Henry Schein posted a solid third quarter with adjusted EPS of
$1.34 in the third-quarter of 2014 increased 9.8% year over year
and also beat the Zacks Consensus Estimate by 2.3%. Revenues rose
11.7% to $2.62 billion, edging past the Zacks Consensus Estimate by
2.54%. Animal Health continued to perform well while the core
dental business picked up. The recent strategic acquisitions are
expected to add value to the business. With the animal health
market growing at a rapid pace and showcasing favorable trends, we
are confident about further sales improvement. Henry Schein is
currently investing in growth opportunities for new product launch,
improve operating margin and develop new technology solutions that
will improve the customer experience and elevate Henry Schein's
position in the marketplace. We upgrade the stock to Outperform.
Headquartered in Melville, NY, Henry Schein Inc. (HSIC) is a
leading distributor of health care products and services across the
globe. The company serves office-based dental, medical and animal
health practitioners, dental laboratories, government as well as
institutional health care clinics and other alternate-care sites.
Presently, Henry Schein operates in 25 countries.
At the end of 2012, the company served a vast distribution
network worldwide with a selection of over 96,000 branded products.
Additionally, Henry Schein offers other value-added services such
as practice management software, e-commerce solutions and an array
of financial services.
Henry Schein's four businesses Dental, Animal Health, Medical
and Technology and Value-Added Services serve millions of customers
worldwide. In 2013, the company recorded global net revenue of
$9.56 billion, with annualized growth of 6.9%.
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