The offer works out to be $98.60 per share.

The stock issuance in the merger is expected to be tax-free to shareholders of both companies. The deal value is based on average trading prices for each company over the past month, the companies said. The 50-day moving average is $54.1 and the 200 day moving average is recorded at $52.41. The brokerage firm has raised the Price Target to $70 from a previous price target of $56. Stone Run Capital Llc is another bull as the institutional investor who is having 87,865 shares of Dentsply worldwide or 2.97% of their fund’s portfolio. The 52-week high of the share price is $57.6123 and the 52-week low is $43.83.

According to data compiled by Thomson Reuters, Dentsply worldwide (NASDAQ:XRAY)’s stock is covered by 7 equity analysts across the Street, with 1 analysts giving it a Sell rating, 3 a Buy rating, while 9 consider it a Hold.

Dentsply shareholders will own 58 percent of the combined company.

DENTSPLY global Inc. (NASDAQ:XRAY): On Tuesday heightened volatility was witnessed in DENTSPLY worldwide Inc. The shares have outperformed the S&P 500 by 0.63% in the past week but underperformed the index by 1.23% in the last 4 weeks. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. This corresponds to a decrease of $0.01 compared to the same quarter of the previous fiscal year. The dividend growth rate has evolved at the pace of 8.5% over the last 5 years and the payout ratio stands at 14.84%.

Dentsply worldwide is buying competitor Sirona Dental Systems for about $5.51 billion in a deal the companies say will create the biggest maker of professional dental products and materials in the world. The Company operates in four segments, all of which are primarily engaged in the design, manufacture and distribution of dental products in four principal categories: dental consumables, dental laboratory products, dental specialty products and consumable medical device products.