Short Interest in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Decreases By 14.8%

DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Get Free Report) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 16,350,000 shares, a decline of 14.8% from the September 30th total of 19,180,000 shares. Based on an average daily trading volume, of 2,610,000 shares, the days-to-cover ratio is presently 6.3 days. Currently, 8.1% of the company's stock are short sold.

DENTSPLY SIRONA Price Performance

Shares of NASDAQ XRAY traded up $0.30 during mid-day trading on Monday, reaching $23.61. The company's stock had a trading volume of 1,742,235 shares, compared to its average volume of 2,959,859. The firm has a market capitalization of $4.79 billion, a PE ratio of -27.45, a P/E/G ratio of 1.12 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 0.87. The stock has a fifty day moving average of $25.22 and a two-hundred day moving average of $26.43. DENTSPLY SIRONA has a 52 week low of $22.85 and a 52 week high of $37.60.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $984.00 million during the quarter, compared to the consensus estimate of $993.61 million. DENTSPLY SIRONA had a positive return on equity of 11.86% and a negative net margin of 4.75%. The business's revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $0.51 EPS. As a group, sell-side analysts anticipate that DENTSPLY SIRONA will post 1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on XRAY. Stifel Nicolaus decreased their price target on DENTSPLY SIRONA from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Thursday, July 18th. Robert W. Baird decreased their price target on DENTSPLY SIRONA from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Monday, July 22nd. Evercore ISI decreased their price target on DENTSPLY SIRONA from $29.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday, October 8th. Needham & Company LLC cut their price objective on DENTSPLY SIRONA from $34.00 to $29.00 and set a "buy" rating for the company in a report on Friday. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of DENTSPLY SIRONA in a report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $32.67.

Institutional Investors Weigh In On DENTSPLY SIRONA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. raised its position in DENTSPLY SIRONA by 4.9% during the second quarter. Raymond James Trust N.A. now owns 9,658 shares of the medical instruments supplier's stock valued at $241,000 after purchasing an additional 453 shares during the period. State of Alaska Department of Revenue raised its position in DENTSPLY SIRONA by 2.4% during the third quarter. State of Alaska Department of Revenue now owns 23,545 shares of the medical instruments supplier's stock valued at $637,000 after purchasing an additional 560 shares during the period. LRI Investments LLC raised its position in DENTSPLY SIRONA by 82.7% during the second quarter. LRI Investments LLC now owns 1,246 shares of the medical instruments supplier's stock valued at $31,000 after purchasing an additional 564 shares during the period. Diversified Trust Co raised its holdings in shares of DENTSPLY SIRONA by 3.0% in the second quarter. Diversified Trust Co now owns 19,637 shares of the medical instruments supplier's stock worth $489,000 after buying an additional 566 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of DENTSPLY SIRONA by 40.2% in the third quarter. Allworth Financial LP now owns 2,179 shares of the medical instruments supplier's stock worth $59,000 after buying an additional 625 shares during the period. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

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.