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

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) shares reached 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 trading hands. The stock had previously closed at $24.41.

Other equities analysts also recently issued reports about the company. Evercore ISI cut their target price on 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 research note on Friday, September 20th. Stifel Nicolaus decreased their target price on DENTSPLY SIRONA from $30.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Finally, Robert W. Baird cut their price target on shares of DENTSPLY SIRONA from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, DENTSPLY SIRONA currently has an average rating of “Moderate Buy” and an average target price of $32.67.

Hedge Funds Weigh In On DENTSPLY SIRONA

Institutional investors have recently made changes to their positions in the company. First Eagle Investment Management LLC grew its position in DENTSPLY SIRONA by 33.6% during the second quarter. First Eagle Investment Management LLC now owns 13,069,900 shares of the medical instruments supplier’s stock valued at $325,571,000 after buying an additional 3,283,965 shares during the period. SG Americas Securities LLC grew its position in shares of DENTSPLY SIRONA by 2,959.1% during the 1st quarter. SG Americas Securities LLC now owns 1,373,421 shares of the medical instruments supplier’s stock valued at $45,584,000 after acquiring an additional 1,328,525 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of DENTSPLY SIRONA by 42.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,420,445 shares of the medical instruments supplier’s stock valued at $110,118,000 after purchasing an additional 1,308,411 shares in the last quarter. Cooke & Bieler LP raised its holdings in DENTSPLY SIRONA by 16.2% in the 2nd quarter. Cooke & Bieler LP now owns 7,506,845 shares of the medical instruments supplier’s stock worth $186,996,000 after purchasing an additional 1,046,105 shares during the period. Finally, Edmond DE Rothschild Holding S.A. boosted its position in DENTSPLY SIRONA by 398.2% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,025,200 shares of the medical instruments supplier’s stock worth $34,026,000 after purchasing an additional 819,400 shares in the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

DENTSPLY SIRONA Stock Performance

The company 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. The firm has a fifty 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 results on Wednesday, July 31st. The medical instruments supplier reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The company had revenue of $984.00 million during the quarter, compared to analyst estimates of $993.61 million. DENTSPLY SIRONA had a negative net margin of 4.75% and a positive return on equity of 11.86%. DENTSPLY SIRONA’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. On average, analysts anticipate that DENTSPLY SIRONA Inc. will post 1.98 earnings per share for the current fiscal year.

DENTSPLY SIRONA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.16 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 2.75%. DENTSPLY SIRONA’s dividend payout ratio is presently -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.