Nuance Investments LLC Has $134.27 Million Stock Position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Key Points

• Nuance Investments LLC has reduced its holdings in DENTSPLY SIRONA by 33.7%, now owning approximately 8.8% of the company, making it their second largest position.
• Several research firms have recently dropped their price targets for DENTSPLY SIRONA, with Stifel Nicolaus lowering it from $19.00 to $17.00 and Morgan Stanley setting a target of $14.00.
• DENTSPLY SIRONA announced a quarterly dividend of $0.16 per share, reflecting a 5.1% annualized dividend yield, which will be paid on October 10th.

Nuance Investments LLC lowered its holdings in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 33.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,987,359 shares of the medical instruments supplier's stock after selling 4,558,622 shares during the period. DENTSPLY SIRONA makes up about 8.8% of Nuance Investments LLC's holdings, making the stock its 2nd biggest position. Nuance Investments LLC owned 4.51% of DENTSPLY SIRONA worth $134,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in DENTSPLY SIRONA by 9.0% in the first quarter. Envestnet Asset Management Inc. now owns 494,737 shares of the medical instruments supplier's stock worth $7,391,000 after acquiring an additional 40,936 shares in the last quarter. Brown Advisory Inc. bought a new position in DENTSPLY SIRONA in the first quarter worth approximately $679,000. Comerica Bank lifted its holdings in shares of DENTSPLY SIRONA by 41.2% in the fourth quarter. Comerica Bank now owns 225,080 shares of the medical instruments supplier's stock valued at $4,272,000 after purchasing an additional 65,709 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of DENTSPLY SIRONA by 268.5% in the fourth quarter. Cerity Partners LLC now owns 65,588 shares of the medical instruments supplier's stock valued at $1,294,000 after purchasing an additional 47,788 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of DENTSPLY SIRONA by 39.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 53,903 shares of the medical instruments supplier's stock valued at $805,000 after purchasing an additional 15,117 shares in the last quarter. Institutional investors own 95.70% of the company's stock.

DENTSPLY SIRONA Stock Performance

NASDAQ:XRAY traded up $0.80 during trading hours on Wednesday, reaching $13.85. The stock had a trading volume of 5,062,970 shares, compared to its average volume of 4,285,305. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.11 and a current ratio of 1.69. The stock has a 50 day simple moving average of $15.54 and a 200 day simple moving average of $15.79. DENTSPLY SIRONA Inc. has a 12-month low of $12.16 and a 12-month high of $27.48. The stock has a market cap of $2.76 billion, a P/E ratio of -2.92, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last released its earnings results on Thursday, August 7th. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. DENTSPLY SIRONA had a positive return on equity of 16.33% and a negative net margin of 25.85%. The business had revenue of $936.00 million during the quarter, compared to the consensus estimate of $929.67 million. During the same period last year, the business posted $0.49 earnings per share. The business's revenue for the quarter was down 4.9% on a year-over-year basis. On average, research analysts forecast that DENTSPLY SIRONA Inc. will post 1.84 EPS for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, September 26th. DENTSPLY SIRONA's dividend payout ratio (DPR) is currently -13.50%.

Wall Street Analyst Weigh In

XRAY has been the topic of a number of recent research reports. UBS Group dropped their target price on DENTSPLY SIRONA from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Morgan Stanley lowered DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 target price on the stock. in a report on Tuesday, April 15th. Wall Street Zen lowered DENTSPLY SIRONA from a "buy" rating to a "hold" rating in a report on Saturday. Piper Sandler dropped their target price on DENTSPLY SIRONA from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, Stifel Nicolaus dropped their target price on DENTSPLY SIRONA from $19.00 to $17.00 and set a "hold" rating on the stock in a report on Friday, August 8th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $18.64.

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.