Norges Bank Takes $45.73 Million Position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Norges Bank acquired a new stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,409,397 shares of the medical instruments supplier's stock, valued at approximately $45,730,000. Norges Bank owned about 1.21% of DENTSPLY SIRONA as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of DENTSPLY SIRONA in the 4th quarter valued at approximately $26,000. MassMutual Private Wealth & Trust FSB increased its stake in DENTSPLY SIRONA by 648.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,422 shares of the medical instruments supplier's stock valued at $27,000 after purchasing an additional 1,232 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of DENTSPLY SIRONA by 60.8% during the fourth quarter. UMB Bank n.a. now owns 1,492 shares of the medical instruments supplier's stock worth $28,000 after purchasing an additional 564 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of DENTSPLY SIRONA by 700.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,792 shares of the medical instruments supplier's stock worth $33,000 after buying an additional 1,568 shares during the last quarter. Finally, Quarry LP grew its position in shares of DENTSPLY SIRONA by 455.0% during the 3rd quarter. Quarry LP now owns 3,036 shares of the medical instruments supplier's stock valued at $82,000 after buying an additional 2,489 shares during the last quarter. Institutional investors and hedge funds own 95.70% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have issued reports on XRAY. Barrington Research cut their target price on shares of DENTSPLY SIRONA from $24.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Robert W. Baird reduced their price objective on DENTSPLY SIRONA from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, February 28th. Evercore ISI reaffirmed an "in-line" rating and issued a $20.00 target price on shares of DENTSPLY SIRONA in a research report on Tuesday, January 7th. Needham & Company LLC reissued a "hold" rating on shares of DENTSPLY SIRONA in a report on Thursday, March 13th. Finally, Morgan Stanley dropped their price objective on shares of DENTSPLY SIRONA from $30.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, DENTSPLY SIRONA has an average rating of "Hold" and a consensus price target of $23.33.

DENTSPLY SIRONA Price Performance

XRAY traded up $1.00 during trading on Wednesday, reaching $13.66. The stock had a trading volume of 5,491,747 shares, compared to its average volume of 2,937,192. The stock has a 50 day moving average of $16.47 and a two-hundred day moving average of $19.34. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -6.60, a price-to-earnings-growth ratio of 1.80 and a beta of 0.92. DENTSPLY SIRONA Inc. has a 1-year low of $12.18 and a 1-year high of $32.83.

DENTSPLY SIRONA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Friday, March 28th. DENTSPLY SIRONA's payout ratio is currently -14.07%.

Insiders Place Their Bets

In related news, Director Gregory T. Lucier purchased 15,142 shares of the company's stock in a transaction on Monday, March 3rd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.52% of the stock is owned by company insiders.

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.