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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