Cleveland Research Downgrades DENTSPLY SIRONA Inc. (XRAY) to Neutral
DENTSPLY SIRONA Inc. (NASDAQ:XRAY) was downgraded by investment analysts at Cleveland Research from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday.
Several other research analysts also recently weighed in on XRAY. BidaskClub downgraded shares of DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. HC Wainwright started coverage on shares of DENTSPLY SIRONA in a report on Tuesday, July 11th. They issued a “buy” rating and a $74.00 target price for the company. Credit Suisse Group reiterated an “outperform” rating and issued a $75.00 target price (up previously from $67.00) on shares of DENTSPLY SIRONA in a report on Thursday, July 13th. Zacks Investment Research upgraded shares of DENTSPLY SIRONA from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Thursday, July 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $66.00 target price (down previously from $70.00) on shares of DENTSPLY SIRONA in a report on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. DENTSPLY SIRONA has an average rating of “Hold” and a consensus price target of $65.67.
Shares of DENTSPLY SIRONA (NASDAQ XRAY) traded up 0.31% during midday trading on Thursday, hitting $57.39. 302,428 shares of the company were exchanged. DENTSPLY SIRONA has a one year low of $52.54 and a one year high of $65.68. The firm’s 50 day moving average price is $56.90 and its 200 day moving average price is $61.30. The firm’s market capitalization is $13.17 billion.
DENTSPLY SIRONA (NASDAQ:XRAY) last released its earnings results on Wednesday, August 9th. The medical instruments supplier reported $0.65 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.65. DENTSPLY SIRONA had a negative net margin of 20.57% and a positive return on equity of 7.24%. The company had revenue of $992.70 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the company earned $0.76 EPS. DENTSPLY SIRONA’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts forecast that DENTSPLY SIRONA will post $2.68 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of XRAY. Commonwealth Bank of Australia boosted its position in shares of DENTSPLY SIRONA by 19.0% in the second quarter. Commonwealth Bank of Australia now owns 1,626 shares of the medical instruments supplier’s stock valued at $104,000 after acquiring an additional 260 shares during the period. Acrospire Investment Management LLC bought a new position in shares of DENTSPLY SIRONA in the second quarter valued at approximately $113,000. Dupont Capital Management Corp bought a new position in shares of DENTSPLY SIRONA in the second quarter valued at approximately $116,000. Korea Investment CORP boosted its position in shares of DENTSPLY SIRONA by 139.9% in the second quarter. Korea Investment CORP now owns 2,145 shares of the medical instruments supplier’s stock valued at $139,000 after acquiring an additional 1,251 shares during the period. Finally, Sphera Funds Management LTD. bought a new position in shares of DENTSPLY SIRONA in the second quarter valued at approximately $162,000. Hedge funds and other institutional investors own 93.87% of the company’s stock.
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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