DENTSPLY SIRONA (NASDAQ:XRAY) Hits New 12-Month Low Following Analyst Downgrade

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) hit 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 traded. The stock had previously closed at $24.41.

XRAY has been the topic of a number of other reports. Robert W. Baird reduced their price target on shares of DENTSPLY SIRONA from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Barrington Research reissued an “outperform” rating and set a $36.00 price target on shares of DENTSPLY SIRONA in a research report on Friday, September 20th. Stifel Nicolaus reduced their price target on shares of DENTSPLY SIRONA from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Finally, Evercore ISI reduced their price target 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. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Institutional Investors Weigh In On DENTSPLY SIRONA

Several institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its position in DENTSPLY SIRONA by 2.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 23,545 shares of the medical instruments supplier’s stock valued at $637,000 after acquiring an additional 560 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in DENTSPLY SIRONA by 43.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,038 shares of the medical instruments supplier’s stock valued at $326,000 after buying an additional 3,671 shares during the last quarter. Osborne Partners Capital Management LLC increased its stake in DENTSPLY SIRONA by 1.1% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 332,423 shares of the medical instruments supplier’s stock valued at $8,995,000 after buying an additional 3,556 shares during the last quarter. Allworth Financial LP increased its stake in DENTSPLY SIRONA by 40.2% in the 3rd quarter. Allworth Financial LP now owns 2,179 shares of the medical instruments supplier’s stock valued at $59,000 after buying an additional 625 shares during the last quarter. Finally, Country Club Bank acquired a new stake in DENTSPLY SIRONA in the 3rd quarter valued at $4,084,000. 95.70% of the stock is owned by institutional investors.

DENTSPLY SIRONA Stock Down 4.5 %

The company has a current ratio of 1.33, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The firm’s 50 day simple moving average is $25.22 and its 200-day simple moving average is $26.52. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of -27.10, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00.

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

DENTSPLY SIRONA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.16 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.64 annualized dividend and a yield of 2.75%. 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.