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Fly News Breaks for June 27, 2016
XRAY
Jun 27, 2016 | 10:11 EDT
Piper Jaffray analyst Matt O'Brien said Dentsply Sirona paid what "may seem" a steep price in buying MIS Implant Technologies for $375M in cash, but he believes this deal makes strategic sense and expects it to be accretive to EPS within the first 12 months. The purchase establishes a value-based platform to compete in one of the fastest growth areas of dentistry and fills a "clear hole" in Dentsply Sirona's portfolio, O'Brien tells investors. The analyst keeps an Overweight rating and $70 price target on Dentsply Sirona shares.
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