Read Why HC Wainwright Cut Price Target For Dentsply Sirona

  • HC Wainwright has cut the price target for Dentsply Sirona Inc XRAY from $58 to $48 (17% upside), reiterating the Neutral rating.
  • The analysts have adjusted 2022 projections to reflect lower than expected Q1 FY22 earnings.
  • Management noted that the results reflect weaker sales performance in the U.S., global supply chain challenges, and foreign exchange headwinds.
  • HC Wainwright's estimated adjusted EPS (from 1Q22 to 4Q22) drops to $2.62 from $3.14, and the 2022 revenue projection decreases to $4.153 billion from $4.356 billion.
  • Earlier this week, the company also appointed John Groetelaars, who serves on the Company's Board, as Interim Chief Executive Officer and initiated a search to identify the next CEO. 
  • The Board has also appointed Barbara Bodem as Interim Chief Financial Officer, effective upon Jorge Gomez's previously announced departure on May 6, 2022. 
  • "In our view, a new management team may have the potential to help the Company resume organic sales growth later this year," the analysts tell investors.
  • Price Action: XRAY shares are down 2.38% at $41.09 during the market session on the last check Friday.
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