DENTSPLY SIRONA (NASDAQ:XRAY) Stock Price Up 10.5% Following Strong Earnings

DENTSPLY SIRONA Inc. (NASDAQ:XRAY)’s share price traded up 10.5% on Thursday following a stronger than expected earnings report. The company traded as high as $15.28 and last traded at $15.12. 1,413,214 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 2,955,625 shares. The stock had previously closed at $13.68.

The medical instruments supplier reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. DENTSPLY SIRONA had a negative net margin of 10.59% and a positive return on equity of 12.62%. The firm had revenue of $879.00 million for the quarter, compared to analyst estimates of $854.75 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year.

DENTSPLY SIRONA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Friday, March 28th. DENTSPLY SIRONA’s payout ratio is presently -14.07%.

Analysts Set New Price Targets

A number of research firms have issued reports on XRAY. Barrington Research decreased their price objective on DENTSPLY SIRONA from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Robert W. Baird decreased their target price on shares of DENTSPLY SIRONA from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Jefferies Financial Group downgraded DENTSPLY SIRONA from a “buy” rating to a “hold” rating and cut their price target for the stock from $30.00 to $20.00 in a research note on Thursday, January 23rd. Piper Sandler cut their target price on DENTSPLY SIRONA from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Finally, Mizuho cut their price objective on shares of DENTSPLY SIRONA from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.27.

Insiders Place Their Bets

In other news, Director Gregory T. Lucier acquired 15,142 shares of DENTSPLY SIRONA stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $16.51 per share, with a total value of $249,994.42. Following the completion of the purchase, the director now directly owns 81,971 shares in the company, valued at approximately $1,353,341.21. This trade represents a 22.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On DENTSPLY SIRONA

Several institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its position in DENTSPLY SIRONA by 292.1% in the first quarter. Deutsche Bank AG now owns 61,645 shares of the medical instruments supplier’s stock worth $921,000 after buying an additional 45,925 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of DENTSPLY SIRONA by 1,657.9% during the first quarter. Headlands Technologies LLC now owns 98,109 shares of the medical instruments supplier’s stock valued at $1,466,000 after buying an additional 92,528 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of DENTSPLY SIRONA by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,108,014 shares of the medical instruments supplier’s stock worth $31,494,000 after buying an additional 6,881 shares during the period. Vanguard Group Inc. lifted its stake in shares of DENTSPLY SIRONA by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 20,740,589 shares of the medical instruments supplier’s stock worth $309,864,000 after acquiring an additional 557,329 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in DENTSPLY SIRONA by 347.5% in the 1st quarter. Bank of Nova Scotia now owns 84,254 shares of the medical instruments supplier’s stock valued at $1,259,000 after acquiring an additional 65,426 shares during the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.

DENTSPLY SIRONA Stock Performance

The firm has a market capitalization of $3.15 billion, a P/E ratio of -7.64, a P/E/G ratio of 1.80 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.84. The firm has a 50-day moving average price of $14.36 and a two-hundred day moving average price of $17.63.

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.