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

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) hit a new 52-week low during mid-day trading 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 research analysts have also recently issued reports on XRAY. Evercore ISI cut their target price on shares of DENTSPLY SIRONA from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Robert W. Baird reduced their price objective on DENTSPLY SIRONA from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Barrington Research restated an “outperform” rating and issued a $36.00 target price on shares of DENTSPLY SIRONA in a research note on Friday, September 20th. Finally, 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. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Hedge Funds Weigh In On DENTSPLY SIRONA

Hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in DENTSPLY SIRONA by 430.3% during the 3rd quarter. UMB Bank n.a. now owns 928 shares of the medical instruments supplier’s stock valued at $25,000 after purchasing an additional 753 shares during the period. LRI Investments LLC lifted its holdings in DENTSPLY SIRONA by 82.7% in the second 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 bought a new position in DENTSPLY SIRONA in the second quarter valued at approximately $32,000. Allworth Financial LP grew its holdings in DENTSPLY SIRONA by 40.2% during the 3rd 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. Finally, Central Pacific Bank Trust Division bought a new stake in shares of DENTSPLY SIRONA during the 1st quarter valued at $64,000. Institutional investors own 95.70% of the company’s stock.

DENTSPLY SIRONA Stock Performance

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 company has a market cap of $4.73 billion, a price-to-earnings ratio of -27.33, a P/E/G ratio of 1.17 and a beta of 1.00. The stock has a 50 day moving average price of $25.26 and a two-hundred day moving average price of $26.58.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its earnings results 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). DENTSPLY SIRONA had a negative net margin of 4.75% and a positive return on equity of 11.86%. The company had revenue of $984.00 million during the quarter, compared to analyst estimates of $993.61 million. During the same period in the previous year, the company posted $0.51 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Analysts predict that DENTSPLY SIRONA Inc. will post 1.98 EPS for the current year.

DENTSPLY SIRONA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, September 27th. DENTSPLY SIRONA’s payout ratio is -74.42%.

DENTSPLY SIRONA Company Profile

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.