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

DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Get Free Report) declared a quarterly dividend on Wednesday, May 21st, RTT News reports. Stockholders of record on Friday, June 27th will be given a dividend of 0.16 per share by the medical instruments supplier on Friday, July 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Friday, June 27th.

DENTSPLY SIRONA has increased its dividend 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 payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 1.9%

NASDAQ XRAY traded down $0.31 on Friday, reaching $16.02. 3,815,637 shares of the stock traded hands, compared to its average volume of 2,966,803. DENTSPLY SIRONA has a 12 month low of $12.16 and a 12 month high of $28.25. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -7.74, a PEG ratio of 1.80 and a beta of 0.92. The company has a fifty day moving average price of $14.52 and a 200-day moving average price of $17.03. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.84 and a current ratio of 1.25.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $0.43 earnings per share 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 firm had revenue of $879.00 million during the quarter, compared to the consensus estimate of $854.75 million. During the same period in the previous year, the company posted $0.42 earnings per share. The firm's quarterly revenue was down 7.8% on a year-over-year basis. As a group, research analysts forecast that DENTSPLY SIRONA will post 1.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 price objective on the stock. in a research note on Tuesday, April 15th. Robert W. Baird dropped their price objective on shares of DENTSPLY SIRONA from $22.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Mizuho dropped their price objective on shares of DENTSPLY SIRONA from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Wall Street Zen upgraded shares of DENTSPLY SIRONA from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Barrington Research increased their price target on shares of DENTSPLY SIRONA from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.36.

Insider Activity

In related news, Director Gregory T. Lucier purchased 15,142 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $16.51 per share, with a total value of $249,994.42. Following the completion of the acquisition, the director now owns 81,971 shares in the company, valued at approximately $1,353,341.21. This represents a 22.66% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company's stock.

Institutional Trading of DENTSPLY SIRONA

Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in DENTSPLY SIRONA during the 1st quarter valued at approximately $26,000. Goldman Sachs Group Inc. raised its holdings in shares of DENTSPLY SIRONA by 827.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,434,925 shares of the medical instruments supplier's stock worth $36,378,000 after purchasing an additional 2,172,343 shares during the last quarter. Empowered Funds LLC lifted its position in DENTSPLY SIRONA by 8.8% during the first quarter. Empowered Funds LLC now owns 16,324 shares of the medical instruments supplier's stock valued at $244,000 after purchasing an additional 1,320 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in DENTSPLY SIRONA by 7.5% in the first 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 purchasing an additional 41,579 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in DENTSPLY SIRONA by 59.1% in the first quarter. Focus Partners Wealth now owns 25,181 shares of the medical instruments supplier's stock valued at $376,000 after purchasing an additional 9,355 shares during the last quarter. Hedge funds and other institutional investors own 95.70% of the company's stock.

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.