Victory Capital Management Inc. grew its position in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY – Free Report) by 317.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 36,032 shares of the medical instruments supplier’s stock after acquiring an additional 27,394 shares during the quarter. Victory Capital Management Inc.’s holdings in DENTSPLY SIRONA were worth $1,231,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. lifted its position in DENTSPLY SIRONA by 4.1% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,591 shares of the medical instruments supplier’s stock valued at $264,000 after purchasing an additional 261 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of DENTSPLY SIRONA by 3.2% in the 2nd quarter. Macquarie Group Ltd. now owns 8,879 shares of the medical instruments supplier’s stock valued at $318,000 after acquiring an additional 274 shares during the last quarter. Yousif Capital Management LLC increased its stake in DENTSPLY SIRONA by 1.0% during the second quarter. Yousif Capital Management LLC now owns 37,997 shares of the medical instruments supplier’s stock worth $1,521,000 after acquiring an additional 358 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in DENTSPLY SIRONA by 4.9% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,721 shares of the medical instruments supplier’s stock worth $219,000 after acquiring an additional 360 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in DENTSPLY SIRONA by 2.5% during the third quarter. Teacher Retirement System of Texas now owns 16,471 shares of the medical instruments supplier’s stock valued at $563,000 after purchasing an additional 397 shares during the period. 95.70% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CFO Glenn Coleman purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $29.70 per share, for a total transaction of $297,000.00. Following the completion of the purchase, the chief financial officer now owns 73,566 shares in the company, valued at approximately $2,184,910.20. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.74% of the company’s stock.
Analyst Upgrades and Downgrades
DENTSPLY SIRONA Stock Performance
Shares of NASDAQ:XRAY opened at $32.79 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.04 and a current ratio of 1.57. The firm has a market cap of $6.95 billion, a PE ratio of -32.47, a price-to-earnings-growth ratio of 2.04 and a beta of 1.01. The firm’s 50 day simple moving average is $34.70 and its 200-day simple moving average is $34.32. DENTSPLY SIRONA Inc. has a one year low of $26.27 and a one year high of $43.24.
DENTSPLY SIRONA announced that its board has approved a stock repurchase plan on Thursday, November 9th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical instruments supplier to buy up to 16.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
DENTSPLY SIRONA Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from DENTSPLY SIRONA’s previous quarterly dividend of $0.08. This represents a $0.56 dividend on an annualized basis and a yield of 1.71%. DENTSPLY SIRONA’s payout ratio is -55.44%.
About DENTSPLY SIRONA
DENTSPLY SIRONA Inc manufactures and sells various dental products and technologies for professional dental market worldwide. The company operates through two segments, Technologies & Equipment, and Consumables. The Technologies & Equipment segment provides dental equipment, such as treatment centers, imaging equipment, motorized dental handpieces, and other instruments for dental practitioners and specialists; dental CAD/CAM technologies for dental offices to support various digital dental procedures, including dental restorations; dentist-directed aligner solutions, SureSmile, and direct-to-consumer clear aligner solutions, as well as high frequency vibration technology device; implants; and urology catheters and other healthcare-related consumable products.
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