First Horizon Advisors Inc. Reduces Stock Position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

First Horizon Advisors Inc. cut its stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY – Get Rating) by 43.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 864 shares of the medical instruments supplier’s stock after selling 677 shares during the period. First Horizon Advisors Inc.’s holdings in DENTSPLY SIRONA were worth $47,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of DENTSPLY SIRONA by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,061,180 shares of the medical instruments supplier’s stock worth $235,146,000 after purchasing an additional 109,108 shares in the last quarter. Invesco Ltd. raised its position in shares of DENTSPLY SIRONA by 12.9% during the 3rd quarter. Invesco Ltd. now owns 3,969,998 shares of the medical instruments supplier’s stock worth $230,459,000 after purchasing an additional 454,358 shares during the last quarter. Gabelli Funds LLC raised its position in shares of DENTSPLY SIRONA by 118.8% during the 3rd quarter. Gabelli Funds LLC now owns 151,000 shares of the medical instruments supplier’s stock worth $8,766,000 after purchasing an additional 82,000 shares during the last quarter. Ensign Peak Advisors Inc raised its position in shares of DENTSPLY SIRONA by 27.8% during the 3rd quarter. Ensign Peak Advisors Inc now owns 45,684 shares of the medical instruments supplier’s stock worth $2,652,000 after purchasing an additional 9,934 shares during the last quarter. Finally, Westpac Banking Corp raised its position in shares of DENTSPLY SIRONA by 4.5% during the 4th quarter. Westpac Banking Corp now owns 23,388 shares of the medical instruments supplier’s stock worth $1,305,000 after purchasing an additional 999 shares during the last quarter. 94.79% of the stock is owned by institutional investors.

Shares of NASDAQ XRAY opened at $38.23 on Friday. DENTSPLY SIRONA Inc. has a 52-week low of $35.00 and a 52-week high of $69.07. The firm has a fifty day moving average of $45.95 and a 200-day moving average of $51.34. The stock has a market capitalization of $8.24 billion, a PE ratio of 22.40, a P/E/G ratio of 2.37 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 0.38.

DENTSPLY SIRONA (NASDAQ:XRAY – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.04). DENTSPLY SIRONA had a net margin of 8.81% and a return on equity of 11.63%. The company had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $982.05 million. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 841.1% on a year-over-year basis. Equities research analysts expect that DENTSPLY SIRONA Inc. will post 2.43 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Friday, March 25th were paid a dividend of $0.125 per share. The ex-dividend date was Thursday, March 24th. This is a boost from DENTSPLY SIRONA’s previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a dividend yield of 1.31%. DENTSPLY SIRONA’s payout ratio is currently 29.59%.

Several brokerages recently issued reports on XRAY. HC Wainwright cut their price objective on DENTSPLY SIRONA from $58.00 to $48.00 and set a “hold” rating for the company in a research report on Friday, April 22nd. Bank of America downgraded DENTSPLY SIRONA from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $66.00 to $49.00 in a research report on Tuesday, April 19th. The Goldman Sachs Group lowered their target price on shares of DENTSPLY SIRONA from $59.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, April 21st. Barrington Research lowered their target price on shares of DENTSPLY SIRONA from $53.00 to $51.00 in a research note on Wednesday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $46.00 target price (down from $71.00) on shares of DENTSPLY SIRONA in a research note on Wednesday, April 20th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, DENTSPLY SIRONA presently has an average rating of “Hold” and an average price target of $52.89.

In related news, Director Eric Brandt sold 6,900 shares of DENTSPLY SIRONA stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $39.71, for a total transaction of $273,999.00. Following the transaction, the director now owns 35,155 shares in the company, valued at approximately $1,396,005.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.69% of the stock is owned by insiders.

DENTSPLY SIRONA Company Profile (Get Rating)

DENTSPLY SIRONA Inc designs, develops, manufactures, distributes, and sells various dental products and technologies for professional dental market worldwide. It offers dental equipment, including treatment centers, imaging equipment, motorized dental handpieces, and other instruments; imaging equipment; treatment centers comprising basic dentist chairs, sophisticated chair-based units with integrated diagnostic, hygiene and ergonomic functionalities, and specialist centers; and lab equipment, such as amalgamators, mixing machines, and porcelain furnaces.

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