DENTSPLY SIRONA (NASDAQ:XRAY) Shares Gap Up – Here’s Why

DENTSPLY SIRONA Inc. (NASDAQ:XRAY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $17.35, but opened at $17.96. DENTSPLY SIRONA shares last traded at $17.75, with a volume of 263,465 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on XRAY shares. Robert W. Baird decreased their price objective on DENTSPLY SIRONA from $31.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Stifel Nicolaus decreased their price objective on DENTSPLY SIRONA from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Evercore ISI decreased their target price on DENTSPLY SIRONA from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. StockNews.com raised DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Needham & Company LLC decreased their target price on DENTSPLY SIRONA from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.50.

DENTSPLY SIRONA Stock Up 3.3 %

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.84. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -8.65, a PEG ratio of 1.75 and a beta of 1.02. The firm has a 50-day moving average price of $24.21 and a two-hundred day moving average price of $25.59.

DENTSPLY SIRONA (NASDAQ:XRAY) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $951.00 million during the quarter, compared to analysts’ expectations of $939.10 million. DENTSPLY SIRONA had a positive return on equity of 12.62% and a negative net margin of 10.59%. DENTSPLY SIRONA’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, sell-side analysts anticipate that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of XRAY. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in DENTSPLY SIRONA by 44.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 141,117 shares of the medical instruments supplier’s stock worth $4,684,000 after acquiring an additional 43,230 shares in the last quarter. Scientech Research LLC bought a new stake in DENTSPLY SIRONA during the second quarter worth about $846,000. Seven Eight Capital LP bought a new stake in DENTSPLY SIRONA during the first quarter worth about $1,409,000. Intech Investment Management LLC bought a new stake in DENTSPLY SIRONA during the first quarter worth about $1,202,000. Finally, Lazard Asset Management LLC raised its holdings in DENTSPLY SIRONA by 3.2% during the first quarter. Lazard Asset Management LLC now owns 4,080,795 shares of the medical instruments supplier’s stock worth $135,440,000 after acquiring an additional 126,351 shares in the last quarter. 95.70% of the stock is owned by institutional investors and hedge funds.

About DENTSPLY SIRONA

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.