DENTSPLY SIRONA (NASDAQ:XRAY) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

DENTSPLY SIRONA (NASDAQ:XRAY) issued its quarterly earnings data on Wednesday. The medical instruments supplier reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01), Briefing.com reports. The firm had revenue of $984.00 million during the quarter, compared to the consensus estimate of $993.61 million. DENTSPLY SIRONA had a negative net margin of 4.75% and a positive return on equity of 11.64%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. DENTSPLY SIRONA updated its FY24 guidance to $1.96 to $2.02 EPS and its FY 2024 guidance to 1.960-2.020 EPS.

DENTSPLY SIRONA Stock Performance

Shares of XRAY opened at $26.73 on Friday. The firm’s 50 day moving average is $26.24 and its 200-day moving average is $30.18. The stock has a market capitalization of $5.55 billion, a P/E ratio of -60.75, a P/E/G ratio of 1.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.43 and a quick ratio of 0.97. DENTSPLY SIRONA has a 12-month low of $23.94 and a 12-month high of $41.22.

DENTSPLY SIRONA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.16 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 2.39%. DENTSPLY SIRONA’s dividend payout ratio is currently -145.45%.

Insider Transactions at DENTSPLY SIRONA

In other news, Director Gregory T. Lucier bought 3,577 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were acquired at an average cost of $27.95 per share, with a total value of $99,977.15. Following the completion of the transaction, the director now directly owns 58,374 shares in the company, valued at approximately $1,631,553.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on XRAY shares. Evercore ISI dropped their price target on shares of DENTSPLY SIRONA from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Robert W. Baird dropped their price target on shares of DENTSPLY SIRONA from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Barrington Research restated an “outperform” rating and set a $38.00 price target on shares of DENTSPLY SIRONA in a research report on Monday, July 8th. StockNews.com downgraded shares of DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Piper Sandler restated a “neutral” rating and set a $32.00 price target (down from $35.00) on shares of DENTSPLY SIRONA in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.44.

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.