Needham & Company LLC Lowers DENTSPLY SIRONA (NASDAQ:XRAY) Price Target to $23.00

DENTSPLY SIRONA (NASDAQ:XRAY) had its price target lowered by analysts at Needham & Company LLC from $25.00 to $23.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s price objective points to a potential upside of 38.97% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Barrington Research cut their target price on shares of DENTSPLY SIRONA from $36.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Robert W. Baird cut their target price on shares of DENTSPLY SIRONA from $31.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Leerink Partners cut shares of DENTSPLY SIRONA from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Evercore ISI reaffirmed an “in-line” rating and set a $20.00 target price on shares of DENTSPLY SIRONA in a research note on Tuesday, January 7th. Finally, Morgan Stanley cut their target price on shares of DENTSPLY SIRONA from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DENTSPLY SIRONA has an average rating of “Hold” and a consensus price target of $23.58.

DENTSPLY SIRONA Stock Performance

Shares of NASDAQ XRAY opened at $16.55 on Friday. The stock has a market cap of $3.29 billion, a PE ratio of -8.00, a price-to-earnings-growth ratio of 1.80 and a beta of 0.96. The firm has a fifty day moving average price of $18.83 and a 200-day moving average price of $21.50. DENTSPLY SIRONA has a 1 year low of $16.21 and a 1 year high of $34.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.84.

Hedge Funds Weigh In On DENTSPLY SIRONA

Several large investors have recently made changes to their positions in XRAY. Pacer Advisors Inc. increased its holdings in DENTSPLY SIRONA by 15,105.1% in the 4th quarter. Pacer Advisors Inc. now owns 4,503,591 shares of the medical instruments supplier’s stock worth $85,478,000 after acquiring an additional 4,473,972 shares in the last quarter. Nuance Investments LLC grew its holdings in shares of DENTSPLY SIRONA by 25.0% in the fourth quarter. Nuance Investments LLC now owns 13,545,981 shares of the medical instruments supplier’s stock valued at $257,103,000 after purchasing an additional 2,708,097 shares during the period. Norges Bank purchased a new stake in shares of DENTSPLY SIRONA in the fourth quarter valued at about $45,730,000. AQR Capital Management LLC lifted its position in DENTSPLY SIRONA by 245.1% in the fourth quarter. AQR Capital Management LLC now owns 2,893,023 shares of the medical instruments supplier’s stock valued at $54,389,000 after buying an additional 2,054,767 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of DENTSPLY SIRONA by 18.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,549,242 shares of the medical instruments supplier’s stock worth $238,186,000 after purchasing an additional 1,975,404 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors and hedge funds.

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.