Dentsply Sirona downgraded to Hold from Buy at Needham

Needham analyst David Saxon downgraded Dentsply Sirona (XRAY) to Hold from Buy without a price target With a debate around whether the dental market’s long-term growth profile has shifted lower and recent indicators pointing to weakening U.S. consumer sentiment, Needham does not expect dental market growth to improve in the near-term, the analyst tells investors in a research note. The firm says that with Dentsply and ZimVie both seeing below-market growth and no meaningful upside catalyst to drive near-term multiple expansion, it no longer believes the stocks can outperform relative to its broader coverage.