Deerfield Management Company L.P. Series C Boosts Stock Holdings in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Deerfield Management Company L.P. Series C increased its stake in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) by 536.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,972 shares of the medical instruments supplier's stock after acquiring an additional 41,282 shares during the quarter. Deerfield Management Company L.P. Series C's holdings in DENTSPLY SIRONA were worth $1,220,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in shares of DENTSPLY SIRONA in the 4th quarter valued at about $26,000. LRI Investments LLC lifted its stake in shares of DENTSPLY SIRONA by 82.7% during the 2nd quarter. LRI Investments LLC now owns 1,246 shares of the medical instruments supplier's stock worth $31,000 after acquiring an additional 564 shares during the last quarter. Rothschild Investment LLC purchased a new position in DENTSPLY SIRONA during the 2nd quarter valued at $32,000. Central Pacific Bank Trust Division bought a new position in DENTSPLY SIRONA in the 1st quarter valued at $64,000. Finally, Mather Group LLC. purchased a new stake in DENTSPLY SIRONA in the first quarter worth $72,000. Hedge funds and other institutional investors own 95.70% of the company's stock.

DENTSPLY SIRONA Stock Up 3.0 %

Shares of XRAY stock traded up $0.78 during trading hours on Thursday, reaching $26.51. 1,298,873 shares of the company's stock were exchanged, compared to its average volume of 3,063,214. The company has a current ratio of 1.33, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company has a market cap of $5.37 billion, a price-to-earnings ratio of -60.25, a P/E/G ratio of 1.25 and a beta of 1.00. DENTSPLY SIRONA Inc. has a fifty-two week low of $23.58 and a fifty-two week high of $37.60. The stock's 50 day moving average is $25.52 and its 200-day moving average is $27.70.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). DENTSPLY SIRONA had a positive return on equity of 11.86% and a negative net margin of 4.75%. The business had revenue of $984.00 million during the quarter, compared to analyst estimates of $993.61 million. During the same period in the prior year, the business posted $0.51 EPS. DENTSPLY SIRONA's revenue was down 4.3% compared to the same quarter last year. Analysts predict that DENTSPLY SIRONA Inc. will post 1.99 earnings per share for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, September 27th. DENTSPLY SIRONA's dividend payout ratio (DPR) is -145.45%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on XRAY. Evercore ISI reduced their target price on shares of DENTSPLY SIRONA from $28.00 to $27.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 9th. Stifel Nicolaus dropped their price target on DENTSPLY SIRONA from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, July 18th. Needham & Company LLC restated a "buy" rating and issued a $34.00 price objective on shares of DENTSPLY SIRONA in a report on Tuesday, August 20th. Robert W. Baird dropped their target price on shares of DENTSPLY SIRONA from $33.00 to $31.00 and set a "neutral" rating on the stock in a report on Monday, July 22nd. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price target on shares of DENTSPLY SIRONA in a research report on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.22.

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.