Infosys Jumps on Strong Revenue, Guidance
Shares of Infosys Ltd ADR (NYSE:INFY) are up by more than 8.75% this afternoon after the release of the company’s fourth quarter of fiscal year 2016 financial results on Thursday afternoon. The results show that the IT services provider pulled in EPS of $0.23, in-line with estimates, on revenue of $2.45 billion, up by 13.4% year-over-year and $20 million above consensus expectations. Guidance was also strong: management expects revenue to grow by 11.5%-to-13.5% in constant currency terms for the 2017 fiscal year.
By the end of the fourth quarter, 21 funds among those we track were long Infosys Ltd ADR (NYSE:INFY). The largest stake was held by Ken Fisher’s Fisher Asset Management, which disclosed ownership of 21.9 million shares worth roughly $366 million as of December 31.
Interim Phase II Study Data Sends Regulus Down
On the other hand, there’s Regulus Therapeutics Inc (NASDAQ:RGLS), which is down by more than 13% this afternoon following the announcement of interim data from Phase 2 studies for RG-101 for the treatment of chronic hepatitis C virus (HCV) infection. While the market was punishing the stock on the back of the published results, analysts were defending the company. Wedbush analysts assured that the interim results had reached primary endpoints, while Cowen’s Eric Schmidt argued that “Additional RG-101 Phase II Data Continues To Look Solid.”
13 funds among those in our database held long positions in Regulus Therapeutics Inc (NASDAQ:RGLS) at the end of 2015, with their stakes accounting for more than 10% of the company’s shares. RA Capital Management, a healthcare fund managed by Peter Kolchinsky, declared holding 3.48 million Regulus shares as of the end of 2015.
Stratasys Gives Back Yesterday’s Gains After Downgrade
Finally, there’s Stratasys, Ltd. (NASDAQ:SSYS), which is down by almost 11% today after Citi analyst Kenneth Wong shared a bearish update on the 3D printing market. The expert downgraded Stratasys to ‘Neutral’ on ‘Buy’ on limited near-term upside potential, arguing that he believes “good enough results” won’t be sufficient “with the recent boost in sentiment, and with industry checks still soft.” The firm issued a $30 price target on the stock, which now represents 15% upside given its struggles today. The downgrade comes just a day after Stratasys jumped on positive sentiment for the 3D printing industry after 3D Systems Corporation (NYSE:DDD) was upgraded to ‘Buy’ by Bank of America Merrill Lynch. 3D Systems has also retreated today, down by 6%.
At the end of 2015, 17 funds among those that we track were long Stratasys, Ltd. (NASDAQ:SSYS), with the largest stake, amounting to 2.1 million shares, being held by Ken Fisher’s Fisher Asset Management.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned in this article.