UBS Group Cuts DENTSPLY SIRONA (NASDAQ:XRAY) Price Target to $24.00

Key Points

• UBS Group has lowered its price target for DENTSPLY SIRONA from $25.00 to $24.00, but still maintains a "buy" rating, suggesting an 85.83% potential upside.
• Other analysts have offered mixed ratings, with Morgan Stanley downgrading it to "equal weight" and a target price of $14.00, while Barrington Research set a target at $18.00 with an "outperform" rating.
• DENTSPLY SIRONA's stock recently traded down 2.4% to $12.92, with a 12-month trading range from a low of $12.16 to a high of $27.48.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) had its price objective reduced by analysts at UBS Group from $25.00 to $24.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the medical instruments supplier's stock. UBS Group's target price suggests a potential upside of 74.88% from the stock's previous close.

Several other analysts have also recently issued reports on the company. Piper Sandler cut their target price on DENTSPLY SIRONA from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Needham & Company LLC restated a "hold" rating on shares of DENTSPLY SIRONA in a report on Monday, July 21st. Stifel Nicolaus lowered their price objective on shares of DENTSPLY SIRONA from $19.00 to $17.00 and set a "hold" rating for the company in a report on Friday, August 8th. Morgan Stanley lowered 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 report on Tuesday, April 15th. Finally, Barrington Research set a $18.00 target price on shares of DENTSPLY SIRONA and gave the company an "outperform" rating in a report on Friday. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $18.64.

DENTSPLY SIRONA Price Performance

Shares of XRAY stock traded up $0.67 on Friday, reaching $13.72. The company's stock had a trading volume of 1,066,721 shares, compared to its average volume of 2,980,716. The stock's 50 day simple moving average is $15.59 and its 200-day simple moving average is $15.81. DENTSPLY SIRONA has a 12-month low of $12.16 and a 12-month 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 $2.74 billion, a P/E ratio of -2.88, a PEG ratio of 0.78 and a beta of 0.94.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The firm had revenue of $936.00 million for the quarter, compared to analysts' expectations of $929.67 million. DENTSPLY SIRONA had a positive return on equity of 16.33% and a negative net margin of 25.85%. The company's revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. As a group, equities analysts predict that DENTSPLY SIRONA will post 1.84 earnings per share for the current fiscal year.

Institutional Trading of DENTSPLY SIRONA

Several hedge funds have recently made changes to their positions in XRAY. AQR Capital Management LLC raised its position in DENTSPLY SIRONA by 119.4% in the 1st quarter. AQR Capital Management LLC now owns 6,346,685 shares of the medical instruments supplier's stock worth $93,423,000 after purchasing an additional 3,453,662 shares during the period. Norges Bank purchased a new stake in DENTSPLY SIRONA in the 2nd quarter worth about $39,700,000. Goldman Sachs Group Inc. raised its position in DENTSPLY SIRONA by 827.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,434,925 shares of the medical instruments supplier's stock worth $36,378,000 after purchasing an additional 2,172,343 shares during the period. Price T Rowe Associates Inc. MD grew its stake in DENTSPLY SIRONA by 18.7% in 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. Finally, Invenomic Capital Management LP grew its stake in DENTSPLY SIRONA by 201.0% in the 4th quarter. Invenomic Capital Management LP now owns 2,639,161 shares of the medical instruments supplier's stock worth $50,091,000 after acquiring an additional 1,762,428 shares in the last quarter. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

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.