Dentsply Sirona (NDSQ:XRAY) shares dipped today on fourth-quarter results that came up shy of the consensus forecast.
XRAY shares were down more than 7% at $54.49 per share in by later afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down slightly.
The Charlotte, North Carolina–based dental equipment and supplies maker posted profits of $102 million, or 47¢ per share, on sales totaling just shy of $1.1 billion for the three months ended Dec. 31, 2021, for a 3% bottom-line gain on sales growth of 0.5%.
Adjusted to exclude one-time items, earnings per share were 76¢, 3¢ behind expectations on Wall Street, where analysts were looking for sales of $1.13 billion.
“We are optimistic about our future,” Dentsply Sirona CEO Don Casey said in a news release. “We have a healthy innovation pipeline, a well-positioned portfolio, and new strategic partnerships to accelerate our growth. Dental is an attractive market and we will lead transformation in digital dentistry supporting our mission to create innovative solutions for healthy smiles.”
Dentsply Sirona said it expects to log adjusted EPS of between $3.05 and $3.25 for the 2022 fiscal year. The company projects net sales to range between $4.3 billion and $4.4 billion.