First Citizens Bank & Trust Co. acquired a new position in shares of DENTSPLY SIRONA Inc (NASDAQ:XRAY) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,689 shares of the medical instruments supplier’s stock, valued at approximately $332,000.
A number of other institutional investors have also recently modified their holdings of XRAY. Morgan Stanley grew its stake in DENTSPLY SIRONA by 1,233.9% during the third quarter. Morgan Stanley now owns 5,242,702 shares of the medical instruments supplier’s stock worth $197,860,000 after buying an additional 4,849,652 shares during the last quarter. Norges Bank bought a new stake in DENTSPLY SIRONA during the fourth quarter worth about $73,734,000. DNB Asset Management AS grew its stake in DENTSPLY SIRONA by 1,649.5% during the fourth quarter. DNB Asset Management AS now owns 1,924,560 shares of the medical instruments supplier’s stock worth $71,613,000 after buying an additional 1,814,556 shares during the last quarter. Mackenzie Financial Corp grew its stake in DENTSPLY SIRONA by 17.3% during the fourth quarter. Mackenzie Financial Corp now owns 10,090,056 shares of the medical instruments supplier’s stock worth $375,451,000 after buying an additional 1,490,134 shares during the last quarter. Finally, Consulta Ltd bought a new stake in DENTSPLY SIRONA during the fourth quarter worth about $29,768,000. 96.30% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on XRAY shares. BidaskClub raised shares of DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 12th. Zacks Investment Research raised shares of DENTSPLY SIRONA from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Saturday, March 9th. HC Wainwright reaffirmed a “neutral” rating and set a $49.00 price objective (up from $40.00) on shares of DENTSPLY SIRONA in a research note on Monday, March 4th. Bank of America started coverage on shares of DENTSPLY SIRONA in a research note on Monday, March 18th. They set a “buy” rating and a $57.00 price objective on the stock. Finally, Barclays set a $49.00 price objective on shares of DENTSPLY SIRONA and gave the stock a “hold” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $52.12.
DENTSPLY SIRONA (NASDAQ:XRAY) last announced its earnings results on Friday, March 1st. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. DENTSPLY SIRONA had a negative net margin of 25.36% and a positive return on equity of 8.21%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned $0.82 earnings per share. DENTSPLY SIRONA’s quarterly revenue was down 2.9% on a year-over-year basis. Research analysts predict that DENTSPLY SIRONA Inc will post 2.31 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $0.087 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.69%. DENTSPLY SIRONA’s payout ratio is 17.41%.
DENTSPLY SIRONA Profile
DENTSPLY SIRONA Inc designs, develops, manufactures, and markets various dental and oral health products, and other consumable healthcare products primarily for the professional dental market worldwide. The company operates in two segments, Technologies & Equipment; and Consumables. Its dental supplies include endodontic instruments and materials, dental anesthetics, prophylaxis pastes, dental sealants, impression materials, restorative materials, tooth whiteners, and topical fluoride products; and small equipment products comprise dental hand pieces, intraoral curing light systems, dental diagnostic systems, and ultrasonic scalers and polishers.
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