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

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) hit a new 52-week low during mid-day trading on Wednesday after Piper Sandler lowered their price target on the stock from $20.00 to $16.00. Piper Sandler currently has a neutral rating on the stock. DENTSPLY SIRONA traded as low as $13.38 and last traded at $13.90, with a volume of 3680447 shares. The stock had previously closed at $13.95.

Several other brokerages also recently issued reports on XRAY. Mizuho reduced their price target on shares of DENTSPLY SIRONA from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Morgan Stanley cut shares of DENTSPLY SIRONA from an “overweight” rating to an “equal weight” rating and set a $14.00 target price for the company. in a research report on Tuesday, April 15th. Wells Fargo & Company dropped their price target on shares of DENTSPLY SIRONA from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Jefferies Financial Group downgraded DENTSPLY SIRONA from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $30.00 to $20.00 in a research report on Thursday, January 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DENTSPLY SIRONA in a research note on Thursday, March 13th. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.25.

Insider Buying and Selling at DENTSPLY SIRONA

In other DENTSPLY SIRONA news, Director Gregory T. Lucier bought 15,142 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $16.51 per share, for a total transaction of $249,994.42. Following the acquisition, the director now directly owns 81,971 shares of the company’s stock, valued at $1,353,341.21. This trade represents a 22.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of DENTSPLY SIRONA in the 1st quarter worth $25,000. Riverview Trust Co acquired a new position in shares of DENTSPLY SIRONA in the 4th quarter valued at $26,000. Colonial Trust Co SC purchased a new position in DENTSPLY SIRONA in the 4th quarter worth about $26,000. MassMutual Private Wealth & Trust FSB raised its holdings in DENTSPLY SIRONA by 648.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,422 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 1,232 shares during the period. Finally, UMB Bank n.a. lifted its stake in DENTSPLY SIRONA by 60.8% during the fourth quarter. UMB Bank n.a. now owns 1,492 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 564 shares in the last quarter. Institutional investors own 95.70% of the company’s stock.

DENTSPLY SIRONA Stock Performance

The firm’s fifty day simple moving average is $14.79 and its 200 day simple moving average is $18.11. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -6.71, a PEG 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.

DENTSPLY SIRONA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Friday, March 28th. DENTSPLY SIRONA’s dividend payout ratio is -14.07%.

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.