Canvas Wealth Advisors LLC Purchases 182,234 Shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Canvas Wealth Advisors LLC grew its position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) by 126.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 326,298 shares of the medical instruments supplier’s stock after purchasing an additional 182,234 shares during the quarter. DENTSPLY SIRONA makes up about 1.6% of Canvas Wealth Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Canvas Wealth Advisors LLC owned approximately 0.16% of DENTSPLY SIRONA worth $6,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in DENTSPLY SIRONA by 245.0% in the 4th quarter. Nordea Investment Management AB now owns 251,556 shares of the medical instruments supplier’s stock worth $4,754,000 after buying an additional 178,639 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of DENTSPLY SIRONA by 206.3% in the third quarter. JPMorgan Chase & Co. now owns 1,847,389 shares of the medical instruments supplier’s stock worth $49,990,000 after acquiring an additional 1,244,326 shares during the period. Barclays PLC grew its position in shares of DENTSPLY SIRONA by 21.8% during the third quarter. Barclays PLC now owns 306,809 shares of the medical instruments supplier’s stock worth $8,301,000 after purchasing an additional 54,920 shares in the last quarter. Quantinno Capital Management LP raised its stake in DENTSPLY SIRONA by 276.5% during the 3rd quarter. Quantinno Capital Management LP now owns 116,808 shares of the medical instruments supplier’s stock valued at $3,161,000 after purchasing an additional 85,787 shares during the period. Finally, VELA Investment Management LLC purchased a new position in DENTSPLY SIRONA in the 3rd quarter worth approximately $2,168,000. 95.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

XRAY has been the subject of a number of research analyst reports. Barrington Research cut their price objective on shares of DENTSPLY SIRONA from $36.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Morgan Stanley reduced their price target on shares of DENTSPLY SIRONA from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Leerink Partners downgraded shares of DENTSPLY SIRONA from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. Robert W. Baird reduced their target price on DENTSPLY SIRONA from $31.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Finally, Needham & Company LLC boosted their target price on DENTSPLY SIRONA from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.33.

DENTSPLY SIRONA Stock Performance

NASDAQ XRAY opened at $18.76 on Monday. The business’s 50 day moving average price is $19.11 and its 200-day moving average price is $22.18. DENTSPLY SIRONA Inc. has a fifty-two week low of $17.21 and a fifty-two week high of $34.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.84.

DENTSPLY SIRONA (NASDAQ:XRAY) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $951.00 million for the quarter, compared to analysts’ expectations of $939.10 million. DENTSPLY SIRONA had a negative net margin of 10.59% and a positive return on equity of 12.62%. The business’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, analysts forecast that DENTSPLY SIRONA Inc. will post 1.84 earnings per share for the current year.

DENTSPLY SIRONA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Friday, December 27th. DENTSPLY SIRONA’s dividend payout ratio (DPR) is currently -30.92%.

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.