Cannon Global Investment Management LLC Purchases New Stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Cannon Global Investment Management LLC purchased a new stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,900 shares of the medical instruments supplier’s stock, valued at approximately $461,000. DENTSPLY SIRONA accounts for 1.2% of Cannon Global Investment Management LLC’s portfolio, making the stock its 27th largest position.

A number of other large investors have also added to or reduced their stakes in the business. Parkside Financial Bank & Trust raised its stake in DENTSPLY SIRONA by 33.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,169 shares of the medical instruments supplier’s stock valued at $42,000 after acquiring an additional 292 shares during the period. Beach Investment Counsel Inc. PA lifted its holdings in shares of DENTSPLY SIRONA by 1.4% during the fourth quarter. Beach Investment Counsel Inc. PA now owns 22,125 shares of the medical instruments supplier’s stock worth $787,000 after buying an additional 306 shares in the last quarter. Wahed Invest LLC lifted its holdings in shares of DENTSPLY SIRONA by 9.3% during the fourth quarter. Wahed Invest LLC now owns 3,603 shares of the medical instruments supplier’s stock worth $128,000 after buying an additional 306 shares in the last quarter. VisionPoint Advisory Group LLC lifted its holdings in shares of DENTSPLY SIRONA by 104.2% during the third quarter. VisionPoint Advisory Group LLC now owns 774 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 395 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of DENTSPLY SIRONA by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 92,842 shares of the medical instruments supplier’s stock worth $3,171,000 after buying an additional 470 shares in the last quarter. Institutional investors own 95.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on XRAY. Robert W. Baird dropped their target price on DENTSPLY SIRONA from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Evercore ISI dropped their target price on DENTSPLY SIRONA from $35.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday. Barrington Research dropped their target price on DENTSPLY SIRONA from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Piper Sandler reissued a “neutral” rating and set a $32.00 target price (down previously from $35.00) on shares of DENTSPLY SIRONA in a report on Friday, May 3rd. Finally, StockNews.com downgraded DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.44.

DENTSPLY SIRONA Price Performance

XRAY stock traded down $0.22 during midday trading on Friday, reaching $24.91. The company had a trading volume of 4,198,537 shares, compared to its average volume of 2,476,896. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of -56.61, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The stock has a 50 day moving average price of $27.72 and a 200-day moving average price of $31.72. DENTSPLY SIRONA Inc. has a 1-year low of $24.71 and a 1-year high of $41.65. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.43 and a quick ratio of 0.97.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $953.00 million during the quarter, compared to the consensus estimate of $969.45 million. DENTSPLY SIRONA had a positive return on equity of 11.54% and a negative net margin of 2.41%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Equities research analysts expect that DENTSPLY SIRONA Inc. will post 2.02 earnings per share for the current year.

DENTSPLY SIRONA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, June 28th. DENTSPLY SIRONA’s payout ratio is -145.45%.

Insiders Place Their Bets

In other DENTSPLY SIRONA news, Director Gregory T. Lucier bought 3,577 shares of the stock in a transaction on Friday, May 31st. The stock was purchased at an average price of $27.95 per share, with a total value of $99,977.15. Following the completion of the purchase, the director now owns 58,374 shares in the company, valued at $1,631,553.30. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.52% of the company’s stock.

DENTSPLY SIRONA Company 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.