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Dentsply Sirona Retains Wellspect Following Strategic Review

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Key Takeaways

  • XRAY's review concluded that retaining Wellspect offers more value than a sale.
  • XRAY concludes that Wellspect leads in continence care with steady growth and strong cash flows.
  • Wellspect's $2B market and pipeline back XRAY's long-term profitability strategy.

Dentsply Sirona (XRAY - Free Report) recently concluded that retaining the Wellspect business portfolio is likely to create more value for its stockholders compared to other strategic alternatives. CEO Dan Scavilla emphasized that, after a comprehensive strategic review, retaining Wellspect “will deliver greater financial and strategic benefits to stockholders than the other options available.”

The board believes Wellspect’s long-term upside – driven by its leading position in continence care – outweighs any immediate gains from a sale. This decision aligns with Dentsply Sirona’s commitment to driving “long-term value” for shareholders while continuing to focus on its core dental business.

Likely Share Price Performance

Shares of Dentsply Sirona lost 2.1% on Sep. 9, following the announcement of the strategic review result. The company’s shares have lost 26.7% so far this year compared with the industry’s decline of 1.7%. The S&P 500 Index has gained 11% in the same time period.

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However, Dentsply Sirona’s decision to retain Wellspect underscores confidence in its growth potential and strong cash flows. Despite recent sales softness, Wellspect’s market leadership, product pipeline, and $2 billion addressable market position it as a long-term value driver, supporting XRAY’s strategy to deliver durable, profitable growth and enhanced shareholder returns.

Wellspect’s Growth and Cash Flow Strength

Wellspect is a category leader in bladder and bowel care, with a strong product pipeline and significant untapped market potential. Management highlights that investments in Wellspect are already yielding results. The unit delivered solid organic sales growth in recent years — mid-to-high single digits in 2023 and mid-single-digit growth in 2024. These gains reflect its $2???billion addressable market and innovative products (e.g. LoFric catheters).

Importantly, Scavilla noted that Wellspect has the potential to continue to generate strong cash flow going forward. The company plans to invest these cash flows back into innovation and its business, consistent with a strategy of “durable, profitable growth” across the XRAY portfolio. In a nutshell, Wellspect’s runway of growth, backed by recurring cash flows, reinforces why management views it as a key enabler of the company’s transformation plan.

Performance Trends and Long-Term Outlook

Wellspect’s recent sales have seen a short-term pause, but the underlying trend remains positive. In the second quarter of 2025, Wellspect sales fell about 2.5% year over year (constant currency), largely due to a prior-year dealer stocking order (nearly 4.5% drag). New product launches have since offset much of this, and management continues to expect mid-single-digit growth for the full year. Thus, the near-term decline reflects inventory timing rather than a fundamental market slowdown.

By retaining Wellspect, Dentsply Sirona secures these future growth streams. As CFO Matt Garth noted, the company is focused on generating “sustainably high levels of free cash flow” through disciplined operations. Keeping Wellspect in-house preserves an established cash-generating business, which can strengthen XRAY’s long-term financial profile by funding R&D and shareholder returns. In short, management’s strategic rationale is that Wellspect’s proven growth and cash???flow potential will amplify Dentsply Sirona’s long-term profitability and shareholder value.

XRAY’s Zacks Rank & Stocks to Consider

XRAY presently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are West Pharmaceutical Services, Inc. (WST - Free Report) , Medpace Holdings, Inc. (MEDP - Free Report) and Envista (NVST - Free Report) .

West Pharmaceutical reported second-quarter 2025 adjusted EPS of $1.84, which beat the Zacks Consensus Estimate by 21.9%. Revenues of $766.5 million surpassed the Zacks Consensus Estimate by 5.4%. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

West Pharmaceutical has a long-term estimated growth rate of 8.5%. WST’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.

Medpace Holdings, sporting a Zacks Rank of 1, reported second-quarter 2025 EPS of $3.10, which beat the Zacks Consensus Estimate by 3.3%. Revenues of $603.3 million outpaced the consensus mark by 11.5%.

Medpace Holdings has a long-term estimated growth rate of 11.4%. MEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.9%.

Envista reported second-quarter 2025 adjusted EPS of 26 cents, which beat the Zacks Consensus Estimate by 8.3%. Revenues of $682 million surpassed the Zacks Consensus Estimate by 6.3%. It currently carries a Zacks Rank #2 (Buy).

Envista has a long-term estimated growth rate of 16.8%. NVST’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.50%.

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