Dentsply Sirona announces $150M accelerated share repurchase

Dentsply Sirona (Nasdaq: XRAY) said today that it has entered into an accelerated share repurchase agreement with Bank of America, National Association to repurchase $150 million of its common stock.

The agreement will be completed under Dentsply Sirona’s present share repurchase authorization.

The accelerated share repurchase agreement has Dentsply Sirona initially receiving delivery of roughly 2.4 million shares.

The final number of shares repurchased will be based on the average daily volume-weighted average stock prices of the company’s common stock during the valuation period of the agreement, less a discount and subject to adjustments.

The final settlement of the accelerated share repurchase agreement is expected to be completed before the end of Q2 2022, subject to acceleration.

Dentsply Sirona (Charlotte, North Carolina) is a major manufacturer of professional dental products and technologies.

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Dentsply Sirona slides as Q4 earnings miss Wall Street expectations

Dentsply Sirona (NDSQ:XRAY) shares dipped this morning on fourth-quarter results that came up shy of the consensus forecast.

XRAY shares were down 7.3% at $54.40 per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down 0.5%.

The Charlotte, North Carolina-based company 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.…

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Medtech M&A: The industry’s biggest mergers and acquisitions of 2021

[Image from Jp Valery on Unsplash]

Across 2021, medtech has seen a wide range of mergers and acquisitions covering several areas of devices, pharmaceuticals and more.

Some have gone off without a hitch, while others fell into serious scrutiny as mouthwatering financial figures were revealed and major technologies were acquired.

Here are the 10 biggest mergers and acquisitions in medtech in 2021:

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Dentsply Sirona beats The Street in Q3 results

Dentsply Sirona (NSDQ:XRAY) posted third-quarter results this week that beat the overall consensus on Wall Street.

The Charlotte, N.C.-based company reported profits of $103 million, or 47¢ per share, on sales of $1.07 billion for the three months ended September 30, for a bottom-line gain of 94.3% on sales growth of 19.44% compared with Q3 2020.

Adjusted to exclude one-time items, earnings per share were 68¢, 3¢ ahead of The Street where analysts were looking for sales of $1.03 billion.

“In the third quarter, we delivered strong results in an environment still impacted by the pandemic. Organic sales grew over 21%, driven by continued recovery in the dental market and robust demand from our recent product launches. Our teams have also done a commendable job navigating supply chain bottlenecks to deliver products to our customers,” CEO Don Casey said in a news release. “In the quarter, we continued to accelerate investments in new products and…

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Conformis slides on Street-beating Q2 results

Dentsply Sirona (NSDQ:XRAY) posted second-quarter results today that beat the overall consensus on Wall Street.

The Charlotte, N.C.-based company reported profits of $99 million, or 45¢ per share, on sales of $1.07 billion for the three months ended June 30 for a sales growth of 117.31% compared with Q2 2020.

Adjusted to exclude one-time items, earnings per share were 71¢, 6¢ ahead of The Street, where analysts were looking for sales of $1.01 billion.

“Our second-quarter performance closes out a strong first half of the fiscal year,” CEO Don Casey said in a news release. “Our financial results reflect the resilience of the dental market and demonstrate our team’s ability to execute operationally and financially. As we turn our attention to investing for future growth, we are confident that the underlying fundamentals of our business are strong and that we are well-positioned. Additionally, we remain committed to completing our restructu…

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Dentsply Sirona beats The Street in Q1 results, raises guidance

Dentsply Sirona (NSDQ:XRAY) posted first-quarter results today that beat the overall consensus on Wall Street.

The Charlotte, N.C.-based company reported profits of $117 million, or 53¢ per share, on sales of $1.027 billion for the three months ended March 31, for a sales growth of 17.5% compared with Q1 2020.

Adjusted to exclude one-time items, earnings per share were 72¢, 16¢ ahead of The Street, where analysts were looking for sales of $948.7 million.

“We are pleased with our strong first-quarter performance. The global dental market has demonstrated resilience with attractive underlying fundamentals. As a result, we are cautiously optimistic about the continued recovery in the category. We remain committed to executing on our restructuring goals while increasing focus on investing for revenue growth. Our revised 2021 outlook reflects confidence in our team’s ability to execute on growth initiatives and capitalize on the recovery,” CEO Don…

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8 medical device companies that beat the COVID-19 pandemic and prospered

[Image from unsplash.com]Some medical device businesses not only survived the COVID-19 pandemic but actually thrived — with many producing the medtech needed to fight the coronavirus’s spread.

Medical Design & Outsourcing recently analyzed financials for 20 of the largest medical device businesses in the world. Not only was revenue only slightly down for the 20 during 2020, but it was actually up for eight of the 20 companies.

For many of the eight companies that saw sales increase, there was a common theme: They pivoted their focus to the diagnostics imaging and personal protective equipment needed to against COVID-19.

“We had different kinds of companies that were able to benefit on some level from COVID and shutdowns,” Richard Newitter, senior research analyst at SVB Leerink, told MDO.

Overall, medtech sales declined in Q1 and Q2 but then bounced back in a V-shaped recovery for the rest of the year, according to Newitter “It plateaued and actu…

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8 medical device companies that beat the COVID-19 pandemic and prospered

[Image from unsplash.com]

Some medical device businesses not only survived the COVID-19 pandemic but actually thrived — with many producing the medtech needed to fight the coronavirus’s spread.

Medical Design & Outsourcing recently analyzed financials for 20 of the largest medical device businesses in the world. Not only was revenue only slightly down for the 20 during 2020, but it was actually up for eight of the 20 companies.

For many of the eight companies that saw sales increase, there was a common theme: They pivoted their focus to the diagnostics imaging and personal protective equipment needed to against COVID-19.

“We had different kinds of companies that were able to benefit on some level from COVID and shutdowns,” Richard Newitter, senior research analyst at SVB Leerink, told MDO.

Overall, medtech sales declined in Q1 and Q2 but then bounced back in a V-shaped recovery fo…

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How big medtech fared during a year of COVID-19

[Image from Unsplash]Despite numerous challenges, the medtech industry showed itself to be fairly recession-proof in 2020, according to a Medical Design & Outsourcing/MassDevice analysis of financials.

Annual reports recently released by 20 of the world’s largest medical device companies showed only a slight dip in revenue during 2020 — a year in which medtech held the front lines against the COVID-19 pandemic. Employment was also up slightly amongst the top earners, while R&D spending held its own.

The 20 companies included in the MDO analysis include 3M Healthcare, Abbott (medical device segment), Alcon, Align Technology, Baxter, Boston Scientific, Danaher (life sciences and diagnostics segment), Dentsply Sirona, Edwards Lifesciences, GE Healthcare, Henry Schein, Intuitive Surgical, Johnson & Johnson (medical device segment), Medline Industries, Owens & Minor, Royal Philips, Smith+Nephew, Stryker, Teleflex and Zimmer Biomet.

Get the full s…

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How big medtech fared during a year of COVID-19

[Photo from Unsplash]

Despite numerous challenges, the medtech industry showed itself to be fairly recession-proof in 2020, according to a Medical Design & Outsourcing analysis of financials.

Annual reports recently released by 20 of the world’s largest medical device companies showed only a slight dip in revenue during 2020 — a year in which medtech held the front lines against the COVID-19 pandemic. Employment was also up slightly amongst the top earners, while R&D spending held its own.

The 20 companies included in the MDO analysis include 3M Healthcare, Abbott (medical device segment), Alcon, Align Technology, Baxter, Boston Scientific, Danaher (life sciences and diagnostics segment), Dentsply Sirona, Edwards Lifesciences, GE Healthcare, Henry Schein, Intuitive Surgical, Johnson & Johnson (medical device segment), Medline Industries, Owens & Minor, Royal Philips, Smith+Nephew, …

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Dentsply Sirona skyrockets on Street-beating Q4

Dentsply Sirona (NSDQ:XRAY) shares soared this morning on fourth-quarter results that easily topped the consensus forecast.

XRAY shares were up 13.7% at $60.35 per share in mid-morning trading today.

The Charlotte, N.C.-based dental solutions company posted profits of $99 million, or 45¢ per share, on sales of $1.1 billion for the three months ended Dec. 31, 2020, for a -2.9% bottom-line slide on a sales decline of -2.6%.

Adjusted to exclude one-time items, earnings per share were 87¢, 23¢ ahead of Wall Street, where analysts were looking for sales of $995.7 million.

“Our fourth-quarter results reflect the continued focus on disciplined execution and the gradual recovery in global dental markets,” Dentsply Sirona CEO Don Casey said in a news release. “Our team delivered strong operational performance, exceeding our expectations across most metrics including operating margin expansion, healthy EPS growth and cash flow generation. We cap…

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Dentsply acquires Byte clear aligners for $1.04B

Dentsply Sirona (NSDQ:XRAY) announced that it acquired clear dental aligner maker Byte in an all-cash deal worth $1.04 billion.

According to a news release, Byte possesses a leadership position in the direct-to-consumer clear aligner market, which Dentsply can now add to its SureSmile clear aligner business while strengthening its connection with dental professionals to drive growth.

Byte’s business model is designed on doctor-directed care for patients with mild to moderate orthodontic needs in an effort to improve access and affordability to this type of care. Offerings include treatment planning and the easy-to-use clear aligner being delivered directly to a consumer’s home.

Neeraj Gunsagar, the CEO of Byte, and the current management team at the company will continue to operate the business following the transaction.

“We’ve been impressed with the passion that Dentsply Sirona has for innovation in dentistry,” Gunsagar said in…

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