Balyasny Asset Management L.P. Takes $576,000 Position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Balyasny Asset Management L.P. acquired a new stake in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 30,343 shares of the medical instruments supplier’s stock, valued at approximately $576,000.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in DENTSPLY SIRONA by 15,105.1% during the fourth quarter. Pacer Advisors Inc. now owns 4,503,591 shares of the medical instruments supplier’s stock valued at $85,478,000 after buying an additional 4,473,972 shares during the period. Nuance Investments LLC grew its position in DENTSPLY SIRONA by 25.0% during the fourth quarter. Nuance Investments LLC now owns 13,545,981 shares of the medical instruments supplier’s stock valued at $257,103,000 after buying an additional 2,708,097 shares during the period. Norges Bank bought a new stake in DENTSPLY SIRONA during the fourth quarter valued at approximately $45,730,000. AQR Capital Management LLC grew its position in DENTSPLY SIRONA by 245.1% during the fourth quarter. AQR Capital Management LLC now owns 2,893,023 shares of the medical instruments supplier’s stock valued at $54,389,000 after buying an additional 2,054,767 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in DENTSPLY SIRONA by 18.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,549,242 shares of the medical instruments supplier’s stock valued at $238,186,000 after buying an additional 1,975,404 shares during the period. 95.70% of the stock is owned by hedge funds and other institutional investors.

DENTSPLY SIRONA Stock Up 0.3%

XRAY opened at $16.50 on Friday. The firm has a 50-day simple moving average of $14.39 and a two-hundred day simple moving average of $17.43. DENTSPLY SIRONA Inc. has a 52 week low of $12.16 and a 52 week high of $28.47. The company has a market capitalization of $3.29 billion, a PE ratio of -7.97, a price-to-earnings-growth ratio of 1.80 and a beta of 0.92. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $0.43 EPS for the quarter, beating the consensus estimate of $0.29 by $0.14. DENTSPLY SIRONA had a negative net margin of 10.59% and a positive return on equity of 12.62%. The business had revenue of $879.00 million during the quarter, compared to the consensus estimate of $854.75 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue was down 7.8% on a year-over-year basis. Analysts forecast that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current fiscal year.

DENTSPLY SIRONA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Friday, March 28th. DENTSPLY SIRONA’s dividend payout ratio (DPR) is presently -14.10%.

Insider Activity

In other DENTSPLY SIRONA news, Director Gregory T. Lucier bought 15,142 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $16.51 per share, for a total transaction of $249,994.42. Following the transaction, the director now owns 81,971 shares of the company’s stock, valued at $1,353,341.21. This represents a 22.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on XRAY shares. Robert W. Baird cut their target price on shares of DENTSPLY SIRONA from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Jefferies Financial Group cut shares of DENTSPLY SIRONA from a “buy” rating to a “hold” rating and lowered their target price for the company from $30.00 to $20.00 in a research note on Thursday, January 23rd. Morgan Stanley downgraded shares of DENTSPLY SIRONA from an “overweight” rating to an “equal weight” rating and set a $14.00 target price for the company. in a report on Tuesday, April 15th. StockNews.com raised shares of DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Wells Fargo & Company dropped their target price on shares of DENTSPLY SIRONA from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, DENTSPLY SIRONA presently has an average rating of “Hold” and a consensus target price of $20.36.

About DENTSPLY SIRONA

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.