DENTSPLY SIRONA (NASDAQ:XRAY) Issues FY24 Earnings Guidance

DENTSPLY SIRONA (NASDAQ:XRAY) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.00-$2.10 for the period, compared to the consensus 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.

DENTSPLY SIRONA Stock Performance

DENTSPLY SIRONA stock traded down $0.09 during mid-day trading on Friday, hitting $28.29. The company had a trading volume of 4,506,597 shares, compared to its average volume of 2,671,334. DENTSPLY SIRONA has a 12-month low of $26.27 and a 12-month high of $41.65. The company’s fifty day moving average is $32.13 and its 200-day moving average is $32.71. The company has a current ratio of 1.43, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54.

DENTSPLY SIRONA (NASDAQ:XRAY) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $953.00 million for the quarter, compared to the consensus estimate of $969.45 million. DENTSPLY SIRONA had a negative net margin of 2.41% and a positive return on equity of 11.54%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, research analysts expect that DENTSPLY SIRONA will post 2.04 earnings per share for the current year.

DENTSPLY SIRONA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from DENTSPLY SIRONA’s previous quarterly dividend of $0.14. DENTSPLY SIRONA’s payout ratio is currently -145.45%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on XRAY. Needham & Company LLC dropped their price objective on DENTSPLY SIRONA from $42.00 to $36.00 and set a buy rating on the stock in a report on Friday. 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 price target for the company. Leerink Partnrs restated an outperform rating on shares of DENTSPLY SIRONA in a research report on Monday, February 26th. Piper Sandler reiterated a neutral rating and issued a $32.00 target price (down previously from $35.00) on shares of DENTSPLY SIRONA in a research report on Friday. Finally, Robert W. Baird reduced their price target on shares of DENTSPLY SIRONA from $35.00 to $33.00 and set a neutral rating for the company in a research report on Friday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $36.90.

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.