DENTSPLY SIRONA (NASDAQ:XRAY) Shares Gap Up on Analyst Upgrade

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) shares gapped up prior to trading on Thursday after Bank of America upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $12.49, but opened at $13.12. Bank of America now has a $17.00 price target on the stock, up from their previous price target of $13.00. DENTSPLY SIRONA shares last traded at $12.7270, with a volume of 1,296,946 shares trading hands.

Other research analysts have also recently issued research reports about the stock. Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of DENTSPLY SIRONA in a report on Monday, January 5th. Zacks Research downgraded shares of DENTSPLY SIRONA from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. UBS Group cut their target price on DENTSPLY SIRONA from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Wells Fargo & Company decreased their target price on DENTSPLY SIRONA from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. Finally, Stifel Nicolaus set a $13.00 price target on DENTSPLY SIRONA in a research report on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.46.

Insider Activity

In related news, Director Gregory T. Lucier sold 82,200 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $11.14, for a total transaction of $915,708.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of DENTSPLY SIRONA

Several hedge funds have recently modified their holdings of XRAY. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of DENTSPLY SIRONA by 1,836.7% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 105,938 shares of the medical instruments supplier’s stock valued at $1,344,000 after buying an additional 100,468 shares during the period. Bank of Montreal Can grew its stake in DENTSPLY SIRONA by 8.2% in the 2nd quarter. Bank of Montreal Can now owns 352,524 shares of the medical instruments supplier’s stock worth $5,598,000 after acquiring an additional 26,610 shares during the period. Commonwealth Equity Services LLC raised its holdings in DENTSPLY SIRONA by 38.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 804,934 shares of the medical instruments supplier’s stock valued at $10,215,000 after acquiring an additional 223,339 shares during the last quarter. CWM LLC lifted its stake in shares of DENTSPLY SIRONA by 84.3% during the 3rd quarter. CWM LLC now owns 420,470 shares of the medical instruments supplier’s stock worth $5,336,000 after purchasing an additional 192,373 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of DENTSPLY SIRONA by 63.6% during the third quarter. Allianz Asset Management GmbH now owns 1,355,643 shares of the medical instruments supplier’s stock worth $17,203,000 after purchasing an additional 526,973 shares during the last quarter. 95.70% of the stock is owned by institutional investors and hedge funds.

DENTSPLY SIRONA Stock Up 1.7%

The firm has a market cap of $2.53 billion, a price-to-earnings ratio of -2.88, a PEG ratio of 0.98 and a beta of 1.01. The company has a quick ratio of 0.99, a current ratio of 1.47 and a debt-to-equity ratio of 1.36. The firm has a fifty day moving average price of $12.20 and a 200-day moving average price of $12.50.

DENTSPLY SIRONA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.0%. DENTSPLY SIRONA’s dividend payout ratio is currently -14.48%.

DENTSPLY SIRONA Company Profile

Dentsply Sirona Inc (NASDAQ: XRAY) is a leading global manufacturer of professional dental products and technologies. The company, formed through the merger of Dentsply International and Sirona Dental Systems in February 2016, brings together a long heritage of innovation in dental care. Headquartered in Charlotte, North Carolina, Dentsply Sirona develops and markets a comprehensive range of dental consumables, laboratory products, and advanced imaging and CAD/CAM systems.

The company’s product portfolio spans preventive, restorative, orthodontic, endodontic and surgical care.