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XRAY

Dentsply Sirona

$48.41

0.69 (1.45%)

06:34
08/07/18
08/07
06:34
08/07/18
06:34

Dentsply Sirona cuts FY18 adjusted EPS view to $2.00-$2.15, consensus $2.57

"Management expects adjusted EPS for 2018 in the range of $2.00 to 2.15 per diluted share, down from our previous estimate of $2.55 to $2.65. 2018 guidance now assumes an approximately 2% constant currency revenue decline for the full year, down from our previous expectation of 2% constant currency revenue growth. The reduction in our 2018 revenue guidance reflects our lowered second half revenue forecast, partially driven by elevated levels of anticipated inventory destocking at our dealer partners. The reduction in our 2018 EPS guidance reflects the lower revenue expectation and increased margin pressure for the remainder of the year." FY18 revenue consensus $4.17B.

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XRAY Dentsply Sirona
$48.41

0.69 (1.45%)

06/05/18
NRCS
06/05/18
DOWNGRADE
NRCS
Neutral
Dentsply Sirona downgraded to Neutral from Buy at Northcoast
06/05/18
06/05/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ulta Beauty (ULTA) downgraded to Neutral from Buy at Goldman Sachs with analyst Matthew Fassler saying shares have recently recovered, but sales momentum continues to moderate following a deceleration for six consecutive quarters in same-store-sales. 2. Take-Two (TTWO) downgraded to Market Perform from Outperform at BMO Capital with analyst Gerrick Johnson saying he is "concerned" expectations for the Red Dead Redemption 2 release could be overly optimistic and sees a risk to earnings from a potential slowdown in Grand Theft Auto and NBA 2K. 3. Loxo Oncology (LOXO) downgraded to Market Perform from Strong Buy at IFS Securities. 4. Dentsply Sirona (XRAY) downgraded to Neutral from Buy at Northcoast. 5. First Solar (FSLR) downgraded to Neutral from Buy at BofA/Merrill with analyst Julien Dumoulin-Smith saying she expects a "steep" drop in 2018 Chinese solar deployments following China's recent 2018 Solar PV Power Generation Notice, with further declines in 2019/2020 possible. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/18/18
GSCO
07/18/18
NO CHANGE
Target $43
GSCO
Sell
Dentsply Sirona and Patterson Companies guidance at risk, says Goldman Sachs
Goldman Sachs analyst Robert Jones kept his Sell rating on Dentsply Sirona (XRAY) and Patterson Companies (PDCO) while lowering his price target on the former to $43 from $45 and keeping that of the latter at $21. Jones says his Q2 dental survey indicates a "modest softening in consumable purchases and a slightly greater slowdown in equipment spending" reported by U.S. dentists, which puts the guidance of those companies at risk. The survey also revealed that the outlook for dental specialties lik implants and ortho is still more robust, suggesting a mid-single-digit implant market growth rate. The analyst is also positive on Align Technology (ALGN), keeping its Buy rating and raising its price target to $440 from $344 amid the "strong worldwide growth in 'Invisalign' search data" and the continued rollout of iTero in China.
07/20/18
MSCO
07/20/18
NO CHANGE
Target $122
MSCO
Overweight
Danaher creating value with Dental spin off, says Morgan Stanley
Morgan Stanley analyst Steve Beuchaw believes Danaher (DHR) is creating value with its Dental spin off, contending that the move will likely create a "RemainCo" with a faster growing top-line and higher margins, which should support multiple expansion. Investor feedback so far applies a Dentsply Sirona (XRAY) EBITDA multiple on Dental and a Tools industry multiple on the RemainCo, but Beuchaw believes this too conservative. Using his own free cash flow valuation, he could see the RemainCo plus Dental SpinCo being worth $120-$125 per share. Beuchaw raised his price target on Danaher to $122 from $120 and keeps an Overweight rating on the shares.

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AITB

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MU

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AVAV

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BBVA

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KHC

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SPOT

Spotify

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INXN

Interxion

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