DENTSPLY SIRONA (XRAY – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 11. Analyst Michael Cherny from Leerink Partners maintained a Hold rating on the stock and has a $21.00 price target.
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Michael Cherny has given his Hold rating due to a combination of factors impacting DENTSPLY SIRONA’s strategic outlook. Despite Wellspect, a segment of the company, showing steady performance with significant contributions to the company’s sales and EBIT, it does not align well with the core dental operations of XRAY. This misalignment has led to a strategic review for Wellspect, which could potentially unlock value if a divestiture occurs.
However, Cherny emphasizes that the main focus for XRAY’s future performance will be on its efforts to rejuvenate its dental business, rather than solely on the potential outcomes of the Wellspect review. The ongoing uncertainty about the strategic direction and near-term outlook of the company, which will be further discussed in the upcoming earnings call, supports maintaining a Hold rating until more clarity is provided.
Based on the recent corporate insider activity of 98 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of XRAY in relation to earlier this year.