Ninety One UK Ltd bought a new position in shares of DENTSPLY SIRONA Inc (NASDAQ:XRAY) in the second quarter, Holdings Channel.com reports. The institutional investor bought 1,955,419 shares of the medical instruments supplier’s stock, valued at approximately $86,156,000.
A number of other hedge funds also recently made changes to their positions in XRAY. Ninety One SA PTY Ltd purchased a new position in DENTSPLY SIRONA during the second quarter worth $29,000. Handelsbanken Fonder AB acquired a new stake in shares of DENTSPLY SIRONA during the second quarter worth $2,162,000. Ninety One North America Inc. acquired a new position in DENTSPLY SIRONA in the second quarter valued at $1,737,000. Sei Investments Co. boosted its holdings in DENTSPLY SIRONA by 35.8% in the second quarter. Sei Investments Co. now owns 291,015 shares of the medical instruments supplier’s stock valued at $12,826,000 after acquiring an additional 76,777 shares during the last quarter. Finally, Cigna Investments Inc. New boosted its holdings in DENTSPLY SIRONA by 12.7% in the second quarter. Cigna Investments Inc. New now owns 7,098 shares of the medical instruments supplier’s stock valued at $313,000 after acquiring an additional 798 shares during the last quarter. Institutional investors own 96.00% of the company’s stock.
A number of research analysts have commented on the company. BidaskClub upgraded DENTSPLY SIRONA from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America boosted their price objective on DENTSPLY SIRONA from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, July 20th. HC Wainwright lowered their target price on DENTSPLY SIRONA from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Zacks Investment Research raised DENTSPLY SIRONA from a “sell” rating to a “hold” rating and set a $47.00 target price for the company in a report on Monday, August 17th. Finally, Piper Sandler assumed coverage on DENTSPLY SIRONA in a research report on Tuesday, June 16th. They set an “overweight” rating and a $51.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $49.13.
DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.16). DENTSPLY SIRONA had a negative net margin of 1.40% and a positive return on equity of 7.13%. The company had revenue of $490.60 million for the quarter, compared to the consensus estimate of $492.55 million. During the same period last year, the company earned $0.66 earnings per share. DENTSPLY SIRONA’s revenue for the quarter was down 51.4% compared to the same quarter last year. As a group, analysts anticipate that DENTSPLY SIRONA Inc will post 1.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 24th. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. DENTSPLY SIRONA’s payout ratio is presently 16.33%.
About DENTSPLY SIRONA
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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