Evercore ISI Lowers DENTSPLY SIRONA (NASDAQ:XRAY) Price Target to $35.00

DENTSPLY SIRONA (NASDAQ:XRAY) had its price target cut by stock analysts at Evercore ISI from $40.00 to $35.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Evercore ISI’s price objective would suggest a potential upside of 23.72% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Piper Sandler reaffirmed a “neutral” rating and set a $32.00 target price (down previously from $35.00) on shares of DENTSPLY SIRONA in a research report on Friday. SVB Leerink started coverage on DENTSPLY SIRONA in a research note on Monday, February 26th. They issued an “outperform” rating and a $42.00 target price on the stock. StockNews.com upgraded shares of DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Needham & Company LLC lowered their price target on shares of DENTSPLY SIRONA from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Friday. Finally, 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. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.90.

DENTSPLY SIRONA Price Performance

NASDAQ:XRAY opened at $28.29 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.43 and a debt-to-equity ratio of 0.54. DENTSPLY SIRONA has a 1-year low of $26.27 and a 1-year high of $41.65. The company has a 50-day moving average of $32.13 and a 200 day moving average of $32.71.

DENTSPLY SIRONA (NASDAQ:XRAY) last posted its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. DENTSPLY SIRONA had a negative net margin of 2.41% and a positive return on equity of 11.54%. The business had revenue of $953.00 million during the quarter, compared to analyst estimates of $969.45 million. During the same quarter in the previous year, the business posted $0.39 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. Research analysts anticipate that DENTSPLY SIRONA will post 2.04 EPS for the current fiscal year.

Institutional Investors Weigh In On DENTSPLY SIRONA

Several institutional investors and hedge funds have recently made changes to their positions in XRAY. Vanguard Group Inc. increased its position in shares of DENTSPLY SIRONA by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,250,443 shares of the medical instruments supplier’s stock valued at $862,555,000 after acquiring an additional 369,213 shares during the period. Nuance Investments LLC grew its stake in DENTSPLY SIRONA by 30.4% during the 4th quarter. Nuance Investments LLC now owns 11,603,889 shares of the medical instruments supplier’s stock valued at $412,982,000 after purchasing an additional 2,702,457 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of DENTSPLY SIRONA by 1.2% in the fourth quarter. First Eagle Investment Management LLC now owns 9,786,845 shares of the medical instruments supplier’s stock valued at $348,314,000 after purchasing an additional 120,508 shares during the period. Wellington Management Group LLP raised its stake in shares of DENTSPLY SIRONA by 21.1% in the fourth quarter. Wellington Management Group LLP now owns 8,138,253 shares of the medical instruments supplier’s stock worth $289,640,000 after purchasing an additional 1,419,503 shares during the last quarter. Finally, Cooke & Bieler LP lifted its holdings in shares of DENTSPLY SIRONA by 18.3% during the fourth quarter. Cooke & Bieler LP now owns 7,061,910 shares of the medical instruments supplier’s stock worth $251,333,000 after purchasing an additional 1,092,922 shares during the period. 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.