Zacks Investment Research upgraded shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY) from a strong sell rating to a hold rating in a research note published on Thursday, October 12th.
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.”
Other research analysts have also issued research reports about the company. 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 reiterated an outperform rating and issued a $75.00 target price (up previously from $67.00) on shares of DENTSPLY SIRONA in a research report on Thursday, July 13th. Morgan Stanley restated an overweight rating and set a $69.00 price objective (up previously from $67.00) on shares of DENTSPLY SIRONA in a research report on Friday, October 6th. BidaskClub upgraded DENTSPLY SIRONA from a hold rating to a buy rating in a research report on Friday, June 30th. Finally, TheStreet lowered DENTSPLY SIRONA from a b rating to a c+ rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $65.60.
DENTSPLY SIRONA (NASDAQ:XRAY) opened at 61.84 on Thursday. DENTSPLY SIRONA has a 12-month low of $52.53 and a 12-month high of $65.68. The stock’s 50 day moving average is $58.51 and its 200 day moving average is $61.00. The stock’s market capitalization is $14.19 billion.
DENTSPLY SIRONA (NASDAQ:XRAY) last announced its earnings results on Wednesday, August 9th. The medical instruments supplier reported $0.65 EPS for the quarter, meeting the consensus estimate of $0.65. DENTSPLY SIRONA had a positive return on equity of 7.24% and a negative net margin of 20.57%. The business had revenue of $992.70 million for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the business posted $0.76 EPS. The company’s revenue was down 2.9% on a year-over-year basis. Equities analysts anticipate that DENTSPLY SIRONA will post $2.68 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in XRAY. Teachers Advisors LLC raised its position in shares of DENTSPLY SIRONA by 5.6% during the first quarter. Teachers Advisors LLC now owns 341,126 shares of the medical instruments supplier’s stock worth $21,300,000 after purchasing an additional 17,950 shares during the period. Royce & Associates LP raised its position in DENTSPLY SIRONA by 35.2% during the first quarter. Royce & Associates LP now owns 102,650 shares of the medical instruments supplier’s stock valued at $6,409,000 after buying an additional 26,750 shares during the period. Elk Creek Partners LLC raised its position in DENTSPLY SIRONA by 4.0% during the first quarter. Elk Creek Partners LLC now owns 5,587 shares of the medical instruments supplier’s stock valued at $349,000 after buying an additional 214 shares during the period. Legal & General Group Plc raised its position in DENTSPLY SIRONA by 2.9% during the first quarter. Legal & General Group Plc now owns 1,076,492 shares of the medical instruments supplier’s stock valued at $67,216,000 after buying an additional 30,544 shares during the period. Finally, EULAV Asset Management raised its position in DENTSPLY SIRONA by 6.3% during the first quarter. EULAV Asset Management now owns 94,500 shares of the medical instruments supplier’s stock valued at $5,901,000 after buying an additional 5,600 shares during the period. 93.87% of the stock is currently owned by institutional investors.
DENTSPLY SIRONA Company Profile
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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