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, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 582,764 shares of the medical instruments supplier’s stock, valued at approximately $20,741,000. Jennison Associates LLC owned 0.28% of DENTSPLY SIRONA as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. VisionPoint Advisory Group LLC raised its stake 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 valued at $26,000 after purchasing an additional 395 shares during the period. Anchor Investment Management LLC purchased a new stake in shares of DENTSPLY SIRONA during the fourth quarter valued at approximately $47,000. Exchange Traded Concepts LLC raised its stake in shares of DENTSPLY SIRONA by 41.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,504 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 439 shares during the period. Creative Financial Designs Inc. ADV acquired a new stake in shares of DENTSPLY SIRONA during the fourth quarter worth approximately $71,000. Finally, CWM LLC grew its position in shares of DENTSPLY SIRONA by 85.5% during the third quarter. CWM LLC now owns 4,379 shares of the medical instruments supplier’s stock worth $150,000 after buying an additional 2,018 shares in the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.

DENTSPLY SIRONA Price Performance

Shares of NASDAQ XRAY opened at $30.35 on Friday. DENTSPLY SIRONA Inc. has a fifty-two week low of $26.27 and a fifty-two week high of $43.24. The firm’s 50-day simple moving average is $32.66 and its 200 day simple 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 stock has a market cap of $6.29 billion, a P/E ratio of -48.95, a P/E/G ratio of 1.25 and a beta of 0.98.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its quarterly earnings data on Thursday, February 29th. The medical instruments supplier reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $972.61 million. During the same period in the previous year, the business earned $0.46 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Equities analysts expect that DENTSPLY SIRONA Inc. will post 2.05 EPS for the current year.

DENTSPLY SIRONA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a $0.16 dividend. 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 payout ratio is -103.22%.

Analysts Set New Price Targets

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

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.