DENTSPLY SIRONA Sees Unusually High Options Volume (NASDAQ:XRAY)

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 757 put options on the company. This is an increase of 951% compared to the typical daily volume of 72 put options.

In related news, insider Walter Petersohn sold 17,425 shares of the firm’s stock in a transaction dated Tuesday, May 25th. The shares were sold at an average price of $67.40, for a total value of $1,174,445.00. Following the transaction, the insider now directly owns 55,222 shares of the company’s stock, valued at approximately $3,721,962.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.69% of the company’s stock.

A number of institutional investors have recently bought and sold shares of XRAY. Price T Rowe Associates Inc. MD increased its holdings in DENTSPLY SIRONA by 61.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,798,974 shares of the medical instruments supplier’s stock valued at $1,008,133,000 after purchasing an additional 6,036,611 shares during the last quarter. Norges Bank acquired a new position in shares of DENTSPLY SIRONA in the fourth quarter worth $117,041,000. Janus Henderson Group PLC grew its stake in shares of DENTSPLY SIRONA by 13.3% in the first quarter. Janus Henderson Group PLC now owns 10,429,648 shares of the medical instruments supplier’s stock worth $665,516,000 after acquiring an additional 1,223,073 shares in the last quarter. BlackRock Inc. grew its stake in shares of DENTSPLY SIRONA by 6.8% in the first quarter. BlackRock Inc. now owns 17,073,574 shares of the medical instruments supplier’s stock worth $1,089,466,000 after acquiring an additional 1,089,635 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in shares of DENTSPLY SIRONA in the first quarter worth $55,591,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

XRAY stock opened at $64.07 on Thursday. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 81.10, a PEG ratio of 1.06 and a beta of 0.93. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average price is $66.43. DENTSPLY SIRONA has a one year low of $40.15 and a one year high of $69.54.

DENTSPLY SIRONA (NASDAQ:XRAY) last posted its earnings results on Thursday, May 6th. The medical instruments supplier reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.17. DENTSPLY SIRONA had a net margin of 4.99% and a return on equity of 9.45%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $944.89 million. During the same quarter last year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, sell-side analysts forecast that DENTSPLY SIRONA will post 2.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 9th. Investors of record on Friday, June 25th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, June 24th. This is an increase from DENTSPLY SIRONA’s previous quarterly dividend of $0.10. DENTSPLY SIRONA’s dividend payout ratio (DPR) is 22.35%.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of DENTSPLY SIRONA from a “buy” rating to a “hold” rating and set a $68.00 target price on the stock. in a research note on Monday. Barrington Research raised their target price on shares of DENTSPLY SIRONA from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, May 7th. Barclays raised their target price on shares of DENTSPLY SIRONA from $50.00 to $55.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 2nd. Piper Sandler raised their target price on shares of DENTSPLY SIRONA from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 6th. Finally, HC Wainwright lifted their price target on shares of DENTSPLY SIRONA from $60.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $64.44.

About DENTSPLY SIRONA

DENTSPLY SIRONA Inc designs, develops, manufactures, distributes, and sells various dental products and technologies primarily for 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 and restorative materials, tooth whiteners, and topical fluoride products; and small equipment products comprise intraoral curing light systems, dental diagnostic systems, and ultrasonic scalers and polishers.

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