DENTSPLY SIRONA Inc. (NASDAQ:XRAY) to Issue Dividend Increase – $0.14 Per Share

DENTSPLY SIRONA Inc. (NASDAQ:XRAY – Get Rating) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Investors of record on Friday, June 30th will be paid 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 yield of 1.52%. The ex-dividend date is Thursday, June 29th. This is a positive change 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. 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 %

Shares of NASDAQ:XRAY opened at $36.91 on Friday. The stock has a market cap of $7.84 billion, a P/E ratio of 13.91, a P/E/G ratio of 2.13 and a beta of 0.91. The firm has a fifty day moving average price of $39.78 and a 200 day moving average price 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. DENTSPLY SIRONA has a 1-year low of $26.48 and a 1-year high of $43.24.

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

Insider Buying and Selling at DENTSPLY SIRONA

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

Institutional Investors Weigh In On DENTSPLY SIRONA

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of DENTSPLY SIRONA by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 24,732,513 shares of the medical instruments supplier’s stock worth $701,167,000 after purchasing an additional 297,487 shares during the last quarter. Morgan Stanley boosted its position in shares of DENTSPLY SIRONA by 2.4% in the fourth quarter. Morgan Stanley now owns 8,692,375 shares of the medical instruments supplier’s stock worth $276,765,000 after acquiring an additional 205,096 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of DENTSPLY SIRONA by 18.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,802,326 shares of the medical instruments supplier’s stock worth $306,476,000 after acquiring an additional 1,224,984 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of DENTSPLY SIRONA by 83.1% in the first quarter. Wellington Management Group LLP now owns 5,502,424 shares of the medical instruments supplier’s stock worth $270,829,000 after acquiring an additional 2,497,773 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in DENTSPLY SIRONA by 25.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,083,334 shares of the medical instruments supplier’s stock worth $161,854,000 after buying an additional 1,030,275 shares during the period. 98.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on XRAY. TheStreet upgraded shares of DENTSPLY SIRONA from a “d+” rating to a “c” rating in a research report on Tuesday, February 28th. Barrington Research upped their price objective on shares of DENTSPLY SIRONA from $43.00 to $51.00 in a research report on Thursday, May 4th. Morgan Stanley upped their price objective on shares of DENTSPLY SIRONA from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 19th. Stifel Nicolaus upped their price objective on shares of DENTSPLY SIRONA from $37.00 to $41.00 in a research report on Thursday, May 4th. Finally, Piper Sandler upped their price objective on shares of DENTSPLY SIRONA from $29.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.