DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Shares Sold by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC reduced its holdings in DENTSPLY SIRONA Inc. by 29.6%, selling 18,954 shares during the first quarter, leaving them with 45,089 shares valued at $674,000.
• DENTSPLY SIRONA reported a quarterly EPS of $0.43, exceeding the consensus estimate of $0.29, while its revenue fell by 7.8% year-over-year to $879 million.
• The company announced a quarterly dividend of $0.16 per share, resulting in a 3.99% dividend yield, despite a current payout ratio of -14.10%.

Bryce Point Capital LLC cut its holdings in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 29.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,089 shares of the medical instruments supplier's stock after selling 18,954 shares during the quarter. Bryce Point Capital LLC's holdings in DENTSPLY SIRONA were worth $674,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in XRAY. Vanguard Group Inc. raised its stake 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 acquiring an additional 65,478 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in DENTSPLY SIRONA by 18.7% in 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 in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in DENTSPLY SIRONA by 2.8% in the 4th 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 purchasing an additional 314,343 shares in the last quarter. Lazard Asset Management LLC raised its position in DENTSPLY SIRONA by 23.0% in the 4th 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 1,230,944 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barrington Research reissued an "outperform" rating and set a $21.00 price objective on shares of DENTSPLY SIRONA in a report on Tuesday, July 22nd. Wall Street Zen raised shares of DENTSPLY SIRONA from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Piper Sandler dropped their price objective 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. Needham & Company LLC reissued a "hold" rating on shares of DENTSPLY SIRONA in a report on Monday, July 21st. Finally, Morgan Stanley cut DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 target price on the stock. in a research report on Tuesday, April 15th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $19.60.

DENTSPLY SIRONA Trading Down 5.7%

NASDAQ XRAY traded down $0.89 during mid-day trading on Thursday, reaching $14.59. 2,579,692 shares of the stock were exchanged, compared to its average volume of 2,838,240. DENTSPLY SIRONA Inc. has a 1-year low of $12.16 and a 1-year high of $27.95. The business's fifty day simple moving average is $16.02 and its 200 day simple moving average is $16.16. The stock has a market capitalization of $2.91 billion, a PE ratio of -3.21, a PEG ratio of 1.15 and a beta of 0.94. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 1.10.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last released its earnings results on Thursday, May 8th. The medical instruments supplier reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $854.75 million. During the same period last year, the company earned $0.42 earnings per share. The company's quarterly revenue was down 7.8% on a year-over-year basis. On average, research analysts anticipate that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current fiscal year.

DENTSPLY SIRONA Announces Dividend

The firm also recently announced 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. The ex-dividend date was Friday, June 27th. This represents a $0.64 annualized dividend and a dividend yield of 4.39%. DENTSPLY SIRONA's payout ratio is -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.