Invenomic Capital Management LP Lowers Position in DENTSPLY SIRONA Inc. $XRAY

Key Points

• Invenomic Capital Management LP reduced its holdings in DENTSPLY SIRONA by 6.1%, leaving them with approximately 2.48 million shares, which is about 1.9% of its total portfolio.
• After recent changes, institutional investors now own 95.70% of DENTSPLY SIRONA, with notable increases from firms like AQR Capital Management and D. E. Shaw & Co.
• DENTSPLY SIRONA's recent earnings report showed a slight revenue decrease year-over-year, but earnings per share exceeded analyst expectations at $0.52 compared to the anticipated $0.50.

Invenomic Capital Management LP reduced its position in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,476,906 shares of the medical instruments supplier's stock after selling 162,255 shares during the period. DENTSPLY SIRONA makes up about 1.9% of Invenomic Capital Management LP's investment portfolio, making the stock its 10th largest position. Invenomic Capital Management LP owned approximately 1.24% of DENTSPLY SIRONA worth $37,005,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XRAY. Northern Trust Corp raised its position in DENTSPLY SIRONA by 14.9% in the fourth quarter. Northern Trust Corp now owns 2,082,391 shares of the medical instruments supplier's stock worth $39,524,000 after acquiring an additional 269,502 shares in the last quarter. Jane Street Group LLC raised its position in DENTSPLY SIRONA by 1,080.5% in the fourth quarter. Jane Street Group LLC now owns 373,423 shares of the medical instruments supplier's stock worth $7,088,000 after acquiring an additional 341,790 shares in the last quarter. Algert Global LLC purchased a new position in DENTSPLY SIRONA in the 4th quarter worth about $753,000. Ameriprise Financial Inc. increased its stake in DENTSPLY SIRONA by 10.2% in the 4th quarter. Ameriprise Financial Inc. now owns 249,246 shares of the medical instruments supplier's stock worth $4,735,000 after purchasing an additional 23,053 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in DENTSPLY SIRONA in the 4th quarter worth about $576,000. 95.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on XRAY shares. Wall Street Zen cut DENTSPLY SIRONA from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Wells Fargo & Company dropped their price target on DENTSPLY SIRONA from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Needham & Company LLC reissued a "hold" rating on shares of DENTSPLY SIRONA in a research note on Monday, July 21st. Barrington Research dropped their price target on DENTSPLY SIRONA from $21.00 to $18.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Stifel Nicolaus lowered 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, August 8th. Two analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $18.64.

DENTSPLY SIRONA Stock Performance

Shares of XRAY stock traded down $0.30 during trading hours on Tuesday, reaching $13.91. 3,156,356 shares of the company's stock were exchanged, compared to its average volume of 2,985,696. DENTSPLY SIRONA Inc. has a fifty-two week low of $12.16 and a fifty-two week high of $27.48. The stock has a market capitalization of $2.77 billion, a P/E ratio of -2.93, a P/E/G ratio of 0.91 and a beta of 0.96. The business has a fifty day moving average price of $14.96 and a 200-day moving average price of $15.13. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 1.13.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The business had revenue of $936.00 million for the quarter, compared to analysts' expectations of $929.67 million. DENTSPLY SIRONA had a positive return on equity of 16.33% and a negative net margin of 25.85%.DENTSPLY SIRONA's quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. DENTSPLY SIRONA has set its FY 2025 guidance at 1.800-2.000 EPS. Analysts predict that DENTSPLY SIRONA Inc. will post 1.84 EPS for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, September 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.6%. DENTSPLY SIRONA's payout ratio is currently -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.