Mackenzie Financial Corp Sells 651,478 Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Mackenzie Financial Corp trimmed its position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) by 51.3% in the fourth quarter, HoldingsChannel reports. The firm owned 618,400 shares of the medical instruments supplier’s stock after selling 651,478 shares during the quarter. Mackenzie Financial Corp’s holdings in DENTSPLY SIRONA were worth $22,009,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. VisionPoint Advisory Group LLC grew its position in shares of DENTSPLY SIRONA by 104.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 774 shares of the medical instruments supplier’s stock valued at $26,000 after acquiring an additional 395 shares during the period. Point72 Asset Management L.P. bought a new position in shares of DENTSPLY SIRONA during the 2nd quarter valued at approximately $44,000. Parkside Financial Bank & Trust grew its position in shares of DENTSPLY SIRONA by 163.7% during the 1st quarter. Parkside Financial Bank & Trust now owns 915 shares of the medical instruments supplier’s stock valued at $46,000 after acquiring an additional 568 shares during the period. Anchor Investment Management LLC bought a new position in shares of DENTSPLY SIRONA during the 4th quarter valued at approximately $47,000. Finally, Exchange Traded Concepts LLC grew its position in shares of DENTSPLY SIRONA by 41.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,504 shares of the medical instruments supplier’s stock valued at $51,000 after acquiring an additional 439 shares during the period. 95.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

DENTSPLY SIRONA Price Performance

NASDAQ XRAY opened at $30.44 on Friday. DENTSPLY SIRONA Inc. has a 1 year low of $26.27 and a 1 year high of $43.24. The company has a current ratio of 1.38, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company’s 50 day simple moving average is $32.84 and its two-hundred day simple moving average is $32.87.

DENTSPLY SIRONA (NASDAQ:XRAY) last posted its earnings results on Thursday, February 29th. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. DENTSPLY SIRONA had a negative net margin of 3.33% and a positive return on equity of 11.14%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $972.61 million. During the same period in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts anticipate that DENTSPLY SIRONA Inc. will post 2.05 earnings per share for the current year.

DENTSPLY SIRONA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from DENTSPLY SIRONA’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 2.10%. DENTSPLY SIRONA’s dividend payout ratio is currently -103.22%.

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.