Brandes Investment Partners LP Raises Position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Brandes Investment Partners LP raised its holdings in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY) by 102.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,638 shares of the medical instruments supplier’s stock after buying an additional 23,626 shares during the period. Brandes Investment Partners LP’s holdings in DENTSPLY SIRONA were worth $1,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of XRAY. 9258 Wealth Management LLC purchased a new stake in DENTSPLY SIRONA during the 4th quarter valued at about $203,000. TD Asset Management Inc boosted its stake in shares of DENTSPLY SIRONA by 37.5% during the fourth quarter. TD Asset Management Inc now owns 545,665 shares of the medical instruments supplier’s stock valued at $19,420,000 after purchasing an additional 148,788 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of DENTSPLY SIRONA by 103.0% in the fourth quarter. Allianz Asset Management GmbH now owns 363,382 shares of the medical instruments supplier’s stock worth $12,933,000 after purchasing an additional 184,334 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of DENTSPLY SIRONA by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 93,762 shares of the medical instruments supplier’s stock worth $3,337,000 after purchasing an additional 920 shares during the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of DENTSPLY SIRONA by 92.3% in the fourth quarter. Bank of Nova Scotia now owns 16,141 shares of the medical instruments supplier’s stock worth $574,000 after buying an additional 7,747 shares during the period. 95.70% of the stock is owned by institutional investors.

DENTSPLY SIRONA Price Performance

Shares of XRAY stock opened at $27.06 on Tuesday. The business’s fifty day moving average is $25.54 and its 200 day moving average is $27.56. The company has a quick ratio of 0.87, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of -61.50, a PEG ratio of 1.30 and a beta of 1.00. DENTSPLY SIRONA Inc. has a twelve month low of $23.58 and a twelve month high of $37.60.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The business had revenue of $984.00 million for the quarter, compared to analysts’ expectations of $993.61 million. DENTSPLY SIRONA had a negative net margin of 4.75% and a positive return on equity of 11.86%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. Research analysts expect that DENTSPLY SIRONA Inc. will post 1.99 EPS for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, September 27th. DENTSPLY SIRONA’s payout ratio is -145.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $34.00 price target on shares of DENTSPLY SIRONA in a research report on Tuesday, August 20th. Barrington Research reiterated an “outperform” rating and set a $36.00 target price on shares of DENTSPLY SIRONA in a report on Friday, September 20th. Robert W. Baird reduced their price target on DENTSPLY SIRONA from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Evercore ISI lowered their price target on DENTSPLY SIRONA from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, July 9th. Finally, Stifel Nicolaus cut their price objective on DENTSPLY SIRONA from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.22.

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.