The Goldman Sachs Group Cuts DENTSPLY SIRONA (NASDAQ:XRAY) Price Target to $30.00

DENTSPLY SIRONA (NASDAQ:XRAY) had its target price lowered by The Goldman Sachs Group from $34.00 to $30.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the medical instruments supplier’s stock.

A number of other research firms have also recently issued reports on XRAY. StockNews.com cut DENTSPLY SIRONA from a buy rating to a hold rating in a research note on Friday, May 3rd. Robert W. Baird decreased their price objective on DENTSPLY SIRONA from $35.00 to $33.00 and set a neutral rating for the company in a research report on Friday, May 3rd. Leerink Partnrs restated an outperform rating on shares of DENTSPLY SIRONA in a report on Monday, February 26th. Piper Sandler reiterated a neutral rating and issued a $32.00 price target (down previously from $35.00) on shares of DENTSPLY SIRONA in a report on Friday, May 3rd. Finally, SVB Leerink initiated coverage on shares of DENTSPLY SIRONA in a report on Monday, February 26th. They set an outperform rating and a $42.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, DENTSPLY SIRONA has a consensus rating of Moderate Buy and a consensus price target of $35.22.

DENTSPLY SIRONA Stock Performance

Shares of XRAY stock opened at $27.81 on Monday. The stock has a 50-day moving average of $31.80 and a 200-day moving average of $32.63. DENTSPLY SIRONA has a one year low of $26.27 and a one year high of $41.65. The stock has a market cap of $5.77 billion, a PE ratio of -63.20, a price-to-earnings-growth ratio of 1.24 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.43 and a quick ratio of 0.97.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $953.00 million during 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 business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, sell-side analysts expect that DENTSPLY SIRONA will post 2.03 earnings per share for the current year.

DENTSPLY SIRONA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, March 27th. This is a boost from DENTSPLY SIRONA’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 2.30%. DENTSPLY SIRONA’s payout ratio is -145.45%.

Hedge Funds Weigh In On DENTSPLY SIRONA

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in DENTSPLY SIRONA by 1.5% during the third quarter. Vanguard Group Inc. now owns 25,250,443 shares of the medical instruments supplier’s stock valued at $862,555,000 after purchasing an additional 369,213 shares during the last quarter. Nuance Investments LLC boosted its holdings in shares of DENTSPLY SIRONA by 30.4% in the 4th quarter. Nuance Investments LLC now owns 11,603,889 shares of the medical instruments supplier’s stock valued at $412,982,000 after buying an additional 2,702,457 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in DENTSPLY SIRONA by 1.2% during the fourth quarter. First Eagle Investment Management LLC now owns 9,786,845 shares of the medical instruments supplier’s stock worth $348,314,000 after buying an additional 120,508 shares during the last quarter. Wellington Management Group LLP raised its position in DENTSPLY SIRONA by 21.1% during the fourth quarter. Wellington Management Group LLP now owns 8,138,253 shares of the medical instruments supplier’s stock worth $289,640,000 after acquiring an additional 1,419,503 shares in the last quarter. Finally, Cooke & Bieler LP lifted its stake in DENTSPLY SIRONA by 18.3% in the fourth quarter. Cooke & Bieler LP now owns 7,061,910 shares of the medical instruments supplier’s stock valued at $251,333,000 after acquiring an additional 1,092,922 shares during 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.