DENTSPLY SIRONA (NASDAQ:XRAY) Stock Price Down 7.7% on Disappointing Earnings

DENTSPLY SIRONA Inc. (NASDAQ:XRAY)’s share price traded down 7.7% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $17.63 and last traded at $17.36. 1,503,422 shares traded hands during trading, a decline of 35% from the average session volume of 2,320,249 shares. The stock had previously closed at $18.81.

The medical instruments supplier reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). DENTSPLY SIRONA had a negative net margin of 10.59% and a positive return on equity of 12.62%.

DENTSPLY SIRONA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.67%. DENTSPLY SIRONA’s dividend payout ratio is presently -30.92%.

Analysts Set New Price Targets

XRAY has been the subject of a number of analyst reports. Wells Fargo & Company began coverage on shares of DENTSPLY SIRONA in a research note on Friday, February 14th. They set an “equal weight” rating and a $20.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of DENTSPLY SIRONA in a research note on Tuesday, February 11th. Mizuho assumed coverage on DENTSPLY SIRONA in a report on Wednesday, December 4th. They issued a “neutral” rating and a $21.00 target price for the company. Leerink Partners downgraded DENTSPLY SIRONA from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird cut their target price on shares of DENTSPLY SIRONA from $31.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB increased its position in DENTSPLY SIRONA by 245.0% during the fourth quarter. Nordea Investment Management AB now owns 251,556 shares of the medical instruments supplier’s stock worth $4,754,000 after buying an additional 178,639 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of DENTSPLY SIRONA by 206.3% during the third quarter. JPMorgan Chase & Co. now owns 1,847,389 shares of the medical instruments supplier’s stock valued at $49,990,000 after acquiring an additional 1,244,326 shares during the last quarter. Barclays PLC increased its position in DENTSPLY SIRONA by 21.8% during the 3rd quarter. Barclays PLC now owns 306,809 shares of the medical instruments supplier’s stock worth $8,301,000 after purchasing an additional 54,920 shares in the last quarter. Canvas Wealth Advisors LLC raised its stake in DENTSPLY SIRONA by 126.5% in the 4th quarter. Canvas Wealth Advisors LLC now owns 326,298 shares of the medical instruments supplier’s stock valued at $6,245,000 after purchasing an additional 182,234 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in DENTSPLY SIRONA by 276.5% in the 3rd quarter. Quantinno Capital Management LP now owns 116,808 shares of the medical instruments supplier’s stock valued at $3,161,000 after purchasing an additional 85,787 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors and hedge funds.

DENTSPLY SIRONA Price Performance

The company’s 50 day simple moving average is $18.90 and its 200-day simple moving average is $21.58. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -8.50, a PEG ratio of 1.80 and a beta of 0.96.

DENTSPLY SIRONA Company Profile

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.