Company Update (NASDAQ:SSYS): Stratasys, Ltd. Announces Annual General Meeting of Shareholders

Stratasys, Ltd. (NASDAQ:SSYS) announced that it will hold its Annual General Meeting of Shareholders (the “Meeting”) on Friday, October 9, 2015, at 9:00 a.m. U.S. Central Time, at the Stratasys NASH Building, 9600 West 76th Street, Eden Prairie, Minnesota. The record date for shareholders entitled to vote at the Annual Meeting is Friday, September 4, 2015.

The agenda for the Meeting is as follows:

  1. The election of each of Mr. Elchanan Jaglom, Mr. S. Scott Crump, Mr. David Reis, Mr. Edward J. Fierko, Mr. Ilan Levin, Mr. John J. McEleney, Ms. Ziva Patir, and Mr. Clifford H. Schwieter to serve as a director of the Company until the 2016 annual general meeting of shareholders and until his or her successor is duly elected and qualified, or until his or her earlier resignation, replacement or removal.
  2. The approval of the payment of a cash bonus of $480,645 (approximately 1,885,000 New Israeli Shekels) to Mr. David Reis, the Company’s Chief Executive Officer and a director, in respect of his performance for the year ended December 31, 2014, as determined and approved by the compensation committee of the Company’s board of directors and by the Company’s board of directors (the “Board“) pursuant to their authority under Mr. Reis’ existing employment agreement, the Company’s Compensation Policy for Executive Officers and Directors, and the Israeli Companies Law, 5759-1999.
  3. The reappointment of Kesselman & Kesselman, a member of PricewaterhouseCoopers International Limited, as the Company’s independent auditors for the year ending December 31, 2015 and until the Company’s next annual general meeting of shareholders, and authorization of the Board (upon recommendation of the audit committee of the Board) to fix their remuneration.

At the annual meeting, the Company will also discuss its financial statements for the year ended December 31, 2014 and transact of such other business as may properly come before the Meeting or any postponement or adjournment thereof.

Whether or not you attend the Meeting, your vote is important. Accordingly, you are asked to participate and vote regardless of the number of ordinary shares you own.

Approval of each of the proposals above requires the affirmative vote of the holders of a majority of the voting power represented at the Meeting in person or by proxy and voting on the proposal (excluding abstentions).

The approval of Proposal 2 is also subject to satisfaction of one of the following, additional voting requirements:

  • the majority voted in favor of the proposal must include a majority of the shares held by shareholders who are neither controlling shareholders nor have a personal interest in the approval of the proposal that are voted at the meeting, excluding abstentions; or
  • the total number of shares held by non-controlling, disinterested shareholders (as described in the previous bullet-point) voted against the proposal must not exceed 2% of the aggregate voting power in the Company.

Any two or more shareholders holding, in the aggregate, at least 25% of the voting rights in the Company constitutes a quorum for purposes of the Meeting. In the absence of the requisite quorum of shareholders at the Meeting, the Meeting will be adjourned to the same day in the next week, at the same time and place, unless otherwise determined at the Meeting in accordance with the Company’s Amended and Restated Articles of Association, as amended.(Original Source)

Shares of Stratasys closed last Friday at $30.02. SSYS has a 1-year high of $130.83 and a 1-year low of $25.31. The stock’s 50-day moving average is $31.42 and its 200-day moving average is $43.30.

On the ratings front, Stratasys has been the subject of a number of recent research reports. In a report issued on August 4, J.P. Morgan analyst Paul Coster upgraded SSYS to Buy, with a price target of $42, which implies an upside of 39.9% from current levels. Separately, on July 31, UBS’s Peter Christiansen downgraded the stock to Sell .

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Paul Coster and Peter Christiansen have a total average return of -2.2% and 19.5% respectively. Coster has a success rate of 46.5% and is ranked #3239 out of 3743 analysts, while Christiansen has a success rate of 83.3% and is ranked #1271.

Overall, 7 research analysts have assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $50.50 which is 68.2% above where the stock closed last Friday.

Stratasys Ltd provides additive manufacturing solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts. It offers 3D printers and 3D production systems.

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