DENTSPLY SIRONA (NASDAQ:XRAY) Hits New 52-Week Low Following Analyst Downgrade

DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday after Needham & Company LLC lowered their price target on the stock from $34.00 to $29.00. Needham & Company LLC currently has a buy rating on the stock. DENTSPLY SIRONA traded as low as $22.85 and last traded at $23.37, with a volume of 714347 shares changing hands. The stock had previously closed at $24.41.

Other research analysts also recently issued reports about the stock. Evercore ISI reduced their price objective on shares of DENTSPLY SIRONA from $29.00 to $27.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 8th. Barrington Research reiterated an "outperform" rating and issued a $36.00 price target on shares of DENTSPLY SIRONA in a research note on Friday, September 20th. Robert W. Baird lowered their price objective on DENTSPLY SIRONA from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Monday, July 22nd. Finally, Stifel Nicolaus decreased their target price on DENTSPLY SIRONA from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, July 18th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.67.

Institutional Trading of DENTSPLY SIRONA

A number of large investors have recently modified their holdings of XRAY. First Eagle Investment Management LLC grew its position in DENTSPLY SIRONA by 33.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,069,900 shares of the medical instruments supplier's stock worth $325,571,000 after purchasing an additional 3,283,965 shares during the last quarter. SG Americas Securities LLC grew its holdings in DENTSPLY SIRONA by 2,959.1% in the 1st quarter. SG Americas Securities LLC now owns 1,373,421 shares of the medical instruments supplier's stock worth $45,584,000 after buying an additional 1,328,525 shares in the last quarter. Dimensional Fund Advisors LP increased its position in DENTSPLY SIRONA by 42.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,420,445 shares of the medical instruments supplier's stock valued at $110,118,000 after acquiring an additional 1,308,411 shares during the period. Cooke & Bieler LP raised its stake in DENTSPLY SIRONA by 16.2% during the 2nd quarter. Cooke & Bieler LP now owns 7,506,845 shares of the medical instruments supplier's stock valued at $186,996,000 after acquiring an additional 1,046,105 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its position in DENTSPLY SIRONA by 398.2% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,025,200 shares of the medical instruments supplier's stock worth $34,026,000 after acquiring an additional 819,400 shares during the period. Institutional investors and hedge funds own 95.70% of the company's stock.

DENTSPLY SIRONA Stock Performance

The company has a market cap of $4.73 billion, a P/E ratio of -27.13, a PEG ratio of 1.17 and a beta of 1.00. The company has a quick ratio of 0.87, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $25.26 and a 200-day moving average price of $26.58.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.01). DENTSPLY SIRONA had a negative net margin of 4.75% and a positive return on equity of 11.86%. The company had revenue of $984.00 million during the quarter, compared to the consensus estimate of $993.61 million. During the same quarter in the prior year, the company earned $0.51 EPS. The business's quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts expect that DENTSPLY SIRONA Inc. will post 1.98 EPS for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.64 dividend on an annualized basis and a yield of 2.75%. DENTSPLY SIRONA's dividend payout ratio (DPR) is -74.42%.

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.