First Eagle Investment Management LLC Boosts Stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

First Eagle Investment Management LLC boosted its holdings in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY) by 33.6% in the 2nd quarter, Holdings Channel reports. The fund owned 13,069,900 shares of the medical instruments supplier’s stock after acquiring an additional 3,283,965 shares during the quarter. First Eagle Investment Management LLC owned 0.06% of DENTSPLY SIRONA worth $325,571,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of XRAY. Nuance Investments LLC increased its stake in shares of DENTSPLY SIRONA by 3.8% in the 2nd quarter. Nuance Investments LLC now owns 10,879,916 shares of the medical instruments supplier’s stock worth $271,019,000 after acquiring an additional 402,329 shares during the last quarter. Wellington Management Group LLP increased its position in DENTSPLY SIRONA by 21.1% during the fourth quarter. Wellington Management Group LLP now owns 8,138,253 shares of the medical instruments supplier’s stock worth $289,640,000 after purchasing an additional 1,419,503 shares during the last quarter. Cooke & Bieler LP raised its stake in DENTSPLY SIRONA by 16.2% during the second quarter. Cooke & Bieler LP now owns 7,506,845 shares of the medical instruments supplier’s stock worth $186,996,000 after purchasing an additional 1,046,105 shares during the period. Generation Investment Management LLP raised its stake in DENTSPLY SIRONA by 43.4% during the fourth quarter. Generation Investment Management LLP now owns 6,598,211 shares of the medical instruments supplier’s stock worth $234,830,000 after purchasing an additional 1,998,012 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in DENTSPLY SIRONA by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,266,781 shares of the medical instruments supplier’s stock valued at $207,995,000 after purchasing an additional 343,915 shares during the last quarter. Institutional investors and hedge funds own 95.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of DENTSPLY SIRONA from $30.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price on shares of DENTSPLY SIRONA in a research note on Tuesday, August 20th. Evercore ISI decreased their price target on DENTSPLY SIRONA from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Robert W. Baird lowered their price target on DENTSPLY SIRONA from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $38.00 target price on shares of DENTSPLY SIRONA in a research report on Monday, July 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.44.

DENTSPLY SIRONA Stock Performance

Shares of DENTSPLY SIRONA stock opened at $26.71 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 0.87. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of -60.70, a price-to-earnings-growth ratio of 1.25 and a beta of 1.00. The business has a 50-day moving average of $25.52 and a 200 day moving average of $27.96. DENTSPLY SIRONA Inc. has a 12 month low of $23.58 and a 12 month high of $37.60.

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

DENTSPLY SIRONA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, September 27th. DENTSPLY SIRONA’s dividend payout ratio is currently -145.45%.

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.