Bank of New York Mellon Corp Sells 140,897 Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Bank of New York Mellon Corp lowered its position in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,262,213 shares of the medical instruments supplier's stock after selling 140,897 shares during the quarter. Bank of New York Mellon Corp owned 1.14% of DENTSPLY SIRONA worth $33,797,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of XRAY. Nuance Investments LLC lifted its stake in shares of DENTSPLY SIRONA by 25.0% during the 4th quarter. Nuance Investments LLC now owns 13,545,981 shares of the medical instruments supplier's stock valued at $257,103,000 after buying an additional 2,708,097 shares in the last quarter. Norges Bank purchased a new position in shares of DENTSPLY SIRONA in the fourth quarter valued at about $45,730,000. AQR Capital Management LLC boosted its stake in shares of DENTSPLY SIRONA by 245.1% in the fourth quarter. AQR Capital Management LLC now owns 2,893,023 shares of the medical instruments supplier's stock worth $54,389,000 after acquiring an additional 2,054,767 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of DENTSPLY SIRONA by 18.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,549,242 shares of the medical instruments supplier's stock worth $238,186,000 after acquiring an additional 1,975,404 shares during the period. Finally, Invenomic Capital Management LP grew its position in shares of DENTSPLY SIRONA by 201.0% during the fourth quarter. Invenomic Capital Management LP now owns 2,639,161 shares of the medical instruments supplier's stock worth $50,091,000 after purchasing an additional 1,762,428 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors.

DENTSPLY SIRONA Trading Down 0.6%

XRAY stock traded down $0.10 during midday trading on Friday, reaching $15.68. 1,688,079 shares of the company traded hands, compared to its average volume of 2,902,541. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -3.45, a P/E/G ratio of 1.13 and a beta of 0.94. DENTSPLY SIRONA Inc. has a 52-week low of $12.16 and a 52-week high of $27.95. The business has a 50 day moving average of $16.07 and a 200-day moving average of $16.29. 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 quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.14. The company 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%. DENTSPLY SIRONA's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. As a group, sell-side analysts expect that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.08%. DENTSPLY SIRONA's dividend payout ratio is presently -14.10%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on XRAY. UBS Group dropped their price target on DENTSPLY SIRONA from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Wall Street Zen raised shares of DENTSPLY SIRONA from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Barrington Research lifted their price target on shares of DENTSPLY SIRONA from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Morgan Stanley downgraded shares of DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 price objective for the company. in a report on Tuesday, April 15th. Finally, Piper Sandler cut 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. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $20.36.

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.