DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Shares Bought by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC increased its stake in DENTSPLY SIRONA by 17.1% during the first quarter, acquiring a total of 160,773 shares valued at approximately $2.4 million.
• DENTSPLY SIRONA reported earnings of $0.43 per share, exceeding analysts' expectations of $0.29, with total revenue of $879 million for the quarter.
• Institutional investors own about 95.70% of DENTSPLY SIRONA's stock, indicating strong market confidence in the company.

ARK Investment Management LLC grew its position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,773 shares of the medical instruments supplier's stock after purchasing an additional 23,448 shares during the period. ARK Investment Management LLC owned about 0.08% of DENTSPLY SIRONA worth $2,402,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of DENTSPLY SIRONA by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,183,260 shares of the medical instruments supplier's stock valued at $383,078,000 after purchasing an additional 65,478 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in DENTSPLY SIRONA by 18.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,549,242 shares of the medical instruments supplier's stock valued at $238,186,000 after purchasing an additional 1,975,404 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of DENTSPLY SIRONA by 2.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 11,539,418 shares of the medical instruments supplier's stock valued at $219,018,000 after acquiring an additional 314,343 shares in the last quarter. Lazard Asset Management LLC lifted its stake in DENTSPLY SIRONA by 23.0% in the fourth quarter. Lazard Asset Management LLC now owns 8,044,228 shares of the medical instruments supplier's stock valued at $152,678,000 after purchasing an additional 1,505,928 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of DENTSPLY SIRONA by 21.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,851,869 shares of the medical instruments supplier's stock valued at $130,045,000 after purchasing an additional 1,230,944 shares in the last quarter. Institutional investors own 95.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on XRAY. Barrington Research reissued an "outperform" rating and issued a $21.00 target price on shares of DENTSPLY SIRONA in a research note on Tuesday, July 22nd. Wall Street Zen upgraded shares of DENTSPLY SIRONA from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Morgan Stanley downgraded 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 note on Tuesday, April 15th. UBS Group cut their target price on shares of DENTSPLY SIRONA from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Needham & Company LLC restated a "hold" rating on shares of DENTSPLY SIRONA in a report on Monday, July 21st. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, DENTSPLY SIRONA presently has an average rating of "Hold" and an average target price of $19.60.

DENTSPLY SIRONA Stock Down 0.7%

Shares of NASDAQ:XRAY traded down $0.12 during trading on Wednesday, hitting $16.00. 856,545 shares of the company's stock traded hands, compared to its average volume of 2,824,645. DENTSPLY SIRONA Inc. has a 52 week low of $12.16 and a 52 week high of $27.95. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $16.02 and a 200-day moving average price of $16.16. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -3.52, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $879.00 million for the quarter, compared to analyst estimates of $854.75 million. DENTSPLY SIRONA had a positive return on equity of 14.31% and a negative net margin of 24.42%. The company's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. As a group, research analysts forecast that DENTSPLY SIRONA Inc. will post 1.84 EPS for the current fiscal year.

DENTSPLY SIRONA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.16 per share. The ex-dividend date was Friday, June 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.00%. DENTSPLY SIRONA's dividend payout ratio is presently -14.10%.

About DENTSPLY SIRONA

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.