Dentsply Sirona slumps on annual forecast cut

DENTSPLY SIRONA

02/11/2023 12:36

** Shares of dental product manufacturer Dentsply Sirona
 XRAY.O  fall 10.9% to $27.45 premarket
    ** Co now expects FY23 revenue between $3.90 bln and $3.94
bln, down from previous forecast of $3.98 bln to $4.02 bln;
analysts estimate annual revenue to be $4 bln
    ** Co also cuts FY adj eps forecast range to $1.80 and
$1.85, from $$1.92 to $2.02; updated profit range below Wall
Street view of $1.98/share 
    ** Co also expects to repurchase $150 million of its common
stock in Q4 2023
    ** Five of 14 brokerages rate stock "buy" or higher, nine
"hold"; median PT is $42.50
    ** Up to Wednesday's close, stock down 3.1% YTD

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))