Bayforest Capital Ltd Acquires 18,434 Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Key Points

• Bayforest Capital Ltd significantly increased its stake in DENTSPLY SIRONA by 822.2%, acquiring an additional 18,434 shares, bringing its total holdings to $309,000.
• Several hedge funds also boosted their positions in DENTSPLY SIRONA, with Federated Hermes Inc. increasing its stake by 38.6% to own 234,604 shares valued at approximately $3.5 million.
• DENTSPLY SIRONA recently declared a quarterly dividend of $0.16 per share, yielding 4.5%, despite a negative net margin of -24.42%.

Bayforest Capital Ltd boosted its holdings in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 822.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,676 shares of the medical instruments supplier's stock after purchasing an additional 18,434 shares during the quarter. Bayforest Capital Ltd's holdings in DENTSPLY SIRONA were worth $309,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its stake in DENTSPLY SIRONA by 38.6% during the 1st quarter. Federated Hermes Inc. now owns 234,604 shares of the medical instruments supplier's stock valued at $3,505,000 after purchasing an additional 65,300 shares during the period. ARK Investment Management LLC boosted its stake in DENTSPLY SIRONA by 17.1% during the 1st quarter. ARK Investment Management LLC now owns 160,773 shares of the medical instruments supplier's stock valued at $2,402,000 after purchasing an additional 23,448 shares during the period. Heartland Advisors Inc. boosted its stake in DENTSPLY SIRONA by 31.1% during the 1st quarter. Heartland Advisors Inc. now owns 933,850 shares of the medical instruments supplier's stock valued at $13,952,000 after purchasing an additional 221,450 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in DENTSPLY SIRONA during the 1st quarter valued at approximately $287,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in DENTSPLY SIRONA by 128.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 49,926 shares of the medical instruments supplier's stock valued at $746,000 after purchasing an additional 28,053 shares during the period. Institutional investors own 95.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on XRAY. Piper Sandler reduced their price objective on DENTSPLY SIRONA from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Needham & Company LLC reiterated a "hold" rating on shares of DENTSPLY SIRONA in a research report on Monday, July 21st. Morgan Stanley downgraded DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 price objective for the company. in a research report on Tuesday, April 15th. UBS Group reduced their price objective on DENTSPLY SIRONA from $27.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Wall Street Zen upgraded DENTSPLY SIRONA from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $19.60.

DENTSPLY SIRONA Price Performance

DENTSPLY SIRONA stock opened at $14.31 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.10 and a quick ratio of 0.76. The company has a market capitalization of $2.85 billion, a PE ratio of -3.15, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. DENTSPLY SIRONA Inc. has a one year low of $12.16 and a one year high of $27.95. The business has a 50 day simple moving average of $15.98 and a 200 day simple moving average of $16.12.

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

DENTSPLY SIRONA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Friday, June 27th. DENTSPLY SIRONA's dividend payout ratio (DPR) 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.

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