Dentsply Sirona downgraded to Market Perform from Outperform at William Blair

William Blair downgraded Dentsply Sirona (XRAY) to Market Perform from Outperform. Sales were in line and EPS were 8c below the Street due to lower volumes, worse mix, and tariffs, leading FY guidance to be lowered to incorporate these headwinds, the analyst tells investors in a research note. The firm added that the combination of worse-than-expected results, lowered guidance, and another CFO transition has led shares to trade down more than 10%, with the analyst noting another 12-24 month turnaround process is starting. The firm believes any turnaround under Scavilla, while possible, will be a bigger lift than originally anticipated, which will limit share upside.