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XRAY · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is DENTSPLY SIRONA Inc. (XRAY) stock moving?
Q3 2026 results missed on both lines: net sales of $836M fell 7.6% and missed the roughly $862M estimate, while adjusted EPS of $0.29 (down 29.4%) missed the $0.31 estimate. Adjusted EBITDA fell 13.3% to $146M, and constant-currency sales were down 7.0%. Reported EPS of ($0.01) was flattered by a $39M one-time inventory benefit that does not recur, so underlying earnings weakened more than the headline suggests. Management cut FY2026 adjusted EPS guidance to $1.20-$1.30 from $1.40-$1.50, well below the $1.55 estimate, and narrowed sales guidance to about $3.5B. Analysts responded with lower targets: BofA to $14 from $17, Barrington to $11 from $13 (Outperform kept), and JP Morgan to $10 from $12 (Neutral kept). The stock fell from $10.09 on Nov 5 to an intraday low of $8.135 on Nov 6, on 10.3M shares, the heaviest volume in the period. It has since recovered to $9.70 on Nov 10 with volume easing to about 6.0M, still below the $10.65 high of Nov 4. Positives include record Wellspect sales (up 10.1% as reported), the launch of the Surity urinary management system, and a wider U.S. dealer network, but these do not yet offset the sales decline and guidance cut.
News behind the analysis
- Barrington Adjusts PT on DENTSPLY SIRONA to $11 From $13, Maintains Outperform RatingBarrington Research cut its price target on Dentsply Sirona from $13 to $11 and kept its Outperform rating.
- JP Morgan Adjusts Dentsply Sirona Price Target to $10.00JP Morgan kept its Neutral rating on Dentsply Sirona and lowered its price target from $12.00 to $10.00.
- BofA Securities Adjusts Dentsply Sirona Price Target to $14BofA Securities lowered its price target from $17 to $14 after the third-quarter earnings report.
- Dentsply Sirona Reports Third Quarter 2026 Financial ResultsQ3 2026 net sales were $836 million (down 7.6%), adjusted EPS $0.29 (down 29.4%), and FY2026 outlook was updated; reported EPS of ($0.01) includes a $39 million one-time inventory benefit.
- Dentsply Sirona Q3 2026 Earnings Call TranscriptFull transcript of the company's Q3 2026 earnings call, held on Thursday, Nov 5.
- Dentsply Sirona Lowers FY2026 Adj EPS Guidance from $1.40-$1.50 to $1.20-$1.30 vs $1.55 Est; Narrows FY2026 Sales Guidance from $3.500B-$3.600B to $3.500B vs $3.570B EstAdjusted EPS guidance was cut to $1.20-$1.30 from $1.40-$1.50 (versus a $1.55 estimate), and sales guidance was narrowed to $3.5B, the low end of the prior range.
- Dentsply Sirona Q3 Adj. EPS $0.29 Misses $0.31 Estimate, Sales $836.000M Miss $862.001M EstimateAdjusted EPS of $0.29 missed the $0.31 estimate and sales of $836M missed the $862M estimate.
- Dentsply Sirona Highlights X-Smart Pro+ Endodontic Motor FeaturesThe company is promoting the integrated apex locator and control technology of its X-Smart Pro+ endodontic motor.
About DENTSPLY SIRONA Inc.
Dentsply Sirona is a Charlotte, North Carolina-based company and one of the world's largest makers of dental products. It sells everything from everyday dental supplies to high-end equipment like CAD/CAM crown-milling systems, imaging machines, implants and clear aligners. It is currently in the middle of a turnaround it calls its "Return-to-Growth Action Plan" under CEO Dan Scavilla.
How it makes money
The company sells to dentists, dental labs and specialists around the world, mostly through distributors. Its revenue comes from two broad groups. The first is equipment and technology: CEREC CAD/CAM systems, imaging and treatment centers. The second is consumables and specialty products: restorative materials, endodontic and orthodontic products (including SureSmile aligners), implants, and healthcare products such as urology catheters. Sales run at roughly $900 million a quarter (about $898 million in Q2 2026), and a large share comes from outside the US, especially Europe.
What usually moves XRAY
- Dental patient visits and dentists' spending on equipment
- Progress of the turnaround plan and relationships with distributors
- Interest rates and financing costs for big equipment purchases
- Currency swings, especially the euro, given its large European sales
- Goodwill writedowns, restructuring costs and debt levels