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

DENTSPLY SIRONA Inc. (NASDAQ:XRAY - Get Free Report) announced a quarterly dividend on Wednesday, May 21st, RTT News reports. Investors 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 dividend yield of 3.99%. The ex-dividend date is Friday, June 27th.

DENTSPLY SIRONA has raised its dividend payment by an average of 14.2% per year 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. 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 Stock Down 1.7%

NASDAQ XRAY traded down $0.28 during trading on Friday, reaching $16.05. The company's stock had a trading volume of 1,234,537 shares, compared to its average volume of 2,964,313. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $3.20 billion, a PE ratio of -7.76, a PEG ratio of 1.80 and a beta of 0.92. DENTSPLY SIRONA has a 1-year low of $12.16 and a 1-year high of $28.25. The business has a 50-day moving average price of $14.51 and a 200-day moving average price of $17.05.

DENTSPLY SIRONA (NASDAQ:XRAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.14. DENTSPLY SIRONA had a negative net margin of 10.59% and a positive return on equity of 12.62%. The firm had revenue of $879.00 million during the quarter, compared to analysts' expectations of $854.75 million. During the same period in the prior year, the company posted $0.42 earnings per share. DENTSPLY SIRONA's revenue for the quarter was down 7.8% on a year-over-year basis. On average, research analysts forecast that DENTSPLY SIRONA will post 1.84 earnings per share for the current fiscal year.

Insider Buying and Selling at DENTSPLY SIRONA

In other DENTSPLY SIRONA news, Director Gregory T. Lucier purchased 15,142 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $16.51 per share, for a total transaction of $249,994.42. Following the completion of the purchase, the director now directly owns 81,971 shares of the company's stock, valued at approximately $1,353,341.21. This represents a 22.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On DENTSPLY SIRONA

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in DENTSPLY SIRONA in the first quarter worth about $26,000. Empowered Funds LLC grew its stake in shares of DENTSPLY SIRONA by 8.8% in the 1st 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. Focus Partners Wealth raised its holdings in shares of DENTSPLY SIRONA by 59.1% in the 1st quarter. Focus Partners Wealth now owns 25,181 shares of the medical instruments supplier's stock worth $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 raised its holdings in shares of DENTSPLY SIRONA by 7.5% in 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 worth $8,860,000 after buying an additional 41,579 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of 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 worth $36,378,000 after buying an additional 2,172,343 shares during the period. 95.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley downgraded DENTSPLY SIRONA from an "overweight" rating to an "equal weight" rating and set a $14.00 price target on the stock. in a report on Tuesday, April 15th. Needham & Company LLC reiterated a "hold" rating on shares of DENTSPLY SIRONA in a report on Thursday, March 13th. Robert W. Baird decreased their price target on shares of DENTSPLY SIRONA from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Piper Sandler lowered their price target on DENTSPLY SIRONA from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Mizuho cut their price objective 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. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, DENTSPLY SIRONA presently has an average rating of "Hold" and an average price target of $20.36.

DENTSPLY SIRONA Company Profile

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.