DENTSPLY SIRONA (NASDAQ:XRAY) Sets New 12-Month Low on Analyst Downgrade

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) reached a new 52-week low on Wednesday after Evercore ISI lowered their price target on the stock from $35.00 to $28.00. Evercore ISI currently has an outperform rating on the stock. DENTSPLY SIRONA traded as low as $24.82 and last traded at $25.20, with a volume of 465459 shares. The stock had previously closed at $25.01.

A number of other research analysts have also weighed in on the stock. Needham & Company LLC cut their target price on shares of DENTSPLY SIRONA from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. The Goldman Sachs Group cut their price objective on shares of DENTSPLY SIRONA from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. SVB Leerink started coverage on shares of DENTSPLY SIRONA in a research report on Monday, February 26th. They set an “outperform” rating and a $42.00 price objective for the company. Robert W. Baird cut their price objective on shares of DENTSPLY SIRONA from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, Barrington Research cut their price objective on shares of DENTSPLY SIRONA from $41.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.44.

Insiders Place Their Bets

In other news, Director Gregory T. Lucier acquired 3,577 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were purchased at an average cost of $27.95 per share, with a total value of $99,977.15. Following the completion of the purchase, the director now owns 58,374 shares of the company’s stock, valued at $1,631,553.30. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On DENTSPLY SIRONA

Several large investors have recently bought and sold shares of the business. Bar Harbor Wealth Management acquired a new stake in DENTSPLY SIRONA in the fourth quarter worth $4,931,000. DAVENPORT & Co LLC acquired a new stake in DENTSPLY SIRONA in the fourth quarter worth $1,220,000. Dimensional Fund Advisors LP raised its holdings in DENTSPLY SIRONA by 10.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,122,355 shares of the medical instruments supplier’s stock worth $75,535,000 after purchasing an additional 197,431 shares during the period. Power Corp of Canada acquired a new stake in DENTSPLY SIRONA in the fourth quarter worth $4,380,000. Finally, Generation Investment Management LLP raised its holdings in DENTSPLY SIRONA by 43.4% in the fourth quarter. Generation Investment Management LLP now owns 6,598,211 shares of the medical instruments supplier’s stock worth $234,830,000 after purchasing an additional 1,998,012 shares during the period. 95.70% of the stock is currently owned by institutional investors and hedge funds.

DENTSPLY SIRONA Trading Up 0.5 %

The company’s fifty day simple moving average is $27.83 and its two-hundred day simple moving average is $31.77. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of -57.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.04.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. DENTSPLY SIRONA had a negative net margin of 2.41% and a positive return on equity of 11.54%. The business had revenue of $953.00 million for the quarter, compared to analyst estimates of $969.45 million. During the same period last year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Research analysts forecast that DENTSPLY SIRONA Inc. will post 2.02 earnings per share for the current fiscal year.

DENTSPLY SIRONA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.53%. DENTSPLY SIRONA’s payout ratio is -145.45%.

About DENTSPLY SIRONA

DENTSPLY SIRONA Inc manufactures and sells various dental products and technologies worldwide. It operates in four segments: Connected Technology Solutions, Essential Dental Solutions, Orthodontic and Implant Solutions, and Wellspect Healthcare. The company offers dental equipment comprising imaging equipment, motorized dental handpieces, treatment centers, other instruments, amalgamators, mixing machines, and porcelain furnaces; and dental CAD/CAM technologies to support dental restorations, such as intraoral scanners, 3-D printers, mills, other software and services, and a full-chairside economical restoration of esthetic ceramic dentistry, as well as DS Core, its cloud-based platform.