StockNews.com Downgrades DENTSPLY SIRONA (NASDAQ:XRAY) to Hold

DENTSPLY SIRONA (NASDAQ:XRAY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other equities analysts have also recently issued reports on the company. Piper Sandler restated a “neutral” rating and set a $32.00 price target (down from $35.00) on shares of DENTSPLY SIRONA in a report on Friday. Needham & Company LLC reduced their price target on shares of DENTSPLY SIRONA from $42.00 to $36.00 and set a “buy” rating for the company in a report on Friday. SVB Leerink began 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 on the stock. Barrington Research decreased their target price on DENTSPLY SIRONA from $41.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Robert W. Baird cut their price target on DENTSPLY SIRONA from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday. 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 an average rating of “Moderate Buy” and an average target price of $36.90.

DENTSPLY SIRONA Price Performance

XRAY stock opened at $28.29 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.43 and a debt-to-equity ratio of 0.54. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of -64.29, a PEG ratio of 1.15 and a beta of 1.00. The company’s fifty day simple moving average is $32.13 and its 200 day simple moving average is $32.71. DENTSPLY SIRONA has a 12-month low of $26.27 and a 12-month high of $41.65.

DENTSPLY SIRONA (NASDAQ:XRAY) last posted its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. DENTSPLY SIRONA had a positive return on equity of 11.54% and a negative net margin of 2.41%. The firm had revenue of $953.00 million during the quarter, compared to analyst estimates of $969.45 million. During the same period last year, the company posted $0.39 EPS. The business’s quarterly revenue was down 2.6% on a year-over-year basis. On average, analysts expect that DENTSPLY SIRONA will post 2.05 earnings per share for the current year.

Hedge Funds Weigh In On DENTSPLY SIRONA

Hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its holdings in DENTSPLY SIRONA by 41.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,504 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 439 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of DENTSPLY SIRONA by 5.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 89,835 shares of the medical instruments supplier’s stock worth $3,069,000 after buying an additional 4,294 shares during the last quarter. Xponance Inc. grew its holdings in shares of DENTSPLY SIRONA by 12.4% in the third quarter. Xponance Inc. now owns 37,292 shares of the medical instruments supplier’s stock valued at $1,274,000 after acquiring an additional 4,114 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of DENTSPLY SIRONA by 132.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,817 shares of the medical instruments supplier’s stock valued at $2,863,000 after acquiring an additional 47,748 shares during the last quarter. Finally, Strs Ohio lifted its holdings in DENTSPLY SIRONA by 14.6% during the third quarter. Strs Ohio now owns 47,167 shares of the medical instruments supplier’s stock worth $1,611,000 after acquiring an additional 6,021 shares during the period. 95.70% of the stock is owned by hedge funds and other institutional investors.

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.