DENTSPLY SIRONA (NASDAQ:XRAY) Reaches New 52-Week Low at $23.85

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $23.85 and last traded at $24.13, with a volume of 2323311 shares changing hands. The stock had previously closed at $24.15.

Analyst Ratings Changes

XRAY has been the topic of several research reports. Piper Sandler reaffirmed a “neutral” rating and set a $32.00 price target (down previously from $35.00) on shares of DENTSPLY SIRONA in a research note on Friday, May 3rd. Evercore ISI cut their price target on DENTSPLY SIRONA from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. StockNews.com lowered DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. The Goldman Sachs Group dropped their price objective on DENTSPLY SIRONA from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Finally, Stifel Nicolaus dropped their price objective on DENTSPLY SIRONA from $30.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 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 stock presently has an average rating of “Moderate Buy” and an average price target of $33.44.

DENTSPLY SIRONA Stock Down 1.9 %

The firm has a fifty day simple moving average of $26.05 and a 200-day simple moving average of $29.84. The company has a market capitalization of $4.92 billion, a P/E ratio of -54.89, a P/E/G ratio of 1.23 and a beta of 1.01. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 0.57.

DENTSPLY SIRONA (NASDAQ:XRAY) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). DENTSPLY SIRONA had a positive return on equity of 11.86% and a negative net margin of 4.75%. The business had revenue of $984.00 million during the quarter, compared to the consensus estimate of $993.61 million. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts expect that DENTSPLY SIRONA Inc. will post 1.98 EPS for the current fiscal year.

DENTSPLY SIRONA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.70%. DENTSPLY SIRONA’s payout ratio is presently -145.45%.

Insider Buying and Selling

In related news, Director Gregory T. Lucier purchased 3,577 shares of DENTSPLY SIRONA stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $27.95 per share, with a total value of $99,977.15. Following the completion of the transaction, the director now owns 58,374 shares of the company’s stock, valued at approximately $1,631,553.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in DENTSPLY SIRONA by 44.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 141,117 shares of the medical instruments supplier’s stock worth $4,684,000 after purchasing an additional 43,230 shares during the last quarter. Seven Eight Capital LP acquired a new stake in DENTSPLY SIRONA during the 1st quarter worth approximately $1,409,000. Illinois Municipal Retirement Fund lifted its holdings in DENTSPLY SIRONA by 369.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 123,580 shares of the medical instruments supplier’s stock worth $4,102,000 after purchasing an additional 97,281 shares during the last quarter. Intech Investment Management LLC acquired a new stake in DENTSPLY SIRONA during the 1st quarter worth approximately $1,202,000. Finally, Duality Advisers LP acquired a new stake in DENTSPLY SIRONA during the 1st quarter worth approximately $1,166,000. 95.70% of the stock is owned by institutional investors and hedge funds.

DENTSPLY SIRONA Company Profile

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.