Cooke & Bieler LP Increases Stock Position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Cooke & Bieler LP boosted its stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 24.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,172,876 shares of the medical instruments supplier's stock after buying an additional 1,794,391 shares during the quarter. DENTSPLY SIRONA makes up approximately 1.7% of Cooke & Bieler LP's portfolio, making the stock its 20th largest holding. Cooke & Bieler LP owned approximately 4.61% of DENTSPLY SIRONA worth $174,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in shares of DENTSPLY SIRONA by 15,105.1% during the fourth quarter. Pacer Advisors Inc. now owns 4,503,591 shares of the medical instruments supplier's stock worth $85,478,000 after buying an additional 4,473,972 shares in the last quarter. JPMorgan Chase & Co. raised 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 valued at $49,990,000 after buying an additional 1,244,326 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of DENTSPLY SIRONA during the third quarter worth about $23,724,000. National Bank of Canada FI raised its stake in DENTSPLY SIRONA by 85.8% during the 3rd quarter. National Bank of Canada FI now owns 1,628,200 shares of the medical instruments supplier's stock valued at $44,059,000 after acquiring an additional 751,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in DENTSPLY SIRONA by 50.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,065,773 shares of the medical instruments supplier's stock worth $55,900,000 after acquiring an additional 692,100 shares during the period. Institutional investors and hedge funds own 95.70% of the company's stock.

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Analyst Upgrades and Downgrades

XRAY has been the subject of a number of analyst reports. Mizuho cut their target price on DENTSPLY SIRONA from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday. Morgan Stanley decreased their target price on DENTSPLY SIRONA from $30.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Wells Fargo & Company dropped their price objective on shares of DENTSPLY SIRONA from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Evercore ISI reiterated an "in-line" rating and set a $20.00 target price on shares of DENTSPLY SIRONA in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group lowered DENTSPLY SIRONA from a "buy" rating to a "hold" rating and dropped their price target for the company from $30.00 to $20.00 in a research report on Thursday, January 23rd. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, DENTSPLY SIRONA presently has a consensus rating of "Hold" and an average price target of $23.33.

DENTSPLY SIRONA Stock Up 3.7 %

XRAY traded up $0.56 during midday trading on Friday, hitting $15.56. The company had a trading volume of 4,512,970 shares, compared to its average volume of 2,673,379. The stock's 50 day moving average price is $18.28 and its 200 day moving average price is $20.93. DENTSPLY SIRONA Inc. has a 52 week low of $14.77 and a 52 week high of $33.72. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -7.52, a PEG ratio of 1.80 and a beta of 0.98. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.

DENTSPLY SIRONA Announces Dividend

The company 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 $0.16 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.64 annualized dividend and a yield of 4.11%. DENTSPLY SIRONA's dividend payout ratio (DPR) is -14.07%.

Insider Activity

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

About DENTSPLY SIRONA

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.