EDEN PRAIRIE, Minn. & REHOVOT, Israel - Stratasys Ltd. (NASDAQ: NASDAQ:SSYS), a leader in polymer 3D printing solutions, has announced an exclusive partnership with Select Additive Technologies, a division of Morris Group, Inc. This collaboration positions Stratasys as the sole provider of polymer 3D printing technologies to Select Additive's customer base across the United States.
Select Additive Technologies, leveraging Morris Group's extensive experience in the metalworking industry, aims to facilitate the integration of additive manufacturing into the production strategies of its customers. This move is expected to address challenges such as cost reduction, supply chain optimization, and carbon footprint minimization.
Brent Noonan, President of Americas Regions at Stratasys, expressed enthusiasm about the partnership, highlighting the potential for polymer additive manufacturing to enhance manufacturing efficiency and part performance. Greg Bebbington, Business Unit Manager at Select Additive Technologies, echoed this sentiment, emphasizing the demand for innovative solutions among their clientele.
The agreement includes the provision of Stratasys's full suite of 3D polymer printers, along with the necessary software and materials, to enable a wide range of applications from prototyping to mass production of polymer parts.
Stratasys has established itself as a significant player in the additive manufacturing industry, offering 3D printing solutions to various sectors, including aerospace, automotive, consumer products, and healthcare. On the other hand, Select Additive Technologies brings to the table its expertise in metalworking and a commitment to advancing additive manufacturing technologies.
This collaboration is based on a press release statement from Stratasys Ltd.
InvestingPro Insights
Stratasys Ltd. (NASDAQ: SSYS), while fostering new partnerships and expanding its market presence, has maintained a financial posture that warrants investor attention. With a market capitalization of approximately $674.49 million, the company's strategic moves are backed by a solid balance sheet, holding more cash than debt, as per an InvestingPro Tip. This financial stability is crucial as Stratasys delves into partnerships like the one with Select Additive Technologies, ensuring it has the liquidity to support such ventures.
Investors might find the company's current valuation metrics interesting. Stratasys trades with a Price to Book ratio of 0.85 as of the last twelve months ending Q4 2023, indicating that the stock might be undervalued compared to the assets the company holds. This could be seen as an opportunity for those looking to invest in a company that has the potential for growth, especially as it expands its reach in the 3D printing sector.
Another InvestingPro Tip highlights that analysts are optimistic about Stratasys' future profitability, predicting the company will turn a profit this year. This is a significant turnaround, considering that the company was not profitable over the last twelve months. Additionally, while the company does not pay dividends, this reinvestment into the business could be a driving factor for future growth, which may be appealing for growth-focused investors.
For those considering adding Stratasys to their portfolio, InvestingPro offers more insights, including a total of 9 InvestingPro Tips for SSYS, which can be accessed for a deeper analysis. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which could provide a more comprehensive understanding of Stratasys' investment potential.
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