Morgan Stanley Downgrades DENTSPLY SIRONA (XRAY) to Equal Weight

Morgan Stanley downgraded shares of DENTSPLY SIRONA (NASDAQ:XRAY) from an overweight rating to an equal weight rating in a research note published on Wednesday, MarketBeat.com reports. They currently have $40.00 price objective on the medical instruments supplier’s stock, down from their prior price objective of $54.00.

XRAY has been the subject of a number of other reports. ValuEngine lowered shares of DENTSPLY SIRONA from a sell rating to a strong sell rating in a research note on Tuesday, May 8th. Barclays reiterated a hold rating and issued a $55.00 price objective on shares of DENTSPLY SIRONA in a research note on Tuesday, May 8th. BidaskClub upgraded shares of DENTSPLY SIRONA from a strong sell rating to a sell rating in a research note on Wednesday, June 13th. Jefferies Financial Group reiterated a buy rating on shares of DENTSPLY SIRONA in a research note on Monday, April 16th. Finally, Barrington Research reduced their price objective on shares of DENTSPLY SIRONA from $70.00 to $54.00 and set an outperform rating for the company in a research note on Tuesday, May 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $52.18.

DENTSPLY SIRONA stock opened at $39.02 on Wednesday. DENTSPLY SIRONA has a 1-year low of $38.80 and a 1-year high of $68.98. The company has a market capitalization of $8.92 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 2.57 and a beta of 1.27. The company has a quick ratio of 1.46, a current ratio of 1.69 and a debt-to-equity ratio of 0.31.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings data on Tuesday, August 7th. The medical instruments supplier reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. DENTSPLY SIRONA had a negative net margin of 39.62% and a positive return on equity of 9.12%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business earned $0.65 EPS. sell-side analysts forecast that DENTSPLY SIRONA will post 2.07 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be given a dividend of $0.0875 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.90%. DENTSPLY SIRONA’s dividend payout ratio (DPR) is currently 13.16%.

In other news, Director Michael C. Alfano sold 1,404 shares of the business’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $45.83, for a total transaction of $64,345.32. Following the completion of the transaction, the director now directly owns 13,458 shares in the company, valued at approximately $616,780.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Coleman sold 6,038 shares of the business’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $43.97, for a total transaction of $265,490.86. Following the transaction, the director now owns 26,960 shares of the company’s stock, valued at $1,185,431.20. The disclosure for this sale can be found here. 1.93% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of DENTSPLY SIRONA by 0.7% during the 1st quarter. BlackRock Inc. now owns 14,269,268 shares of the medical instruments supplier’s stock valued at $717,889,000 after purchasing an additional 99,455 shares in the last quarter. Veritas Asset Management LLP lifted its holdings in shares of DENTSPLY SIRONA by 19.9% during the 2nd quarter. Veritas Asset Management LLP now owns 10,092,601 shares of the medical instruments supplier’s stock worth $441,753,000 after acquiring an additional 1,674,946 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of DENTSPLY SIRONA by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,330,451 shares of the medical instruments supplier’s stock worth $268,175,000 after acquiring an additional 18,766 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of DENTSPLY SIRONA by 23.7% during the 1st quarter. Champlain Investment Partners LLC now owns 2,218,395 shares of the medical instruments supplier’s stock worth $111,607,000 after acquiring an additional 424,910 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of DENTSPLY SIRONA by 43.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,213,839 shares of the medical instruments supplier’s stock worth $96,899,000 after acquiring an additional 667,148 shares during the last quarter. Hedge funds and other institutional investors own 94.10% of the company’s stock.

About DENTSPLY SIRONA

DENTSPLY SIRONA Inc designs, develops, manufactures, and markets various dental and oral health products, and other consumable healthcare products primarily for the professional dental market worldwide. The company operates in two segments, Technologies & Equipment; and Consumables. Its dental supplies include endodontic instruments and materials, dental anesthetics, prophylaxis pastes, dental sealants, impression materials, restorative materials, tooth whiteners, and topical fluoride products; and small equipment products comprise dental hand pieces, intraoral curing light systems, dental diagnostic systems, and ultrasonic scalers and polishers.

Further Reading: Price to Earnings Ratio (PE)

Analyst Recommendations for DENTSPLY SIRONA (NASDAQ:XRAY)

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