DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Position Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) by 19.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 131,593 shares of the medical instruments supplier’s stock after selling 32,597 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in DENTSPLY SIRONA were worth $4,683,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its stake in shares of DENTSPLY SIRONA by 3.2% during the second quarter. Macquarie Group Ltd. now owns 8,879 shares of the medical instruments supplier’s stock valued at $318,000 after purchasing an additional 274 shares in the last quarter. Beach Investment Counsel Inc. PA raised its position in DENTSPLY SIRONA by 1.4% in the fourth quarter. Beach Investment Counsel Inc. PA now owns 22,125 shares of the medical instruments supplier’s stock worth $787,000 after acquiring an additional 306 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in DENTSPLY SIRONA by 5.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,950 shares of the medical instruments supplier’s stock worth $237,000 after acquiring an additional 359 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in DENTSPLY SIRONA by 4.9% in the third 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 in the last quarter. Finally, VisionPoint Advisory Group LLC raised its position in DENTSPLY SIRONA by 104.2% in the third quarter. VisionPoint Advisory Group LLC now owns 774 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 395 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

XRAY has been the topic of several research reports. Barrington Research reiterated an “outperform” rating and issued a $41.00 price target on shares of DENTSPLY SIRONA in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price target on shares of DENTSPLY SIRONA in a research note on Thursday, February 29th. SVB Leerink began coverage on DENTSPLY SIRONA in a research note on Monday, February 26th. They issued an “outperform” rating and a $42.00 price target on the stock. Leerink Partnrs reissued an “outperform” rating on shares of DENTSPLY SIRONA in a research note on Monday, February 26th. Finally, Piper Sandler lifted their price target on DENTSPLY SIRONA from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

DENTSPLY SIRONA Stock Performance

NASDAQ:XRAY opened at $30.50 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. DENTSPLY SIRONA Inc. has a fifty-two week low of $26.27 and a fifty-two week high of $43.24. The stock’s 50-day moving average is $32.79 and its two-hundred day moving average is $32.84.

DENTSPLY SIRONA (NASDAQ:XRAY) last announced its quarterly earnings results on Thursday, February 29th. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $972.61 million. DENTSPLY SIRONA had a positive return on equity of 11.14% and a negative net margin of 3.33%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. Sell-side 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 declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.10%. This is a positive change from DENTSPLY SIRONA’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, March 27th. DENTSPLY SIRONA’s payout ratio is currently -103.22%.

DENTSPLY SIRONA 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.