Dentsply Sirona Inc.
XRAY
pitch
long
Timothy Hatch and Michael Keller
Thesis
Dentsply is the leading provider of consumable and other products to dentists, benefiting from positive demographic trends that should fuel increased demand. Currently trading at $26, under 14x this year’s EPS, while our intrinsic value estimate is north of $40.
Did it work?
failed
confidence: high
The stock price of Dentsply has decreased by 47% since the pitch, which is contrary to the long thesis that anticipated an increase in value based on demographic trends and an intrinsic value estimate above $40. Given that 28 months have passed, this significant decline indicates that the thesis did not play out as expected.
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