Dimensional Fund Advisors LP Raises Stake in DENTSPLY SIRONA Inc. $XRAY

Key Points

• Dimensional Fund Advisors increased its DENTSPLY SIRONA stake by 31.4% in the first quarter, bringing its holdings to 3.56 million shares worth approximately $41.3 million. Institutional investors collectively own 95.7% of the company.
• XRAY shares rose 5.7% and opened at $14.13, near the 52-week high of $14.86. The company reported quarterly revenue of $880 million, above estimates, but earnings per share of $0.27 narrowly missed expectations and declined from $0.43 a year earlier.
• Company insiders purchased 35,160 shares worth about $351,000 over the past 90 days. Analysts maintain a consensus “Hold” rating with an average price target of $13.46, reflecting mixed views ranging from “Sell” to “Buy.”

Dimensional Fund Advisors LP increased its position in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 31.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,559,388 shares of the medical instruments supplier's stock after acquiring an additional 850,261 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.78% of DENTSPLY SIRONA worth $41,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of XRAY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of DENTSPLY SIRONA during the 1st quarter worth approximately $26,000. Goldman Sachs Group Inc. grew its position in DENTSPLY SIRONA by 827.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,434,925 shares of the medical instruments supplier's stock worth $36,378,000 after acquiring an additional 2,172,343 shares during the period. Empowered Funds LLC grew its position in DENTSPLY SIRONA by 8.8% in the first quarter. Empowered Funds LLC now owns 16,324 shares of the medical instruments supplier's stock worth $244,000 after acquiring an additional 1,320 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in DENTSPLY SIRONA by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 593,021 shares of the medical instruments supplier's stock worth $8,860,000 after acquiring an additional 41,579 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in DENTSPLY SIRONA by 59.1% during the first quarter. Focus Partners Wealth now owns 25,181 shares of the medical instruments supplier's stock worth $376,000 after acquiring an additional 9,355 shares during the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

DENTSPLY SIRONA Stock Up 5.7%

Shares of XRAY opened at $14.13 on Tuesday. The company's 50-day simple moving average is $11.52 and its 200-day simple moving average is $11.86. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 1.53. DENTSPLY SIRONA Inc. has a 1 year low of $9.40 and a 1 year high of $14.86. The stock has a market capitalization of $2.83 billion, a PE ratio of -4.49, a P/E/G ratio of 1.59 and a beta of 0.85.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The medical instruments supplier reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). DENTSPLY SIRONA had a negative net margin of 17.06% and a positive return on equity of 18.83%. The business had revenue of $880.00 million during the quarter, compared to analyst estimates of $841.80 million. During the same quarter last year, the firm posted $0.43 EPS. The company's revenue for the quarter was up .1% on a year-over-year basis. Analysts forecast that DENTSPLY SIRONA Inc. will post 1.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Brian T. Gladden acquired 9,985 shares of the business's stock in a transaction dated Monday, June 15th. The shares were acquired at an average price of $10.02 per share, with a total value of $100,049.70. Following the completion of the transaction, the director owned 61,849 shares of the company's stock, valued at $619,726.98. The trade was a 19.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian P. Mckeon acquired 10,000 shares of DENTSPLY SIRONA stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $10.12 per share, for a total transaction of $101,200.00. Following the completion of the purchase, the director owned 10,000 shares of the company's stock, valued at approximately $101,200. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 35,160 shares of company stock worth $351,179 over the last 90 days. Corporate insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on XRAY. Citigroup initiated coverage on DENTSPLY SIRONA in a research note on Wednesday, April 15th. They issued a "sell" rating and a $10.00 price target on the stock. Barclays cut their price objective on DENTSPLY SIRONA from $12.00 to $9.00 and set an "underweight" rating for the company in a research report on Thursday, June 4th. UBS Group decreased their target price on shares of DENTSPLY SIRONA from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Mizuho lowered their target price on shares of DENTSPLY SIRONA from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, May 6th. Finally, Piper Sandler boosted their price target on shares of DENTSPLY SIRONA from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, DENTSPLY SIRONA has an average rating of "Hold" and a consensus target price of $13.46.

About DENTSPLY SIRONA

Dentsply Sirona Inc NASDAQ: XRAY is a leading global manufacturer of professional dental products and technologies. The company, formed through the merger of Dentsply International and Sirona Dental Systems in February 2016, brings together a long heritage of innovation in dental care. Headquartered in Charlotte, North Carolina, Dentsply Sirona develops and markets a comprehensive range of dental consumables, laboratory products, and advanced imaging and CAD/CAM systems.

The company's product portfolio spans preventive, restorative, orthodontic, endodontic and surgical care.

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