Why Dentsply Sirona Stock Is Sinking Today
Shares of Dentsply Sirona (NASDAQ: XRAY) have sunk 11.8% as of 10:26 a.m. ET on Tuesday. The decline comes after the dental products company announced that it had fired CEO Don Casey. Dentsply Sirona has made John Groetelaars interim CEO. Groetelaars currently serves on the company's board of directors.
Dentsply Sirona has also made Barbara Bodem interim CFO. She will take the baton from Jorge Gomez, who announced earlier this month that he's leaving the company to become CFO at another publicly traded company.
In addition, Dentsply Sirona gave a sneak peek at its first-quarter results. The company stated that it expects net sales will be around $965 million, down 1.4% year over year and lower than the $1.02 billion expected by analysts. It should report adjusted earnings per share of between $0.48 and $0.52. The range is well below the consensus earnings estimate of $0.67.
Source Fool.com
