DENTSPLY SIRONA Inc. Declares Quarterly Dividend of $0.16 (NASDAQ:XRAY)

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) announced a quarterly dividend on Tuesday, May 27th, RTT News reports. Shareholders of record on Friday, June 27th will be paid a dividend of 0.16 per share by the medical instruments supplier on Friday, July 11th. This represents a $0.64 annualized dividend and a yield of 3.92%.

DENTSPLY SIRONA has raised its dividend payment by an average of 14.2% annually over the last three years and has raised its dividend every year for the last 13 years. DENTSPLY SIRONA has a dividend payout ratio of 31.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DENTSPLY SIRONA to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 33.7%.

DENTSPLY SIRONA Trading Up 5.6%

NASDAQ XRAY traded up $0.87 during trading hours on Tuesday, hitting $16.34. 2,368,514 shares of the company were exchanged, compared to its average volume of 2,966,347. The stock has a 50-day moving average price of $14.47 and a 200 day moving average price of $17.07. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. DENTSPLY SIRONA has a 52 week low of $12.16 and a 52 week high of $28.25. The stock has a market cap of $3.26 billion, a PE ratio of -7.89, a price-to-earnings-growth ratio of 1.80 and a beta of 0.92.

DENTSPLY SIRONA (NASDAQ:XRAY) last announced its earnings results on Thursday, May 8th. The medical instruments supplier reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.14. DENTSPLY SIRONA had a positive return on equity of 12.62% and a negative net margin of 10.59%. The business had revenue of $879.00 million during the quarter, compared to analyst estimates of $854.75 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. Analysts forecast that DENTSPLY SIRONA will post 1.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

XRAY has been the subject of several recent analyst reports. Mizuho dropped their target price on DENTSPLY SIRONA from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Wall Street Zen upgraded DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. UBS Group dropped their target price on DENTSPLY SIRONA from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Robert W. Baird lowered their price target on DENTSPLY SIRONA from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Finally, Piper Sandler lowered their price target on DENTSPLY SIRONA from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, DENTSPLY SIRONA presently has an average rating of “Hold” and an average target price of $20.36.

Insider Transactions at DENTSPLY SIRONA

In related news, Director Gregory T. Lucier purchased 15,142 shares of DENTSPLY SIRONA stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $16.51 per share, with a total value of $249,994.42. Following the transaction, the director now owns 81,971 shares in the company, valued at approximately $1,353,341.21. The trade was a 22.66% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in DENTSPLY SIRONA during the 1st quarter valued at about $26,000. Empowered Funds LLC increased its position in DENTSPLY SIRONA by 8.8% during the 1st quarter. Empowered Funds LLC now owns 16,324 shares of the medical instruments supplier’s stock valued at $244,000 after buying an additional 1,320 shares in the last quarter. Focus Partners Wealth increased its position in DENTSPLY SIRONA by 59.1% during the 1st quarter. Focus Partners Wealth now owns 25,181 shares of the medical instruments supplier’s stock valued at $376,000 after buying an additional 9,355 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in DENTSPLY SIRONA by 7.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 593,021 shares of the medical instruments supplier’s stock valued at $8,860,000 after buying an additional 41,579 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in DENTSPLY SIRONA by 827.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,434,925 shares of the medical instruments supplier’s stock valued at $36,378,000 after buying an additional 2,172,343 shares in the last quarter. 95.70% of the stock is owned by institutional investors.

About DENTSPLY SIRONA

DENTSPLY SIRONA Inc manufactures and sells various dental products and technologies worldwide. It operates in four segments: Connected Technology Solutions, Essential Dental Solutions, Orthodontic and Implant Solutions, and Wellspect Healthcare. The company offers dental equipment comprising imaging equipment, motorized dental handpieces, treatment centers, other instruments, amalgamators, mixing machines, and porcelain furnaces; and dental CAD/CAM technologies to support dental restorations, such as intraoral scanners, 3-D printers, mills, other software and services, and a full-chairside economical restoration of esthetic ceramic dentistry, as well as DS Core, its cloud-based platform.