DENTSPLY SIRONA (NASDAQ:XRAY) to Repurchase $1.00 billion in Stock

DENTSPLY SIRONA (NASDAQ:XRAY) declared that its board has approved a stock repurchase plan on Thursday, November 9th, RTT News reports. The company plans to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 16.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

DENTSPLY SIRONA Trading Down 1.7 %

Shares of NASDAQ:XRAY opened at $27.91 on Tuesday. The stock has a market capitalization of $5.91 billion, a PE ratio of -27.63, a P/E/G ratio of 1.96 and a beta of 0.99. DENTSPLY SIRONA has a 1 year low of $26.27 and a 1 year high of $43.24. The firm has a fifty day moving average price of $32.56 and a 200 day moving average price of $36.92. The company has a current ratio of 1.57, a quick ratio of 1.04 and a debt-to-equity ratio of 0.53.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings results on Thursday, November 2nd. The medical instruments supplier reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. DENTSPLY SIRONA had a negative net margin of 5.44% and a positive return on equity of 10.91%. The company had revenue of $947.00 million during the quarter, compared to analysts’ expectations of $975.21 million. During the same period in the prior year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. Analysts expect that DENTSPLY SIRONA will post 1.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

XRAY has been the topic of several research analyst reports. William Blair upgraded shares of DENTSPLY SIRONA from a “market perform” rating to an “outperform” rating in a report on Friday. Piper Sandler lowered their price target on shares of DENTSPLY SIRONA from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, September 22nd. StockNews.com upgraded shares of DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. The Goldman Sachs Group lowered their price target on shares of DENTSPLY SIRONA from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, November 7th. Finally, Barrington Research lowered their price target on shares of DENTSPLY SIRONA from $51.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.38.

About DENTSPLY SIRONA

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.