DENTSPLY SIRONA Inc. (NASDAQ:XRAY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Over the last three months, DENTSPLY SIRONA traded below the broader industry in terms of prices. The company's higher capital expenditure on product development and tough competition are expected to put margins under pressure. Unfavorable foreign exchange rate and integration are the major risks in the near term. However robust performance by the company’s flagship dental implants, CAD/CAM systems, imaging systems, treatment centers and orthodontic product platforms hold considerable promise over the long haul. Emerging markets like Asia-Pacific & the Middle East offer healthy growth opportunities on a long-term basis, as they remain vastly untapped with low dental products penetration. The company’s agreements with MedTech bigwigs like Henry Schein and Patterson Companies in Canada are likely to drive sales. DENTSPLY SIRONA has recently witnessed a rebound in sales in Asia, particularly Japan, and strong growth in Russia.”
XRAY has been the topic of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $68.00 target price (down previously from $74.00) on shares of DENTSPLY SIRONA in a research report on Monday, August 14th. Credit Suisse Group reissued an “outperform” rating and issued a $75.00 price target (up previously from $67.00) on shares of DENTSPLY SIRONA in a report on Thursday, July 13th. Morgan Stanley reissued an “overweight” rating and issued a $69.00 price target (up previously from $67.00) on shares of DENTSPLY SIRONA in a report on Friday, October 6th. BidaskClub raised shares of DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Finally, TheStreet lowered shares of DENTSPLY SIRONA from a “b” rating to a “c+” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. DENTSPLY SIRONA has a consensus rating of “Hold” and a consensus price target of $65.60.
Shares of DENTSPLY SIRONA (NASDAQ XRAY) traded up 2.349% during mid-day trading on Friday, hitting $62.095. 813,817 shares of the company traded hands. DENTSPLY SIRONA has a 1-year low of $52.54 and a 1-year high of $65.68. The stock’s market capitalization is $14.25 billion. The firm’s 50 day moving average price is $58.36 and its 200-day moving average price is $61.01.
DENTSPLY SIRONA (NASDAQ:XRAY) last issued its earnings results on Wednesday, August 9th. The medical instruments supplier reported $0.65 EPS for the quarter, hitting analysts’ consensus estimates of $0.65. The company had revenue of $992.70 million for the quarter, compared to analysts’ expectations of $1 billion. DENTSPLY SIRONA had a negative net margin of 20.57% and a positive return on equity of 7.24%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS. On average, equities research analysts forecast that DENTSPLY SIRONA will post $2.68 EPS for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC boosted its stake in shares of DENTSPLY SIRONA by 17.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 696,865 shares of the medical instruments supplier’s stock valued at $45,185,000 after purchasing an additional 104,153 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of DENTSPLY SIRONA by 23.8% during the 2nd quarter. Toronto Dominion Bank now owns 81,534 shares of the medical instruments supplier’s stock valued at $5,286,000 after purchasing an additional 15,680 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of DENTSPLY SIRONA during the 2nd quarter valued at about $358,000. Westwood Holdings Group Inc. bought a new stake in shares of DENTSPLY SIRONA during the 2nd quarter valued at about $17,815,000. Finally, Security National Bank of SO Dak boosted its stake in shares of DENTSPLY SIRONA by 1.1% during the 2nd quarter. Security National Bank of SO Dak now owns 18,805 shares of the medical instruments supplier’s stock valued at $1,219,000 after purchasing an additional 207 shares in the last quarter. 93.87% of the stock is currently owned by hedge funds and other institutional investors.
About DENTSPLY SIRONA
DENTSPLY SIRONA Inc is a manufacturer of professional dental products and technologies. The Company develops, manufactures, and markets solutions offering, including dental and oral health products, as well as other consumable medical devices. It operates through two segments: Dental and Healthcare Consumables, and Technologies.
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