In a recent filing with the Securities & Exchange Commission, Knights of Columbus Asset Advisors LLC revealed that it has reduced its position in DENTSPLY SIRONA Inc. (NASDAQ:XRAY) by 48.9% in the first quarter. The firm now owns 20,863 shares of the renowned medical instruments supplier’s stock, after selling off 19,978 shares during the quarter. As of its most recent filing, Knights of Columbus Asset Advisors LLC’s holdings in DENTSPLY SIRONA were valued at $819,000.
DENTSPLY SIRONA last reported its quarterly earnings data on May 3rd, surprising investors with its performance. The medical instruments supplier recorded an EPS of $0.39 for the quarter, surpassing the consensus estimate of $0.34 by a margin of $0.05. Moreover, DENTSPLY SIRONA exhibited a positive return on equity of 8.65%, while also managing to mitigate concerns regarding its negative net margin of 26.41%. The company generated revenue worth $978 million during the quarter, beating analyst estimates that predicted revenue to be around $938.16 million.
Analysts have noted that this development is indeed encouraging and may bode well for DENTSPLY SIRONA’s future prospects as it seeks to expand its market presence further under challenging circumstances faced by many industries amid the ongoing global pandemic and economic uncertainty.
DENTSPLY SIRONA has demonstrated resilient growth despite prevailing challenges within the medical instruments industry and unprecedented global events. Notably, there was a year-over-year increase in its revenue by approximately 0.9% during the same period last year when compared to this year’s figures.
Financial experts predict that DENTSPLY SIRONA Inc.’s earnings per share (EPS) for the current fiscal year will amount to approximately 1.92.
Several research analysts have recently assessed various aspects related to DENTSPLY SIRONA. Morgan Stanley, for example, has raised its price objective for DENTSPLY SIRONA from $39.00 to $45.00 while issuing an “overweight” rating in their comprehensive research report published on April 19th. In addition, StockNews.com upgraded the company’s rating from “hold” to “buy” in a research report released on July 13th.
Other firms such as Robert W. Baird and Barrington Research have similarly increased their price objectives for DENTSPLY SIRONA. These analysts made upward revisions, raising the estimates from $36.00 to $46.00 and from $43.00 to $51.00 respectively during May of this year.
UBS Group also boosted its price objective on DENTSPLY SIRONA stock, raising it from $43.00 to $46.00 as a significant endorsement of the company’s potential.
According to data obtained via Bloomberg.com, there is currently a consensus “Hold” rating among investment analysts regarding DENTSPLY SIRONA Inc., balanced by two “Buy” ratings.
In conclusion, while Knights of Columbus Asset Advisors LLC has reduced its position in DENTSPLY SIRONA Inc., the positive quarterly earnings report has renewed confidence in the future prospects of this renowned medical instruments supplier within the financial community.
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Increase in Hedge Fund Investments Propels DENTSPLY SIRONA’s Market Position
An Increase in Hedge Fund Investments Boosts DENTSPLY SIRONA’s Market Position
July 20, 2023
DENTSPLY SIRONA Inc., a leading medical instruments supplier, has seen a significant rise in investments from hedge funds and institutional investors. This surge in interest has further solidified the company’s position in the market and attracted a wave of positive sentiment from industry analysts.
Among the notable institutional investors is Quadrant Capital Group LLC, which increased its stake in DENTSPLY SIRONA by an impressive 311.2% during the fourth quarter. As a result, Quadrant now owns 847 shares of the company’s stock, valued at $27,000. Similarly, CI Investments Inc. experienced a 49.3% increase in its stake during the same period, now holding 1,339 shares worth $43,000.
Parkside Financial Bank & Trust also raised its position in DENTSPLY SIRONA by an astounding 163.7% during the first quarter. The bank now owns 915 shares of the company’s stock valued at $46,000. Bessemer Group Inc., on the other hand, boosted its stake by 47%, totaling 1,846 shares worth $59,000.
Additionally, Signaturefd LLC expanded its holdings by 20.8% during the fourth quarter and now possesses 1,973 shares valued at $63,000. These investments collectively highlight growing confidence among hedge funds and other institutions regarding DENTSPLY SIRONA’s future prospects.
Notably, approximately 99.68% of DENTSPLY SIRONA’s stock is currently owned by such entities—a testament to their faith in both the company’s financial stability and potential for growth.
Shares of DENTSPLY SIRONA opened at $40.67 on Thursday—representing steady progress for investors as they continue to show strong support for the stock. The company boasts a quick ratio of 0.93, a current ratio of 1.41, and a favorable debt-to-equity ratio of 0.51.
Over the past year, DENTSPLY SIRONA has displayed impressive performance on the stock market, with its stock trading between $26.48 and $43.24, demonstrating both stability and growth potential.
Throughout this period, research analysts have continuously expressed their positive views on DENTSPLY SIRONA’s trajectory. Morgan Stanley raised its price objective for the company from $39.00 to $45.00 and assigned an “overweight” rating—an endorsement of the company’s promising market position.
StockNews.com also upgraded DENTSPLY SIRONA from a “hold” to a “buy” rating in a research report on Thursday, July 13th—reflecting increasing optimism within the industry about the company’s future performance.
Other firms have similarly demonstrated confidence in DENTSPLY SIRONA—Robert W. Baird increased their price objective from $36.00 to $46.00, while Barrington Research raised their target price from $43.00 to $51.00.
Consequently, according to data from Bloomberg.com, the consensus rating for DENTSPLY SIRONA is currently “Hold,” with an average target price of around $42.13—a testament to analysts’ belief that the stock will perform well in the long run.
The recent announcement of a quarterly dividend by DENTSPLY SIRONA has also attracted investor attention and further bolstered confidence in the company’s financial outlook. The dividend was paid on Friday, July 14th, with investors issued a payment of $0.14 per share.
This represents an increase compared to the previous quarterly dividend of $0.13—an encouraging sign that DENTSPLY SIRONA is prioritizing shareholder value and growth through lucrative dividends.
Furthermore, in recent news, Director Eric Brandt sold 6,200 shares of DENTSPLY SIRONA stock in a transaction valued at $261,454. Following the sale, Brandt now directly owns 44,902 shares of the company’s stock—a sign that even company insiders are benefiting from DENTSPLY SIRONA’s positive momentum.
In conclusion, the impressive influx of investments from hedge funds and institutional investors has ignited a period of confidence and growth for DENTSPLY SIRONA Inc. The continued support from experts and positive financial performance positions the company favorably within its industry. As it moves forward with its strategic initiatives, DENTSPLY SIRONA aims to build on this momentum and deliver value for both shareholders and patients in need of quality medical instruments.