Needham & Company LLC Cuts DENTSPLY SIRONA (NASDAQ:XRAY) Price Target to $36.00

DENTSPLY SIRONA (NASDAQ:XRAY) had its target price cut by Needham & Company LLC from $42.00 to $36.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s target price suggests a potential upside of 27.25% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Piper Sandler upped their price objective on DENTSPLY SIRONA from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, January 12th. StockNews.com raised DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. Robert W. Baird cut their price objective on DENTSPLY SIRONA from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday. Leerink Partnrs reaffirmed an “outperform” rating on shares of DENTSPLY SIRONA in a research report on Monday, February 26th. Finally, Barrington Research reiterated an “outperform” rating and set a $41.00 price target on shares of DENTSPLY SIRONA in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.90.

DENTSPLY SIRONA Stock Performance

Shares of DENTSPLY SIRONA stock opened at $28.29 on Friday. DENTSPLY SIRONA has a one year low of $26.27 and a one year high of $41.65. The business’s 50 day moving average price is $32.13 and its 200 day moving average price is $32.71. The company has a current ratio of 1.43, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54.

DENTSPLY SIRONA (NASDAQ:XRAY) last announced its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. DENTSPLY SIRONA had a negative net margin of 2.41% and a positive return on equity of 11.54%. The firm had revenue of $953.00 million during the quarter, compared to analyst estimates of $969.45 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. DENTSPLY SIRONA’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, research analysts forecast that DENTSPLY SIRONA will post 2.04 earnings per share for the current fiscal year.

Institutional Trading of DENTSPLY SIRONA

A number of large investors have recently modified their holdings of XRAY. Vanguard Group Inc. grew its stake in DENTSPLY SIRONA by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,250,443 shares of the medical instruments supplier’s stock worth $862,555,000 after purchasing an additional 369,213 shares in the last quarter. Nuance Investments LLC increased its stake in shares of DENTSPLY SIRONA by 30.4% during the fourth quarter. Nuance Investments LLC now owns 11,603,889 shares of the medical instruments supplier’s stock worth $412,982,000 after buying an additional 2,702,457 shares during the period. First Eagle Investment Management LLC raised its holdings in 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 acquiring an additional 120,508 shares in the last quarter. Wellington Management Group LLP lifted its stake in 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 acquiring an additional 1,419,503 shares during the last quarter. Finally, Cooke & Bieler LP grew its holdings in DENTSPLY SIRONA by 18.3% during the 4th quarter. Cooke & Bieler LP now owns 7,061,910 shares of the medical instruments supplier’s stock worth $251,333,000 after acquiring an additional 1,092,922 shares in the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.

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.