Allianz Asset Management GmbH Acquires 193,409 Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Key Points

• Allianz Asset Management GmbH increased its stake in DENTSPLY SIRONA Inc. by 57.4%, acquiring 193,409 shares and now holds about 0.27% of the company valued at approximately $7.9 million.
• The current average analyst rating for DENTSPLY SIRONA is a "Hold", with a consensus target price of $19.60 following various reports from major investment firms.
• DENTSPLY SIRONA reported a quarterly earnings per share of $0.43, exceeding expectations, but its revenue fell 7.8% year-over-year.

Allianz Asset Management GmbH boosted its stake in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 57.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 530,257 shares of the medical instruments supplier's stock after purchasing an additional 193,409 shares during the period. Allianz Asset Management GmbH owned approximately 0.27% of DENTSPLY SIRONA worth $7,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in DENTSPLY SIRONA in the first quarter valued at $25,000. Colonial Trust Co SC bought a new stake in shares of DENTSPLY SIRONA in the 4th quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in DENTSPLY SIRONA by 700.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,792 shares of the medical instruments supplier's stock valued at $33,000 after purchasing an additional 1,568 shares in the last quarter. True Wealth Design LLC grew its position in DENTSPLY SIRONA by 866.7% in the fourth quarter. True Wealth Design LLC now owns 2,175 shares of the medical instruments supplier's stock worth $41,000 after acquiring an additional 1,950 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of DENTSPLY SIRONA by 175.8% during the 1st quarter. Allworth Financial LP now owns 3,949 shares of the medical instruments supplier's stock worth $54,000 after buying an additional 2,517 shares during the period. 95.70% of the stock is owned by institutional investors and hedge funds.

DENTSPLY SIRONA Price Performance

Shares of DENTSPLY SIRONA stock traded down $0.85 during midday trading on Thursday, reaching $14.62. The company had a trading volume of 1,701,313 shares, compared to its average volume of 2,830,988. The stock has a fifty day simple moving average of $16.02 and a 200 day simple moving average of $16.16. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. DENTSPLY SIRONA Inc. has a 1-year low of $12.16 and a 1-year high of $27.95. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -3.22, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.14. DENTSPLY SIRONA had a negative net margin of 24.42% and a positive return on equity of 14.31%. The business had revenue of $879.00 million for the quarter, compared to analyst estimates of $854.75 million. During the same quarter in the prior year, the business earned $0.42 EPS. DENTSPLY SIRONA's quarterly revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts forecast that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current year.

DENTSPLY SIRONA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, June 27th. DENTSPLY SIRONA's dividend payout ratio (DPR) is currently -14.10%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Morgan Stanley cut shares of DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 target price for the company. in a research report on Tuesday, April 15th. UBS Group dropped their price target on shares of DENTSPLY SIRONA from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC reiterated a "hold" rating on shares of DENTSPLY SIRONA in a research note on Monday, July 21st. Wall Street Zen upgraded shares of DENTSPLY SIRONA from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Finally, Barrington Research reiterated an "outperform" rating and set a $21.00 target price on shares of DENTSPLY SIRONA in a research report on Tuesday, July 22nd. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $19.60.

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.