Short Interest in DENTSPLY SIRONA Inc (NASDAQ:XRAY) Declines By 17.1%

DENTSPLY SIRONA Inc (NASDAQ:XRAY) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 3,540,000 shares, a decrease of 17.1% from the December 15th total of 4,270,000 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average trading volume of 1,320,000 shares, the short-interest ratio is currently 2.7 days.

A number of brokerages recently issued reports on XRAY. Zacks Investment Research upgraded shares of DENTSPLY SIRONA from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Tuesday, December 10th. BidaskClub lowered shares of DENTSPLY SIRONA from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. ValuEngine lowered shares of DENTSPLY SIRONA from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. HC Wainwright reiterated a “hold” rating and issued a $60.00 target price on shares of DENTSPLY SIRONA in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. lowered shares of DENTSPLY SIRONA from an “overweight” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Wednesday, December 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $56.77.

Shares of XRAY opened at $58.11 on Tuesday. The firm has a 50-day moving average price of $57.09 and a 200 day moving average price of $55.01. The firm has a market capitalization of $12.85 billion, a PE ratio of 28.91, a P/E/G ratio of 1.81 and a beta of 0.94. The company has a quick ratio of 1.39, a current ratio of 2.08 and a debt-to-equity ratio of 0.30. DENTSPLY SIRONA has a 52-week low of $39.58 and a 52-week high of $60.15.

DENTSPLY SIRONA (NASDAQ:XRAY) last issued its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. DENTSPLY SIRONA had a net margin of 4.08% and a return on equity of 10.08%. The company had revenue of $962.10 million during the quarter, compared to the consensus estimate of $940.38 million. During the same period in the prior year, the company earned $0.38 EPS. DENTSPLY SIRONA’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts expect that DENTSPLY SIRONA will post 2.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Thursday, December 26th. DENTSPLY SIRONA’s payout ratio is 19.90%.

In other news, Director Michael C. Alfano sold 10,665 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $56.27, for a total transaction of $600,119.55. Following the completion of the transaction, the director now owns 15,153 shares in the company, valued at $852,659.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of XRAY. Vanguard Group Inc. lifted its holdings in DENTSPLY SIRONA by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 25,969,056 shares of the medical instruments supplier’s stock valued at $1,515,556,000 after acquiring an additional 1,688,546 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in DENTSPLY SIRONA by 286.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,501,763 shares of the medical instruments supplier’s stock valued at $80,059,000 after acquiring an additional 1,113,453 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in DENTSPLY SIRONA in the 2nd quarter valued at about $64,278,000. Parnassus Investments CA lifted its holdings in DENTSPLY SIRONA by 54.8% in the 3rd quarter. Parnassus Investments CA now owns 2,403,989 shares of the medical instruments supplier’s stock valued at $128,157,000 after acquiring an additional 850,850 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in DENTSPLY SIRONA by 745.7% in the 2nd quarter. AQR Capital Management LLC now owns 841,581 shares of the medical instruments supplier’s stock valued at $48,475,000 after acquiring an additional 742,064 shares during the last quarter. 94.36% of the stock is owned by institutional investors.

About DENTSPLY SIRONA

DENTSPLY SIRONA Inc designs, develops, manufactures, and markets various dental and oral health products, and other consumable healthcare products primarily for the professional dental market worldwide. The company operates in two segments, Technologies & Equipment; and Consumables. Its dental supplies include endodontic instruments and materials, dental anesthetics, prophylaxis pastes, dental sealants, impression materials, restorative materials, tooth whiteners, and topical fluoride products; and small equipment products comprise dental hand pieces, intraoral curing light systems, dental diagnostic systems, and ultrasonic scalers and polishers.

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