DENTSPLY SIRONA (NASDAQ:XRAY) Updates FY24 Earnings Guidance

DENTSPLY SIRONA (NASDAQ:XRAY) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.00-$2.10 for the period, compared to the consensus earnings per share estimate of $2.06. The company issued revenue guidance of $3.91-$3.97 billion, compared to the consensus revenue estimate of $4.00 billion.

Analyst Upgrades and Downgrades

Several research firms have commented on XRAY. Evercore ISI reduced their price objective on DENTSPLY SIRONA from $40.00 to $35.00 and set an outperform rating on the stock in a report on Friday. SVB Leerink began coverage on shares of DENTSPLY SIRONA in a research note on Monday, February 26th. They issued an outperform rating and a $42.00 price objective for the company. Leerink Partnrs reissued an outperform rating on shares of DENTSPLY SIRONA in a research report on Monday, February 26th. Piper Sandler restated a neutral rating and issued a $32.00 price target (down previously from $35.00) on shares of DENTSPLY SIRONA in a report on Friday. Finally, Barrington Research lowered their target price on DENTSPLY SIRONA from $41.00 to $38.00 and set an outperform rating for the company in a report on Friday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $36.90.

DENTSPLY SIRONA Stock Performance

Shares of DENTSPLY SIRONA stock traded down $0.09 during trading on Friday, reaching $28.29. The company’s stock had a trading volume of 4,506,597 shares, compared to its average volume of 2,671,334. DENTSPLY SIRONA has a 1-year low of $26.27 and a 1-year high of $41.65. The company has a 50-day simple moving average of $32.13 and a two-hundred day simple moving average of $32.71. The company has a quick ratio of 0.95, a current ratio of 1.43 and a debt-to-equity ratio of 0.54.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. DENTSPLY SIRONA had a positive return on equity of 11.54% and a negative net margin of 2.41%. The business had revenue of $953.00 million during the quarter, compared to the consensus estimate of $969.45 million. During the same quarter last year, the company earned $0.39 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts predict that DENTSPLY SIRONA will post 2.04 EPS for the current fiscal year.

DENTSPLY SIRONA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.26%. The ex-dividend date was Wednesday, March 27th. This is an increase from DENTSPLY SIRONA’s previous quarterly dividend of $0.14. DENTSPLY SIRONA’s payout ratio is currently -145.45%.

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.