DENTSPLY SIRONA Inc. XRAY reported third-quarter 2017 adjusted earnings per share (EPS) of 70 cents, beating the Zacks Consensus Estimate by 4 cents. Earnings also surpassed the year-ago quarter’s figure of 66 cents.
Quarter Details
DENTSPLY’s net sales increased to $1,009.2 million from $954 million in the year-ago period. The same also beat the Zacks Consensus Estimate of $978 million. Net sales, excluding precious metals, increased 4.3% on a constant-currency basis. Internal growth was 2.4% from the third quarter of 2016.
In the quarter, U.S. sales rose 8.4% to $363.8 million from $335.6 million in the year-ago quarter. Net sales in Europe increased 8.2% to $386.6 million. Net sales in Rest of World declined 1% to $258.8 million.
DENTSPLY SIRONA Inc. Price, Consensus and EPS Surprise
DENTSPLY SIRONA Inc. Price, Consensus and EPS Surprise | DENTSPLY SIRONA Inc. Quote
Financial Update
Total cash and cash equivalents of the company declined to $370.0 million as of Sep 30, from $383.9 million as of Dec 31, 2016. Cash generated from operations in the first nine months of 2017 was $373 million compared with $341 million in the year-ago period. As of Sep 30, the company’s long-term debt was $1.60 billion versus $1.51 billion at year-end 2016.
Guidance
The company narrowed its adjusted EPS guidance for 2017 in the range of $2.65-$2.70 per share. Earlier, the company projected adjusted EPS in a range of $2.65-$2.75.
Zacks Rank & Key Picks
Currently, DENTSPLY carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical sector are PetMed Express, Inc. PETS, Luminex Corporation LMNX and Intuitive Surgical, Inc. ISRG. Notably, PetMed and Luminex sport a Zacks Rank #1 (Strong Buy), while Intuitive Surgical carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PetMed reported second-quarter fiscal 2018 earnings of 43 cents, up 79.2% from 24 cents in the year-ago quarter. Gross margin expanded 548 bps year over year to 35.2%.
Luminex reported third-quarter 2017 adjusted earnings of 19 cents, up 216.7% year over year. The company’s revenues in the quarter increased almost 4.1% year over year to $74.1 million.
Intuitive Surgical posted third-quarter 2017 adjusted earnings of $2.77, up 34.5% on a year-over-year basis. Revenues increased 18% year over year to $806.1 million.
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