Brickwood Asset Management Expands Stake in DENTSPLY SIRONA by 5,515%

Brickwood Asset Management LLP has significantly increased its investment in DENTSPLY SIRONA Inc., raising its holdings by an extraordinary 5,515.8% during the third quarter of 2023. The investment firm acquired an additional 1,496,935 shares, bringing its total ownership to 1,524,074 shares, which now constitutes approximately 14.7% of its investment portfolio. This positions DENTSPLY SIRONA as the fifth largest holding for Brickwood.

As of the latest filing with the Securities and Exchange Commission, Brickwood’s total stake in DENTSPLY SIRONA is valued at $19,340,000. This substantial investment reflects a growing confidence in the medical instruments supplier, whose stock trades under the ticker symbol XRAY on the NASDAQ.

Several other institutional investors have also adjusted their holdings in DENTSPLY SIRONA recently. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. initiated a new position during the first quarter, valued at $26,000. Meanwhile, Parkside Financial Bank & Trust increased its stake by 620.6% in the second quarter, now owning 1,715 shares worth $27,000 after adding 1,477 shares.

Additionally, True Wealth Design LLC raised its holdings by 273.0%, possessing 2,376 shares valued at $38,000. Central Pacific Bank Trust Division doubled its shares to 4,000, valued at $51,000, while Versant Capital Management Inc. bolstered its position by 878.6%, now owning 4,883 shares worth $62,000. Collectively, institutional investors and hedge funds control approximately 95.70% of DENTSPLY SIRONA’s stock.

Market Performance and Future Outlook

DENTSPLY SIRONA’s stock opened at $12.54 on January 5, 2024. The company currently boasts a market capitalization of $2.50 billion and a price-to-earnings (PE) ratio of -2.84, indicating potential volatility. The stock’s performance over the past year has seen a low of $9.85 and a high of $19.27. Analysts are monitoring the company’s future growth closely, especially in light of its recent institutional investments.

The company recently announced a quarterly dividend of $0.16, which was paid on January 9, 2024. Shareholders of record on December 26, 2023, received the dividend, which represents an annualized yield of 5.1%. Despite the positive outlook, DENTSPLY SIRONA’s dividend payout ratio currently stands at -14.48%, reflecting ongoing challenges in profitability.

Insider Selling Activity

In related news, Gregory T. Lucier, a director at DENTSPLY SIRONA, sold 82,200 shares on December 8, 2023, at an average price of $11.14, totaling approximately $915,708.00. This transaction was disclosed in a regulatory filing, which is available for public access.

Corporate insiders currently hold a mere 0.50% of the company, indicating that most shares are held by institutional and retail investors. The company’s strategic direction and future performance remain a focus for analysts and investors alike.

DENTSPLY SIRONA Inc. is headquartered in Charlotte, North Carolina, and operates as a leading global manufacturer of dental products and technologies. Following the merger of Dentsply International and Sirona Dental Systems in February 2016, the company has continued to innovate across various segments, including preventive, restorative, and surgical dental care.

Investors and market watchers will be keen to observe how these changes in shareholder structure and recent financial disclosures will influence DENTSPLY SIRONA’s market performance in the coming quarters.