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

DENTSPLY SIRONA Inc. (NASDAQ:XRAY)’s share price reached a new 52-week low during mid-day trading on Friday after Wells Fargo & Company lowered their price target on the stock from $20.00 to $19.00. Wells Fargo & Company currently has an equal weight rating on the stock. DENTSPLY SIRONA traded as low as $17.09 and last traded at $17.15, with a volume of 6160723 shares trading hands. The stock had previously closed at $18.81.

Several other equities research analysts also recently weighed in on XRAY. Leerink Partnrs downgraded shares of DENTSPLY SIRONA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Evercore ISI reissued an “in-line” rating and issued a $20.00 target price on shares of DENTSPLY SIRONA in a research note on Tuesday, January 7th. Needham & Company LLC reduced their target price on shares of DENTSPLY SIRONA from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley reduced their target price on shares of DENTSPLY SIRONA from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Leerink Partners downgraded shares of DENTSPLY SIRONA from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $23.58.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in DENTSPLY SIRONA by 15,105.1% during the 4th quarter. Pacer Advisors Inc. now owns 4,503,591 shares of the medical instruments supplier’s stock worth $85,478,000 after acquiring an additional 4,473,972 shares in the last quarter. Nuance Investments LLC grew its holdings in DENTSPLY SIRONA by 25.0% during the 4th quarter. Nuance Investments LLC now owns 13,545,981 shares of the medical instruments supplier’s stock worth $257,103,000 after acquiring an additional 2,708,097 shares in the last quarter. Norges Bank bought a new position in DENTSPLY SIRONA during the 4th quarter worth about $45,730,000. AQR Capital Management LLC grew its holdings in DENTSPLY SIRONA by 245.1% during the 4th quarter. AQR Capital Management LLC now owns 2,893,023 shares of the medical instruments supplier’s stock worth $54,389,000 after acquiring an additional 2,054,767 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in DENTSPLY SIRONA by 18.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,549,242 shares of the medical instruments supplier’s stock worth $238,186,000 after acquiring an additional 1,975,404 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors.

DENTSPLY SIRONA Stock Down 3.5 %

The firm has a market capitalization of $3.29 billion, a P/E ratio of -8.00, a PEG ratio of 1.80 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.84 and a current ratio of 1.25. The business’s fifty day moving average price is $18.88 and its two-hundred day moving average price is $21.55.

DENTSPLY SIRONA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.87%. DENTSPLY SIRONA’s dividend payout ratio is currently -30.92%.

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.