Cannon Global Investment Management LLC Buys Shares of 13,900 DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Cannon Global Investment Management LLC bought a new stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,900 shares of the medical instruments supplier’s stock, valued at approximately $461,000. DENTSPLY SIRONA comprises approximately 1.2% of Cannon Global Investment Management LLC’s portfolio, making the stock its 27th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Bar Harbor Wealth Management bought a new position in shares of DENTSPLY SIRONA in the fourth quarter valued at approximately $4,931,000. DAVENPORT & Co LLC bought a new position in shares of DENTSPLY SIRONA in the fourth quarter valued at approximately $1,220,000. Dimensional Fund Advisors LP raised its position in shares of DENTSPLY SIRONA by 10.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,122,355 shares of the medical instruments supplier’s stock valued at $75,535,000 after purchasing an additional 197,431 shares during the period. Power Corp of Canada bought a new position in shares of DENTSPLY SIRONA in the fourth quarter valued at approximately $4,380,000. Finally, Generation Investment Management LLP increased its position in DENTSPLY SIRONA by 43.4% during the fourth quarter. Generation Investment Management LLP now owns 6,598,211 shares of the medical instruments supplier’s stock worth $234,830,000 after acquiring an additional 1,998,012 shares during the period. 95.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on XRAY. Barrington Research dropped their target price on shares of DENTSPLY SIRONA from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Evercore ISI dropped their target price on shares of DENTSPLY SIRONA from $35.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday. The Goldman Sachs Group dropped their target price on shares of DENTSPLY SIRONA from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. StockNews.com lowered shares of DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Needham & Company LLC dropped their target price on shares of DENTSPLY SIRONA from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.44.

DENTSPLY SIRONA Stock Performance

XRAY traded down $0.22 during trading on Friday, reaching $24.91. 4,198,537 shares of the company’s stock were exchanged, compared to its average volume of 2,476,896. DENTSPLY SIRONA Inc. has a fifty-two week low of $24.71 and a fifty-two week high of $41.65. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $27.72 and a 200 day moving average price of $31.72. The company has a market capitalization of $5.17 billion, a P/E ratio of -56.61, a PEG ratio of 1.13 and a beta of 1.04.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. DENTSPLY SIRONA had a negative net margin of 2.41% and a positive return on equity of 11.54%. The company had revenue of $953.00 million for the quarter, compared to the consensus estimate of $969.45 million. During the same quarter in the previous year, the company earned $0.39 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, analysts predict that DENTSPLY SIRONA Inc. will post 2.02 earnings per share for the current fiscal year.

DENTSPLY SIRONA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.64 annualized dividend and a dividend yield of 2.57%. DENTSPLY SIRONA’s dividend payout ratio is presently -145.45%.

Insider Activity

In other news, Director Gregory T. Lucier bought 3,577 shares of DENTSPLY SIRONA stock in a transaction dated Friday, May 31st. The shares were bought at an average price of $27.95 per share, for a total transaction of $99,977.15. Following the purchase, the director now owns 58,374 shares of the company’s stock, valued at $1,631,553.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by corporate insiders.

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.