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DENTSPLY (XRAY) Earnings and Revenues Miss Estimates in Q1
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DENTSPLY SIRONA Inc. (XRAY - Free Report) reported adjusted earnings per share (EPS) of 49 cents in the first quarter of 2017, missing the Zacks Consensus Estimate by 2 cents. Earnings were also lower than 69 cents recorded in the year-ago quarter.
Stock Performance
Year to date, DENTSPLY SIRONA shares have increased roughly 13.39% comparing favorably with the Zacks categorized Medical - Dental Supplies’ sub-industry’s addition of 12.08%. The current level is above the S&P 500’s return of 9.07% in the same time frame.
Quarter Details
Net sales increased to $900.5 million from $772.6 million in the year-ago period. However, the figure came below the Zacks Consensus Estimate of $917 million. Sales of the combined businesses decreased 2.2% at constant currency (cc) exchange rates. In the reported quarter, sales were affected by inventory reduction related to a change in the distribution strategy in North America.
In the quarter, U.S. sales surged 12.1% to $313.5 million, while net sales in Europe increased 19.8% to $372.7 million. Sales of the combined business declined 10% at cc in the U.S., while European sales rose 5.3%.
Net sales in Rest of World increased 17.9% to $214.3 million. Sales in Rest of World of the combined businesses fell 2.4% at cc.
DENTSPLY SIRONA Inc. Price, Consensus and EPS Surprise
The business is organized into two reporting segments: Dental & Healthcare Consumables and Technologies.
Dental & Healthcare Consumables comprises preventive, restorative, instruments, endodontic and laboratory dental products, as well as consumable medical device products. Sales increased 4.6% to $511.2 million. At cc, sales of the combined entity rose 2.8% year over year in the quarter.
Technologies consist of dental implants, CAD/CAM systems, imaging systems, treatment centers and orthodontic products. Net sales increased 37.2% to $389.3 million. At cc, sales of the combined business fell 8.1% in the reported quarter.
Financial Update
Total cash and cash equivalents of the company decreased to $363.3 million as of Mar 31, 2017 from $383.9 million as of Dec 31, 2016. Cash generated from operations in the reported period was $82.5 million compared with $0.7 million in the year-ago period. As of Mar 31, 2017, the company’s long-term debt was $1.5 billion flat with year-end 2016.
Guidance
For 2017, the company anticipates adjusted EPS in the range of $2.80 to $2.90.
Zacks Rank & Key Picks
Currently, DENTSPLY carries a Zacks Rank #3 (Hold).
Hologic has a long-term expected earnings growth rate of 11.33%. The stock has a solid one-year return of roughly 32.8%.
Sunshine Heart delivered a positive earnings surprise of 58.24% last quarter. The stock has an impressive EPS growth rate (last 3–5 years of actual earnings) of 22%.
Neovasc has seen a stellar gain of 14% over the last three months. The company projects sales growth of 102.88% for the current year.
Zacks’ Best Private Investment Ideas
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Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
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DENTSPLY (XRAY) Earnings and Revenues Miss Estimates in Q1
DENTSPLY SIRONA Inc. (XRAY - Free Report) reported adjusted earnings per share (EPS) of 49 cents in the first quarter of 2017, missing the Zacks Consensus Estimate by 2 cents. Earnings were also lower than 69 cents recorded in the year-ago quarter.
Stock Performance
Year to date, DENTSPLY SIRONA shares have increased roughly 13.39% comparing favorably with the Zacks categorized Medical - Dental Supplies’ sub-industry’s addition of 12.08%. The current level is above the S&P 500’s return of 9.07% in the same time frame.
Quarter Details
Net sales increased to $900.5 million from $772.6 million in the year-ago period. However, the figure came below the Zacks Consensus Estimate of $917 million. Sales of the combined businesses decreased 2.2% at constant currency (cc) exchange rates. In the reported quarter, sales were affected by inventory reduction related to a change in the distribution strategy in North America.
In the quarter, U.S. sales surged 12.1% to $313.5 million, while net sales in Europe increased 19.8% to $372.7 million. Sales of the combined business declined 10% at cc in the U.S., while European sales rose 5.3%.
Net sales in Rest of World increased 17.9% to $214.3 million. Sales in Rest of World of the combined businesses fell 2.4% at cc.
DENTSPLY SIRONA Inc. Price, Consensus and EPS Surprise
DENTSPLY SIRONA Inc. Price, Consensus and EPS Surprise | DENTSPLY SIRONA Inc. Quote
Segment Details
The business is organized into two reporting segments: Dental & Healthcare Consumables and Technologies.
Dental & Healthcare Consumables comprises preventive, restorative, instruments, endodontic and laboratory dental products, as well as consumable medical device products. Sales increased 4.6% to $511.2 million. At cc, sales of the combined entity rose 2.8% year over year in the quarter.
Technologies consist of dental implants, CAD/CAM systems, imaging systems, treatment centers and orthodontic products. Net sales increased 37.2% to $389.3 million. At cc, sales of the combined business fell 8.1% in the reported quarter.
Financial Update
Total cash and cash equivalents of the company decreased to $363.3 million as of Mar 31, 2017 from $383.9 million as of Dec 31, 2016. Cash generated from operations in the reported period was $82.5 million compared with $0.7 million in the year-ago period. As of Mar 31, 2017, the company’s long-term debt was $1.5 billion flat with year-end 2016.
Guidance
For 2017, the company anticipates adjusted EPS in the range of $2.80 to $2.90.
Zacks Rank & Key Picks
Currently, DENTSPLY carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the broader medical sector include Neovasc Inc. , Hologic, Inc. (HOLX - Free Report) and Sunshine Heart Inc . Neovasc and Hologic sport a Zacks Rank #1 (Strong Buy), while Sunshine Heart holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has a long-term expected earnings growth rate of 11.33%. The stock has a solid one-year return of roughly 32.8%.
Sunshine Heart delivered a positive earnings surprise of 58.24% last quarter. The stock has an impressive EPS growth rate (last 3–5 years of actual earnings) of 22%.
Neovasc has seen a stellar gain of 14% over the last three months. The company projects sales growth of 102.88% for the current year.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>