What Happened?
A number of stocks fell in the afternoon session after the February jobs report revealed an unexpected contraction in employment, with the healthcare industry showing significant job losses.
According to the Bureau of Labor Statistics, the economy lost 92,000 nonfarm payroll jobs, a stark reversal from the 50,000 gain that was anticipated by economists. The healthcare sector, typically a consistent source of job growth, shed 28,000 positions. This disappointing data has raised investor concerns about a potential economic slowdown, which could lead to reduced healthcare spending and demand for services, contributing to the sector's decline in the market.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Dental Equipment & Technology company Envista (NYSE: NVST) fell 3.3%. Is now the time to buy Envista? Access our full analysis report here, it’s free.
- Medical Devices & Supplies - Diversified company Baxter (NYSE: BAX) fell 3.8%. Is now the time to buy Baxter? Access our full analysis report here, it’s free.
- Medical Devices & Supplies - Cardiology, Neurology, Vascular company Artivion (NYSE: AORT) fell 3.6%. Is now the time to buy Artivion? Access our full analysis report here, it’s free.
- Dental Equipment & Technology company Dentsply Sirona (NASDAQ: XRAY) fell 4.1%. Is now the time to buy Dentsply Sirona? Access our full analysis report here, it’s free.
- Health Insurance Providers company Cigna (NYSE: CI) fell 3.9%. Is now the time to buy Cigna? Access our full analysis report here, it’s free.
Zooming In On Dentsply Sirona (XRAY)
Dentsply Sirona’s shares are quite volatile and have had 19 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock gained 13.4% on the news that the company reported mixed fourth-quarter results, with investors seemingly focusing on a revenue beat while overlooking a weak outlook for the upcoming year.
The dental products company posted fourth-quarter revenue of $961 million, growing 6.2% year-on-year and surpassing Wall Street's expectations. However, the report also contained negative points, as adjusted earnings per share of $0.27 missed analysts' estimates. Furthermore, Dentsply Sirona provided a disappointing forecast for the full year, with both its revenue and adjusted EPS guidance falling below consensus expectations. The positive stock reaction suggests that the market was encouraged by the better-than-expected sales in the reported quarter, choosing to ignore the more cautious forward-looking statements from management.
Dentsply Sirona is up 12% since the beginning of the year, but at $12.63 per share, it is still trading 25.1% below its 52-week high of $16.85 from July 2025. Investors who bought $1,000 worth of Dentsply Sirona’s shares 5 years ago would now be looking at an investment worth $203.96.
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