DENTSPLY SIRONA (NASDAQ:XRAY) Downgraded by StockNews.com to Hold
DENTSPLY SIRONA (NASDAQ:XRAY – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
XRAY has been the subject of a number of other research reports. Morgan Stanley reduced their price objective on DENTSPLY SIRONA from $43.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Stifel Nicolaus dropped their target price on DENTSPLY SIRONA from $35.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, November 13th. Barrington Research dropped their target price on DENTSPLY SIRONA from $51.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Piper Sandler dropped their target price on DENTSPLY SIRONA from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, September 22nd. Finally, Needham & Company LLC initiated coverage on DENTSPLY SIRONA in a report on Thursday, November 16th. They issued a “buy” rating and a $35.00 target price on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.89.
Get Our Latest Report on DENTSPLY SIRONA
DENTSPLY SIRONA Stock Down 1.7 %
XRAY stock traded down $0.55 during trading on Tuesday, hitting $32.18. 3,170,180 shares of the company’s stock were exchanged, compared to its average volume of 2,216,287. The business has a 50-day moving average price of $31.11 and a two-hundred day moving average price of $35.79. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -31.86, a PEG ratio of 2.24 and a beta of 0.97. DENTSPLY SIRONA has a 52-week low of $26.27 and a 52-week high of $43.24. The company has a current ratio of 1.57, a quick ratio of 1.04 and a debt-to-equity ratio of 0.53.
DENTSPLY SIRONA (NASDAQ:XRAY – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. DENTSPLY SIRONA had a positive return on equity of 10.91% and a negative net margin of 5.44%. The company had revenue of $947.00 million during the quarter, compared to analysts’ expectations of $975.21 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts expect that DENTSPLY SIRONA will post 1.82 EPS for the current year.
DENTSPLY SIRONA declared that its board has authorized a stock buyback program on Thursday, November 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to purchase up to 16.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Insider Buying and Selling
In other DENTSPLY SIRONA news, Director Gregory T. Lucier bought 10,000 shares of DENTSPLY SIRONA stock in a transaction that occurred on Wednesday, November 22nd. The shares were purchased at an average cost of $31.44 per share, for a total transaction of $314,400.00. Following the completion of the transaction, the director now owns 43,121 shares of the company’s stock, valued at approximately $1,355,724.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On DENTSPLY SIRONA
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York Life Investment Management LLC increased its stake in DENTSPLY SIRONA by 31.6% during the second quarter. New York Life Investment Management LLC now owns 42,259 shares of the medical instruments supplier’s stock worth $1,691,000 after acquiring an additional 10,139 shares during the last quarter. Bank of New York Mellon Corp increased its stake in DENTSPLY SIRONA by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 2,096,220 shares of the medical instruments supplier’s stock worth $83,891,000 after acquiring an additional 110,152 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in shares of DENTSPLY SIRONA in the second quarter valued at about $1,370,000. National Bank of Canada FI grew its stake in shares of DENTSPLY SIRONA by 1,334.6% in the second quarter. National Bank of Canada FI now owns 214,410 shares of the medical instruments supplier’s stock valued at $8,491,000 after buying an additional 199,464 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in DENTSPLY SIRONA by 13.3% during the 2nd quarter. Quantinno Capital Management LP now owns 45,362 shares of the medical instruments supplier’s stock valued at $1,815,000 after purchasing an additional 5,338 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors and hedge funds.
DENTSPLY SIRONA Company Profile (Get Free Report)
DENTSPLY SIRONA Inc manufactures and sells various dental products and technologies for professional dental market worldwide. The company operates through two segments, Technologies & Equipment, and Consumables. The Technologies & Equipment segment provides dental equipment, such as treatment centers, imaging equipment, motorized dental handpieces, and other instruments for dental practitioners and specialists; dental CAD/CAM technologies for dental offices to support various digital dental procedures, including dental restorations; dentist-directed aligner solutions, SureSmile, and direct-to-consumer clear aligner solutions, as well as high frequency vibration technology device; implants; and urology catheters and other healthcare-related consumable products.
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Original: MarketBeat News Feed: DENTSPLY SIRONA (NASDAQ:XRAY) Downgraded by StockNews.com to Hold