Needham & Company LLC Cuts DENTSPLY SIRONA (NASDAQ:XRAY) Price Target to $34.00

DENTSPLY SIRONA (NASDAQ:XRAY) had its target price reduced by Needham & Company LLC from $36.00 to $34.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of DENTSPLY SIRONA from a buy rating to a hold rating in a research note on Friday, May 3rd. Stifel Nicolaus decreased their price objective on shares of DENTSPLY SIRONA from $30.00 to $28.00 and set a hold rating on the stock in a research note on Thursday, July 18th. Piper Sandler restated a neutral rating and set a $32.00 target price (down from $35.00) on shares of DENTSPLY SIRONA in a research note on Friday, May 3rd. Robert W. Baird decreased their price target on DENTSPLY SIRONA from $33.00 to $31.00 and set a neutral rating on the stock in a research note on Monday, July 22nd. Finally, Barrington Research reissued an outperform rating and set a $38.00 price target on shares of DENTSPLY SIRONA in a report on Monday, July 8th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, DENTSPLY SIRONA presently has an average rating of Moderate Buy and an average target price of $33.44.

DENTSPLY SIRONA Trading Down 4.6 %

Shares of NASDAQ:XRAY opened at $25.49 on Wednesday. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of -57.93, a PEG ratio of 1.22 and a beta of 1.01. DENTSPLY SIRONA has a 12 month low of $23.94 and a 12 month high of $40.92. The company’s fifty day simple moving average is $26.22 and its 200 day simple moving average is $30.15. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 0.54.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). DENTSPLY SIRONA had a positive return on equity of 11.64% and a negative net margin of 4.75%. The firm had revenue of $984.00 million for the quarter, compared to analyst estimates of $993.61 million. During the same period last year, the company earned $0.51 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. As a group, research analysts forecast that DENTSPLY SIRONA will post 2.01 EPS for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 2.51%. DENTSPLY SIRONA’s payout ratio is -145.45%.

Insider Buying and Selling

In other news, Director Gregory T. Lucier bought 3,577 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was acquired at an average price of $27.95 per share, with a total value of $99,977.15. Following the transaction, the director now owns 58,374 shares of the company’s stock, valued at approximately $1,631,553.30. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.52% of the stock is owned by insiders.

Institutional Investors Weigh In On DENTSPLY SIRONA

Large investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in DENTSPLY SIRONA by 44.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 141,117 shares of the medical instruments supplier’s stock valued at $4,684,000 after buying an additional 43,230 shares during the period. Seven Eight Capital LP bought a new stake in shares of DENTSPLY SIRONA during the 1st quarter valued at about $1,409,000. Illinois Municipal Retirement Fund grew its stake in DENTSPLY SIRONA by 369.9% during the first quarter. Illinois Municipal Retirement Fund now owns 123,580 shares of the medical instruments supplier’s stock worth $4,102,000 after purchasing an additional 97,281 shares during the period. Intech Investment Management LLC bought a new stake in DENTSPLY SIRONA in the first quarter worth approximately $1,202,000. Finally, Duality Advisers LP acquired a new position in DENTSPLY SIRONA in the first quarter valued at approximately $1,166,000. 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.