DENTSPLY SIRONA (NASDAQ:XRAY) Hits New 12-Month Low - Here's What Happened

DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as $15.47 and last traded at $15.45, with a volume of 431125 shares traded. The stock had previously closed at $15.91.

Analyst Ratings Changes

XRAY has been the subject of a number of analyst reports. StockNews.com lowered DENTSPLY SIRONA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Wells Fargo & Company decreased their price objective on DENTSPLY SIRONA from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Morgan Stanley cut their target price on DENTSPLY SIRONA from $30.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Evercore ISI restated an "in-line" rating and issued a $20.00 price target on shares of DENTSPLY SIRONA in a report on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DENTSPLY SIRONA in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, DENTSPLY SIRONA has an average rating of "Hold" and a consensus target price of $23.33.

DENTSPLY SIRONA Stock Performance

The company has a market capitalization of $3.02 billion, a PE ratio of -7.31, a PEG ratio of 1.80 and a beta of 0.98. The firm has a 50-day moving average of $18.28 and a two-hundred day moving average of $20.93. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.

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DENTSPLY SIRONA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Friday, March 28th. DENTSPLY SIRONA's dividend payout ratio is currently -14.07%.

Insider Activity at DENTSPLY SIRONA

In other news, Director Gregory T. Lucier bought 15,142 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $16.51 per share, with a total value of $249,994.42. Following the purchase, the director now directly owns 81,971 shares in the company, valued at $1,353,341.21. The trade was a 22.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On DENTSPLY SIRONA

A number of large investors have recently added to or reduced their stakes in XRAY. Riverview Trust Co acquired a new position in shares of DENTSPLY SIRONA during the 4th quarter worth about $26,000. Colonial Trust Co SC acquired a new position in shares of DENTSPLY SIRONA during the fourth quarter valued at approximately $26,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of DENTSPLY SIRONA by 648.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,422 shares of the medical instruments supplier's stock valued at $27,000 after acquiring an additional 1,232 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of DENTSPLY SIRONA by 60.8% in the fourth quarter. UMB Bank n.a. now owns 1,492 shares of the medical instruments supplier's stock worth $28,000 after acquiring an additional 564 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of DENTSPLY SIRONA by 700.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,792 shares of the medical instruments supplier's stock worth $33,000 after purchasing an additional 1,568 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors and hedge funds.

DENTSPLY SIRONA Company Profile

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.