经济观察网登士柏西诺德(NASDAQ:XRAY)近7天股价出现显著波动。根据实时行情数据，2月12日股价 单日下跌6.78%，收盘报12.78美元，振幅达7.15%。同期，2月10日股价上涨1.68%至13.93美元，但2月 11日回落1.58%至13.71美元。整体区间累计跌幅7.12%，振幅10.25%，最低下探12.77美元。股价异动可 能与市场对牙科行业复苏预期的情绪变化相关，同时医疗设备板块同期下跌3.59%。 机构观点 以上内容基于公开资料整理，不构成投资建议。 机构对登士柏的关注度较高，但近期评级偏谨慎。截至2026年2月，18家机构中仅11%给予买入或增持 观点，83%持有观点，6%建议减持或卖出。目标价区间为11.00-16.00美元，均价12.75美元，接近当前 股价。盈利预测显示，2025年第四季度每股收益预期同比下滑32.79%，营收预期同比微增0.73%。机构 普遍关注公司盈利能力改善进展，尤其在核心市场美国销售额承压的背景下。 近期事件 近期无重大公司事件公告，但市场聚焦于业绩修复前景。登士柏预计在2026年第一季度公布2025年全年 财报，管理层可能更新"重返增长"战略细节。行业 ...

Core Viewpoint - Dentsply Sirona will host an investor conference call on February 26, 2026, to discuss its fourth quarter and full year 2025 financial results [1]. Group 1: Conference Call Details - The conference call is scheduled for 4:30 p.m. EST on February 26, 2026 [1]. - A live webcast will be available on the Investors section of the Company's website [2]. - Participants are required to register for the call through a provided link [2]. - A replay of the conference call will be accessible on the Company's website after the event [2]. Group 2: Company Overview - Dentsply Sirona is the largest diversified manufacturer of professional dental products and technologies globally [3]. - The Company has over a century of innovation and service in the dental industry [3]. - Dentsply Sirona offers a comprehensive range of dental and oral health products, along with other consumable medical devices [3]. - The Company is headquartered in Charlotte, North Carolina, and its shares are listed on Nasdaq under the symbol XRAY [3].

Group 1 - The Conservative Income Portfolio offers timely investment picks focused on fixed income, aiming to provide the best ideas in the market for subscribers [1] - The investment group consists of analysts with over 40 years of combined experience, emphasizing capital preservation while generating income through options and fixed income strategies [2] - The Covered Calls Portfolio is designed for lower volatility income investing, while the fixed income portfolio targets securities with high income potential and significant undervaluation [2] Group 2 - The article does not disclose any stock or derivative positions in the companies mentioned, indicating a lack of conflict of interest [3] - The company is long on the bonds mentioned in the article, suggesting a positive outlook on those securities [4]

Group 1 - The Conservative Income Portfolio offers timely investment picks focused on fixed income, aiming to provide the best ideas in the market for subscribers [1][2] - The investment group consists of analysts with over 40 years of combined experience, emphasizing capital preservation while generating income through options and fixed income strategies [2] - The Covered Calls Portfolio is designed for lower volatility income investing, while the fixed income portfolio targets securities with high income potential and significant undervaluation [2] Group 2 - The article does not disclose any stock or derivative positions in the companies mentioned, indicating a neutral stance from the analyst [3] - The company is long on the bonds mentioned in the article, suggesting a positive outlook on those specific investments [4]

Core Viewpoint - The appointment of Mark R. Bezjak as Group Vice President of the Americas Regional Commercial Organization at Dentsply Sirona reflects a strategic alignment with the company's focus on enhancing market service and growth execution in the Americas region [1][5][8]. Group 1: Mark Bezjak's Career Background and Responsibilities - Mark Bezjak has over 20 years of experience in the medical device industry, primarily focusing on commercial and market execution rather than clinical technology or product development [2][3]. - He has held several senior leadership positions at Zimmer Biomet, including President of the Americas, where he oversaw commercial operations, channel management, and regional market strategy execution across North America and Latin America [3]. - Bezjak's expertise includes leading complex organizations, developing commercial strategies, and implementing market solutions with a strong emphasis on customer-centric execution and team building [3]. Group 2: Executive Evaluation - Dentsply Sirona's executives have expressed confidence in Bezjak's appointment, highlighting his commercial expertise, customer-oriented mindset, and ability to build high-performance teams as essential for executing the company's growth strategy [5]. - The company views Bezjak's leadership as a critical asset for enhancing market service and driving growth in the Americas [5]. Group 3: Company Background - Zimmer Biomet, founded in 1927, is a significant player in the orthopedic medical device sector, specializing in joint replacement and rehabilitation equipment [6]. - Dentsply Sirona, headquartered in Charlotte, North Carolina, is a global leader in dental equipment and technology, focusing on dental imaging, CAD/CAM systems, and implant solutions [6]. - The two companies operate in distinct segments, with Zimmer Biomet concentrating on orthopedic implants and robotics, while Dentsply Sirona focuses on dental clinical equipment and digital solutions [6]. Group 4: Conclusion - Bezjak's transition to Dentsply Sirona signifies a match between his career trajectory and the company's current emphasis on commercial execution and organizational management in the Americas [8]. - The appointment is seen as a clear and routine management adjustment aimed at enhancing execution capabilities within the company [8].

Core Insights - The renewed distribution agreement between Dentsply Sirona and Patterson Dental aims to accelerate growth and enhance access to integrated dental technology solutions for dental professionals [1][2][4] Group 1: Partnership Overview - Dentsply Sirona and Patterson Dental have a long-standing partnership focused on delivering digital solutions to dental practices, with the renewed agreement emphasizing their commitment to advancing integrated technologies [2][5] - The partnership aims to create a comprehensive ecosystem that connects devices, software, and services, enhancing productivity and patient care in dental practices [3] Group 2: Impact on Dental Professionals - Under the renewed agreement, Patterson Dental customers will have continued access to Dentsply Sirona's full range of dental technology solutions, including the CEREC system and Primescan intraoral scanners, supported by expert service [4] - Both companies view this agreement as a strategic opportunity to foster growth and assist dental professionals in adapting to a rapidly evolving industry [4][5] Group 3: Company Background - Dentsply Sirona is recognized as the largest diversified manufacturer of professional dental products and technologies, with a history of over a century in innovation and service [6] - Patterson Companies connects dental and animal health customers to the latest products and services, emphasizing operational success through a comprehensive portfolio and dedicated customer support [7]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Company Overview - Dentsply Sirona is led by CEO Dan Scavilla, who joined the company five months ago after a successful tenure at Globus Medical, where he helped grow revenue from $300 million to $3 billion [2] - Scavilla has extensive experience in the healthcare sector, having spent 28 years at Johnson & Johnson, which provided him with insights into various business models applicable to the current healthcare environment [3] Strategic Focus - The company emphasizes the strength of its brands and customer loyalty, which are seen as key assets in shaping the future of dentistry and connected dentistry [4] - Dentsply Sirona has an integrated portfolio that positions it well to influence advancements in the dental industry [4]

Dentsply Sirona FY Conference Summary Company Overview - **Company**: Dentsply Sirona (NasdaqGS: XRAY) - **Industry**: Dental Technology - **Market Presence**: Operates in over 100 countries, engaging approximately 400,000 practitioners annually through training programs [3][2] Key Points and Arguments Market Position and Growth Potential - **Total Addressable Market (TAM)**: $33 billion annually, with a growth rate of 3%-4% [4] - **Product Innovation**: Launched over 50 new products in the past four years, maintaining leadership in single-visit dentistry with the CEREC mill system [3] - **Brand Strength**: Strong brand loyalty among dentists, with a focus on integrated portfolio offerings [2] Challenges Faced by Dentists - **Patient Treatment Acceptance**: 54% of patients decline treatments offered by dentists, impacting revenue [5] - **Operational Constraints**: 36% of dentists face efficiency issues, limiting patient throughput [6] - **Cost Barriers**: Nearly 80% of dentists view costs as a significant barrier to adopting digital dentistry [6] Strategic Initiatives for Growth - **Return-to-Growth Action Plans**: Focus on customer-centric strategies, enhancing engagement with dentists, and increasing R&D investment [12][16] - **Investment in R&D**: Current spending at 4% ($150 million) of revenue, with plans to increase to 6% over the next 24 months [50][16] - **Unified Commercial Functions**: Creation of a Chief Commercial Officer role to streamline operations and enhance market penetration [18] Focus Areas for Investment - **Key Segments**: Prioritizing investment in implantology and orthodontics, where the company currently underindexes [11][51] - **DS Core Platform**: Aiming to enhance the DS Core platform to provide a comprehensive ecosystem for dentists [8][11] Financial Strategies - **Cash Flow Improvement**: Plans to reduce inventory by 20% and enhance free cash flow to support growth initiatives [26][27] - **Tax Strategy**: Aiming for a tax rate of 26%-28% in 2026, with a goal to lower it further through improved structures [56] Organizational Changes - **Leadership Appointments**: New Chief Commercial Officer and a focus on vertical alignment of sales teams to enhance market focus [29][41] - **Growth and Value Committee**: Established to oversee strategic moves, including capital allocation and potential acquisitions [32][40] Additional Important Insights - **AI Strategy**: Implementation of AI to improve operational efficiencies and decision-making processes [21] - **Market Trends**: Acknowledgment of macroeconomic factors such as high interest rates affecting capital purchases, but emphasis on internal improvements as the primary focus for growth [45][46] - **Wellspect Business**: Retained as a significant cash flow contributor, with plans for independent operation and potential future divestiture if necessary [48] Conclusion Dentsply Sirona is positioned in a growing dental technology market with a strong brand and innovative product offerings. The company is implementing a comprehensive return-to-growth strategy focused on enhancing customer engagement, increasing R&D investment, and streamlining operations to improve financial performance and market share.

J.P. Morgan Healthcare Conference Dan Scavilla President and Chief Executive Officer January 13, 2026 Forward-Looking Statements and Associated Risks This presentation contains statements that do not directly and exclusively relate to historical facts which constitute forward-looking statements, including, statements and projections concerning, among other things, the Company's return-to-growth action plan described in this presentation and statements and projections regarding the Company's use of technolog ...