Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

Dentsply Drops on Probe as Situation Goes ‘From Bad to Worse’

May 10, 2022, 12:45 PM

Dentsply Sironashares fell as much as 15% in premarket trading after the dental systems company was unable to file its quarterly report on time amid an internal investigation into alleged misuse of funds and its forecast was cut.

The forecast cut and probe drives Dentsply “from bad to worse,” says JPMorgan analyst Rachel Vatnsdal; the company announced the firing of its chief executive in April.

  • JPMorgan says the forecast “implies a full year Covid headwind in China vs a minor 1Q headwind contemplated prior alongside more Russia/Ukraine headwinds, worsening inflation, supply shortages lasting.”
    • Rates neutral
  • Baird’s Jeff Johnson ...