Dentsply Sirona price target lowered to $28 from $30 at Stifel

Stifel analyst Jonathan Block lowered the firm’s price target on Dentsply Sirona to $28 from $30 and keeps a Hold rating on the shares. Recent checks suggest a core SureSmile customer, which the firm thinks accounts for about $10M-$15M of annual revenue to Dentsply Sirona, may have recently started to shift resources and exposure away from the company, estimating that this amounts to about a 30 basis point headwinds to second half of 2024 and first half of 2025 revenue growth. With other areas of the business under duress, the firm views the incremental pressures in Orthodontics, which has been an important growth driver, as a concern, the analyst tells investors.