PNC Financial Services Group Inc. Raises Stake in DENTSPLY SIRONA Inc (NASDAQ:XRAY)

27 May 2020, 12:42 by Michael Walen

PNC Financial Services Group Inc. boosted its position in DENTSPLY SIRONA Inc (NASDAQ:XRAY) by 36.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,949 shares of the medical instruments supplier’s stock after buying an additional 12,660 shares during the quarter. PNC Financial Services Group Inc.’s holdings in DENTSPLY SIRONA were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of DENTSPLY SIRONA by 1.3% during the first quarter. BlackRock Inc. now owns 15,819,802 shares of the medical instruments supplier’s stock valued at $614,283,000 after purchasing an additional 202,335 shares during the period. State Street Corp raised its holdings in shares of DENTSPLY SIRONA by 1.0% during the fourth quarter. State Street Corp now owns 9,714,353 shares of the medical instruments supplier’s stock valued at $550,700,000 after acquiring an additional 95,478 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of DENTSPLY SIRONA by 118.8% during the fourth quarter. Janus Henderson Group PLC now owns 5,877,592 shares of the medical instruments supplier’s stock valued at $332,612,000 after acquiring an additional 3,190,941 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of DENTSPLY SIRONA by 40.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,057,912 shares of the medical instruments supplier’s stock valued at $229,636,000 after acquiring an additional 1,178,062 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of DENTSPLY SIRONA by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,654,510 shares of the medical instruments supplier’s stock valued at $206,410,000 after acquiring an additional 128,810 shares in the last quarter. 95.39% of the stock is owned by institutional investors and hedge funds.

DENTSPLY SIRONA stock opened at $45.33 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.02 and a quick ratio of 1.36. DENTSPLY SIRONA Inc has a one year low of $31.58 and a one year high of $60.87. The stock has a market capitalization of $9.25 billion, a PE ratio of 122.51, a price-to-earnings-growth ratio of 4.24 and a beta of 1.03. The business’s fifty day moving average is $40.16 and its 200 day moving average is $49.86.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings data on Friday, May 8th. The medical instruments supplier reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. DENTSPLY SIRONA had a return on equity of 10.70% and a net margin of 2.12%. The company had revenue of $873.30 million for the quarter, compared to analysts’ expectations of $873.00 million. During the same period last year, the firm posted $0.49 earnings per share. DENTSPLY SIRONA’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that DENTSPLY SIRONA Inc will post 1.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, June 25th. This represents a $0.40 annualized dividend and a dividend yield of 0.88%. DENTSPLY SIRONA’s dividend payout ratio (DPR) is presently 16.33%.

A number of equities analysts recently commented on XRAY shares. UBS Group decreased their target price on DENTSPLY SIRONA from $59.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, May 11th. ValuEngine upgraded DENTSPLY SIRONA from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Cfra decreased their price objective on DENTSPLY SIRONA from $53.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, May 14th. BidaskClub downgraded DENTSPLY SIRONA from a “hold” rating to a “sell” rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. decreased their price objective on DENTSPLY SIRONA from $65.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. DENTSPLY SIRONA presently has an average rating of “Hold” and a consensus price target of $48.83.

DENTSPLY SIRONA Profile

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.