Exploring DENTSPLY SIRONA Inc. (XRAY) Investor Profile: Who’s Buying and Why?

You're looking at DENTSPLY SIRONA Inc. (XRAY) and asking the right question: why is nearly everyone holding, but some of the biggest names are making sharp, opposing moves? The direct takeaway is that while institutional investors own a staggering 95.70% of the float, the stock is currently a battleground between deep-value buyers and those de-risking a complex turnaround story. You see the massive players like Vanguard Group Inc. adding a net 869,566 shares in the third quarter, betting on the new 24-month Return-to-Growth action plan, but then you see BlackRock, Inc. trimming their position by over 250,000 shares, cautious about the near-term volatility.

Honestly, this divergence makes sense when you look at the numbers: the company is projecting full-year 2025 net sales between $3.6 billion and $3.7 billion, but the recent Q3 2025 report showed a GAAP net loss of $427 million, driven by significant non-cash impairment charges. That's a huge loss. So, are the buyers-like Fuller & Thaler Asset Management, Inc., which added 384,247 shares-seeing a massive discount after the stock price dropped over 43% year-over-year, or are the sellers right to worry about the revised full-year adjusted EPS guidance of only about $1.60? We'll break down the specific segments-like the 22.2% drop in U.S. sales versus the 9.9% rise in European sales-to show you defintely who is buying what, and why their conviction is either a smart contrarian play or a classic value trap.

Who Invests in DENTSPLY SIRONA Inc. (XRAY) and Why?

The investor profile for DENTSPLY SIRONA Inc. (XRAY) is a complex mix, reflecting a company navigating a turnaround: it's a classic battleground stock where income investors are drawn to the dividend, but value and growth funds are betting on the new Return-to-Growth strategy to deliver on its $3.6 billion to $3.7 billion fiscal year 2025 revenue guidance. The ownership structure shows a high concentration of institutional money, but the stock's recent volatility means retail investors are also trying to catch the bottom.

Key Investor Types and Ownership Breakdown

Institutional investors-the big players like mutual funds, pension funds, and endowments-dominate the shareholder base, which is typical for a large-cap healthcare equipment company. These institutions hold a significant portion, with some data suggesting they own approximately 31.42% of the stock, while retail investors (individual shareholders) account for about 13.52%. Honestly, that institutional number can swing wildly depending on how you categorize certain funds, but the key takeaway is that the majority of the stock is held by professional money managers.

For context, as of November 2025, executive insider stakes-management and directors-represent a smaller, but still meaningful, 3.40% of the total share count. This group's buying or selling activity is a crucial signal for the market, especially with the recent leadership changes. We're watching for continued insider accumulation as a sign of confidence in the new plan.

Here's a quick snapshot of the primary investor breakdown:

The list of largest institutional shareholders includes heavyweights like Vanguard Group Inc., BlackRock, Inc., and First Eagle Investment Management, LLC. When firms of this size hold a position, it signals a belief in the company's core market position, even when facing near-term operational headwinds.

Investment Motivations: Income, Value, and Turnaround

Investors are drawn to DENTSPLY SIRONA Inc. for three main reasons, and they often clash. First, it's an income play. The company has a history of increasing its dividend for seven consecutive years, which is a strong sign of financial stability. The annual dividend of $0.64 per share translates to a robust dividend yield of around 6.47% as of late 2025, which is highly attractive to income-focused investors and retirees.

Second, it's a value play. The forward-looking price-to-earnings (P/E) ratio of 6.23 suggests the stock might be undervalued relative to its future earnings potential, making it a target for deep value funds. They see the current operational challenges as temporary, a chance to buy a market leader cheap. The analyst consensus price target of $16.00 suggests a potential upside of 27.49% from recent trading levels, which is a powerful incentive for any investor.

Finally, there's the long-term growth story. DENTSPLY SIRONA Inc. is the world's largest diversified manufacturer of professional dental products. Its portfolio, which includes innovative platforms like CEREC (Connected Technology Solutions) and SureSmile (Orthodontic and Implant Solutions), positions it to capitalize on the growing demand for advanced dental technology. This is the bet on the 'Return-to-Growth' action plan, which aims to deliver sustained, profitable growth over the next 24 months. You can read more about the company's foundation here: DENTSPLY SIRONA Inc. (XRAY): History, Ownership, Mission, How It Works & Makes Money.

Investment Strategies in Play

We're seeing three main strategies dominate the trading of DENTSPLY SIRONA Inc. stock right now:

• Long-Term Holding (The 'Moat' Bet): These investors, primarily large institutions, are focused on the company's economic moat-its established market leadership and comprehensive product offering. They are willing to ride out the near-term volatility, betting that the new management team will successfully execute their plan to fix the U.S. business, which saw sales fall 22.2% year-over-year in Q3 2025.
• Value and Turnaround Investing: This strategy is directly tied to the revised fiscal year 2025 adjusted earnings per share (EPS) guidance of approximately $1.60. Investors here are calculating that the stock price has already discounted the bad news-like the Q3 2025 adjusted EPS miss of $0.37 and the non-cash impairment charge of $263 million. They are buying now, believing the stock will re-rate higher as the new strategy takes hold and the company moves toward the higher end of its $3.6 billion to $3.7 billion revenue target. They defintely see the risk, but the reward looks compelling.
• Income Investing: These are the investors who simply want a reliable, high-yield dividend. They are less concerned with short-term price movements and more focused on the quarterly cash flow of $0.16 per share. The dividend is a hard, concrete number that provides a floor for their return, making the stock an attractive alternative to low-yield bonds.

The current environment is a classic case of a solid business facing temporary operational challenges, which creates a split in the investor base. The long-term holders are patient, while the value investors are moving with urgency to capture the upside from the anticipated turnaround.

Institutional Ownership and Major Shareholders of DENTSPLY SIRONA Inc. (XRAY)

You need to know who is buying DENTSPLY SIRONA Inc. (XRAY) and why, because the actions of major institutional investors-the big money-often signal confidence or concern about a company's long-term trajectory. As of late 2025, institutional ownership of DENTSPLY SIRONA is exceptionally high, sitting at approximately 95.70% of the stock, which means these large funds essentially steer the ship.

This level of concentration is typical for a mature healthcare technology company, but it also means any significant move by a top holder can have an outsized impact on the stock price. Honestly, when the big players are this dominant, their sentiment is the market's sentiment.

Top Institutional Investors and Their Shareholdings

The investor profile for DENTSPLY SIRONA is dominated by the passive giants, the index fund managers, and a few active value players. These firms hold massive positions, reflecting the company's place in major indices and the conviction of fundamental investors who see value in the dental equipment market leader.

Here's a quick look at the top institutional holders and their positions based on the most recent filings, generally reflecting data through the third quarter of 2025 (September 30, 2025):

Notice how The Vanguard Group and BlackRock, Inc. lead the pack. This is standard for a large-cap stock, as their index funds must hold the shares to mirror the market. But the presence of active managers like First Eagle and Fuller & Thaler suggests a belief in the firm's turnaround potential, especially as they focus on the company's Mission Statement, Vision, & Core Values of DENTSPLY SIRONA Inc. (XRAY).

Recent Changes in Ownership: A Mixed Signal

The near-term trend in institutional ownership is defintely a mixed bag, which is typical when a company is in the middle of a strategic pivot. Looking at the third quarter 2025 filings, we saw a clear divergence in activity among the top holders:

• Buyers: The Vanguard Group, Inc. increased its stake by 869,566 shares. BlackRock Institutional Trust Company, N.A. added 120,340 shares. This is mostly routine for index funds, but it still adds buying pressure.
• Sellers: AQR Capital Management, LLC significantly reduced its position by 816,405 shares. Cooke & Bieler, L.P. also cut its stake by 631,475 shares.

This tells me that while the passive money is accumulating, some active, quantitative, and value-focused funds are trimming their positions, likely due to the recent performance challenges. For example, the company revised its fiscal year 2025 adjusted earnings per share (EPS) guidance down to approximately $1.60, a clear disappointment that would trigger selling from performance-driven funds.

Impact of Institutional Investors on Stock and Strategy

These large investors play a crucial, dual role: they provide stability, but they also demand performance. With nearly all shares held by institutions, their collective voice is what drives major corporate decisions.

Here's the quick math: The company's total outstanding shares are around 199.29 million. When institutions hold over 95% of that, they have the power to influence board elections, approve mergers, and push for strategic changes. The recent announcement of DENTSPLY SIRONA's 'Return-to-Growth' action plan, unveiled after the Q3 2025 results showed global sales of $904 million (down 5% year-over-year), is a direct response to this institutional pressure.

The institutional focus is now squarely on the execution of this plan, which aims to deliver sustained profitable growth over the next 24 months. If the company fails to hit its revised 2025 net sales guidance of $3.6 billion to $3.7 billion, you can expect the selling pressure from active funds to intensify. Institutional investors are patient, but only up to a point.

Next Step: You should monitor the Q4 2025 13F filings closely in early 2026. Look specifically for whether active managers like First Eagle and AQR continue to sell, or if the initial signs of the 'Return-to-Growth' strategy have convinced them to buy back in.

Key Investors and Their Impact on DENTSPLY SIRONA Inc. (XRAY)

You're looking at DENTSPLY SIRONA Inc. (XRAY) right now because the stock has seen some volatility, and you want to know who is driving the bus-or at least, who owns the most seats. The direct takeaway is that this is overwhelmingly an institutionally-owned stock, with high-conviction moves recently pointing to a split view on the company's turnaround.

Institutional investors and hedge funds own a staggering 95.70% of DENTSPLY SIRONA's shares. This means the decisions of a few hundred large funds, not retail investors, dictate the stock's major movements. We're talking about a total of approximately 255.9 million shares held by these institutions. That's a huge concentration of power.

The Anchor Shareholders: Who Holds the Bulk?

The largest shareholders are exactly who you'd expect: the giants of passive and active asset management. These firms hold massive positions, primarily through index funds and large mutual funds, making them long-term, foundational holders who rarely sell out completely. Their influence is mostly felt in corporate governance (like voting on board members or executive pay), not in day-to-day trading.

• Vanguard Group Inc.: The largest holder, with around 21.9 million shares as of the Q3 2025 filing date.
• BlackRock, Inc.: A close second, holding approximately 19.8 million shares.
• First Eagle Investment Management, LLC: Holds a significant active stake, with about 14.2 million shares.

Here's the quick math: Vanguard and BlackRock alone control a substantial portion of the company. When you see a company with this level of institutional ownership, it's defintely a signal that management must pay close attention to shareholder concerns, especially when performance is shaky.

Investor Influence and the Turnaround Strategy

The investor profile is currently shaping the company's 'Return-to-Growth strategy.' The high institutional ownership means any major strategic decision, like the September 2025 conclusion to retain the Wellspect subsidiary, is heavily scrutinized by these large, sophisticated owners. When the company reported Q3 2025 results-sales of $904 million and a lowered FY 2025 adjusted EPS guidance of approximately $1.60-the stock reacted immediately, dropping significantly. That's investor influence in action. The market's reaction to the lowered guidance shows that their patience is wearing thin, forcing management to take 'decisive action' like the announced CFO departure and the launch of the turnaround plan.

For more on how this ownership structure impacts the company's long-term direction, you can check out DENTSPLY SIRONA Inc. (XRAY): History, Ownership, Mission, How It Works & Makes Money.

Recent Notable Moves: The Bull vs. Bear Divide

The most recent SEC filings (Q2 and Q3 2025) show a clear divergence in opinion among active managers. Some funds are aggressively buying into the weakness, betting on the turnaround, while others are heading for the exit. This split is typical during a company's restructuring phase.

Armistice Capital LLC's massive Q3 2025 increase of over 5.2 million shares is a strong signal of a hedge fund seeing deep value in the stock at its current lows. Conversely, the near-complete exit by NUANCE INVESTMENTS, LLC in Q2 2025 shows a significant loss of conviction in the short-term outlook. This push-and-pull between conviction buyers and outright sellers creates the volatility you are seeing now. The key is to watch whether the buyers or sellers gain the upper hand as the company executes its plan.

Market Impact and Investor Sentiment

If you're looking at DENTSPLY SIRONA Inc. (XRAY) right now, you are seeing a classic disconnect: high institutional commitment meeting poor near-term market sentiment. The big money-the institutional investors-still owns a massive slice of the company, holding approximately 95.70% of the stock as of the latest filings. That's a huge vote of long-term confidence, but the recent stock price action tells a story of deep investor disappointment.

The overall sentiment is currently a cautious 'Hold' from the analyst community, but the market's reaction to the Q3 2025 earnings was defintely negative. The stock hit a new 52-week low of approximately $9.98 in November 2025, reflecting the pain of the year-to-date decline of over 32.7%. This drop wasn't just about the earnings miss-Q3 Adjusted EPS came in at $0.37, missing the consensus of $0.45-but also the revised full-year 2025 guidance. The market hates uncertainty, and a revised Adjusted EPS forecast of just $1.60 for FY 2025, down from the prior range of $1.80-$2.00, is a clear signal of near-term headwinds.

Here's the quick math: the stock is cheap on a forward-looking basis if the company can execute, but the market is clearly pricing in significant execution risk right now. Plus, the recent departure of the CFO in early November 2025 only adds to the short-term volatility and investor caution.

Recent Market Reactions to Ownership Shifts

The institutional ownership picture is complex, showing a mix of conviction and caution. Over the last 12 months, the company saw substantial institutional inflows of about $1.29 billion from 279 buyers, but also significant outflows totaling $638.59 million from 152 sellers. This capital flow suggests a battle between value-focused buyers stepping in at lower prices and growth-focused funds rotating out due to performance issues.

Looking at the largest holders, the picture is nuanced:

• Vanguard Group Inc. increased its stake by 4.114%, holding over 22 million shares as of September 30, 2025.
• Blackrock, Inc., a firm I know well, slightly reduced its position by 1.25%, but still held nearly 20 million shares.

When you see Vanguard adding and Blackrock trimming a bit, it's not a panic signal; it's more of a portfolio rebalancing and a slight difference in conviction on the near-term turnaround timeline. The big takeaway is that the core institutional base remains firmly committed, which is a key support factor for the stock price despite the operational challenges. You can dive deeper into the operational side here: Breaking Down DENTSPLY SIRONA Inc. (XRAY) Financial Health: Key Insights for Investors.

Analyst Perspectives on Key Investors and Future Impact

The analyst community's 'Hold' consensus, based on 14 ratings including 2 Buys, 10 Holds, and 2 Sells, translates into an average price target of $16.08. This target suggests a potential upside of over 52% from the recent low price, which is a huge gap. That gap is the opportunity, but it's also the risk.

The analysts' optimism is largely tied to a few key factors that the major investors are betting on:

The major investors, like Vanguard and Blackrock, are essentially taking a long-term view that the company can stabilize its core dental equipment and consumables business while leveraging the growth in segments like Wellspect. The analysts believe this turnaround will drive FY 2025 net sales to the $3.6 billion to $3.7 billion range. This is a bet on management execution, plain and simple. If the company delivers on its cost-cutting and growth initiatives, the stock's current low valuation-trading at a significant discount to the analyst consensus target-will correct itself.