DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Raises Dividend to $0.14 Per Share

DENTSPLY SIRONA Inc. (NASDAQ:XRAY – Get Rating) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Stockholders of record on Friday, June 30th will be given a dividend of 0.14 per share by the medical instruments supplier on Friday, July 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, June 29th. This is a boost from DENTSPLY SIRONA’s previous quarterly dividend of $0.13.

DENTSPLY SIRONA has increased its dividend by an average of 10.1% per year over the last three years and has raised its dividend every year for the last 12 years. DENTSPLY SIRONA has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect DENTSPLY SIRONA to earn $2.26 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 24.8%.

DENTSPLY SIRONA Stock Down 0.6 %

XRAY opened at $36.91 on Friday. DENTSPLY SIRONA has a fifty-two week low of $26.48 and a fifty-two week high of $43.24. The business has a 50-day moving average of $39.78 and a 200-day moving average of $36.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.41 and a quick ratio of 0.93. The company has a market capitalization of $7.84 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.13 and a beta of 0.91.

DENTSPLY SIRONA (NASDAQ:XRAY – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The medical instruments supplier reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. DENTSPLY SIRONA had a positive return on equity of 8.65% and a negative net margin of 26.41%. The business had revenue of $978.00 million for the quarter, compared to the consensus estimate of $938.16 million. During the same period last year, the business earned $0.52 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that DENTSPLY SIRONA will post 1.91 EPS for the current fiscal year.

Insider Transactions at DENTSPLY SIRONA

In other news, Director Eric Brandt sold 6,200 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $42.17, for a total transaction of $261,454.00. Following the completion of the sale, the director now owns 44,902 shares in the company, valued at $1,893,517.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Cord Friedrich Staehler sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $39.33, for a total transaction of $157,320.00. Following the completion of the sale, the senior vice president now owns 97,693 shares in the company, valued at $3,842,265.69. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eric Brandt sold 6,200 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $42.17, for a total value of $261,454.00. Following the completion of the sale, the director now owns 44,902 shares of the company’s stock, valued at approximately $1,893,517.34. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DENTSPLY SIRONA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XRAY. Parkside Financial Bank & Trust increased its holdings in DENTSPLY SIRONA by 163.7% in the first quarter. Parkside Financial Bank & Trust now owns 915 shares of the medical instruments supplier’s stock valued at $46,000 after purchasing an additional 568 shares during the last quarter. Bessemer Group Inc. increased its holdings in DENTSPLY SIRONA by 47.0% in the fourth quarter. Bessemer Group Inc. now owns 1,846 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 590 shares during the last quarter. Covestor Ltd increased its holdings in DENTSPLY SIRONA by 97.8% in the first quarter. Covestor Ltd now owns 3,198 shares of the medical instruments supplier’s stock valued at $157,000 after purchasing an additional 1,581 shares during the last quarter. Veritable L.P. bought a new stake in DENTSPLY SIRONA in the first quarter valued at about $202,000. Finally, Advisor Partners II LLC bought a new stake in DENTSPLY SIRONA in the first quarter valued at about $203,000. Institutional investors own 98.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley boosted their price target on DENTSPLY SIRONA from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. Robert W. Baird boosted their price target on DENTSPLY SIRONA from $36.00 to $46.00 in a research note on Thursday, May 4th. The Goldman Sachs Group lifted their price objective on DENTSPLY SIRONA from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 1st. TheStreet upgraded DENTSPLY SIRONA from a “d+” rating to a “c” rating in a research report on Tuesday, February 28th. Finally, Piper Sandler lifted their price objective on DENTSPLY SIRONA from $29.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, February 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.13.

DENTSPLY SIRONA Company Profile

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Dentsply Sirona, Inc engages in the design, manufacture, sales and distribution of professional dental products and technologies. It operates through the following segments: Technologies and Equipment and Consumables. The Technologies and Equipment segments comprises dental technology, equipment and healthcare consumable products such as dental implants, laboratory dental products, computer-aided design and computer-aided manufacturing systems, imaging systems, treatment centers and consumable medical device products.