Veritas Asset Management LLP Boosts Position in DENTSPLY SIRONA Inc (XRAY)

Veritas Asset Management LLP increased its holdings in shares of DENTSPLY SIRONA Inc (NASDAQ:XRAY) by 19.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,092,601 shares of the medical instruments supplier’s stock after purchasing an additional 1,674,946 shares during the quarter. DENTSPLY SIRONA accounts for 3.6% of Veritas Asset Management LLP’s holdings, making the stock its 15th biggest position. Veritas Asset Management LLP’s holdings in DENTSPLY SIRONA were worth $441,753,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Comerica Bank increased its stake in DENTSPLY SIRONA by 2.3% during the 2nd quarter. Comerica Bank now owns 61,333 shares of the medical instruments supplier’s stock worth $2,803,000 after purchasing an additional 1,400 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in DENTSPLY SIRONA by 5.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 709,140 shares of the medical instruments supplier’s stock worth $31,039,000 after purchasing an additional 38,183 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in DENTSPLY SIRONA during the 2nd quarter worth approximately $10,236,000. Piedmont Investment Advisors LLC bought a new stake in DENTSPLY SIRONA during the 2nd quarter worth approximately $117,000. Finally, S&CO Inc. increased its stake in DENTSPLY SIRONA by 37.1% during the 2nd quarter. S&CO Inc. now owns 49,702 shares of the medical instruments supplier’s stock worth $2,175,000 after purchasing an additional 13,445 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

In related news, Director Michael C. Alfano sold 1,404 shares of the business’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $45.83, for a total value of $64,345.32. Following the completion of the sale, the director now directly owns 13,458 shares of the company’s stock, valued at $616,780.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Donald M. Jr. Casey purchased 22,500 shares of DENTSPLY SIRONA stock in a transaction that occurred on Wednesday, May 9th. The stock was bought at an average cost of $44.52 per share, with a total value of $1,001,700.00. Following the completion of the transaction, the chief executive officer now owns 92,408 shares of the company’s stock, valued at $4,114,004.16. The disclosure for this purchase can be found here. Over the last three months, insiders sold 7,856 shares of company stock valued at $349,153. 1.93% of the stock is owned by corporate insiders.

XRAY has been the subject of a number of recent research reports. ValuEngine downgraded DENTSPLY SIRONA from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 8th. Morgan Stanley reduced their price target on DENTSPLY SIRONA from $65.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, June 14th. Barclays reaffirmed a “hold” rating and set a $55.00 price target on shares of DENTSPLY SIRONA in a research report on Tuesday, May 8th. BidaskClub raised DENTSPLY SIRONA from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 13th. Finally, Barrington Research reduced their price target on DENTSPLY SIRONA from $70.00 to $54.00 and set an “outperform” rating for the company in a research report on Tuesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. DENTSPLY SIRONA has an average rating of “Hold” and a consensus price target of $61.42.

Shares of DENTSPLY SIRONA traded down $0.94, hitting $47.17, during trading hours on Thursday, according to MarketBeat.com. The company had a trading volume of 2,663,513 shares, compared to its average volume of 1,971,308. The company has a market cap of $10.94 billion, a PE ratio of 17.73, a PEG ratio of 2.50 and a beta of 1.27. DENTSPLY SIRONA Inc has a 1-year low of $41.64 and a 1-year high of $68.98. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.25.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings data on Sunday, May 6th. The medical instruments supplier reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The business had revenue of $956.10 million during the quarter, compared to analysts’ expectations of $942.20 million. DENTSPLY SIRONA had a negative net margin of 38.32% and a positive return on equity of 8.63%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. sell-side analysts predict that DENTSPLY SIRONA Inc will post 2.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 28th will be given a $0.0875 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.35 dividend on an annualized basis and a yield of 0.74%. DENTSPLY SIRONA’s dividend payout ratio (DPR) is presently 13.16%.

DENTSPLY SIRONA Company Profile

DENTSPLY SIRONA Inc designs, develops, manufactures, and markets various dental and oral health products, and other consumable healthcare products primarily for the professional dental market worldwide. The company operates in two segments, Technologies & Equipment; and Consumables. Its dental supplies include endodontic instruments and materials, dental anesthetics, prophylaxis pastes, dental sealants, impression materials, restorative materials, tooth whiteners, and topical fluoride products; and small equipment products comprise dental hand pieces, intraoral curing light systems, dental diagnostic systems, and ultrasonic scalers and polishers.

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Institutional Ownership by Quarter for DENTSPLY SIRONA (NASDAQ:XRAY)

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