VELA Investment Management LLC Buys New Holdings in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

VELA Investment Management LLC bought a new stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 80,120 shares of the medical instruments supplier’s stock, valued at approximately $2,168,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambiar Investors LLC raised its position in DENTSPLY SIRONA by 3.3% in the third quarter. Cambiar Investors LLC now owns 340,234 shares of the medical instruments supplier’s stock valued at $9,207,000 after purchasing an additional 10,862 shares during the period. US Bancorp DE raised its position in DENTSPLY SIRONA by 6.0% in the third quarter. US Bancorp DE now owns 59,553 shares of the medical instruments supplier’s stock valued at $1,612,000 after purchasing an additional 3,397 shares during the period. State of Alaska Department of Revenue raised its position in DENTSPLY SIRONA by 2.4% in the third quarter. State of Alaska Department of Revenue now owns 23,545 shares of the medical instruments supplier’s stock valued at $637,000 after purchasing an additional 560 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in DENTSPLY SIRONA by 43.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,038 shares of the medical instruments supplier’s stock valued at $326,000 after purchasing an additional 3,671 shares during the period. Finally, Osborne Partners Capital Management LLC raised its position in DENTSPLY SIRONA by 1.1% in the third quarter. Osborne Partners Capital Management LLC now owns 332,423 shares of the medical instruments supplier’s stock valued at $8,995,000 after purchasing an additional 3,556 shares during the period. Institutional investors and hedge funds own 95.70% of the company’s stock.

DENTSPLY SIRONA Stock Up 1.4 %

NASDAQ:XRAY traded up $0.32 during mid-day trading on Friday, reaching $23.49. The stock had a trading volume of 2,328,568 shares, compared to its average volume of 2,225,088. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -27.31, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. DENTSPLY SIRONA Inc. has a 1-year low of $22.85 and a 1-year high of $37.60. The stock’s 50 day simple moving average is $25.08 and its two-hundred day simple moving average is $26.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 0.87.

DENTSPLY SIRONA (NASDAQ:XRAY) last posted its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The firm had revenue of $984.00 million during the quarter, compared to analyst estimates of $993.61 million. DENTSPLY SIRONA had a positive return on equity of 11.86% and a negative net margin of 4.75%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. Equities analysts anticipate that DENTSPLY SIRONA Inc. will post 1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barrington Research reissued an “outperform” rating and issued a $36.00 price objective on shares of DENTSPLY SIRONA in a research report on Friday, September 20th. Needham & Company LLC dropped their target price on DENTSPLY SIRONA from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus dropped their target price on DENTSPLY SIRONA from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Robert W. Baird dropped their target price on DENTSPLY SIRONA from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, StockNews.com raised DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, DENTSPLY SIRONA has a consensus rating of “Moderate Buy” and an average price target of $32.67.

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.