DENTSPLY SIRONA (NASDAQ:XRAY) Hits New 1-Year Low Following Analyst Downgrade

DENTSPLY SIRONA Inc. (NASDAQ:XRAY)’s share price reached a new 52-week low on Wednesday after Evercore ISI lowered their price target on the stock from $35.00 to $28.00. Evercore ISI currently has an outperform rating on the stock. DENTSPLY SIRONA traded as low as $24.82 and last traded at $25.20, with a volume of 465459 shares changing hands. The stock had previously closed at $25.01.

A number of other research firms also recently weighed in on XRAY. The Goldman Sachs Group reduced their price target on DENTSPLY SIRONA from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Robert W. Baird decreased their target price on shares of DENTSPLY SIRONA from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. StockNews.com lowered shares of DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Barrington Research reduced their price objective on shares of DENTSPLY SIRONA from $41.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $32.00 target price (down previously from $35.00) on shares of DENTSPLY SIRONA in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.44.

Insiders Place Their Bets

In other DENTSPLY SIRONA news, Director Gregory T. Lucier acquired 3,577 shares of the business’s stock in a transaction on Friday, May 31st. The shares were acquired at an average price of $27.95 per share, with a total value of $99,977.15. Following the completion of the transaction, the director now owns 58,374 shares in the company, valued at $1,631,553.30. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of DENTSPLY SIRONA

Several hedge funds have recently added to or reduced their stakes in the stock. Bar Harbor Wealth Management bought a new stake in shares of DENTSPLY SIRONA in the 4th quarter worth approximately $4,931,000. DAVENPORT & Co LLC bought a new position in DENTSPLY SIRONA during the fourth quarter worth about $1,220,000. Dimensional Fund Advisors LP increased its stake in shares of DENTSPLY SIRONA by 10.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,122,355 shares of the medical instruments supplier’s stock worth $75,535,000 after purchasing an additional 197,431 shares in the last quarter. Power Corp of Canada bought a new stake in shares of DENTSPLY SIRONA in the fourth quarter valued at approximately $4,380,000. Finally, Generation Investment Management LLP lifted its stake in shares of DENTSPLY SIRONA by 43.4% during the 4th quarter. Generation Investment Management LLP now owns 6,598,211 shares of the medical instruments supplier’s stock valued at $234,830,000 after buying an additional 1,998,012 shares in the last quarter. Institutional investors own 95.70% of the company’s stock.

DENTSPLY SIRONA Stock Performance

The company’s fifty day moving average is $27.94 and its 200 day moving average is $31.81. The company has a current ratio of 1.43, a quick ratio of 0.97 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $5.22 billion, a P/E ratio of -57.18, a P/E/G ratio of 1.12 and a beta of 1.04.

DENTSPLY SIRONA (NASDAQ:XRAY) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.42 earnings per share for the quarter, meeting 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 company had revenue of $953.00 million during the quarter, compared to analysts’ expectations of $969.45 million. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that DENTSPLY SIRONA Inc. will post 2.02 earnings per share for the current year.

DENTSPLY SIRONA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.64 annualized dividend and a yield of 2.54%. DENTSPLY SIRONA’s dividend payout ratio (DPR) is presently -145.45%.

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.