@millennium-capital.com
Posted By:***@millennium-capital.com Email Verified
Tags:Millennium Capital Management
Industry:Investment
Location:Central - Hong Kong Island - Hong Kong
Subject:Reports
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Millennium Capital Management (Hong Kong) Limited PRs
Trending News
Most Viewed
Top Daily News



Like PRLog?
9K2K1K
Click to Share