Needham & Company LLC Issues Pessimistic Forecast for DENTSPLY SIRONA (NASDAQ:XRAY) Stock Price

DENTSPLY SIRONA (NASDAQ:XRAY) had its price objective reduced by research analysts at Needham & Company LLC from $25.00 to $23.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s target price would indicate a potential upside of 34.11% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Leerink Partnrs cut shares of DENTSPLY SIRONA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Evercore ISI restated an “in-line” rating and set a $20.00 target price on shares of DENTSPLY SIRONA in a report on Tuesday, January 7th. Morgan Stanley cut their price target on DENTSPLY SIRONA from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Jefferies Financial Group lowered DENTSPLY SIRONA from a “buy” rating to a “hold” rating and reduced their price target for the stock from $30.00 to $20.00 in a research report on Thursday, January 23rd. Finally, UBS Group dropped their price objective on DENTSPLY SIRONA from $35.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.33.

DENTSPLY SIRONA Stock Performance

Shares of DENTSPLY SIRONA stock opened at $17.15 on Friday. 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 stock’s fifty day moving average price is $18.90 and its 200-day moving average price is $21.58. The firm has a market cap of $3.41 billion, a P/E ratio of -8.28, a P/E/G ratio of 1.80 and a beta of 0.96. DENTSPLY SIRONA has a 12 month low of $17.09 and a 12 month high of $34.91.

Institutional Investors Weigh In On DENTSPLY SIRONA

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