Wells Fargo & Company Lowers DENTSPLY SIRONA (NASDAQ:XRAY) Price Target to $15.00

Key Points

• Wells Fargo & Company reduced the price target for DENTSPLY SIRONA from $16.00 to $15.00, maintaining an "equal weight" rating.
• DENTSPLY SIRONA recently reported a quarterly EPS of $0.52, exceeding analysts' expectations, but experienced a 4.9% decline in revenue compared to the prior year.
• Currently, the stock holds a consensus rating of "Hold" with an average target price of $19.00 among analysts.

DENTSPLY SIRONA (NASDAQ:XRAY - Free Report) had its target price reduced by Wells Fargo & Company from $16.00 to $15.00 in a report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the medical instruments supplier's stock.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a "hold" rating on shares of DENTSPLY SIRONA in a report on Monday, July 21st. Piper Sandler reduced their price objective on shares of DENTSPLY SIRONA from $20.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Morgan Stanley cut shares of DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 price objective for the company. in a report on Tuesday, April 15th. Wall Street Zen upgraded shares of DENTSPLY SIRONA from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Finally, UBS Group cut their price target on shares of DENTSPLY SIRONA from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $18.64.

DENTSPLY SIRONA Stock Up 4.2%

XRAY traded up $0.53 during midday trading on Friday, hitting $13.05. The company had a trading volume of 3,423,176 shares, compared to its average volume of 2,996,652. DENTSPLY SIRONA has a 52 week low of $12.16 and a 52 week high of $27.48. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -2.75, a PEG ratio of 0.80 and a beta of 0.94. The stock's 50 day moving average price is $15.64 and its 200 day moving average price is $15.82.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. DENTSPLY SIRONA had a negative net margin of 25.85% and a positive return on equity of 16.33%. The firm had revenue of $936.00 million during the quarter, compared to the consensus estimate of $929.67 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The business's revenue was down 4.9% compared to the same quarter last year. On average, research analysts anticipate that DENTSPLY SIRONA will post 1.84 earnings per share for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, September 26th. DENTSPLY SIRONA's payout ratio is presently -13.50%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XRAY. LPL Financial LLC raised its position in shares of DENTSPLY SIRONA by 52.2% in the fourth quarter. LPL Financial LLC now owns 115,108 shares of the medical instruments supplier's stock valued at $2,185,000 after purchasing an additional 39,498 shares during the period. Geode Capital Management LLC increased its holdings in shares of DENTSPLY SIRONA by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,612,370 shares of the medical instruments supplier's stock worth $68,584,000 after buying an additional 64,542 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of DENTSPLY SIRONA by 18.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 453,801 shares of the medical instruments supplier's stock worth $8,613,000 after buying an additional 71,213 shares during the last quarter. Quadrant Capital Group LLC raised its position in DENTSPLY SIRONA by 197.1% in the 4th quarter. Quadrant Capital Group LLC now owns 5,252 shares of the medical instruments supplier's stock worth $100,000 after purchasing an additional 3,484 shares during the period. Finally, Federated Hermes Inc. lifted its stake in DENTSPLY SIRONA by 0.5% in the fourth quarter. Federated Hermes Inc. now owns 169,304 shares of the medical instruments supplier's stock worth $3,213,000 after purchasing an additional 915 shares during the last quarter. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

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.