State of New Jersey Common Pension Fund D Cuts Holdings in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

State of New Jersey Common Pension Fund D reduced its position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) by 32.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,159 shares of the medical instruments supplier’s stock after selling 36,461 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in DENTSPLY SIRONA were worth $1,897,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in DENTSPLY SIRONA by 44.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 141,117 shares of the medical instruments supplier’s stock worth $4,684,000 after purchasing an additional 43,230 shares during the last quarter. Seven Eight Capital LP purchased a new position in DENTSPLY SIRONA in the first quarter worth $1,409,000. Illinois Municipal Retirement Fund grew its holdings in DENTSPLY SIRONA by 369.9% in the first quarter. Illinois Municipal Retirement Fund now owns 123,580 shares of the medical instruments supplier’s stock worth $4,102,000 after purchasing an additional 97,281 shares during the last quarter. Intech Investment Management LLC purchased a new position in DENTSPLY SIRONA in the first quarter worth $1,202,000. Finally, Duality Advisers LP acquired a new stake in shares of DENTSPLY SIRONA during the first quarter worth $1,166,000. 95.70% of the stock is owned by hedge funds and other institutional investors.

DENTSPLY SIRONA Trading Down 2.3 %

NASDAQ XRAY opened at $26.29 on Monday. The company has a market capitalization of $5.46 billion, a PE ratio of -59.75, a P/E/G ratio of 1.25 and a beta of 1.00. The company has a fifty day moving average of $25.56 and a 200 day moving average of $27.82. DENTSPLY SIRONA Inc. has a 1 year low of $23.58 and a 1 year high of $37.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 0.87.

DENTSPLY SIRONA (NASDAQ:XRAY) last posted its 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 analyst estimates 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 for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Research analysts forecast that DENTSPLY SIRONA Inc. will post 1.99 earnings per share for the current year.

DENTSPLY SIRONA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.64 dividend on an annualized basis and a yield of 2.43%. DENTSPLY SIRONA’s payout ratio is -145.45%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective on shares of DENTSPLY SIRONA in a research note on Tuesday, August 20th. Robert W. Baird lowered their price objective on shares of DENTSPLY SIRONA from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Evercore ISI lowered their price objective on shares of DENTSPLY SIRONA from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Barrington Research reiterated an “outperform” rating and set a $36.00 price objective on shares of DENTSPLY SIRONA in a research note on Friday. Finally, Stifel Nicolaus lowered their price objective on shares of DENTSPLY SIRONA from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.22.

DENTSPLY SIRONA Company 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.