DENTSPLY SIRONA Inc. (XRAY) Upgraded to “Hold” at Zacks Investment Research
DENTSPLY SIRONA Inc. (NASDAQ:XRAY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “DENTSPLY SIRONA'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. The price performance of the stock has been unfavorable over the last three months. 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. The company recently announced the renewal of an existing distribution agreement with Henry Schein Canada, Inc. The agreement is a smart move by DENTSPLY SIRONA as the preexisting distribution agreement did not include the CEREC CAD/CAM restoration system and the Schick line of imaging sensors.”
A number of other brokerages have also issued reports on XRAY. BidaskClub lowered shares of DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Credit Suisse Group reissued an “outperform” rating and set a $75.00 target price (up from $67.00) on shares of DENTSPLY SIRONA in a research note on Thursday, July 13th. HC Wainwright began coverage on shares of DENTSPLY SIRONA in a research note on Tuesday, July 11th. They set a “buy” rating and a $74.00 target price for the company. Morgan Stanley reissued an “overweight” rating and set a $69.00 target price (up from $67.00) on shares of DENTSPLY SIRONA in a research note on Friday, October 6th. Finally, Cleveland Research lowered shares of DENTSPLY SIRONA from a “buy” rating to a “neutral” rating in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. DENTSPLY SIRONA presently has an average rating of “Hold” and an average price target of $65.89.
DENTSPLY SIRONA (NASDAQ:XRAY) last issued 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. The firm had revenue of $992.70 million during the quarter, compared to analyst estimates of $1 billion. DENTSPLY SIRONA had a negative net margin of 20.57% and a positive return on equity of 7.24%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share.
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Several hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC raised its holdings in shares of DENTSPLY SIRONA by 17.6% in the second quarter. Lord Abbett & CO. LLC now owns 696,865 shares of the medical instruments supplier’s stock valued at $45,185,000 after acquiring an additional 104,153 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of DENTSPLY SIRONA by 23.8% in the second quarter. Toronto Dominion Bank now owns 81,534 shares of the medical instruments supplier’s stock valued at $5,286,000 after acquiring an additional 15,680 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of DENTSPLY SIRONA in the second quarter valued at about $358,000. Westwood Holdings Group Inc. bought a new stake in shares of DENTSPLY SIRONA in the second quarter valued at about $17,815,000. Finally, Security National Bank of SO Dak raised its holdings in shares of DENTSPLY SIRONA by 1.1% in the second 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 acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 93.88% 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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