Bank of Nova Scotia Increases Stock Holdings in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Key Points

• Bank of Nova Scotia significantly increased its stake in DENTSPLY SIRONA Inc. by 347.5%, owning 84,254 shares valued at approximately $1.26 million.
• Several analysts have issued differing ratings on the stock, with a consensus rating of "Hold" and an average price target of $19.60.
• DENTSPLY SIRONA recently reported a quarterly earnings per share (EPS) of $0.52, surpassing analyst estimates, despite a 4.9% year-over-year decline in revenue.

Bank of Nova Scotia grew its holdings in DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 347.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,254 shares of the medical instruments supplier's stock after acquiring an additional 65,426 shares during the quarter. Bank of Nova Scotia's holdings in DENTSPLY SIRONA were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of XRAY. Envestnet Asset Management Inc. raised its stake in DENTSPLY SIRONA by 9.0% during 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 shares of DENTSPLY SIRONA during the 1st quarter valued at about $679,000. Comerica Bank lifted its holdings in shares of DENTSPLY SIRONA by 41.2% during the 4th 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% during the 4th 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% during the 1st 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. 95.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on XRAY. Piper Sandler cut their target price on 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 restated a "hold" rating on shares of DENTSPLY SIRONA in a research note on Monday, July 21st. Stifel Nicolaus cut their target price on DENTSPLY SIRONA from $19.00 to $17.00 and set a "hold" rating on the stock in a research note on Friday. Morgan Stanley lowered DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 price target on the stock. in a research report on Tuesday, April 15th. Finally, Barrington Research set a $18.00 price target on DENTSPLY SIRONA and gave the stock an "outperform" rating in a research report on Friday. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $18.64.

DENTSPLY SIRONA Trading Up 2.9%

XRAY stock traded up $0.37 during mid-day trading on Tuesday, reaching $12.90. The company's stock had a trading volume of 1,026,559 shares, compared to its average volume of 2,980,212. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 1.13. DENTSPLY SIRONA Inc. has a 12 month low of $12.16 and a 12 month high of $27.48. The business's 50 day moving average price is $15.64 and its 200 day moving average price is $15.82. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -2.72, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $0.52 EPS for the quarter, beating 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 firm had revenue of $936.00 million during the quarter, compared to analysts' expectations of $929.67 million. During the same quarter last year, the firm posted $0.49 earnings per share. The company's revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities research analysts predict that DENTSPLY SIRONA Inc. will post 1.84 EPS for the current year.

DENTSPLY SIRONA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.64 annualized dividend and a dividend yield of 5.0%. DENTSPLY SIRONA's payout ratio is presently -13.50%.

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.