Yahoo Finance 3D Systems' (DDD) Oqton, Baker Hughes to Offer Software Suite
3D Systems’ DDD wholly-owned, independently operated subsidiary, Oqton, recently announced a technical and commercial software development agreement with Baker Hughes BKR, one of the world’s largest oilfield service providers based in Houston, TX to create an industrial digital ecosystem.
Per the agreement, the two companies will combine their expertise in engineering and manufacturing skills to transform the way products are brought to the market in highly regulated industries like energy, aerospace and healthcare. Baker Hughes intends to integrate Oqton’s Manufacturing Operating System (MOS) into its proprietary applications creating an enhanced additive manufacturing platform that will accelerate innovation in energy sector.
The newly developed software solution is likely to enhance the design and production of additively manufactured parts across the manufacturing workflow raising efficiency levels and facilitating regulatory compliance. Offered under Oqton brand, it will deliver full factory-floor workflow integration, automation, control and optimization from part design through final inspection.
3D Systems Corporation Price and Consensus
3D Systems Corporation price-consensus-chart | 3D Systems Corporation Quote
3D Systems acquired Oqton in 2021 to accelerate the adoption of additive manufacturing technologies and thereby, strengthen the manufacturing competitiveness. Oqton creates new breed of intelligent, cloud-based artificial-intelligence-enabled MOS platform which helps organizations improve production efficiencies while reducing costs. The MOS accelerates the automation of digital manufacturing. Its solution banks on AI, machine learning and Industrial-Internet-of-Things technologies that help organizations automate their digital manufacturing workflows.
3D Systems is anticipating material science to be a key driver in the transition to 3D production. DDD is investing large sums in material innovation across its portfolio to capitalize on this trend.
Going forward, 3D Systems expects its portfolio of innovative products to drive more than 30% organic growth over the next couple of years, thereby enhancing its margins and earnings.
Last month, the company unveiled ProJet MultiJet Printing (MJP) 2500W Plus, a 100% wax jewelry patterns 3D printer that delivers durable, high-quality jewelry patterns for reliable performance and results throughout existing lost-wax casting processes and equipment.
The 3D Systems’ ProJet MJP 2500W Plus enables high-volume production or rapid single-lane printing of pure wax casting patterns at fast print speeds to improve the casting room efficiency by decreasing the time, costs and geometric limitations of tooling. With a large build volume capacity and 24/7 operation, the high productivity of this affordable 3D printer implies fast amortization and a high return on investment.
In January, rms Company, the largest U.S.-based medical device manufacturer, integrated 3D Systems’ Direct Metal Printing (DMP) Flex 350 Dual printers into its contract manufacturing workflow to ensure an improvement in productivity standards by up to 50%. The company expects that this integration will help expand the types of implants it produce and accelerate throughput, thereby enabling it to cater to the evolving application needs of the medical industry.
The DMP Flex 350 Dual is the latest addition to 3D Systems’ DMP portfolio. The printer is designed for flexible application use in research and development projects, application development or serial production.
In 2022, the additive manufacturer formed a wholly-owned bioprinting startup, Systemic Bio, to accelerate the development of new drugs, which aims to aid in reducing or eliminating the need for animal testing. This is likely to expand DDD’s growth opportunities in the domain of pharmaceuticals and create a new revenue stream that could reach $100 million annually over the next five years.
Zacks Rank & Key Picks
Currently, 3D Systems and Baker Hughes carry a Zacks Rank #3 (Hold). Shares of DDD and BKR have plunged 25% and 23.9%, respectively, in the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Airbnb ABNB and Fabrinet FN, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from breakeven to 14 cents per share over the past 30 days. For 2023, earnings estimates have moved up by 52 cents to $3.38 in the past 30 days.
ABNB's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 16.3% in the past year.
The Zacks Consensus Estimate for Fabrinet's third-quarter fiscal 2023 earnings has been revised 7 cents upward to $1.90 per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by 24 cents to $7.71 in the past 30 days.
FN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing once, the average surprise being 5.1%. Shares of the company have jumped 20.1% in the past year.
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