332,048 Shares in DENTSPLY SIRONA Inc. $XRAY Purchased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital acquired 332,048 DENTSPLY SIRONA shares worth approximately $3.85 million, while institutional investors collectively own 95.70% of the company.
• DENTSPLY SIRONA reported quarterly revenue of $880 million, exceeding estimates, but earnings per share of $0.27 slightly missed consensus and net margins remained negative.
• Analyst sentiment is cautious, with the stock carrying a consensus “Hold” rating and a $13.46 price target; meanwhile, company insiders purchased 35,160 shares worth about $351,000 over the past three months.

Arrowstreet Capital Limited Partnership acquired a new stake in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 332,048 shares of the medical instruments supplier's stock, valued at approximately $3,852,000. Arrowstreet Capital Limited Partnership owned about 0.17% of DENTSPLY SIRONA as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Eagle Investment Management LLC lifted its stake in shares of DENTSPLY SIRONA by 3.2% in the fourth quarter. First Eagle Investment Management LLC now owns 14,640,555 shares of the medical instruments supplier's stock worth $167,342,000 after buying an additional 458,744 shares in the last quarter. AQR Capital Management LLC increased its position in shares of DENTSPLY SIRONA by 109.8% during the second quarter. AQR Capital Management LLC now owns 13,316,771 shares of the medical instruments supplier's stock valued at $211,470,000 after acquiring an additional 6,970,086 shares in the last quarter. Lazard Asset Management LLC raised its holdings in DENTSPLY SIRONA by 0.9% in the 3rd quarter. Lazard Asset Management LLC now owns 10,200,525 shares of the medical instruments supplier's stock worth $129,445,000 after acquiring an additional 92,868 shares during the last quarter. Armistice Capital LLC raised its holdings in DENTSPLY SIRONA by 27.2% in the 4th quarter. Armistice Capital LLC now owns 7,298,000 shares of the medical instruments supplier's stock worth $83,416,000 after acquiring an additional 1,562,000 shares during the last quarter. Finally, State Street Corp lifted its position in DENTSPLY SIRONA by 5.5% in the 2nd quarter. State Street Corp now owns 7,099,906 shares of the medical instruments supplier's stock valued at $113,868,000 after acquiring an additional 369,876 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors.

DENTSPLY SIRONA Stock Performance

Shares of NASDAQ XRAY opened at $14.13 on Tuesday. The firm has a 50 day moving average of $11.52 and a 200 day moving average of $11.86. The company has a current ratio of 1.53, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -4.49, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. DENTSPLY SIRONA Inc. has a 12-month low of $9.40 and a 12-month high of $14.86.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The medical instruments supplier reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $880.00 million during the quarter, compared to the consensus estimate of $841.80 million. DENTSPLY SIRONA had a positive return on equity of 18.83% and a negative net margin of 17.06%.The firm's revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, research analysts anticipate that DENTSPLY SIRONA Inc. will post 1.42 earnings per share for the current year.

Insider Transactions at DENTSPLY SIRONA

In related news, Director Brian P. Mckeon bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average cost of $10.12 per share, with a total value of $101,200.00. Following the acquisition, the director owned 10,000 shares in the company, valued at $101,200. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian T. Gladden purchased 9,985 shares of DENTSPLY SIRONA stock in a transaction on Monday, June 15th. The stock was bought at an average price of $10.02 per share, with a total value of $100,049.70. Following the transaction, the director owned 61,849 shares of the company's stock, valued at approximately $619,726.98. This represents a 19.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 35,160 shares of company stock worth $351,179 in the last three months. Corporate insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on XRAY. Barclays dropped their price objective on DENTSPLY SIRONA from $12.00 to $9.00 and set an "underweight" rating on the stock in a research report on Thursday, June 4th. Citigroup assumed coverage on DENTSPLY SIRONA in a research report on Wednesday, April 15th. They issued a "sell" rating and a $10.00 target price for the company. Mizuho lowered their target price on shares of DENTSPLY SIRONA from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of DENTSPLY SIRONA from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 6th. Finally, BMO Capital Markets assumed coverage on shares of DENTSPLY SIRONA in a research note on Wednesday, July 8th. They issued a "market perform" rating and a $12.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $13.46.

About DENTSPLY SIRONA

Dentsply Sirona Inc NASDAQ: XRAY is a leading global manufacturer of professional dental products and technologies. The company, formed through the merger of Dentsply International and Sirona Dental Systems in February 2016, brings together a long heritage of innovation in dental care. Headquartered in Charlotte, North Carolina, Dentsply Sirona develops and markets a comprehensive range of dental consumables, laboratory products, and advanced imaging and CAD/CAM systems.

The company's product portfolio spans preventive, restorative, orthodontic, endodontic and surgical care.

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