Envestnet Asset Management Inc. Buys 40,936 Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Envestnet Asset Management Inc. grew its holdings in DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 494,737 shares of the medical instruments supplier's stock after acquiring an additional 40,936 shares during the quarter. Envestnet Asset Management Inc. owned 0.25% of DENTSPLY SIRONA worth $7,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of XRAY. Nuance Investments LLC raised its stake in shares of DENTSPLY SIRONA by 25.0% in the fourth quarter. Nuance Investments LLC now owns 13,545,981 shares of the medical instruments supplier's stock valued at $257,103,000 after purchasing an additional 2,708,097 shares in the last quarter. Norges Bank acquired a new position in shares of DENTSPLY SIRONA in the fourth quarter valued at $45,730,000. AQR Capital Management LLC raised its stake in shares of DENTSPLY SIRONA by 245.1% in the fourth quarter. AQR Capital Management LLC now owns 2,893,023 shares of the medical instruments supplier's stock valued at $54,389,000 after purchasing an additional 2,054,767 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of DENTSPLY SIRONA by 18.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,549,242 shares of the medical instruments supplier's stock valued at $238,186,000 after purchasing an additional 1,975,404 shares in the last quarter. Finally, Invenomic Capital Management LP raised its stake in shares of DENTSPLY SIRONA by 201.0% in the fourth quarter. Invenomic Capital Management LP now owns 2,639,161 shares of the medical instruments supplier's stock valued at $50,091,000 after purchasing an additional 1,762,428 shares in the last quarter. 95.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler cut their target price on DENTSPLY SIRONA from $20.00 to $16.00 and set a "neutral" rating for the company 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. Morgan Stanley lowered DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 target price for the company. in a research note on Tuesday, April 15th. UBS Group cut their target price on DENTSPLY SIRONA from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Barrington Research reiterated an "outperform" rating and set a $21.00 price objective on shares of DENTSPLY SIRONA in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, DENTSPLY SIRONA has a consensus rating of "Hold" and an average target price of $19.60.

DENTSPLY SIRONA Price Performance

Shares of NASDAQ:XRAY traded down $0.39 during midday trading on Thursday, reaching $16.46. The company's stock had a trading volume of 2,077,435 shares, compared to its average volume of 2,840,436. DENTSPLY SIRONA Inc. has a fifty-two week low of $12.16 and a fifty-two week high of $27.95. The company has a market capitalization of $3.28 billion, a P/E ratio of -3.63, a P/E/G ratio of 1.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.10 and a quick ratio of 0.76. The business's fifty day simple moving average is $16.05 and its 200-day simple moving average is $16.24.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last announced its earnings results on Thursday, May 8th. The medical instruments supplier reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.14. DENTSPLY SIRONA had a positive return on equity of 14.31% and a negative net margin of 24.42%. The company had revenue of $879.00 million during the quarter, compared to analyst estimates of $854.75 million. During the same period last year, the company posted $0.42 earnings per share. The firm's quarterly revenue was down 7.8% compared to the same quarter last year. As a group, equities research analysts expect that DENTSPLY SIRONA Inc. will post 1.84 EPS for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.89%. The ex-dividend date was Friday, June 27th. DENTSPLY SIRONA's dividend payout ratio is -14.10%.

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.