3D Systems (NYSE: DDD), a technology company focused on manufacturing 3D devices, recently revealed that it has entered into a partnership with Enhatch Inc, the developer of the Intelligent Surgery Ecosystem.
Following the news, shares of the company rose marginally to close at $15.85 in yesterday’s extended trading session.
The partnership will give 3D Systems access to Enhatch’s Intelligent Surgery Ecosystem, which ensures the streamlining and scaling of the design and delivery of patient-specific medical devices by automating the process. This will allow 3D Systems to efficiently cater to the growing demand of medical devices.
Meanwhile, Enhatch stands to benefit from 3D Systems’ expertise in surgical planning solutions to reduce surgical time and other complexities. This will allow the companies to create an optimized, automated and scalable medical device workflow.
Management Commentary
The Executive Vice-President of Healthcare Solutions at 3D Systems, Menno Ellis, said, “Our partnership with Enhatch will enable us to deliver the healthcare industry’s most comprehensive approach to additive manufacturing. Integrating these technologies and capabilities into 3D Systems’ surgical planning solutions will make processes more efficient, trackable, and cost-effective.”
Stock Rating
Consensus among analysts is a Hold based on one Buy, four Holds and two Sells. 3D Systems’ average price target of $21.50 implies upside potential of 35.8% from current levels. Shares have declined 35.8% over the past year.
Insider Trading Activity
TipRanks’ Insider Trading Activity tool shows that confidence in 3D Systems is currently Very Negative based on informative transactions by five insiders over the past three months. Corporate Insiders have sold shares worth $1.3 million over this period.
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