abrdn plc Sells 116,022 Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Posted by Defense World Staff on May 25th, 2023

abrdn plc reduced its position in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY – Get Rating) by 67.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,587 shares of the medical instruments supplier’s stock after selling 116,022 shares during the period. abrdn plc’s holdings in DENTSPLY SIRONA were worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of DENTSPLY SIRONA by 1.2% during the third quarter. Vanguard Group Inc. now owns 24,732,513 shares of the medical instruments supplier’s stock worth $701,167,000 after purchasing an additional 297,487 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of DENTSPLY SIRONA by 3.7% during the third quarter. Artisan Partners Limited Partnership now owns 13,229,926 shares of the medical instruments supplier’s stock worth $375,068,000 after purchasing an additional 471,200 shares during the last quarter. Nuance Investments LLC lifted its stake in shares of DENTSPLY SIRONA by 0.7% in the fourth quarter. Nuance Investments LLC now owns 12,642,319 shares of the medical instruments supplier’s stock worth $402,531,000 after acquiring an additional 92,591 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of DENTSPLY SIRONA by 3.3% in the fourth quarter. First Eagle Investment Management LLC now owns 9,744,258 shares of the medical instruments supplier’s stock worth $310,257,000 after acquiring an additional 311,585 shares during the period. Finally, Cooke & Bieler LP lifted its stake in shares of DENTSPLY SIRONA by 27.1% in the fourth quarter. Cooke & Bieler LP now owns 5,866,388 shares of the medical instruments supplier’s stock worth $186,786,000 after acquiring an additional 1,249,656 shares during the period. 98.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on XRAY shares. Piper Sandler lifted their price objective on DENTSPLY SIRONA from $29.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. UBS Group lifted their price objective on DENTSPLY SIRONA from $43.00 to $46.00 in a research note on Friday, May 5th. Stifel Nicolaus lifted their price objective on DENTSPLY SIRONA from $37.00 to $41.00 in a research note on Thursday, May 4th. Morgan Stanley lifted their price objective on DENTSPLY SIRONA from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 19th. Finally, Barrington Research lifted their price objective on DENTSPLY SIRONA from $43.00 to $51.00 in a research note on Thursday, May 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.13.

DENTSPLY SIRONA Price Performance

Shares of NASDAQ:XRAY opened at $37.13 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.41 and a debt-to-equity ratio of 0.51. DENTSPLY SIRONA Inc. has a twelve month low of $26.48 and a twelve month high of $43.24. The stock’s 50 day moving average is $39.79 and its 200-day moving average is $36.02. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 2.18 and a beta of 0.91.

DENTSPLY SIRONA (NASDAQ:XRAY – Get Rating) last issued its earnings results on Wednesday, May 3rd. The medical instruments supplier reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. DENTSPLY SIRONA had a positive return on equity of 8.65% and a negative net margin of 26.41%. The company had revenue of $978.00 million for the quarter, compared to analyst estimates of $938.16 million. During the same period in the prior year, the firm earned $0.52 earnings per share. DENTSPLY SIRONA’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts forecast that DENTSPLY SIRONA Inc. will post 1.91 EPS for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were issued a dividend of $0.125 per share. The ex-dividend date was Thursday, March 30th. This represents a $0.50 annualized dividend and a yield of 1.35%.

Insider Buying and Selling

In related news, 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 completion of the sale, the senior vice president now owns 97,693 shares in the company, valued at $3,842,265.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, 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 completion of the sale, the senior vice president now owns 97,693 shares in the company, valued at $3,842,265.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric Brandt sold 6,200 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $42.17, for a total value of $261,454.00. Following the sale, the director now owns 44,902 shares of the company’s stock, valued at approximately $1,893,517.34. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

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.