Bank of Nova Scotia Sells 1,145,271 Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Posted by Defense World Staff on May 22nd, 2023

Bank of Nova Scotia lowered its holdings in DENTSPLY SIRONA Inc. (NASDAQ:XRAY – Get Rating) by 95.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,695 shares of the medical instruments supplier’s stock after selling 1,145,271 shares during the quarter. Bank of Nova Scotia’s holdings in DENTSPLY SIRONA were worth $1,646,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Parkside Financial Bank & Trust grew its position in shares of DENTSPLY SIRONA by 163.7% in the 1st quarter. Parkside Financial Bank & Trust now owns 915 shares of the medical instruments supplier’s stock worth $46,000 after buying an additional 568 shares during the last quarter. SRS Capital Advisors Inc. purchased a new position in shares of DENTSPLY SIRONA in the 3rd quarter worth approximately $28,000. Ellevest Inc. grew its position in shares of DENTSPLY SIRONA by 281.2% in the 3rd quarter. Ellevest Inc. now owns 1,216 shares of the medical instruments supplier’s stock worth $34,000 after buying an additional 897 shares during the last quarter. Eisler Capital UK Ltd. purchased a new position in shares of DENTSPLY SIRONA in the 3rd quarter worth approximately $45,000. Finally, Signaturefd LLC grew its position in shares of DENTSPLY SIRONA by 20.8% in the 4th quarter. Signaturefd LLC now owns 1,973 shares of the medical instruments supplier’s stock worth $63,000 after buying an additional 340 shares during the last quarter. Institutional investors own 98.52% of the company’s stock.

DENTSPLY SIRONA Stock Performance

Shares of NASDAQ XRAY opened at $40.19 on Monday. The company has a current ratio of 1.41, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. DENTSPLY SIRONA Inc. has a 12 month low of $26.48 and a 12 month high of $43.24. The company has a 50 day simple moving average of $39.76 and a two-hundred day simple moving average of $35.85. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 2.30 and a beta of 0.91.

DENTSPLY SIRONA (NASDAQ:XRAY – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The medical instruments supplier reported $0.39 EPS for the quarter, beating the consensus estimate of $0.34 by $0.05. DENTSPLY SIRONA had a negative net margin of 26.41% and a positive return on equity of 8.65%. The business had revenue of $978.00 million during the quarter, compared to analysts’ expectations of $938.16 million. During the same period in the previous year, the business posted $0.52 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts predict that DENTSPLY SIRONA Inc. will post 1.91 earnings per share for the current year.

DENTSPLY SIRONA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, March 30th.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on XRAY. Piper Sandler lifted their price objective on shares of DENTSPLY SIRONA from $29.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. TheStreet raised shares of DENTSPLY SIRONA from a “d+” rating to a “c” rating in a research report on Tuesday, February 28th. UBS Group boosted their target price on shares of DENTSPLY SIRONA from $43.00 to $46.00 in a research report on Friday, May 5th. The Goldman Sachs Group boosted their target price on shares of DENTSPLY SIRONA from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 1st. Finally, Barrington Research boosted their target price on shares of DENTSPLY SIRONA from $43.00 to $51.00 in a research report on Thursday, May 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.13.

Insider Activity at DENTSPLY SIRONA

In related news, Director Eric Brandt sold 6,200 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $42.17, for a total value of $261,454.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at approximately $1,893,517.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other DENTSPLY SIRONA news, Director Eric Brandt sold 6,200 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $42.17, for a total transaction of $261,454.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at $1,893,517.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cord Friedrich Staehler sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $39.33, for a total transaction of $157,320.00. Following the transaction, the senior vice president now owns 97,693 shares of the company’s stock, valued at $3,842,265.69. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

DENTSPLY SIRONA Profile

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Dentsply Sirona, Inc engages in the design, manufacture, sales and distribution of professional dental products and technologies. It operates through the following segments: Technologies and Equipment and Consumables. The Technologies and Equipment segments comprises dental technology, equipment and healthcare consumable products such as dental implants, laboratory dental products, computer-aided design and computer-aided manufacturing systems, imaging systems, treatment centers and consumable medical device products.