| Tuesday | ||||
Piper Sandler analyst… Piper Sandler analyst Jason Bednar assumed coverage of Patterson Companies (PDCO) with a Neutral rating and $22 price target. The analyst has "several" dental demand concerns in a post-COVID environment and is worried that management may have "largely tapped out its creative sources of cash generation in recent years." He sees a better risk/reward profile in shares of Dentsply Sirona (XRAY). | ||||
| Over a week ago | ||||
Piper Sandler analyst… Piper Sandler analyst Jason Bednar notes that a new 510(k) for Dentsply Sirona's "Axeos" system was posted Monday morning to the FDA's database. The analyst says he has confirmed with management that Axeos is a new, large field-of-view 3D imaging system, though additional details on the system are currently limited. The analyst is hopeful the system will fill a void in the company's imaging portfolio int he large FOV category. | ||||
Dentsply Sirona announced… Dentsply Sirona announced that on Tuesday, June 23rd, the United States District Court for the District of New Mexico, in a ruling by Judge Joseph Bataillon, held that EdgeTaper Encore endodontic files sold by US Endodontics and Edge Endo infringe at least three valid claims of patents asserted by Dentsply Sirona Inc. Judge Bataillon granted Dentsply Sirona's motion for summary judgment that each of the three patent claims were infringed by EdgeTaper Encore and that Dentsply Sirona's three patent claims are valid. The Court also rejected Edge's request to dismiss Dentsply Sirona's claim that Edge's infringement was willful. A finding of willful infringement allows the Court to award treble damages and attorneys' fees against an adjudicated infringer. Dentsply Sirona's case against Edge and US Endo is scheduled for trial before a jury in Albuquerque, New Mexico beginning on August 17. At issue will be Dentsply Sirona's claims for willful infringement and damages with respect to the three claims that have already been held valid and infringed, as well as Dentsply Sirona's assertion of infringement with respect to additional patent claims. | ||||
Piper Sandler analyst… Piper Sandler analyst Jason Bednar initiated coverage of Dentsply Sirona with an Overweight rating and $51 price target. The analyst is concerned "pandemic damage" to the structural support of the dental market combined with growing secular headwinds could make for a protracted recovery in dental procedure demand. However, Bednar likes Dentsply's chances of navigating the current environment better than others given its "diverse and market-leading" product portfolio and clear aligner platform in SureSmile that "should gain increased traction over time." This is a dental name investors should own, says the analyst. | ||||
H.C. Wainwright analyst… H.C. Wainwright analyst Yi Chen raised the firm's price target on Dentsply Sirona to $50 from $38 and keeps a Neutral rating on the shares. The analyst believes sales of dental equipments and consumables should start to recover in Q3, but that the overall volume and amount may not return to pre-COVID levels in the near term. | ||||
| Over a month ago | ||||
Life Science Tools &… Life Science Tools & Diagnostics Peterson holds a conference call with CEO Casey on June 4 at 10 am hosted by JPMorgan. | ||||
Catch up on today's… Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Jack in the Box (JACK) upgraded to Neutral from Sell at Goldman Sachs with analyst Katherine Fogertey citing evidence of the company's same-store-sales momentum and improving franchise economics, which she believes can re-accelerate its unit growth beyond flat currently expected in 2020. 2. Hibbett Sports (HIBB) upgraded to Positive from Neutral at Susquehanna with analyst Sam Poser citing its exceptional execution and operational discipline which he sees continuing for the foreseeable future. 3. NIO Inc. (NIO) upgraded to Neutral from Underweight at JPMorgan. 4. AMC Entertainment (AMC) upgraded to Neutral from Sell at MKM Partners with analyst Eric Handler saying the near-term bankruptcy risk has subsided with an increasing likelihood that movie theaters in the U.S. and Europe will be able to re-open with new content in the July-August time frame. 5. Dentsply Sirona (XRAY) upgraded to Outperform from In Line at Evercore ISI. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. | ||||
Evercore ISI analyst… Evercore ISI analyst Elizabeth Anderson upgraded Dentsply Sirona to Outperform from In Line with a $50 price target. | ||||
Barrington analyst… Barrington analyst Michael Petusky downgraded Dentsply Sirona to Market Perform from Outperform without a price target. While the shares are well off 52-week highs, they are 28% off their March lows and do not appear cheap enough to compensate for the level of uncertainty now present in the dental space, Petusky tells investors in a research note. The analyst sees easier ways to yield returns in 2020 and 2021. | ||||