Needham & Company LLC Cuts DENTSPLY SIRONA (NASDAQ:XRAY) Price Target to $36.00

DENTSPLY SIRONA (NASDAQ:XRAY) had its price target decreased by Needham & Company LLC from $42.00 to $36.00 in a report published on Friday, Benzinga reports. Needham & Company LLC currently has a buy rating on the medical instruments supplier’s stock.

XRAY has been the topic of several other reports. Robert W. Baird decreased their price target on shares of DENTSPLY SIRONA from $35.00 to $33.00 and set a neutral rating on the stock in a research report on Friday. Leerink Partnrs restated an outperform rating on shares of DENTSPLY SIRONA in a research note on Monday, February 26th. Barrington Research reaffirmed an outperform rating and issued a $41.00 price target on shares of DENTSPLY SIRONA in a report on Thursday, April 18th. Piper Sandler lifted their price objective on DENTSPLY SIRONA from $31.00 to $35.00 and gave the stock a neutral rating in a report on Friday, January 12th. Finally, SVB Leerink started coverage on DENTSPLY SIRONA in a research note on Monday, February 26th. They issued an outperform rating and a $42.00 target price for the company. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DENTSPLY SIRONA presently has a consensus rating of Moderate Buy and a consensus target price of $35.89.

DENTSPLY SIRONA Price Performance

NASDAQ XRAY opened at $28.29 on Friday. The stock has a 50-day simple moving average of $32.13 and a 200 day simple moving average of $32.71. DENTSPLY SIRONA has a twelve month low of $26.27 and a twelve month high of $41.65. The stock has a market capitalization of $5.87 billion, a PE ratio of -64.29, a P/E/G ratio of 1.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 1.43.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $953.00 million during the quarter, compared to analyst estimates of $969.45 million. DENTSPLY SIRONA had a positive return on equity of 11.54% and a negative net margin of 2.41%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. Research analysts anticipate that DENTSPLY SIRONA will post 2.04 EPS for the current year.

DENTSPLY SIRONA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, March 27th. This is a positive change from DENTSPLY SIRONA’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 2.26%. DENTSPLY SIRONA’s dividend payout ratio is -145.45%.

Institutional Trading of DENTSPLY SIRONA

Large investors have recently made changes to their positions in the business. Bar Harbor Wealth Management acquired a new stake in DENTSPLY SIRONA in the 4th quarter valued at about $4,931,000. DAVENPORT & Co LLC bought a new position in DENTSPLY SIRONA in the 4th quarter worth approximately $1,220,000. Andra AP fonden increased its stake in shares of DENTSPLY SIRONA by 20.3% in the 3rd quarter. Andra AP fonden now owns 302,700 shares of the medical instruments supplier’s stock valued at $10,340,000 after buying an additional 51,100 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of DENTSPLY SIRONA by 98.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 347,220 shares of the medical instruments supplier’s stock valued at $11,861,000 after buying an additional 171,958 shares during the period. Finally, Mirabella Financial Services LLP bought a new stake in shares of DENTSPLY SIRONA during the third quarter worth $802,000. Institutional investors own 95.70% of the company’s stock.

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.