DENTSPLY SIRONA (NASDAQ:XRAY) Hits New 12-Month Low Following Analyst Downgrade

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) shares hit a new 52-week low on Thursday after Stifel Nicolaus lowered their price target on the stock from $41.00 to $35.00. Stifel Nicolaus currently has a hold rating on the stock. DENTSPLY SIRONA traded as low as $26.27 and last traded at $28.09, with a volume of 981480 shares traded. The stock had previously closed at $30.84.

Several other research firms have also commented on XRAY. StockNews.com lowered DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley dropped their target price on shares of DENTSPLY SIRONA from $47.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 20th. Piper Sandler reduced their price objective on DENTSPLY SIRONA from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, September 22nd. Evercore ISI reduced their price target on shares of DENTSPLY SIRONA from $45.00 to $36.00 in a research report on Wednesday, October 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $51.00 price objective on shares of DENTSPLY SIRONA in a research note on Friday, August 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.88.

Institutional Investors Weigh In On DENTSPLY SIRONA

Institutional investors have recently made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of DENTSPLY SIRONA by 5.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,950 shares of the medical instruments supplier’s stock worth $237,000 after buying an additional 359 shares during the period. California Public Employees Retirement System raised its holdings in shares of DENTSPLY SIRONA by 3.7% in the third quarter. California Public Employees Retirement System now owns 408,499 shares of the medical instruments supplier’s stock valued at $13,954,000 after buying an additional 14,713 shares during the last quarter. Duality Advisers LP increased its holdings in shares of DENTSPLY SIRONA by 530.1% in the third quarter. Duality Advisers LP now owns 68,560 shares of the medical instruments supplier’s stock valued at $2,342,000 after purchasing an additional 57,680 shares during the period. Empirical Finance LLC boosted its holdings in DENTSPLY SIRONA by 10.9% in the 3rd quarter. Empirical Finance LLC now owns 7,208 shares of the medical instruments supplier’s stock valued at $246,000 after purchasing an additional 707 shares in the last quarter. Finally, Beck Bode LLC purchased a new stake in shares of DENTSPLY SIRONA in the third quarter valued at approximately $659,000. 95.70% of the stock is currently owned by institutional investors and hedge funds.

DENTSPLY SIRONA Price Performance

The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $33.86 and a two-hundred day moving average of $37.60. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -5.98, a price-to-earnings-growth ratio of 1.74 and a beta of 0.99.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings results on Thursday, November 2nd. The medical instruments supplier reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. DENTSPLY SIRONA had a positive return on equity of 10.29% and a negative net margin of 26.04%. The company had revenue of $947.00 million during the quarter, compared to the consensus estimate of $975.21 million. During the same quarter last year, the business posted $0.41 earnings per share. DENTSPLY SIRONA’s revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that DENTSPLY SIRONA Inc. will post 1.97 earnings per share for the current year.

DENTSPLY SIRONA Company Profile

DENTSPLY SIRONA Inc manufactures and sells various dental products and technologies for professional dental market worldwide. The company operates through two segments, Technologies & Equipment, and Consumables. The Technologies & Equipment segment provides dental equipment, such as treatment centers, imaging equipment, motorized dental handpieces, and other instruments for dental practitioners and specialists; dental CAD/CAM technologies for dental offices to support various digital dental procedures, including dental restorations; dentist-directed aligner solutions, SureSmile, and direct-to-consumer clear aligner solutions, as well as high frequency vibration technology device; implants; and urology catheters and other healthcare-related consumable products.