Here's Why Dentsply International (XRAY) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Dentsply International (XRAY)
Headquartered in York, PA, DENTSPLY SIRONA Inc. is a global leader in the design, development, manufacture and marketing of dental consumables, dental laboratory products, dental specialty products and consumable medical device products. In addition, it provides dental technology products, including dental implants and related scanning equipment, treatment software, and orthodontic appliances for dental practitioners and specialist; and dental equipment, such as treatment centers, imaging equipment, and computer aided design and machining systems for dental practitioners. Further, the company offers healthcare consumable products, such as urology catheters, medical drills, and other non-medical products.
XRAY boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Dentsply International has seen some interesting price action recently; the stock is down 2.4% over the past one week and up 0.7% over the past four weeks. And in the last one-year period, XRAY has lost 8.5%. As for the stock's trading volume, 2,577,518.50 shares on average were traded over the last 20 days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.04 to $2.05 per share. XRAY boasts an average earnings surprise of 10.3%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding XRAY to their portfolios.
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DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report
