DENTSPLY International (XRAY) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 7,004,589 to 5,953,437 shares, with 4 days to go before the expiry. The short open interest has decreased by -15%, amounting to a reduction of -1,051,152 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 2.6% of the float of the company. The average daily volume of the stock is 1,562,306 shares. The short interest information was released on Wednesday Aug 24th after the market close.
DENTSPLY International (NASDAQ:XRAY): The stock opened at $60.20 on Wednesday but the bulls could not build on the opening and the stock topped out at $60.37 for the day. The stock traded down to $59.91 during the day, due to lack of any buying support eventually closed down at $59.97 with a loss of -0.40% for the day. The stock had closed at $60.21 on the previous day. The total traded volume was 1,261,987 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the (Exec VP, Mfg & Supply Chain) of Dentsply Sirona Inc., Berthan Rainer had sold 6,464 shares worth of $404,388 in a transaction dated June 2, 2016. In this transaction, 6,464 shares were sold at $62.56 per share.
DENTSPLY International Inc. is a designer, developer, manufacturer and marketer of a range of consumable dental products for the professional dental market. It operates through three segments: Dental Consumable and Certain International Businesses; Dental Specialty and Laboratory and Certain Global Distribution Businesses, and Healthcare and Emerging Markets Businesses. All the segments are primarily engaged in the design, manufacture and distribution of dental and medical products in four product categories. Its Dental Consumable Products consist of dental supplies and devices and small equipment used in dental offices. Its Dental Laboratory Products are used in the preparation of dental appliances by dental laboratories. Its Dental Specialty Products are specialized treatment products used within the dental office and laboratory settings. Its Consumable Medical Device Products consist mainly of urology catheters, certain surgical products, medical drills and other products.