American Century Companies Inc. Sells 2,639,277 Shares of DENTSPLY SIRONA Inc. $XRAY

Key Points

• American Century Companies Inc. significantly reduced its stake in DENTSPLY SIRONA, selling 2,639,277 shares to end the quarter with approximately 1.23 million shares owned, a 68.1% decrease from the previous holdings.
• Despite American Century's sell-off, other hedge funds notably increased their positions, with Caitong International Asset Management raising its stake by an astonishing 8,003.6%.
• On the earnings front, DENTSPLY SIRONA reported $0.52 EPS for the last quarter, surpassing the analysts' estimate of $0.50, even as its quarterly revenue declined by 4.9% year-over-year.

American Century Companies Inc. trimmed its holdings in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 68.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,234,368 shares of the medical instruments supplier's stock after selling 2,639,277 shares during the quarter. American Century Companies Inc. owned approximately 0.62% of DENTSPLY SIRONA worth $18,441,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of DENTSPLY SIRONA by 8,003.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,269 shares of the medical instruments supplier's stock worth $34,000 after purchasing an additional 2,241 shares during the period. LGT Group Foundation boosted its position in shares of DENTSPLY SIRONA by 18.4% in the first quarter. LGT Group Foundation now owns 101,731 shares of the medical instruments supplier's stock worth $1,520,000 after purchasing an additional 15,799 shares during the period. QVIDTVM Management LLC boosted its position in shares of DENTSPLY SIRONA by 1.1% during the first quarter. QVIDTVM Management LLC now owns 463,866 shares of the medical instruments supplier's stock worth $6,930,000 after acquiring an additional 5,000 shares during the last quarter. Nuveen LLC bought a new position in shares of DENTSPLY SIRONA during the first quarter worth $6,299,000. Finally, Aigen Investment Management LP bought a new position in shares of DENTSPLY SIRONA during the first quarter worth $177,000. 95.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of DENTSPLY SIRONA in a research report on Monday, July 21st. Piper Sandler decreased their price target on shares of DENTSPLY SIRONA from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Barrington Research decreased their price target on shares of DENTSPLY SIRONA from $21.00 to $18.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Wall Street Zen downgraded shares of DENTSPLY SIRONA from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Stifel Nicolaus reduced their target price on shares of DENTSPLY SIRONA from $19.00 to $17.00 and set a "hold" rating on the stock in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $18.64.

DENTSPLY SIRONA Trading Up 5.5%

NASDAQ XRAY opened at $14.66 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 1.13. DENTSPLY SIRONA Inc. has a 12 month low of $12.16 and a 12 month high of $27.48. The company's 50-day moving average price is $15.27 and its 200-day moving average price is $15.47. The stock has a market cap of $2.92 billion, a PE ratio of -3.09, a PEG ratio of 0.91 and a beta of 0.94.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last issued its earnings results on Thursday, August 7th. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. DENTSPLY SIRONA had a negative net margin of 25.85% and a positive return on equity of 16.33%. The company had revenue of $936.00 million for the quarter, compared to analysts' expectations of $929.67 million. During the same period in the prior year, the business earned $0.49 EPS. The firm's quarterly revenue was down 4.9% on a year-over-year basis. DENTSPLY SIRONA has set its FY 2025 guidance at 1.800-2.000 EPS. Equities research analysts forecast that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current year.

DENTSPLY SIRONA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, September 26th. DENTSPLY SIRONA's dividend payout ratio (DPR) is currently -13.50%.

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.

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