Canvas Wealth Advisors LLC Trims Holdings in DENTSPLY SIRONA Inc. $XRAY

Canvas Wealth Advisors LLC cut its position in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY) by 94.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,649 shares of the medical instruments supplier’s stock after selling 252,388 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in DENTSPLY SIRONA were worth $251,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Chicago Partners Investment Group LLC acquired a new stake in DENTSPLY SIRONA during the second quarter worth approximately $277,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of DENTSPLY SIRONA during the 2nd quarter worth $725,000. Nordea Investment Management AB boosted its holdings in shares of DENTSPLY SIRONA by 71.0% during the second quarter. Nordea Investment Management AB now owns 428,015 shares of the medical instruments supplier’s stock worth $6,853,000 after purchasing an additional 177,750 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of DENTSPLY SIRONA by 56.3% in the second quarter. Allianz Asset Management GmbH now owns 828,670 shares of the medical instruments supplier’s stock valued at $13,159,000 after purchasing an additional 298,413 shares during the period. Finally, NorthRock Partners LLC acquired a new position in DENTSPLY SIRONA in the second quarter valued at $207,000. Institutional investors and hedge funds own 95.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Stifel Nicolaus lowered their price target on DENTSPLY SIRONA from $19.00 to $17.00 and set a “hold” rating for the company in a report on Friday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of DENTSPLY SIRONA in a research report on Friday, September 26th. Barrington Research reduced their target price on DENTSPLY SIRONA from $21.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DENTSPLY SIRONA in a research report on Wednesday, October 8th. Finally, Evercore ISI decreased their price objective on shares of DENTSPLY SIRONA from $17.00 to $13.00 and set an “in-line” rating for the company in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, DENTSPLY SIRONA has a consensus rating of “Hold” and an average target price of $18.00.

DENTSPLY SIRONA Stock Up 3.4%

Shares of NASDAQ:XRAY opened at $12.93 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.69 and a debt-to-equity ratio of 1.13. DENTSPLY SIRONA Inc. has a 52-week low of $11.69 and a 52-week high of $24.86. The company has a 50 day moving average of $13.39 and a two-hundred day moving average of $14.52. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -2.73, a price-to-earnings-growth ratio of 0.78 and a beta of 0.96.

DENTSPLY SIRONA (NASDAQ:XRAY) last posted its earnings results on Thursday, August 7th. The medical instruments supplier reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $936.00 million for the quarter, compared to analysts’ expectations of $929.67 million. DENTSPLY SIRONA had a negative net margin of 25.85% and a positive return on equity of 16.33%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. DENTSPLY SIRONA has set its FY 2025 guidance at 1.800-2.000 EPS. As a group, analysts forecast that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current fiscal year.

DENTSPLY SIRONA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, September 26th. This represents a $0.64 annualized dividend and a dividend yield of 4.9%. DENTSPLY SIRONA’s dividend payout ratio (DPR) is currently -13.50%.

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.