Dentsply Sirona Inc. (NASDAQ:XRAY) recently reported a notable transaction involving its President, CEO, and Board Member, Simon D. Campion. According to a filing with the Securities and Exchange Commission, Campion acquired 11,306 shares of Dentsply Sirona common stock on November 12, 2024. The shares were purchased at a weighted average price of $17.7199, with prices ranging from $17.695 to $17.73. This acquisition represents a total investment of $200,341. Following this transaction, Campion's direct ownership in the company stands at 272,247 shares.
In other recent news, DENTSPLY SIRONA (NASDAQ:XRAY) reported a mix of developments in its third-quarter financial results. The company's revenue reached $951 million, marking a modest 1.3% increase in organic sales. However, excluding distributor orders, the company saw a slight decline in organic sales by 0.8%. DENTSPLY SIRONA voluntarily suspended sales and marketing of Byte aligners and impression kits, leading to a $500 million non-cash goodwill impairment charge. Despite these challenges, the company's adjusted earnings per share (EPS) rose by 3% to $0.50, largely due to share repurchases.
In terms of segments, the Essential Dental Solutions segment reported a 7.5% organic sales growth, while the Orthodontic and Implant Solutions and Connected Technology Solutions segments experienced a decline. The company revised its full-year 2024 outlook, expecting a 2.5% to 3.5% decline in organic sales.
These recent developments reflect DENTSPLY SIRONA's resilience amid market challenges. The company continues to focus on strategic transformation initiatives, including ERP implementations, product portfolio streamlining, and efforts to enhance customer engagement across product lines.
InvestingPro Insights
Simon D. Campion's recent purchase of Dentsply Sirona shares aligns with several key insights from InvestingPro. The company's stock has experienced significant pressure recently, with InvestingPro data showing a 25.9% decline in the past week and a 27.56% drop over the last month. This downturn has pushed the stock near its 52-week low, as indicated by an InvestingPro Tip.
Despite these challenges, Dentsply Sirona maintains a strong dividend profile. The company boasts a dividend yield of 3.6% and has raised its dividend for 5 consecutive years, according to InvestingPro Tips. This commitment to shareholder returns is further underscored by management's aggressive share buyback program, another InvestingPro Tip that suggests confidence in the company's long-term prospects.
While the company's P/E ratio stands at a high 100.7 for the last twelve months as of Q3 2024, analysts expect Dentsply Sirona to return to profitability this year. This optimism is reflected in the InvestingPro Tip noting that net income is expected to grow this year.
For investors seeking more comprehensive analysis, InvestingPro offers 12 additional tips for Dentsply Sirona, providing a deeper understanding of the company's financial health and market position.
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