Allspring Global Investments Holdings LLC Reduces Holdings in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Allspring Global Investments Holdings LLC lessened its holdings in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) by 32.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,462 shares of the medical instruments supplier’s stock after selling 42,131 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DENTSPLY SIRONA were worth $2,969,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FMR LLC lifted its stake in DENTSPLY SIRONA by 42.1% in the 3rd quarter. FMR LLC now owns 257,300 shares of the medical instruments supplier’s stock valued at $8,789,000 after buying an additional 76,261 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of DENTSPLY SIRONA by 9.4% during the third quarter. Natixis Advisors L.P. now owns 25,917 shares of the medical instruments supplier’s stock valued at $885,000 after acquiring an additional 2,217 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in DENTSPLY SIRONA during the 3rd quarter worth about $203,000. Trexquant Investment LP lifted its holdings in DENTSPLY SIRONA by 67.7% in the 3rd quarter. Trexquant Investment LP now owns 37,484 shares of the medical instruments supplier’s stock valued at $1,280,000 after purchasing an additional 15,131 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of DENTSPLY SIRONA by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 92,842 shares of the medical instruments supplier’s stock worth $3,171,000 after purchasing an additional 470 shares during the last quarter. 95.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gregory T. Lucier purchased 3,577 shares of DENTSPLY SIRONA stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $27.95 per share, with a total value of $99,977.15. Following the transaction, the director now owns 58,374 shares of the company’s stock, valued at approximately $1,631,553.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.52% of the company’s stock.

DENTSPLY SIRONA Stock Down 0.8 %

XRAY opened at $24.44 on Wednesday. DENTSPLY SIRONA Inc. has a 1 year low of $24.43 and a 1 year high of $41.65. The firm has a 50 day moving average price of $27.48 and a 200 day moving average price of $31.57. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.97 and a current ratio of 1.43. The company has a market cap of $5.07 billion, a PE ratio of -55.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $953.00 million during the quarter, compared to analyst estimates of $969.45 million. DENTSPLY SIRONA had a negative net margin of 2.41% and a positive return on equity of 11.54%. During the same quarter in the prior year, the business earned $0.39 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Sell-side analysts expect that DENTSPLY SIRONA Inc. will post 2.02 earnings per share for the current year.

DENTSPLY SIRONA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, June 28th. DENTSPLY SIRONA’s payout ratio is -145.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC cut their price objective on shares of DENTSPLY SIRONA from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Robert W. Baird reduced their price target on DENTSPLY SIRONA from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Barrington Research lowered their price objective on DENTSPLY SIRONA from $41.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. The Goldman Sachs Group reduced their target price on DENTSPLY SIRONA from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Finally, StockNews.com cut DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.44.

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.