In recent transactions, Gregory T. Lucier, a director at Dentsply Sirona Inc. (NASDAQ:XRAY), purchased shares worth $110,128. On November 15 and November 18, Lucier acquired a total of 6,000 shares of common stock. The purchase prices ranged from $18.2793 to $18.3699 per share. Following these transactions, Lucier's direct and indirect ownership of Dentsply Sirona shares increased to approximately 71,730 shares.
In other recent news, DENTSPLY SIRONA (NASDAQ:XRAY) reported mixed third-quarter financial results. The company's revenue reached $951 million, marking a 1.3% organic sales increase. However, excluding distributor order timing, organic sales declined by 0.8%. DENTSPLY SIRONA also announced the voluntary suspension of sales and marketing for Byte aligners and impression kits due to regulatory reviews, leading to a $500 million non-cash goodwill impairment charge. Despite a decline in EBITDA margins, the company's adjusted earnings per share (EPS) rose by 3% to $0.50, backed by share repurchases.
Furthermore, the company's Essential Dental Solutions segment saw a 7.5% organic growth, while the Orthodontic and Implant Solutions segment experienced a 3.9% decline in organic sales. The Connected Technology Solutions segment also witnessed a 1.4% year-over-year decline, despite growth in CAD/CAM. In light of these developments, DENTSPLY SIRONA revised its full-year 2024 outlook, with organic sales expected to decline by 2.5% to 3.5%.
Notably, the company is undergoing strategic transformation initiatives, including ERP implementations and product portfolio streamlining. Despite facing challenges, DENTSPLY SIRONA remains focused on strategic investments, innovation, and operational efficiency as it navigates the current landscape.
InvestingPro Insights
Gregory T. Lucier's recent purchase of Dentsply Sirona Inc. (NASDAQ:XRAY) shares aligns with several notable trends highlighted by InvestingPro data and tips. The company's stock is currently trading near its 52-week low, with a price that is only 49.12% of its 52-week high. This could suggest that Lucier sees value in the company at current levels.
Despite recent challenges, InvestingPro Tips indicate that Dentsply Sirona has maintained dividend payments for 31 consecutive years and has raised its dividend for 5 consecutive years. The current dividend yield stands at 3.5%, which may be attractive to income-focused investors. Additionally, the company's management has been aggressively buying back shares, potentially signaling confidence in the company's future prospects.
However, it's important to note that Dentsply Sirona's financial performance has been mixed. The company's revenue for the last twelve months as of Q3 2024 was $3.9 billion, with a slight revenue growth of 0.42% in the most recent quarter. While the company was not profitable over the last twelve months, analysts predict that it will return to profitability this year.
For investors considering Dentsply Sirona, it's worth noting that InvestingPro offers 11 additional tips that could provide further insights into the company's financial health and prospects. These additional tips, available on the InvestingPro platform, could be valuable for those looking to make more informed investment decisions regarding XRAY stock.
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