Synovus Financial Corp Invests $240,000 in DENTSPLY SIRONA Inc. (NASDAQ:XRAY)

Synovus Financial Corp purchased a new stake in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,866 shares of the medical instruments supplier’s stock, valued at approximately $240,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Trust N.A. increased its stake in shares of DENTSPLY SIRONA by 4.9% in the 2nd quarter. Raymond James Trust N.A. now owns 9,658 shares of the medical instruments supplier’s stock worth $241,000 after acquiring an additional 453 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of 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. LRI Investments LLC increased its position in DENTSPLY SIRONA by 82.7% during the second quarter. LRI Investments LLC now owns 1,246 shares of the medical instruments supplier’s stock worth $31,000 after purchasing an additional 564 shares during the last quarter. MML Investors Services LLC raised its stake in DENTSPLY SIRONA by 2.1% during the third quarter. MML Investors Services LLC now owns 29,682 shares of the medical instruments supplier’s stock worth $803,000 after purchasing an additional 620 shares during the period. Finally, Allworth Financial LP boosted its holdings in DENTSPLY SIRONA by 40.2% in the 3rd quarter. Allworth Financial LP now owns 2,179 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 625 shares during the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group reduced their price target on shares of DENTSPLY SIRONA from $35.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Leerink Partners downgraded DENTSPLY SIRONA from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Evercore ISI lowered their price target on DENTSPLY SIRONA from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Morgan Stanley reduced their price objective on shares of DENTSPLY SIRONA from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Robert W. Baird decreased their target price on shares of DENTSPLY SIRONA from $31.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.91.

DENTSPLY SIRONA Price Performance

Shares of XRAY opened at $18.68 on Thursday. The company has a market cap of $3.71 billion, a P/E ratio of -9.02, a PEG ratio of 1.93 and a beta of 0.96. DENTSPLY SIRONA Inc. has a fifty-two week low of $17.21 and a fifty-two week high of $37.60. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average price is $21.07 and its 200 day moving average price is $24.04.

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

DENTSPLY SIRONA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, December 27th. DENTSPLY SIRONA’s dividend payout ratio is presently -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.