BlackRock Cuts Stake in DENTSPLY SIRONA (XRAY)

Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 16.98MM shares of DENTSPLY SIRONA Inc (XRAY). This represents 7.9% of the company.

In their previous filing dated March 9, 2022 they reported 23.75MM shares and 10.90% of the company, a decrease in shares of 28.50% and a decrease in total ownership of 3.00% (calculated as current - previous percent ownership).

Analyst Price Forecast Suggests 10.22% Downside

As of February 3, 2023, the average one-year price target for DENTSPLY SIRONA is $35.61. The forecasts range from a low of $29.29 to a high of $42.00. The average price target represents a decrease of 10.22% from its latest reported closing price of $39.66.

The projected annual revenue for DENTSPLY SIRONA is $3,871MM, a decrease of 4.23%. The projected annual EPS is $1.90.

Fund Sentiment

There are 1065 funds or institutions reporting positions in DENTSPLY SIRONA. This is a decrease of 9 owner(s) or 0.84%.

Average portfolio weight of all funds dedicated to US:XRAY is 0.1586%, a decrease of 8.6047%. Total shares owned by institutions increased in the last three months by 1.62% to 258,054K shares.

What are large shareholders doing?


Artisan Partners Limited Partnership holds 13,229,926 shares representing 6.16% ownership of the company. In it's prior filing, the firm reported owning 12,758,726 shares, representing an increase of 3.56%. The firm decreased its portfolio allocation in XRAY by 14.39% over the last quarter.

Nuance Investments holds 12,549,728 shares representing 5.84% ownership of the company. In it's prior filing, the firm reported owning 9,051,338 shares, representing an increase of 27.88%. The firm increased its portfolio allocation in XRAY by 23.28% over the last quarter.

First Eagle Investment Management holds 9,432,673 shares representing 4.39% ownership of the company. In it's prior filing, the firm reported owning 9,411,081 shares, representing an increase of 0.23%. The firm decreased its portfolio allocation in XRAY by 15.52% over the last quarter.

Janus Henderson Group holds 7,484,903 shares representing 3.48% ownership of the company. In it's prior filing, the firm reported owning 8,799,279 shares, representing a decrease of 17.56%. The firm decreased its portfolio allocation in XRAY by 26.66% over the last quarter.

SGENX - First Eagle Global Fund holds 6,900,950 shares representing 3.21% ownership of the company. No change in the last quarter.

DENTSPLY SIRONA Declares $0.12 Dividend

DENTSPLY SIRONA said on December 15, 2022 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.50 annualized). Shareholders of record as of December 29, 2022 received the payment on January 13, 2023. Previously, the company paid $0.12 per share.

At the current share price of $39.66 / share, the stock's dividend yield is 1.26%. Looking back five years and taking a sample every week, the average dividend yield has been 0.88%, the lowest has been 0.58%, and the highest has been 1.78%. The standard deviation of yields is 0.28 (n=236).

The current dividend yield is 1.33 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -0.13. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.

DENTSPLY Sirona Background Information
(This description is provided by the company.)

Dentsply Sirona is the world's largest manufacturer of professional dental products and technologies, with a 134-year history of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world class brands. As The Dental Solutions Company, Dentsply Sirona's products provide innovative, high-quality and effective solutions to advance patient care and deliver better, safer and faster dentistry.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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