DENTSPLY SIRONA (NASDAQ:XRAY) Releases FY24 Earnings Guidance

DENTSPLY SIRONA (NASDAQ:XRAYGet Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.00-$2.10 for the period, compared to the consensus estimate of $2.05. The company issued revenue guidance of $3.96-$4.02 billion, compared to the consensus revenue estimate of $3.99 billion. DENTSPLY SIRONA also updated its FY 2024 guidance to 2.000-2.100 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barrington Research reiterated an outperform rating and set a $41.00 price objective on shares of DENTSPLY SIRONA in a research report on Friday. Needham & Company LLC reiterated a buy rating and set a $42.00 price objective on shares of DENTSPLY SIRONA in a research report on Thursday. StockNews.com upgraded shares of DENTSPLY SIRONA from a hold rating to a buy rating in a research report on Friday, January 19th. Piper Sandler boosted their price target on shares of DENTSPLY SIRONA from $31.00 to $35.00 and gave the stock a neutral rating in a research report on Friday, January 12th. Finally, William Blair upgraded shares of DENTSPLY SIRONA from a market perform rating to an outperform rating in a research report on Friday, November 10th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $39.50.

Read Our Latest Stock Analysis on DENTSPLY SIRONA

DENTSPLY SIRONA Stock Up 1.8 %

NASDAQ:XRAY traded up $0.59 during mid-day trading on Friday, reaching $33.27. The company’s stock had a trading volume of 2,674,501 shares, compared to its average volume of 3,533,527. DENTSPLY SIRONA has a 1 year low of $26.27 and a 1 year high of $43.24. The stock has a fifty day moving average of $34.71 and a 200-day moving average of $33.73. The company has a quick ratio of 1.04, a current ratio of 1.38 and a debt-to-equity ratio of 0.55.

DENTSPLY SIRONA (NASDAQ:XRAYGet Free Report) last announced its earnings results on Thursday, February 29th. The medical instruments supplier reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $972.61 million. DENTSPLY SIRONA had a negative net margin of 3.33% and a positive return on equity of 11.14%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. Sell-side analysts predict that DENTSPLY SIRONA will post 2.05 EPS for the current year.

DENTSPLY SIRONA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.16 per share. This is a boost from DENTSPLY SIRONA’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.92%. DENTSPLY SIRONA’s dividend payout ratio (DPR) is presently -90.32%.

DENTSPLY SIRONA announced that its board has initiated a share repurchase plan on Thursday, November 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 16.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On DENTSPLY SIRONA

A number of institutional investors have recently added to or reduced their stakes in XRAY. Macquarie Group Ltd. raised its holdings in shares of DENTSPLY SIRONA by 3.2% during the 2nd quarter. Macquarie Group Ltd. now owns 8,879 shares of the medical instruments supplier’s stock worth $318,000 after acquiring an additional 274 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of DENTSPLY SIRONA by 4.9% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,721 shares of the medical instruments supplier’s stock worth $219,000 after acquiring an additional 360 shares during the period. Cim Investment Management Inc. raised its holdings in shares of DENTSPLY SIRONA by 4.9% during the 1st quarter. Cim Investment Management Inc. now owns 10,936 shares of the medical instruments supplier’s stock worth $430,000 after acquiring an additional 513 shares during the period. Captrust Financial Advisors raised its holdings in DENTSPLY SIRONA by 14.0% in the 1st quarter. Captrust Financial Advisors now owns 4,446 shares of the medical instruments supplier’s stock valued at $219,000 after buying an additional 546 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in DENTSPLY SIRONA by 5.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,290 shares of the medical instruments supplier’s stock valued at $452,000 after buying an additional 547 shares during the period. Institutional investors and hedge funds own 95.70% of the company’s stock.

About DENTSPLY SIRONA

(Get Free Report)

DENTSPLY SIRONA Inc manufactures and sells various dental products and technologies for professional dental market worldwide. The company operates through two segments, Technologies & Equipment, and Consumables. The Technologies & Equipment segment provides dental equipment, such as treatment centers, imaging equipment, motorized dental handpieces, and other instruments for dental practitioners and specialists; dental CAD/CAM technologies for dental offices to support various digital dental procedures, including dental restorations; dentist-directed aligner solutions, SureSmile, and direct-to-consumer clear aligner solutions, as well as high frequency vibration technology device; implants; and urology catheters and other healthcare-related consumable products.

See Also

Earnings History and Estimates for DENTSPLY SIRONA (NASDAQ:XRAY)

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