Engine Capital Management LP Increases Stock Position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Engine Capital Management LP boosted its position in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 123.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 706,401 shares of the medical instruments supplier's stock after purchasing an additional 390,000 shares during the period. DENTSPLY SIRONA comprises 2.5% of Engine Capital Management LP's holdings, making the stock its 15th biggest holding. Engine Capital Management LP owned approximately 0.36% of DENTSPLY SIRONA worth $13,407,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in XRAY. Deutsche Bank AG boosted its position in DENTSPLY SIRONA by 29.7% in the 4th quarter. Deutsche Bank AG now owns 15,720 shares of the medical instruments supplier's stock valued at $298,000 after buying an additional 3,603 shares during the period. D. E. Shaw & Co. Inc. boosted its position in DENTSPLY SIRONA by 936.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 997,415 shares of the medical instruments supplier's stock valued at $18,931,000 after buying an additional 901,224 shares during the period. Colonial Trust Co SC purchased a new stake in DENTSPLY SIRONA in the 4th quarter valued at about $26,000. Crestline Management LP lifted its position in shares of DENTSPLY SIRONA by 152.4% in the 4th quarter. Crestline Management LP now owns 19,400 shares of the medical instruments supplier's stock worth $368,000 after purchasing an additional 11,715 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of DENTSPLY SIRONA in the 4th quarter worth approximately $8,048,000. 95.70% of the stock is currently owned by institutional investors.

Insider Transactions at DENTSPLY SIRONA

In other news, Director Gregory T. Lucier purchased 15,142 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $16.51 per share, with a total value of $249,994.42. Following the completion of the acquisition, the director now owns 81,971 shares of the company's stock, valued at approximately $1,353,341.21. This represents a 22.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on XRAY shares. StockNews.com raised shares of DENTSPLY SIRONA from a "hold" rating to a "buy" rating in a research report on Friday. Jefferies Financial Group lowered shares of DENTSPLY SIRONA from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $30.00 to $20.00 in a research note on Thursday, January 23rd. Needham & Company LLC reiterated a "hold" rating on shares of DENTSPLY SIRONA in a research note on Thursday, March 13th. Mizuho reduced their price objective on shares of DENTSPLY SIRONA from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, Piper Sandler reduced their price objective on shares of DENTSPLY SIRONA from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $20.36.

DENTSPLY SIRONA Stock Performance

DENTSPLY SIRONA stock traded up $0.94 during mid-day trading on Monday, reaching $16.75. 2,988,669 shares of the company traded hands, compared to its average volume of 2,959,557. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.84. DENTSPLY SIRONA Inc. has a fifty-two week low of $12.16 and a fifty-two week high of $28.69. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of -8.09, a price-to-earnings-growth ratio of 1.80 and a beta of 0.92. The firm's fifty day moving average is $14.37 and its two-hundred day moving average is $17.49.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.14. The business had revenue of $879.00 million for the quarter, compared to analyst estimates of $854.75 million. DENTSPLY SIRONA had a negative net margin of 10.59% and a positive return on equity of 12.62%. DENTSPLY SIRONA's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, equities research analysts expect that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current fiscal year.

DENTSPLY SIRONA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.82%. DENTSPLY SIRONA's payout ratio is currently -14.10%.

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.