DENTSPLY (XRAY) (BOOT) (CALX) (CHKP) (NOV) Downgraded

DENTSPLY International Inc. (NASDAQ: XRAY), LaCrosse Footwear, Inc. (NASDAQ: BOOT), Calix Networks (NASDAQ: CALX), Check Point Software (NASDAQ: CHKP) and National-Oilwell Varco, Inc. (NYSE: NOV) were downgraded by analysts.

DENTSPLY International Inc. (XRAY) was downgraded by SunTrust (NYSE:STI) from a “Buy” rating to a “Neutral” rating.

LaCrosse Footwear, Inc. (BOOT) was downgraded by DA Davidson from a “Buy” rating to a “Neutral” rating.

Calix Networks (CALX) was downgraded by Avondale Partners from an “Outperform” rating to a “Market Perform” rating.

Check Point Software (CHKP) was downgraded by Imperial Capital to an “Outperform” rating.

National-Oilwell Varco, Inc. (NOV) was downgraded by Standpoint Research from a “Buy” rating to a “Hold” rating.

Dentsply (XRAY) (CPT) (AMNB) (TQNT) (BRFS) (CLC) Upgraded

Dentsply International Inc. (NASDAQ: XRAY), Camden Property Trust (NYSE: CPT), American National Bankshares Inc (NASDAQ: AMNB), TriQuint Semiconductor (NASDAQ: TQNT), BRF Brasil Foods (NASDAQ: BRFS) and Clarcor Inc. (NYSE: CLC) upgraded by analysts.

Camden Property Trust (CPT) was upgraded by FBR Capital from an “Underperform” rating to a “Market Perform” rating. They have a price target of $70.50 on the company, up from $60.50.

American National Bankshares Inc. (AMNB) was upgraded by BB&T (NYSE:BBT) from a “Hold” rating to a “Buy” rating.

Dentsply International Inc. (XRAY) was upgraded by Barrington Research from a “Market Perform” rating to an “Outperform” rating. They have a price target of $45.00 on the company.

TriQuint Semiconductor (TQNT) was upgraded by Kaufman Brothers from a “Hold” rating to a “Buy” rating. They have a price target of $9.00 on the company.

BRF Brasil Foods (BRFS) was upgraded by Raymond James (NYSE:RJF) from a “Market Perform” rating to an “Outperform” rating.

Clarcor Inc. (CLC) was upgraded by William Blair from a “Market Perform” rating to an “Outperform” rating.

Dividend Yields for (BCR) (XRAY) (CI) (KMB) (PG)

Indicated dividend yields for Standard & Poor's 500 Index companies CR Bard Inc (BCR), DENTSPLY International Inc (XRAY), CIGNA Corp (CI), Kimberly-Clark Corp (KMB) and Procter & Gamble Co (PG).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

CR Bard Inc (BCR) has a dividend yield of 0.67 percent on a declared dividend of $0.18. The payout ratio is 12.0 percent.

DENTSPLY International Inc (XRAY) has a dividend yield of 0.53 percent on a declared dividend of $0.05. The payout ratio is 10.2 percent.

CIGNA Corp (CI) has a dividend yield of 0.09 percent on a declared dividend of $0.04. The payout ratio is 0.8 percent.

Kimberly-Clark Corp (KMB) has a dividend yield of 4.24 percent on a declared dividend of $0.70. The payout ratio is 81.2 percent.

Procter & Gamble Co (PG) has a dividend yield of 3.24 percent on a declared dividend of $0.53. The payout ratio is 47.8 percent.

Medical Device Makers (VOLC) (EW) (XRAY) Among Hardest Hit in Japan

A large number of sectors have been hit hard in Japan, depending on the exposure they have to the country, and one not mentioned too much so far is the medical devices market, where those with the most exposure to Japan are Volcano Corp (NASDAQ:VOLC) Edwards Lifesciences Corp (NYSE:EW) and Dentsply International Inc (NASDAQ:XRAY).

About 30 percent of revenue generated by Volcano comes from Japan. Dentsply said key suppliers have been disrupted and has withdrawn its earnings guidance for 2011. Edwards Lifesciences Corp., which makes heart valves, generates about 17 percent of its revenue in Japan. At worst, Edwards sees disruptions being temporary and see no materially impact financial results from the earthquake damage.

Even so, analysts say every company should experience some degree of loss of sales as a result of the natural disaster.

Others device makers with significant exposure in Japan are Boston Scientific Corp (NYSE:BSX), with 12 percent of total sales in Japan, St Jude Medical Inc (NYSE:STJ) and Wright Medical Group Inc (NASDAQ:WMGI) at 11 percent each, Stryker Corp (NYSE:SYK) at 10 percent and Zimmer Holdings Inc (NYSE:ZMH) at 9 percent.

Larger diversified firms with less exposure are Medtronic Inc (NYSE:MDT), Johnson & Johnson (NYSE:JNJ) and Abbott Laboratories (NYSE:ABT) with from 5 percent to 6 percent of sales coming from Japan.

Of drugmakers, the largest exposure is Merck & Co Inc (NYSE:MRK) with about 8 percent of sales coming from Japan. Bristol Myers Squibb (NYSE:BMY) only has about 3 percent of sales come from there.

Volcano Corp. closed Tuesday at $23.56, down $1.21, or 4.88 percent. Edwards Lifesciences closed at $86.23, dropping $2.23, or 2.52 percent. Densply closed at $35.63, falling $1.55, or 4.17 percent.