Short Interest in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Declines By 23.2%

DENTSPLY SIRONA Inc. (NASDAQ:XRAYGet Rating) saw a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 2,780,000 shares, a decrease of 23.2% from the April 15th total of 3,620,000 shares. Based on an average trading volume of 2,440,000 shares, the days-to-cover ratio is presently 1.1 days. Currently, 1.3% of the shares of the company are sold short.

In other news, Director Eric Brandt sold 6,900 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $39.71, for a total value of $273,999.00. Following the completion of the sale, the director now directly owns 35,155 shares of the company’s stock, valued at $1,396,005.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Optimal Asset Management Inc. increased its position in DENTSPLY SIRONA by 0.3% in the third quarter. Optimal Asset Management Inc. now owns 68,883 shares of the medical instruments supplier’s stock worth $3,999,000 after purchasing an additional 186 shares during the period. State of Michigan Retirement System increased its position in DENTSPLY SIRONA by 0.4% in the fourth quarter. State of Michigan Retirement System now owns 55,049 shares of the medical instruments supplier’s stock worth $3,071,000 after purchasing an additional 200 shares during the period. Mutual of America Capital Management LLC increased its position in DENTSPLY SIRONA by 0.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 28,920 shares of the medical instruments supplier’s stock worth $1,613,000 after purchasing an additional 201 shares during the period. Signaturefd LLC increased its position in DENTSPLY SIRONA by 13.0% in the fourth quarter. Signaturefd LLC now owns 1,786 shares of the medical instruments supplier’s stock worth $100,000 after purchasing an additional 205 shares during the period. Finally, Headinvest LLC increased its position in DENTSPLY SIRONA by 0.4% in the third quarter. Headinvest LLC now owns 61,365 shares of the medical instruments supplier’s stock worth $3,562,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors own 94.79% of the company’s stock.

Several research analysts recently commented on XRAY shares. Robert W. Baird cut DENTSPLY SIRONA from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $67.00 to $48.00 in a research report on Tuesday, April 19th. StockNews.com cut DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. TheStreet cut DENTSPLY SIRONA from a “b-” rating to a “c+” rating in a report on Friday, March 18th. Barrington Research cut their price objective on DENTSPLY SIRONA from $53.00 to $51.00 in a report on Wednesday, May 11th. Finally, Piper Sandler reissued a “neutral” rating and set a $46.00 price objective (down from $71.00) on shares of DENTSPLY SIRONA in a report on Wednesday, April 20th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $52.89.

Shares of NASDAQ:XRAY opened at $38.97 on Wednesday. DENTSPLY SIRONA has a twelve month low of $35.00 and a twelve month high of $69.07. The firm has a market cap of $8.40 billion, a PE ratio of 23.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.03 and a current ratio of 1.45. The business has a fifty day moving average of $45.20 and a 200-day moving average of $50.91.

DENTSPLY SIRONA (NASDAQ:XRAYGet Rating) last announced its earnings results on Tuesday, May 10th. The medical instruments supplier reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). DENTSPLY SIRONA had a net margin of 8.81% and a return on equity of 11.63%. The business had revenue of $9.67 billion during the quarter, compared to analyst estimates of $982.05 million. During the same quarter last year, the business posted $0.72 earnings per share. The business’s quarterly revenue was up 841.1% compared to the same quarter last year. On average, analysts anticipate that DENTSPLY SIRONA will post 2.41 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Friday, March 25th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.28%. This is a positive change from DENTSPLY SIRONA’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, March 24th. DENTSPLY SIRONA’s dividend payout ratio (DPR) is presently 29.59%.

About DENTSPLY SIRONA (Get Rating)

DENTSPLY SIRONA Inc designs, develops, manufactures, distributes, and sells various dental products and technologies for professional dental market worldwide. It offers dental equipment, including treatment centers, imaging equipment, motorized dental handpieces, and other instruments; imaging equipment; treatment centers comprising basic dentist chairs, sophisticated chair-based units with integrated diagnostic, hygiene and ergonomic functionalities, and specialist centers; and lab equipment, such as amalgamators, mixing machines, and porcelain furnaces.

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