Mackenzie Financial Corp Sells 105,810 Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Key Points

• Mackenzie Financial Corp significantly reduced its stake in DENTSPLY SIRONA Inc. by 88%, holding only 14,396 shares valued at $215,000.
• A number of investment firms have lowered their price targets for DENTSPLY SIRONA, with Wells Fargo reducing its target from $16.00 to $15.00 and Morgan Stanley from "overweight" to "equal weight."
• DENTSPLY SIRONA is set to pay a quarterly dividend of $0.16 on October 10th, representing an annualized yield of 4.9%.

Mackenzie Financial Corp cut its stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 88.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,396 shares of the medical instruments supplier's stock after selling 105,810 shares during the period. Mackenzie Financial Corp's holdings in DENTSPLY SIRONA were worth $215,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Colonial Trust Co SC bought a new position in shares of DENTSPLY SIRONA during the 4th quarter worth about $26,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of DENTSPLY SIRONA during the 1st quarter worth about $25,000. True Wealth Design LLC lifted its holdings in shares of DENTSPLY SIRONA by 866.7% during the 4th quarter. True Wealth Design LLC now owns 2,175 shares of the medical instruments supplier's stock worth $41,000 after acquiring an additional 1,950 shares during the period. Quarry LP lifted its holdings in shares of DENTSPLY SIRONA by 25.7% during the 4th quarter. Quarry LP now owns 3,816 shares of the medical instruments supplier's stock worth $72,000 after acquiring an additional 780 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of DENTSPLY SIRONA by 175.8% during the 1st quarter. Allworth Financial LP now owns 3,949 shares of the medical instruments supplier's stock worth $54,000 after acquiring an additional 2,517 shares during the period. 95.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group reduced their price objective on shares of DENTSPLY SIRONA from $25.00 to $24.00 and set a "buy" rating for the company in a report on Friday, August 8th. Barrington Research set a $18.00 target price on shares of DENTSPLY SIRONA and gave the stock an "outperform" rating in a research report on Friday, August 8th. Stifel Nicolaus dropped their target price on shares of DENTSPLY SIRONA from $19.00 to $17.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Wells Fargo & Company dropped their target price on shares of DENTSPLY SIRONA from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Finally, Piper Sandler dropped their target price on shares of DENTSPLY SIRONA from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $18.64.

DENTSPLY SIRONA Stock Performance

Shares of NASDAQ:XRAY traded up $0.80 on Wednesday, hitting $13.85. The company had a trading volume of 4,951,424 shares, compared to its average volume of 3,001,851. DENTSPLY SIRONA Inc. has a 1-year low of $12.16 and a 1-year high of $27.48. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -2.92, a P/E/G ratio of 0.78 and a beta of 0.94. The stock has a 50 day moving average price of $15.59 and a 200 day moving average price of $15.81. 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 (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, beating analysts' consensus estimates of $0.50 by $0.02. The company had revenue of $936.00 million during the quarter, compared to analysts' expectations of $929.67 million. DENTSPLY SIRONA had a negative net margin of 25.85% and a positive return on equity of 16.33%. DENTSPLY SIRONA's quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. Analysts expect that DENTSPLY SIRONA Inc. will post 1.84 EPS for the current year.

DENTSPLY SIRONA Dividend Announcement

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