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 lessened its holdings in DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 88.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,396 shares of the medical instruments supplier's stock after selling 105,810 shares during the quarter. Mackenzie Financial Corp's holdings in DENTSPLY SIRONA were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. LPL Financial LLC grew its holdings in DENTSPLY SIRONA by 52.2% during the fourth quarter. LPL Financial LLC now owns 115,108 shares of the medical instruments supplier's stock valued at $2,185,000 after purchasing an additional 39,498 shares during the period. Geode Capital Management LLC grew its holdings in shares of DENTSPLY SIRONA by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,612,370 shares of the medical instruments supplier's stock valued at $68,584,000 after buying an additional 64,542 shares during the period. Envestnet Asset Management Inc. increased its position in shares of DENTSPLY SIRONA by 18.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 453,801 shares of the medical instruments supplier's stock valued at $8,613,000 after buying an additional 71,213 shares in the last quarter. Federated Hermes Inc. raised its stake in DENTSPLY SIRONA by 0.5% during the 4th quarter. Federated Hermes Inc. now owns 169,304 shares of the medical instruments supplier's stock worth $3,213,000 after buying an additional 915 shares during the period. Finally, Cerity Partners LLC lifted its holdings in DENTSPLY SIRONA by 268.5% during the fourth quarter. Cerity Partners LLC now owns 65,588 shares of the medical instruments supplier's stock worth $1,294,000 after acquiring an additional 47,788 shares in the last quarter. Institutional investors and hedge funds own 95.70% of the company's stock.

DENTSPLY SIRONA Stock Down 0.4%

NASDAQ XRAY traded down $0.06 during trading hours on Thursday, hitting $13.80. 1,818,041 shares of the company traded hands, compared to its average volume of 3,001,229. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -2.91, a P/E/G ratio of 0.81 and a beta of 0.94. DENTSPLY SIRONA Inc. has a twelve month low of $12.16 and a twelve month high of $27.48. The business's 50-day moving average is $15.54 and its 200-day moving average is $15.79. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.11 and a current ratio of 1.69.

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 for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $936.00 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. Sell-side analysts anticipate that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current year.

DENTSPLY SIRONA Announces Dividend

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 paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, September 26th. DENTSPLY SIRONA's payout ratio is currently -13.50%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on XRAY. UBS Group dropped their price target on DENTSPLY SIRONA from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company cut their price target on shares of 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. Barrington Research set a $18.00 price objective on shares of DENTSPLY SIRONA and gave the stock an "outperform" rating in a research report on Friday, August 8th. Stifel Nicolaus cut their price objective 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DENTSPLY SIRONA in a report on Monday, July 21st. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $18.64.

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.