Southpoint Capital Advisors LP Invests $116 Million in DENTSPLY SIRONA Inc. $XRAY

Southpoint Capital Advisors LP purchased a new stake in shares of DENTSPLY SIRONA Inc. (NASDAQ:XRAY) during the first quarter, HoldingsChannel reports. The institutional investor purchased 10,000,000 shares of the medical instruments supplier’s stock, valued at approximately $116,000,000. DENTSPLY SIRONA makes up approximately 2.4% of Southpoint Capital Advisors LP’s portfolio, making the stock its 18th biggest holding.

Several other large investors have also recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC grew its stake in shares of DENTSPLY SIRONA by 3.2% in the fourth quarter. First Eagle Investment Management LLC now owns 14,640,555 shares of the medical instruments supplier’s stock valued at $167,342,000 after buying an additional 458,744 shares in the last quarter. AQR Capital Management LLC boosted its holdings in DENTSPLY SIRONA by 109.8% in the 2nd quarter. AQR Capital Management LLC now owns 13,316,771 shares of the medical instruments supplier’s stock worth $211,470,000 after acquiring an additional 6,970,086 shares during the period. Lazard Asset Management LLC boosted its holdings in DENTSPLY SIRONA by 0.9% in the 3rd quarter. Lazard Asset Management LLC now owns 10,200,525 shares of the medical instruments supplier’s stock worth $129,445,000 after acquiring an additional 92,868 shares during the period. Armistice Capital LLC grew its position in DENTSPLY SIRONA by 27.2% in the fourth quarter. Armistice Capital LLC now owns 7,298,000 shares of the medical instruments supplier’s stock valued at $83,416,000 after acquiring an additional 1,562,000 shares in the last quarter. Finally, State Street Corp raised its stake in shares of DENTSPLY SIRONA by 5.5% during the second quarter. State Street Corp now owns 7,099,906 shares of the medical instruments supplier’s stock valued at $113,868,000 after purchasing an additional 369,876 shares during the period. 95.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

XRAY has been the topic of a number of recent research reports. Citigroup began coverage on shares of DENTSPLY SIRONA in a research note on Wednesday, April 15th. They issued a “sell” rating and a $10.00 target price for the company. UBS Group cut their price objective on shares of DENTSPLY SIRONA from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Weiss Ratings cut shares of DENTSPLY SIRONA from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. Barclays lowered their target price on DENTSPLY SIRONA from $12.00 to $9.00 and set an “underweight” rating for the company in a research note on Thursday, June 4th. Finally, Mizuho dropped their target price on DENTSPLY SIRONA from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, DENTSPLY SIRONA presently has a consensus rating of “Hold” and an average price target of $13.42.

Insider Transactions at DENTSPLY SIRONA

In other DENTSPLY SIRONA news, Director Brian P. Mckeon acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price of $10.12 per share, for a total transaction of $101,200.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at $101,200. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian T. Gladden bought 9,985 shares of the business’s stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $10.02 per share, for a total transaction of $100,049.70. Following the acquisition, the director directly owned 61,849 shares of the company’s stock, valued at $619,726.98. The trade was a 19.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 35,160 shares of company stock worth $351,179. 0.46% of the stock is currently owned by insiders.

DENTSPLY SIRONA Stock Performance

XRAY stock opened at $13.02 on Tuesday. The stock’s 50 day simple moving average is $11.14 and its 200 day simple moving average is $11.81. DENTSPLY SIRONA Inc. has a 12-month low of $9.40 and a 12-month high of $16.29. The firm has a market cap of $2.61 billion, a P/E ratio of -4.13, a P/E/G ratio of 1.54 and a beta of 0.89. The company has a current ratio of 1.53, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52.

DENTSPLY SIRONA (NASDAQ:XRAY) last released its quarterly earnings data on Tuesday, May 5th. The medical instruments supplier reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). DENTSPLY SIRONA had a positive return on equity of 18.83% and a negative net margin of 17.06%.The business had revenue of $880.00 million during the quarter, compared to analyst estimates of $841.80 million. During the same period in the prior year, the firm earned $0.43 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. DENTSPLY SIRONA has set its FY 2026 guidance at 1.400-1.500 EPS. As a group, equities research analysts predict that DENTSPLY SIRONA Inc. will post 1.42 EPS for the current year.

DENTSPLY SIRONA Company Profile

Dentsply Sirona Inc (NASDAQ: XRAY) is a leading global manufacturer of professional dental products and technologies. The company, formed through the merger of Dentsply International and Sirona Dental Systems in February 2016, brings together a long heritage of innovation in dental care. Headquartered in Charlotte, North Carolina, Dentsply Sirona develops and markets a comprehensive range of dental consumables, laboratory products, and advanced imaging and CAD/CAM systems.

The company’s product portfolio spans preventive, restorative, orthodontic, endodontic and surgical care.