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

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

XRAY has been the subject of a number of other research reports. StockNews.com raised shares of DENTSPLY SIRONA from a hold rating to a buy rating in a report on Friday, January 19th. SVB Leerink initiated coverage on DENTSPLY SIRONA in a research report on Monday, February 26th. They set an outperform rating and a $42.00 target price for the company. Leerink Partnrs reaffirmed an outperform rating on shares of DENTSPLY SIRONA in a research note on Monday, February 26th. Piper Sandler lifted their price objective on DENTSPLY SIRONA from $31.00 to $35.00 and gave the stock a neutral rating in a research report on Friday, January 12th. Finally, Barrington Research restated an outperform rating and set a $41.00 target price on shares of DENTSPLY SIRONA in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $36.90.

DENTSPLY SIRONA Stock Performance

NASDAQ:XRAY opened at $28.29 on Friday. The stock has a market capitalization of $5.87 billion, a P/E ratio of -64.29, a price-to-earnings-growth ratio of 1.15 and a beta of 1.00. DENTSPLY SIRONA has a 1 year low of $26.27 and a 1 year high of $41.65. The firm has a 50 day moving average of $32.13 and a 200-day moving average of $32.71. The company has a current ratio of 1.43, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $953.00 million for the quarter, compared to the consensus estimate of $969.45 million. DENTSPLY SIRONA had a negative net margin of 2.41% and a positive return on equity of 11.54%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, sell-side analysts anticipate that DENTSPLY SIRONA will post 2.05 EPS for the current fiscal year.

DENTSPLY SIRONA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from DENTSPLY SIRONA’s previous quarterly dividend of $0.14. DENTSPLY SIRONA’s dividend payout ratio is presently -145.45%.

Institutional Trading of DENTSPLY SIRONA

Large investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in DENTSPLY SIRONA in the first quarter valued at about $655,000. Central Pacific Bank Trust Division bought a new position in shares of DENTSPLY SIRONA during the 1st quarter valued at about $64,000. Financial Counselors Inc. grew its position in shares of DENTSPLY SIRONA by 4.2% in the 1st quarter. Financial Counselors Inc. now owns 218,576 shares of the medical instruments supplier’s stock valued at $7,255,000 after purchasing an additional 8,793 shares during the period. FORA Capital LLC acquired a new position in shares of DENTSPLY SIRONA in the first quarter valued at approximately $771,000. Finally, Daiwa Securities Group Inc. increased its position in shares of DENTSPLY SIRONA by 7.9% during the first quarter. Daiwa Securities Group Inc. now owns 17,652 shares of the medical instruments supplier’s stock worth $585,000 after acquiring an additional 1,296 shares in the last quarter. 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.