DENTSPLY SIRONA (NASDAQ:XRAY) Announces Quarterly Earnings Results, Hits Estimates

DENTSPLY SIRONA (NASDAQ:XRAY) posted its earnings results on Thursday. The medical instruments supplier reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42, RTT News reports. The company had revenue of $953.00 million during the quarter, compared to analysts’ expectations of $969.45 million. DENTSPLY SIRONA had a negative net margin of 3.33% and a positive return on equity of 11.14%. DENTSPLY SIRONA’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the company posted $0.39 earnings per share. DENTSPLY SIRONA updated its FY24 guidance to $2.00-$2.10 EPS.

DENTSPLY SIRONA Stock Down 4.4 %

Shares of NASDAQ:XRAY traded down $1.34 during trading hours on Thursday, hitting $28.84. The company’s stock had a trading volume of 1,782,152 shares, compared to its average volume of 3,262,754. DENTSPLY SIRONA has a 52 week low of $26.27 and a 52 week high of $43.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.38 and a quick ratio of 0.95. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of -48.68, a P/E/G ratio of 1.21 and a beta of 1.00. The firm’s fifty day moving average price is $32.34 and its 200 day moving average price is $32.76.

DENTSPLY SIRONA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 annualized dividend and a dividend yield of 2.22%. This is a positive change from DENTSPLY SIRONA’s previous quarterly dividend of $0.14. DENTSPLY SIRONA’s payout ratio is currently -103.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price objective on shares of DENTSPLY SIRONA in a research note on Thursday, February 29th. StockNews.com upgraded shares of DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Leerink Partnrs restated an “outperform” rating on shares of DENTSPLY SIRONA in a report on Monday, February 26th. SVB Leerink assumed coverage on shares of DENTSPLY SIRONA in a report on Monday, February 26th. They issued an “outperform” rating and a $42.00 target price for the company. Finally, Piper Sandler raised their target price on shares of DENTSPLY SIRONA from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

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.