Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- DENTSPLY International Inc (NASDAQ: XRAY) shares are down 7.24 percent since August 18, when they touched a high of $57.45.
- Baird’s Jeff D. Johnson upgraded the rating on the company to Outperform, while raising the price target from $58 to $61.
- Terming the planned deal as a merger of equals, Johnson said he expects it to have a positive long-term impact.
Analyst Jeff Johnson mentioned that the planned merger of DENTSPLY International and Sirona Dental Systems, Inc. (NASDAQ: SIRO) looks disappointing on the face of it. The merger is, however, expected to result in solid cash flows, increased balance sheet optionality and longer-term potential access to DSOs for Sirona over the longer term.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Terming the proposed deal as a merger of equals, Johnson said that it made sense, as the deal would provide DENTSPLY access to digital technology while offering Sirona a chance to dampen its cyclicality, besides better offering access to its “OUS cash flow.”
Johnson believes that the deal will position the merged entity strongly by offering numerous cross-selling opportunities by blurring the lines between dental consumables and equipment. The merger is also expected to result in greater balance sheet optionality, as free cash flows are expected to exceed $600-$700 million by 2017.
Moreover, access to cash for debt pay-down or share repurchases becomes easier, the Baird report noted. DENTSPLY’s growing capabilities to curtail costs and the EBIT synergies from the merger are expected to lead to consistent margin performance by the merged entity, Johnson added.
“We see a combined mid-single-digit revenue/low double-digit EPS grower going forward in Dentsply Sirona, with potential upside to both with additional deals and/or balance sheet utilization. While maybe not eye-popping numbers, we believe such growth and presumed consistency should make XRAY a core medtech holding over time,” Johnson commented.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.