DENTSPLY SIRONA Inc. $XRAY Shares Sold by Canvas Wealth Advisors LLC

Key Points

• Canvas Wealth Advisors LLC significantly reduced its stake in DENTSPLY SIRONA Inc. by 94.2%, selling over 250,000 shares during the second quarter.
• Analysts have lowered their price targets for DENTSPLY SIRONA, with estimates ranging from $13.00 to $18.00, reflecting a general "hold" sentiment across the market.
• DENTSPLY SIRONA recently declared a quarterly dividend of $0.16 per share, resulting in an annualized yield of 4.9%.

Canvas Wealth Advisors LLC trimmed its position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 94.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,649 shares of the medical instruments supplier's stock after selling 252,388 shares during the period. Canvas Wealth Advisors LLC's holdings in DENTSPLY SIRONA were worth $251,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of XRAY. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of DENTSPLY SIRONA in the first quarter valued at about $25,000. Brooklyn Investment Group purchased a new stake in DENTSPLY SIRONA in the 1st quarter valued at approximately $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in DENTSPLY SIRONA during the 1st quarter worth approximately $26,000. Trust Co. of Toledo NA OH acquired a new position in DENTSPLY SIRONA during the 2nd quarter worth approximately $27,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of DENTSPLY SIRONA by 8,003.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,269 shares of the medical instruments supplier's stock worth $34,000 after buying an additional 2,241 shares in the last quarter. Hedge funds and other institutional investors own 95.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of DENTSPLY SIRONA in a research note on Friday, September 26th. Stifel Nicolaus decreased their target price on shares of DENTSPLY SIRONA from $19.00 to $17.00 and set a "hold" rating on the stock in a research report on Friday, August 8th. Evercore ISI lowered their price target on shares of DENTSPLY SIRONA from $17.00 to $13.00 and set an "in-line" rating on the stock in a research note on Wednesday, October 8th. Barrington Research reduced their price objective on shares of DENTSPLY SIRONA from $21.00 to $18.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded shares of DENTSPLY SIRONA from a "buy" rating to a "hold" rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $18.00.

DENTSPLY SIRONA Price Performance

DENTSPLY SIRONA stock opened at $12.93 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 1.13. The firm's 50-day simple moving average is $13.39 and its 200 day simple moving average is $14.52. DENTSPLY SIRONA Inc. has a 52 week low of $11.69 and a 52 week high of $24.86. The firm has a market capitalization of $2.58 billion, a PE ratio of -2.73, a P/E/G ratio of 0.78 and a beta of 0.96.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last announced 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 negative net margin of 25.85% and a positive return on equity of 16.33%. The company had revenue of $936.00 million during the quarter, compared to analysts' expectations of $929.67 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. The firm's quarterly revenue was down 4.9% compared to the same quarter last year. DENTSPLY SIRONA has set its FY 2025 guidance at 1.800-2.000 EPS. On average, equities research analysts predict that DENTSPLY SIRONA Inc. will post 1.84 EPS for the current fiscal year.

DENTSPLY SIRONA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.64 annualized dividend and a yield of 4.9%. DENTSPLY SIRONA's dividend payout ratio (DPR) is presently -13.50%.

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.

Want to see what other hedge funds are holding XRAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.