Goldman Sachs Reiterates Buy Rating On Sirona Dental

According to Goldman Sachs, Sirona Dental Systems SIRO announced the authorization of a $100 million share repurchase program, effective immediately and running through September 30, 2014. Goldman Sachs said that this should come as welcome news to investors, given SIRO's underperformance since mid-June (-30%, S&P 500 -14%), as the stock has been caught in a sell-off of names linked to discretionary capital equipment purchases. “We expect shares to react positively tomorrow and reiterate our CL-Buy call as we continue to see SIRO as a dislocated growth story in a healthcare sector where these types of stories are likely to remain scarce.” Sirona Dental Systems closed yesterday at $38.75.