VELA Investment Management LLC Has $248,000 Stock Position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

VELA Investment Management LLC cut its holdings in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 66.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,633 shares of the medical instruments supplier's stock after selling 32,468 shares during the quarter. VELA Investment Management LLC's holdings in DENTSPLY SIRONA were worth $248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XRAY. Principal Financial Group Inc. raised its stake in DENTSPLY SIRONA by 0.4% during the first quarter. Principal Financial Group Inc. now owns 457,397 shares of the medical instruments supplier's stock worth $6,834,000 after purchasing an additional 1,708 shares during the period. Teacher Retirement System of Texas raised its stake in DENTSPLY SIRONA by 65.7% during the first quarter. Teacher Retirement System of Texas now owns 32,008 shares of the medical instruments supplier's stock worth $478,000 after purchasing an additional 12,696 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in DENTSPLY SIRONA during the first quarter worth about $25,000. Lecap Asset Management Ltd. purchased a new position in DENTSPLY SIRONA during the first quarter worth about $761,000. Finally, Blue Trust Inc. raised its stake in DENTSPLY SIRONA by 57.7% during the first quarter. Blue Trust Inc. now owns 12,554 shares of the medical instruments supplier's stock worth $188,000 after purchasing an additional 4,595 shares during the period. 95.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on XRAY. Piper Sandler reduced their target price 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. Wall Street Zen downgraded shares of DENTSPLY SIRONA from a "buy" rating to a "hold" rating in a research note on Saturday. Barrington Research boosted their price target on shares of DENTSPLY SIRONA from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Mizuho reduced their price target on shares of DENTSPLY SIRONA from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley downgraded shares of DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 price target on the stock. in a research note on Tuesday, April 15th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, DENTSPLY SIRONA has a consensus rating of "Hold" and an average target price of $20.36.

DENTSPLY SIRONA Stock Down 0.2%

NASDAQ XRAY traded down $0.04 during trading hours on Friday, reaching $16.54. 1,623,756 shares of the company traded hands, compared to its average volume of 2,938,914. DENTSPLY SIRONA Inc. has a 12 month low of $12.16 and a 12 month 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 stock has a market capitalization of $3.30 billion, a PE ratio of -3.64, a PEG ratio of 1.19 and a beta of 0.94. The company has a 50 day moving average of $15.70 and a two-hundred day moving average of $16.47.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $879.00 million for the quarter, compared to the consensus estimate of $854.75 million. During the same period last year, the firm posted $0.42 EPS. The company's revenue for the quarter was down 7.8% on a year-over-year basis. As a group, equities analysts expect that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current year.

DENTSPLY SIRONA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.87%. DENTSPLY SIRONA's dividend payout ratio (DPR) is presently -14.10%.

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.