Skba Capital Management LLC Invests $10.09 Million in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Skba Capital Management LLC bought a new position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 531,590 shares of the medical instruments supplier's stock, valued at approximately $10,090,000. DENTSPLY SIRONA makes up 1.6% of Skba Capital Management LLC's portfolio, making the stock its 25th biggest holding. Skba Capital Management LLC owned approximately 0.27% of DENTSPLY SIRONA at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in XRAY. Nordea Investment Management AB increased its position in DENTSPLY SIRONA by 245.0% in the fourth quarter. Nordea Investment Management AB now owns 251,556 shares of the medical instruments supplier's stock worth $4,754,000 after buying an additional 178,639 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of DENTSPLY SIRONA by 206.3% in the third quarter. JPMorgan Chase & Co. now owns 1,847,389 shares of the medical instruments supplier's stock worth $49,990,000 after acquiring an additional 1,244,326 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of DENTSPLY SIRONA by 27.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,403,110 shares of the medical instruments supplier's stock worth $45,611,000 after acquiring an additional 523,692 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in DENTSPLY SIRONA by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,101,133 shares of the medical instruments supplier's stock worth $39,880,000 after purchasing an additional 35,360 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of DENTSPLY SIRONA by 21.8% in the third quarter. Barclays PLC now owns 306,809 shares of the medical instruments supplier's stock valued at $8,301,000 after acquiring an additional 54,920 shares during the period. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Activity

In other news, Director Gregory T. Lucier acquired 15,142 shares of the business's stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $16.51 per share, with a total value of $249,994.42. Following the completion of the acquisition, the director now owns 81,971 shares of the company's stock, valued at approximately $1,353,341.21. This represents a 22.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.52% of the company's stock.

DENTSPLY SIRONA Stock Performance

DENTSPLY SIRONA stock traded up $0.22 during trading hours on Wednesday, hitting $14.87. 2,269,286 shares of the stock traded hands, compared to its average volume of 3,089,841. The firm's 50 day moving average price is $17.37 and its 200-day moving average price is $19.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.84. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of -7.18, a P/E/G ratio of 1.80 and a beta of 0.98. DENTSPLY SIRONA Inc. has a 1 year low of $14.53 and a 1 year high of $33.02.

DENTSPLY SIRONA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.30%. DENTSPLY SIRONA's payout ratio is currently -14.07%.

Analysts Set New Price Targets

Several brokerages have issued reports on XRAY. Needham & Company LLC reiterated a "hold" rating on shares of DENTSPLY SIRONA in a research report on Thursday, March 13th. Wells Fargo & Company reduced their target price on shares of DENTSPLY SIRONA from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Mizuho dropped their price objective on DENTSPLY SIRONA from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Jefferies Financial Group downgraded DENTSPLY SIRONA from a "buy" rating to a "hold" rating and reduced their price target for the company from $30.00 to $20.00 in a report on Thursday, January 23rd. Finally, Robert W. Baird cut their price objective on DENTSPLY SIRONA from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $23.33.

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.