DENTSPLY SIRONA Inc (NASDAQ:XRAY) Increases Dividend to $0.09 Per Share

DENTSPLY SIRONA Inc (NASDAQ:XRAY) declared a quarterly dividend on Wednesday, May 22nd, RTT News reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.0875 per share by the medical instruments supplier on Friday, July 12th. This represents a $0.35 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Thursday, June 27th. This is a positive change from DENTSPLY SIRONA’s previous quarterly dividend of $0.09.

DENTSPLY SIRONA has increased its dividend payment by an average of 7.2% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. DENTSPLY SIRONA has a dividend payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect DENTSPLY SIRONA to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 13.3%.

XRAY traded down $0.20 during midday trading on Friday, reaching $56.77. 636,188 shares of the company’s stock were exchanged, compared to its average volume of 1,818,335. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 2.12 and a beta of 0.96. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.33. DENTSPLY SIRONA has a one year low of $33.93 and a one year high of $57.71.

DENTSPLY SIRONA (NASDAQ:XRAY) last posted its quarterly earnings data on Friday, May 3rd. The medical instruments supplier reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.10. The company had revenue of $946.20 million during the quarter, compared to analyst estimates of $925.13 million. DENTSPLY SIRONA had a negative net margin of 26.48% and a positive return on equity of 8.99%. The company’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. Equities research analysts expect that DENTSPLY SIRONA will post 2.35 EPS for the current fiscal year.

XRAY has been the subject of a number of research reports. Zacks Investment Research raised shares of DENTSPLY SIRONA from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Saturday, March 9th. Bank of America assumed coverage on shares of DENTSPLY SIRONA in a research report on Monday, March 18th. They set a “buy” rating and a $57.00 price target on the stock. BidaskClub cut shares of DENTSPLY SIRONA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 23rd. ValuEngine raised shares of DENTSPLY SIRONA from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Finally, HC Wainwright set a $49.00 price objective on shares of DENTSPLY SIRONA and gave the company a “hold” rating in a research report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $53.62.

In other DENTSPLY SIRONA news, Director Betsy D. Holden bought 2,720 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were purchased at an average price of $55.31 per share, for a total transaction of $150,443.20. Following the transaction, the director now directly owns 9,224 shares in the company, valued at approximately $510,179.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Daniel P. Key bought 3,697 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average price of $54.68 per share, for a total transaction of $202,151.96. Following the transaction, the senior vice president now owns 9,024 shares in the company, valued at $493,432.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 26,417 shares of company stock worth $1,425,395 and have sold 138,922 shares worth $7,631,805. 0.62% of the stock is owned by insiders.

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DENTSPLY SIRONA Inc designs, develops, manufactures, and markets various dental and oral health products, and other consumable healthcare products primarily for the professional dental market worldwide. The company operates in two segments, Technologies & Equipment; and Consumables. Its dental supplies include endodontic instruments and materials, dental anesthetics, prophylaxis pastes, dental sealants, impression materials, restorative materials, tooth whiteners, and topical fluoride products; and small equipment products comprise dental hand pieces, intraoral curing light systems, dental diagnostic systems, and ultrasonic scalers and polishers.

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