Needham & Company LLC Lowers DENTSPLY SIRONA (NASDAQ:XRAY) Price Target to $29.00

DENTSPLY SIRONA (NASDAQ:XRAY) had its price target lowered by analysts at Needham & Company LLC from $34.00 to $29.00 in a note issued to investors on Friday, Briefing.com reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s target price would suggest a potential upside of 24.62% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Barrington Research restated an “outperform” rating and issued a $36.00 price target on shares of DENTSPLY SIRONA in a research report on Friday, September 20th. Evercore ISI dropped their target price on DENTSPLY SIRONA from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Stifel Nicolaus dropped their target price on DENTSPLY SIRONA from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Finally, Robert W. Baird dropped their target price on DENTSPLY SIRONA from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.67.

DENTSPLY SIRONA Stock Performance

Shares of DENTSPLY SIRONA stock traded down $1.14 on Friday, hitting $23.27. The stock had a trading volume of 1,741,352 shares, compared to its average volume of 2,955,434. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -27.13, a P/E/G ratio of 1.17 and a beta of 1.00. DENTSPLY SIRONA has a 52-week low of $22.85 and a 52-week high of $37.60. The company’s 50 day moving average price is $25.26 and its 200 day moving average price is $26.58. The company has a current ratio of 1.33, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued 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). The company had revenue of $984.00 million during the quarter, compared to analyst estimates of $993.61 million. DENTSPLY SIRONA had a negative net margin of 4.75% and a positive return on equity of 11.86%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. On average, research analysts anticipate that DENTSPLY SIRONA will post 1.98 EPS for the current year.

Institutional Trading of DENTSPLY SIRONA

Several large investors have recently added to or reduced their stakes in XRAY. Raymond James Trust N.A. raised its holdings in shares of DENTSPLY SIRONA by 4.9% during the second quarter. Raymond James Trust N.A. now owns 9,658 shares of the medical instruments supplier’s stock valued at $241,000 after buying an additional 453 shares during the last quarter. State of Alaska Department of Revenue grew its position in DENTSPLY SIRONA by 2.4% in the third quarter. State of Alaska Department of Revenue now owns 23,545 shares of the medical instruments supplier’s stock worth $637,000 after buying an additional 560 shares during the last quarter. LRI Investments LLC grew its position in DENTSPLY SIRONA by 82.7% in the second quarter. LRI Investments LLC now owns 1,246 shares of the medical instruments supplier’s stock worth $31,000 after buying an additional 564 shares during the last quarter. Diversified Trust Co raised its stake in DENTSPLY SIRONA by 3.0% during the 2nd quarter. Diversified Trust Co now owns 19,637 shares of the medical instruments supplier’s stock valued at $489,000 after purchasing an additional 566 shares during the period. Finally, Allworth Financial LP raised its stake in DENTSPLY SIRONA by 40.2% during the 3rd quarter. Allworth Financial LP now owns 2,179 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 625 shares during the period. 95.70% of the stock is currently owned by institutional investors and hedge funds.

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.