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DENTSPLY SIRONA (XRAY) is Facing Turnaround Challenges

Artisan Partners, an investment management company, released its “Artisan Select Equity Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. Its Investor Class: ARTNX returned 10.86%, Advisor Class:  APDNX returned 10.85%, and Institutional Class: APHNX returned 10.91% compared to a 10.56% return for the S&P 500 Index. The US market recorded gains in a quarter that nearly equated to a full year. Almost all the markets around the world did well in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.

Artisan Select Equity Fund highlighted stocks like DENTSPLY SIRONA Inc. (NASDAQ:XRAY), in the first quarter 2024 investor letter. DENTSPLY SIRONA Inc. (NASDAQ:XRAY) is a global manufacturer and distributor of various dental products and technologies. The one-month return of DENTSPLY SIRONA Inc. (NASDAQ:XRAY) was -0.72%, and its shares lost 27.93% of their value over the last 52 weeks. On June 7, 2024, DENTSPLY SIRONA Inc. (NASDAQ:XRAY) stock closed at $27.69 per share with a market capitalization of $5.749 billion.

Artisan Select Equity Fund stated the following regarding DENTSPLY SIRONA Inc. (NASDAQ:XRAY) in its first quarter 2024 investor letter:

“DENTSPLY SIRONA Inc. (NASDAQ:XRAY) declined 5% this quarter. Dentsply is one of the world’s suppliers of consumables and equipment to dentists in the US and internationally. The company has great market positions, and the dental industry is generally a good one. It grows in line with or above GDP and is nicely profitable for most scale suppliers. Dentsply has been undergoing a turnaround under a relatively new management team. Progress has been visible since the team took over, but distortions coming out of the pandemic have created a volatile operating environment for dental businesses. We sold a large part of our holding at higher prices in 2023 and exited the stock this quarter into Henry Schein, another company in the dental industry that we think is a better value and in which we started building a position in Q3 2023.”

A doctor adjusting dental equipment in a modern dental clinic.

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held DENTSPLY SIRONA Inc. (NASDAQ:XRAY) at the end of the first quarter which was 30 in the previous quarter. DENTSPLY SIRONA Inc.’s (NASDAQ:XRAY) organic sales declined 1.9% this quarter, likely due to lower sales in Connected Technology Solutions and Essential Dental Solutions, partly offset by Orthodontic and Implant Solutions and Wellspect HealthCare growth. While we acknowledge the potential of DENTSPLY SIRONA Inc. (NASDAQ:XRAY) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

The best part? You can discover everything about this company and its groundbreaking technology right now.

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Buy This $3 Stock Now Before the 400% Surge Begins

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

My name is Inan Dogan. I’m the co-founder and Research Director of Insider Monkey. I have an important message for you today.

Since March 2017, my stock picks have returned 16.5% annually. Today, I’ve found an opportunity even bigger than my British American Tobacco call.

Two years ago, Wall Street wrote off British American Tobacco (BTI) as a “melting ice cube.” The stock had crashed 40% from its peak, and consensus said the business was dying.

We looked under the cover and realized they were wrong.

We alerted our subscribers, and BTI returned 90% in just 16 months.

Now if you had invested just $10,000 in BTI in June 2024, you’d be sitting on $19,000 in October 2025.

Today, we have identified a nearly identical pattern in a digital-first giant trading at $3.

While the market panics over a surface-level revenue decline, our PhD-led research shows management has actually surgically cut $100 million in waste to focus on high-margin growth.

This pattern is a hallmark of our 16.5% annual return track record. The current opportunity offers a 400% upside potential—dwarfing even our 90% BTI return.

Get the ticker for our new “Underdog” pick and the full BTI case study for just 99 cents.

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