Jennison Associates LLC Purchases New Stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Jennison Associates LLC purchased a new stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 582,764 shares of the medical instruments supplier’s stock, valued at approximately $20,741,000.

Several other hedge funds have also added to or reduced their stakes in XRAY. VisionPoint Advisory Group LLC boosted its holdings in DENTSPLY SIRONA by 104.2% in the third quarter. VisionPoint Advisory Group LLC now owns 774 shares of the medical instruments supplier’s stock valued at $26,000 after acquiring an additional 395 shares during the last quarter. Anchor Investment Management LLC acquired a new position in DENTSPLY SIRONA in the fourth quarter valued at about $47,000. Exchange Traded Concepts LLC lifted its stake in DENTSPLY SIRONA by 41.2% in the third quarter. Exchange Traded Concepts LLC now owns 1,504 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 439 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in DENTSPLY SIRONA in the fourth quarter valued at about $71,000. Finally, CWM LLC lifted its stake in DENTSPLY SIRONA by 85.5% in the third quarter. CWM LLC now owns 4,379 shares of the medical instruments supplier’s stock valued at $150,000 after buying an additional 2,018 shares during the period. Institutional investors own 95.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on XRAY shares. StockNews.com raised DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. SVB Leerink began coverage on DENTSPLY SIRONA in a research note on Monday, February 26th. They issued an “outperform” rating and a $42.00 target price on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of DENTSPLY SIRONA in a research report on Monday, February 26th. Piper Sandler raised their price target on DENTSPLY SIRONA from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $41.00 price target on shares of DENTSPLY SIRONA in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

DENTSPLY SIRONA Price Performance

NASDAQ XRAY opened at $30.35 on Friday. The firm’s 50 day moving average is $32.66 and its 200-day moving average is $32.80. The company has a quick ratio of 0.95, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $6.29 billion, a PE ratio of -48.95, a price-to-earnings-growth ratio of 1.25 and a beta of 0.98. DENTSPLY SIRONA Inc. has a 12-month low of $26.27 and a 12-month high of $43.24.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its quarterly earnings results on Thursday, February 29th. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. DENTSPLY SIRONA had a negative net margin of 3.33% and a positive return on equity of 11.14%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $972.61 million. During the same period in the previous year, the business earned $0.46 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that DENTSPLY SIRONA Inc. will post 2.05 earnings per share for the current fiscal year.

DENTSPLY SIRONA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from DENTSPLY SIRONA’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 2.11%. DENTSPLY SIRONA’s dividend payout ratio is -103.22%.

DENTSPLY SIRONA Profile

DENTSPLY SIRONA Inc manufactures and sells various dental products and technologies worldwide. It operates in four segments: Connected Technology Solutions, Essential Dental Solutions, Orthodontic and Implant Solutions, and Wellspect Healthcare. The company offers dental equipment comprising imaging equipment, motorized dental handpieces, treatment centers, other instruments, amalgamators, mixing machines, and porcelain furnaces; and dental CAD/CAM technologies to support dental restorations, such as intraoral scanners, 3-D printers, mills, other software and services, and a full-chairside economical restoration of esthetic ceramic dentistry, as well as DS Core, its cloud-based platform.