VELA Investment Management LLC Sells 32,468 Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

VELA Investment Management LLC lowered its position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 66.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,633 shares of the medical instruments supplier's stock after selling 32,468 shares during the period. VELA Investment Management LLC's holdings in DENTSPLY SIRONA were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in DENTSPLY SIRONA by 27.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,403,110 shares of the medical instruments supplier's stock valued at $45,611,000 after purchasing an additional 523,692 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in DENTSPLY SIRONA during the fourth quarter worth approximately $422,000. SRS Capital Advisors Inc. raised its position in DENTSPLY SIRONA by 4,699.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,607 shares of the medical instruments supplier's stock valued at $87,000 after purchasing an additional 4,511 shares during the period. Charles Schwab Investment Management Inc. grew its position in DENTSPLY SIRONA by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,101,133 shares of the medical instruments supplier's stock valued at $39,880,000 after acquiring an additional 35,360 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in DENTSPLY SIRONA during the 4th quarter worth $10,335,000. Institutional investors and hedge funds own 95.70% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on XRAY shares. Morgan Stanley lowered 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. Barrington Research increased their price target on DENTSPLY SIRONA from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. 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. Mizuho dropped their target price on shares of DENTSPLY SIRONA from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Finally, Needham & Company LLC restated a "hold" rating on shares of DENTSPLY SIRONA in a report on Thursday, March 13th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's 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 Up 3.7%

Shares of NASDAQ:XRAY traded up $0.59 during midday trading on Tuesday, hitting $16.53. The stock had a trading volume of 2,387,722 shares, compared to its average volume of 2,938,497. The business's 50-day simple moving average is $15.79 and its 200-day simple moving average is $16.43. DENTSPLY SIRONA Inc. has a 12 month low of $12.16 and a 12 month high of $27.95. The company has a market cap of $3.29 billion, a P/E ratio of -3.64, a PEG ratio of 1.14 and a beta of 0.94. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.79.

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

DENTSPLY SIRONA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.16 per share. 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 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.