Leerink Partners analyst Michael Cherny has maintained their bullish stance on XRAY stock, giving a Buy rating yesterday.
Michael Cherny has given his Buy rating due to a combination of factors including DENTSPLY SIRONA’s fourth-quarter revenue performance and forward-looking guidance. Despite the general downturn in dental market sentiment, DENTSPLY SIRONA’s fourth-quarter earnings outperformed expectations, with significant contributions coming from the Orthodontics & Implant Solutions and Wellspect segments. This outperformance is particularly noteworthy given the softer results in Equipment & Instruments, which were anticipated based on peer company performances. Cherny views the company’s guidance for fiscal year 2024 as a positive sign, aligning with consensus estimates and setting a foundation for future earnings growth.
The detailed financial results support Cherny’s optimism, as DENTSPLY SIRONA’s revenue exceeded both Leerink Partners’ and Visible Alpha consensus estimates, with adjusted EBITDA and EPS also showing strong results. The company’s FY24 EPS guidance suggests a healthy year-over-year growth, and while it came in slightly below Leerink Partners’ more aggressive estimates, it was still in line with the broader market consensus. The commitment to R&D investment and the guidance on adjusted EBITDA margin further underpin the company’s stable financial outlook. Cherny’s recommendation reflects confidence in the company’s strategic direction and its ability to maintain profitability amidst a challenging industry landscape.
In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $42.00 price target.
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DENTSPLY SIRONA (XRAY) Company Description:
DENTSPLY SIRONA, Inc. engages in the design, manufacture, sales, and distribution of professional dental products and technologies. It operates through the Technologies and Equipment, and Consumables segments. 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. The Consumables segment offers preventive, restorative, instruments, endodontic, and orthodontic dental products. The company was founded in 2016 and is headquartered in York, PA.
Read More on XRAY:
- DENTSPLY SIRONA Announces Board Member’s Upcoming Departure
- Dentsply Sirona Announces Retirement of Eric K. Brandt from the Board of Directors
- Dentsply Sirona Reports Fourth Quarter and Full Year 2023 Results, Provides Full Year 2024 Outlook, Raises Dividend
- Notable companies reporting before tomorrow’s open
- DENTSPLY SIRONA (XRAY) Q4 Earnings Cheat Sheet
