DENTSPLY SIRONA (NASDAQ:XRAY) Sets New 52-Week Low After Analyst Downgrade

DENTSPLY SIRONA Inc. (NASDAQ:XRAY)’s share price reached a new 52-week low on Friday after Needham & Company LLC lowered their price target on the stock from $34.00 to $29.00. Needham & Company LLC currently has a buy rating on the stock. DENTSPLY SIRONA traded as low as $22.85 and last traded at $23.37, with a volume of 714347 shares changing hands. The stock had previously closed at $24.41.

A number of other brokerages also recently commented on XRAY. Stifel Nicolaus lowered their price objective on DENTSPLY SIRONA from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Evercore ISI dropped their price objective on shares of DENTSPLY SIRONA from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Barrington Research restated an “outperform” rating and issued a $36.00 price objective on shares of DENTSPLY SIRONA in a report on Friday, September 20th. Finally, Robert W. Baird lowered their target price on shares of DENTSPLY SIRONA from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Hedge Funds Weigh In On DENTSPLY SIRONA

Several institutional investors have recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of DENTSPLY SIRONA by 430.3% in the third quarter. UMB Bank n.a. now owns 928 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 753 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of DENTSPLY SIRONA by 82.7% in the 2nd quarter. LRI Investments LLC now owns 1,246 shares of the medical instruments supplier’s stock valued at $31,000 after buying an additional 564 shares during the period. Rothschild Investment LLC purchased a new stake in shares of DENTSPLY SIRONA in the second quarter valued at approximately $32,000. Central Pacific Bank Trust Division purchased a new stake in shares of DENTSPLY SIRONA in the first quarter valued at approximately $64,000. Finally, Allworth Financial LP grew its holdings in DENTSPLY SIRONA by 40.2% during the third quarter. Allworth Financial LP now owns 2,179 shares of the medical instruments supplier’s stock worth $59,000 after acquiring an additional 625 shares during the period. 95.70% of the stock is owned by institutional investors and hedge funds.

DENTSPLY SIRONA Price Performance

The stock has a market cap of $4.73 billion, a PE ratio of -27.10, a PEG ratio of 1.17 and a beta of 1.00. The company has a 50-day simple moving average of $25.22 and a 200-day simple moving average of $26.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 0.87.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). The firm had revenue of $984.00 million during the quarter, compared to analysts’ expectations of $993.61 million. DENTSPLY SIRONA had a negative net margin of 4.75% and a positive return on equity of 11.86%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. Sell-side analysts anticipate that DENTSPLY SIRONA Inc. will post 1.98 EPS for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Friday, September 27th. DENTSPLY SIRONA’s payout ratio is currently -74.42%.

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.