Partnership Expands Access to the BioCode® MDx-3000 System for Hospitals and Reference Laboratories
SANTA FE SPRINGS, Calif.--(BUSINESS WIRE)--Applied BioCode today announced a distribution agreement with Henry Schein, a leading provider of healthcare products and services, to expand the availability of its BioCode® MDx-3000 System and comprehensive molecular diagnostics menu.
"Helping broaden access to advanced molecular diagnostic capabilities"
Share The BioCode® MDx-3000 is an automated, high-throughput multiplex molecular diagnostic platform designed to support high-complexity clinical laboratories. Its testing menu includes upper respiratory and gastrointestinal infection panels, with a customizable menu option, enabling laboratories to deliver accurate, cost-effective, and efficient molecular diagnostic testing.
Through this agreement, Henry Schein will distribute the MDx-3000 System and its associated assays to hospitals, health systems, and reference laboratories nationwide, helping broaden access to advanced molecular diagnostic capabilities.
"Applied BioCode is excited to partner with Henry Schein as we continue expanding our presence in hospitals and reference laboratories across the United States," said Jim Leigh, Sr. Vice President of Sales. "Henry Schein's extensive laboratory distribution network makes them an ideal partner to help bring our innovative molecular diagnostic solutions to more clinical laboratories."
Applied BioCode remains committed to advancing molecular diagnostics through innovative technologies that improve laboratory workflows and deliver accurate, reliable, and actionable results for healthcare providers and patients.
About Applied BioCode
Applied BioCode is a leading provider of molecular diagnostic solutions, focused on developing innovative technologies that empower clinical laboratories, improve operational efficiency, and enhance patient care.
To learn more about Applied BioCode's molecular diagnostic solutions, visit:
MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc., the world's largest provider of healthcare solutions to office-based dental and medical practitioners, announced today that the Company will present at the following conference in September: Baird Global Healthcare Conference at the InterContinental Hotel, New York City on September 15, 2026, at 12:15 p.m. EDT. Henry Schein's presentations can be heard via live webcast by visiting www.henryschein.com/IRwebcasts. Replays will be available on t.
Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.
That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.
However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
Henry Schein (HSIC - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.
Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.
While there are numerous reasons why the stock of this health care products maker is a great growth pick right now, we have highlighted three of the most important factors below:
Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Henry Schein is 1.8%, investors should actually focus on the projected growth. The company's EPS is expected to grow 7.8% this year, crushing the industry average, which calls for EPS growth of 7.7%.
Impressive Asset Utilization RatioAsset utilization ratio -- also known as sales-to-total-assets (S/TA) ratio -- is often overlooked by investors, but it is an important indicator in growth investing. This metric shows how efficiently a firm is utilizing its assets to generate sales.
Right now, Henry Schein has an S/TA ratio of 1.21, which means that the company gets $1.21 in sales for each dollar in assets. Comparing this to the industry average of 0.77, it can be said that the company is more efficient.
While the level of efficiency in generating sales matters a lot, so does the sales growth of a company. And Henry Schein is well positioned from a sales growth perspective too. The company's sales are expected to grow 4.9% this year versus the industry average of 4%.
Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
There have been upward revisions in current-year earnings estimates for Henry Schein. The Zacks Consensus Estimate for the current year has surged 0.8% over the past month.
Bottom LineWhile the overall earnings estimate revisions have made Henry Schein a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination positions Henry Schein well for outperformance, so growth investors may want to bet on it.
It has been about a month since the last earnings report for Henry Schein (HSIC - Free Report) . Shares have added about 0.9% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Henry Schein due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.
Henry Schein Tops on Q2 Earnings and RevenuesHenry Schein, Inc. reported second-quarter 2026 adjusted earnings of $1.27 per share, up 15.5% year over year. The bottom line surpassed the Zacks Consensus Estimate by 4.1%.
Net sales rose 6.7% to $3.46 billion and beat the consensus estimate by 2.8%. Results benefited from 4.6% internal sales growth, with gains across distribution, specialty products and technology. Acquisitions contributed 0.7% to growth, while foreign currency movements added 1.4%.
Henry Schein’s Distribution Business Gains
Global Distribution and Value-Added Services sales increased 6.6% to $2.91 billion. The segment generated 4.5% internal growth, a 0.6% contribution from acquisitions and a 1.5% foreign exchange benefit.
Global Medical Distribution sales advanced 4% to $1.06 billion, supported by 3.9% internal growth. Global Value-Added Services sales increased 5.1% to $61 million, reflecting 3.7% internal growth.
U.S. Distribution and Value-Added Services sales rose 4.6% to $1.95 billion. International sales in the segment climbed 10.7% to $965 million, aided by 5.5% internal growth and a 4.5% currency benefit.
HSIC’s Specialty and Technology Sales Rise
Global Specialty Products sales increased 8.7% to $419 million. Internal growth was 3.2%, acquisitions contributed 3.4% and foreign currency exchange added 2.1%.
Global Technology sales advanced 8.2% to $181 million. Internal sales grew 9.1%, partly offset by a 1.3% reduction related to a business disposal. Foreign exchange contributed 0.4%.
Technology delivered the company’s highest internal growth rate among its major reporting categories. The performance complemented steady gains in dental merchandise, medical distribution and specialty products.
HSIC’s Margin Performance
In the reported quarter, gross profit totaled $1.10 billion, representing an 8.4% increase year over year. The gross margin expanded 48 basis points (bps) to 31.8% despite a 6% rise in the cost of sales. Selling, general and administrative expenses increased 6.8% to $831 million. Operating income rose 13.2% to $171 million, while the operating margin expanded 28 bps year over year to 4.9%.
Liquidity Position of HSIC
Henry Schein exited the second quarter of 2026 with cash and cash equivalents of $157 million compared with $138 million at March-end. Cumulative net cash provided by operating activities at the end of the reported quarter was $145 million compared with $157 million a year ago.
Henry Schein Raises Its 2026 Outlook
Management raised its 2026 adjusted earnings guidance to $5.29-$5.39 per share, from the earlier $5.23-$5.37 range. The Zacks Consensus Estimate for earnings currently stands at $5.32 per share. The company also lifted its total sales growth forecast to 4.5%-5.5% from 3%-5%. The Zacks Consensus Estimate for sales is currently pegged at $13.72 billion, indicating 4.1% year-over-year growth.
Adjusted EBITDA is now expected to grow at a mid- to high-single-digit rate, compared with the prior expectation of mid-single-digit growth. Management cited sustained business momentum, margin improvement and early benefits from its value creation initiatives.
The updated outlook assumes foreign exchange rates remain generally consistent with current levels. It excludes future tariff refunds, remeasurement gains and several items that management does not consider representative of underlying performance.
How Have Estimates Been Moving Since Then?It turns out, fresh estimates flatlined during the past month.
VGM ScoresAt this time, Henry Schein has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Henry Schein has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry PlayerHenry Schein is part of the Zacks Medical - Dental Supplies industry. Over the past month, Conmed (CNMD - Free Report) , a stock from the same industry, has gained 0.3%. The company reported its results for the quarter ended June 2026 more than a month ago.
Conmed reported revenues of $343.49 million in the last reported quarter, representing a year-over-year change of +0.3%. EPS of $1.38 for the same period compares with $1.15 a year ago.
For the current quarter, Conmed is expected to post earnings of $1.00 per share, indicating a change of -7.4% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
Conmed has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
Henry Schein (HSIC - Free Report) is a stock many investors are watching right now. HSIC is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 13.27 right now. For comparison, its industry sports an average P/E of 17.58. HSIC's Forward P/E has been as high as 15.82 and as low as 12.57, with a median of 13.90, all within the past year.
HSIC is also sporting a PEG ratio of 2.11. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. HSIC's PEG compares to its industry's average PEG of 2.15. Over the last 12 months, HSIC's PEG has been as high as 2.31 and as low as 1.77, with a median of 2.08.
Investors should also recognize that HSIC has a P/B ratio of 2.01. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. HSIC's current P/B looks attractive when compared to its industry's average P/B of 5.72. Over the past 12 months, HSIC's P/B has been as high as 2.53 and as low as 1.92, with a median of 2.16.
Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. HSIC has a P/S ratio of 0.73. This compares to its industry's average P/S of 1.77.
Finally, investors will want to recognize that HSIC has a P/CF ratio of 11.89. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 19.58. Within the past 12 months, HSIC's P/CF has been as high as 15.66 and as low as 10.92, with a median of 12.77.
These are just a handful of the figures considered in Henry Schein's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that HSIC is an impressive value stock right now.
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What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +23.8% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Henry Schein (HSIC - Free Report) Melville, NY-headquartered Henry Schein Inc. is a solutions company for health care professionals that combines distribution, technology, and value-added services. 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 34 countries and offers a comprehensive selection of more than 300,000 branded products.
HSIC is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. HSIC has a Growth Style Score of B, forecasting year-over-year earnings growth of 7.9% for the current fiscal year.
Eight analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.04 to $5.36 per share. HSIC also boasts an average earnings surprise of +6.5%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, HSIC should be on investors' short list.
Investors with an interest in Medical - Dental Supplies stocks have likely encountered both Henry Schein (HSIC - Free Report) and Straumann Holding AG (SAUHY - Free Report) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Right now, Henry Schein is sporting a Zacks Rank of #2 (Buy), while Straumann Holding AG has a Zacks Rank of #3 (Hold). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that HSIC is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
HSIC currently has a forward P/E ratio of 16.71, while SAUHY has a forward P/E of 28.19. We also note that HSIC has a PEG ratio of 1.71. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. SAUHY currently has a PEG ratio of 2.10.
Another notable valuation metric for HSIC is its P/B ratio of 2.61. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, SAUHY has a P/B of 7.05.
These are just a few of the metrics contributing to HSIC's Value grade of A and SAUHY's Value grade of D.
HSIC has seen stronger estimate revision activity and sports more attractive valuation metrics than SAUHY, so it seems like value investors will conclude that HSIC is the superior option right now.
Bank of New York Mellon Corp purchased a new stake in Henry Schein, Inc. (NASDAQ:HSIC – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 505,999 shares of the company’s stock, valued at approximately $42,261,000. Bank of New York Mellon Corp owned approximately 0.44% of Henry Schein as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Henry Schein by 12.7% in the first quarter. Parallel Advisors LLC now owns 1,314 shares of the company’s stock valued at $97,000 after purchasing an additional 148 shares in the last quarter. Jain Global LLC increased its holdings in Henry Schein by 2.0% in the 3rd quarter. Jain Global LLC now owns 10,662 shares of the company’s stock valued at $708,000 after buying an additional 207 shares during the period. Sanctuary Advisors LLC increased its holdings in Henry Schein by 4.5% in the 4th quarter. Sanctuary Advisors LLC now owns 4,856 shares of the company’s stock valued at $367,000 after buying an additional 209 shares during the period. Captrust Financial Advisors raised its stake in shares of Henry Schein by 3.6% in the 4th quarter. Captrust Financial Advisors now owns 6,105 shares of the company’s stock valued at $461,000 after buying an additional 210 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Henry Schein by 1.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,859 shares of the company’s stock valued at $1,155,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 96.62% of the company’s stock.
Henry Schein Price Performance NASDAQ:HSIC opened at $90.28 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.32 and a debt-to-equity ratio of 0.60. The firm has a market cap of $10.06 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.72 and a beta of 0.80. Henry Schein, Inc. has a 12 month low of $61.94 and a 12 month high of $92.18. The company’s 50-day moving average price is $86.49 and its two-hundred day moving average price is $79.93.
Henry Schein (NASDAQ:HSIC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.03. Henry Schein had a net margin of 2.96% and a return on equity of 15.97%. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter last year, the business posted $1.10 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. Henry Schein has set its FY 2026 guidance at 5.290-5.390 EPS. On average, equities analysts anticipate that Henry Schein, Inc. will post 5.36 EPS for the current fiscal year. Wall Street Analysts Forecast Growth A number of research firms have recently commented on HSIC. Stifel Nicolaus set a $95.00 price objective on shares of Henry Schein in a report on Wednesday, August 5th. Robert W. Baird set a $97.00 price target on shares of Henry Schein in a research report on Wednesday, May 6th. Mizuho cut their price target on shares of Henry Schein from $88.00 to $82.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Piper Sandler lifted their price objective on Henry Schein from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, BTIG Research upped their price objective on Henry Schein from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.93.
Check Out Our Latest Report on Henry Schein
Henry Schein Company Profile (Free Report)
Henry Schein, Inc is a leading global distributor of healthcare products and services, primarily serving office-based dental, medical and animal health practitioners. The company operates through three principal segments—Schein Dental, Schein Medical and Animal Health—each offering a comprehensive portfolio of consumable products, equipment, instruments and related value-added services. With a focus on improving practice efficiency and patient care, Henry Schein provides everything from dental restorative materials and orthodontic appliances to vaccines, pharmaceuticals and diagnostic devices for physicians, as well as pet health products and veterinary equipment for animal health professionals.
In addition to its broad product offering, Henry Schein delivers a suite of technology and service solutions aimed at streamlining workflows and enhancing clinical outcomes.
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The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Henry Schein (HSIC - Free Report) Melville, NY-headquartered Henry Schein Inc. is a solutions company for health care professionals that combines distribution, technology, and value-added services. 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 34 countries and offers a comprehensive selection of more than 300,000 branded products.
HSIC is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 16.52; value investors should take notice.
Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.03 to $5.35 per share. HSIC also boasts an average earnings surprise of +6.5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, HSIC should be on investors' short list.
Henry Schein's broader growth, recurring technology revenues and savings plan support its outlook, but leverage and execution risks remain key concerns.
Key Takeaways Henry Schein raised 2026 sales growth guidance to 4.5%-5.5% after broad Q2 internal growth.Henry Schein's gross margin expanded 48 basis points as operating income rose 13.2% to $171 million.HSIC targets a $125 million annualized savings run rate by year-end, with initial outsourcing gains in Q3. Henry Schein, Inc. (HSIC - Free Report) raised its 2026 sales and earnings outlook after a second quarter marked by faster internal growth and better profitability. Net sales increased 6.7% to $3.46 billion, while adjusted earnings of $1.27 per share exceeded the Zacks Consensus Estimate by 4.1%.
The more important question is whether the stronger outlook can carry into the second half as value creation initiatives contribute more meaningfully and the company works toward its year-end savings targets.
HSIC’s Q2 Results Set Up the Guidance IncreaseSecond-quarter strength was broad rather than acquisition-driven. Internal sales growth reached 4.6%, while acquisitions added 0.7% and foreign exchange contributed 1.4% to reported growth. Global Distribution and Value-Added Services sales rose 6.6%, Specialty Products increased 8.7% and Global Technology advanced 8.2%.
The mix also matters. U.S. Dental Merchandise internal sales climbed 6.5%, International Dental Merchandise increased 5.4% and Technology posted 9.1% internal growth. Those gains gave management more confidence in the underlying demand picture heading into the back half of 2026.
Henry Schein Lifts Its 2026 Sales ExpectationsHenry Schein raised projected 2026 total sales growth to 4.5%-5.5% from 3%-5%. The company now expects internal local-currency growth of 3.5%-4.5% in the second half, compared with 3.6% in the first half despite a tougher prior-year comparison.
Image Source: Zacks Investment Research
Management expects momentum across dental merchandise, medical distribution, specialty products and technology to support that range. U.S. Dental Equipment remained a softer area in the quarter, but the company said its backlog was healthy and expects the business to return to growth during the remainder of 2026.
HSIC’s Margin Gains Strengthen the Earnings CaseGross profit increased 8.4% to $1.10 billion and gross margin expanded 48 basis points to 31.8%. Operating income rose 13.2% to $171 million, while the operating margin improved 28 basis points to 4.9%. Henry Schein also lifted adjusted earnings guidance to $5.29-$5.39 per share and now expects adjusted EBITDA growth in the mid- to high-single digits.
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Industry peers show that operating momentum is not uniform. Dentsply Sirona Inc. (XRAY - Free Report) reported second-quarter 2026 sales of $898 million, down 4.1% year over year, while its GAAP gross margin improved to 54.9%. CooperCompanies (COO - Free Report) reported fiscal second-quarter revenues of $1.08 billion, up 8%, with organic growth of 5% and non-GAAP earnings up 26%.
Henry Schein’s Savings Program Becomes More ImportantThe value creation program is becoming a larger part of the earnings setup. Henry Schein continues to target more than $200 million of operating income improvement over the next few years and expects to reach a $125 million annualized run rate by the end of 2026.
Initial benefits from the global outsourcing initiative are expected to begin in the third quarter. For 2026, management expects about 60% of the in-year operating income improvement to come from general and administrative savings and 40% from gross profit initiatives, making second-half execution central to the margin outlook.
HSIC’s Buy Signal Supports the Improved OutlookThe bottom line is that Henry Schein enters the second half with better sales momentum, expanding margins and higher full-year expectations, but the larger savings contribution still lies ahead. Delivering the targeted year-end operating income run rate will be an important test of whether the earnings improvement can become more durable.
HSIC currently carries a Zacks Rank #2 (Buy), along with a VGM Score of A, Value Score of A, Growth Score of B and Momentum Score of F. The Rank points to favorable near-term earnings estimate trends, while the A and B Style Scores indicate attractive characteristics in value and growth for investors who use those styles.
The Momentum Score of F is the main offset. That split suggests the stock’s fundamental and valuation profile is more favorable than its momentum characteristics, leaving execution on guidance and cost initiatives important to the investment case.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Empowered Funds LLC lessened its stake in Henry Schein, Inc. (NASDAQ:HSIC – Free Report) by 59.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,551 shares of the company’s stock after selling 16,735 shares during the period. Empowered Funds LLC’s holdings in Henry Schein were worth $851,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CYBER HORNET ETFs LLC acquired a new stake in Henry Schein during the 2nd quarter valued at approximately $25,000. MUFG Securities EMEA plc bought a new stake in shares of Henry Schein in the 2nd quarter valued at $27,000. Federated Hermes Inc. acquired a new stake in shares of Henry Schein during the fourth quarter worth $32,000. Los Angeles Capital Management LLC acquired a new stake in shares of Henry Schein during the fourth quarter worth $37,000. Finally, EverSource Wealth Advisors LLC raised its stake in Henry Schein by 167.4% during the first quarter. EverSource Wealth Advisors LLC now owns 936 shares of the company’s stock worth $69,000 after buying an additional 586 shares during the last quarter. Institutional investors and hedge funds own 96.62% of the company’s stock.
Analysts Set New Price Targets Several equities analysts recently issued reports on the stock. Robert W. Baird set a $97.00 target price on shares of Henry Schein in a report on Wednesday, May 6th. Citigroup reiterated a “buy” rating and set a $112.00 price target (up from $100.00) on shares of Henry Schein in a report on Wednesday, August 5th. Piper Sandler lifted their price objective on Henry Schein from $91.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. BTIG Research reissued a “buy” rating and issued a $100.00 price objective on shares of Henry Schein in a research note on Wednesday, August 5th. Finally, Barrington Research set a $104.00 target price on Henry Schein in a research report on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $92.27.
View Our Latest Analysis on Henry Schein Henry Schein Trading Down 0.3% NASDAQ:HSIC opened at $89.52 on Tuesday. Henry Schein, Inc. has a 12 month low of $61.94 and a 12 month high of $92.18. The company has a current ratio of 1.32, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.71 and a beta of 0.80. The firm has a fifty day simple moving average of $85.04 and a two-hundred day simple moving average of $79.16.
Henry Schein (NASDAQ:HSIC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.03. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.37 billion. Henry Schein had a net margin of 2.96% and a return on equity of 15.97%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. Henry Schein has set its FY 2026 guidance at 5.290-5.390 EPS. Analysts expect that Henry Schein, Inc. will post 5.35 EPS for the current fiscal year.
Henry Schein Company Profile (Free Report)
Henry Schein, Inc is a leading global distributor of healthcare products and services, primarily serving office-based dental, medical and animal health practitioners. The company operates through three principal segments—Schein Dental, Schein Medical and Animal Health—each offering a comprehensive portfolio of consumable products, equipment, instruments and related value-added services. With a focus on improving practice efficiency and patient care, Henry Schein provides everything from dental restorative materials and orthodontic appliances to vaccines, pharmaceuticals and diagnostic devices for physicians, as well as pet health products and veterinary equipment for animal health professionals.
In addition to its broad product offering, Henry Schein delivers a suite of technology and service solutions aimed at streamlining workflows and enhancing clinical outcomes.
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Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
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Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
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Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Henry Schein (HSIC - Free Report) Melville, NY-headquartered Henry Schein Inc. is a solutions company for health care professionals that combines distribution, technology, and value-added services. 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 34 countries and offers a comprehensive selection of more than 300,000 branded products.
HSIC is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. HSIC has a Growth Style Score of B, forecasting year-over-year earnings growth of 7.7% for the current fiscal year.
Seven analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.03 to $5.35 per share. HSIC boasts an average earnings surprise of +6.5%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, HSIC should be on investors' short list.
Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
One company to watch right now is Henry Schein (HSIC - Free Report) . HSIC is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 13.27, which compares to its industry's average of 17.66. HSIC's Forward P/E has been as high as 15.82 and as low as 12.57, with a median of 13.90, all within the past year.
Another notable valuation metric for HSIC is its P/B ratio of 2.01. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 5.67. Within the past 52 weeks, HSIC's P/B has been as high as 2.53 and as low as 1.92, with a median of 2.16.
Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. HSIC has a P/S ratio of 0.72. This compares to its industry's average P/S of 1.71.
Finally, investors should note that HSIC has a P/CF ratio of 11.89. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. HSIC's P/CF compares to its industry's average P/CF of 18.88. HSIC's P/CF has been as high as 15.66 and as low as 10.92, with a median of 12.77, all within the past year.
These are just a handful of the figures considered in Henry Schein's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that HSIC is an impressive value stock right now.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
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What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Henry Schein (HSIC - Free Report) Melville, NY-headquartered Henry Schein Inc. is a solutions company for health care professionals that combines distribution, technology, and value-added services. 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 34 countries and offers a comprehensive selection of more than 300,000 branded products.
HSIC is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Medical stock. HSIC has a Momentum Style Score of B, and shares are up 4.4% over the past four weeks.
Seven analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.03 to $5.35 per share. HSIC boasts an average earnings surprise of +6.5%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, HSIC should be on investors' short list.
Investors with an interest in Medical - Dental Supplies stocks have likely encountered both Henry Schein (HSIC) and Straumann Holding AG (SAUHY). But which of these two stocks presents investors with the better value opportunity right now?
Have you been paying attention to shares of Henry Schein (HSIC - Free Report) ? Shares have been on the move with the stock up 2.6% over the past month. The stock hit a new 52-week high of $92.18 in the previous session. Henry Schein has gained 17.9% since the start of the year compared to the -0.3% move for the Zacks Medical sector and the 2.1% return for the Zacks Medical - Dental Supplies industry.
What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on August 4, 2026, Henry Schein reported EPS of $1.27 versus consensus estimate of $1.22 while it beat the consensus revenue estimate by 2.8%.
For the current fiscal year, Henry Schein is expected to post earnings of $5.33 per share on $13.76 in revenues. This represents a 7.24% change in EPS on a 4.37% change in revenues. For the next fiscal year, the company is expected to earn $5.85 per share on $14.25 in revenues. This represents a year-over-year change of 9.9% and 3.6%, respectively.
Valuation MetricsThough Henry Schein has recently hit a 52-week high, what is next for Henry Schein? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
Henry Schein has a Value Score of A. The stock's Growth and Momentum Scores are D and B, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 16.7X current fiscal year EPS estimates, which is not in-line with the peer industry average of 17.7X. On a trailing cash flow basis, the stock currently trades at 11.5X versus its peer group's average of 13.5X. Additionally, the stock has a PEG ratio of 1.71. This is good enough to put the company in the top echelon of all stocks we cover from a value perspective, making Henry Schein an interesting choice for value investors.
Zacks RankWe also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Henry Schein currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Henry Schein meets the list of requirements. Thus, it seems as though Henry Schein shares could still be poised for more gains ahead.
How Does HSIC Stack Up to the Competition?Shares of HSIC have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is The Cooper Companies, Inc. (COO - Free Report) . COO has a Zacks Rank of #2 (Buy) and a Value Score of B, a Growth Score of B, and a Momentum Score of C.
Earnings were strong last quarter. The Cooper Companies, Inc. beat our consensus estimate by 10.00%, and for the current fiscal year, COO is expected to post earnings of $4.63 per share on revenue of $4.31 billion.
Shares of The Cooper Companies, Inc. have gained 3.9% over the past month, and currently trade at a forward P/E of 16.12X and a P/CF of 12.33X.
The Medical - Dental Supplies industry is in the top 18% of all the industries we have in our universe, so it looks like there are some nice tailwinds for HSIC and COO, even beyond their own solid fundamental situation.
Henry Schein (HSIC - Free Report) reported $3.46 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 6.7%. EPS of $1.27 for the same period compares to $1.10 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.36 billion, representing a surprise of +2.8%. The company delivered an EPS surprise of +4.1%, with the consensus EPS estimate being $1.22.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Henry Schein performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- International Distribution and Value-Added Services- Dental: $935 million versus the four-analyst average estimate of $889.96 million. The reported number represents a year-over-year change of +10.9%.Geographic Revenue- International Distribution and Value-Added Services- Medical: $30 million versus the four-analyst average estimate of $30.38 million. The reported number represents a year-over-year change of +7.1%.Geographic Revenue- U.S. Distribution and Value-Added Services: $1.95 billion compared to the $1.9 billion average estimate based on four analysts. The reported number represents a change of +4.6% year over year.Geographic Revenue- U.S. Distribution and Value-Added Services- Dental- Merchandise: $652 million versus the four-analyst average estimate of $613.29 million. The reported number represents a year-over-year change of +8.3%.Net Sales- Global Specialty Products: $419 million compared to the $406.78 million average estimate based on five analysts. The reported number represents a change of +8.6% year over year.Net Sales- Global Technology: $181 million versus the five-analyst average estimate of $174.78 million. The reported number represents a year-over-year change of +8.4%.Net Sales- Global Distribution and Value-Added Services: $2.91 billion versus $2.82 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.6% change.Net Sales- Eliminations: $-53 million versus $-44.68 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +20.5% change.Net Sales- Global Distribution and Value-Added Services- Global Dental: $1.85 billion compared to the $1.78 billion average estimate based on four analysts. The reported number represents a change of +8.1% year over year.Net Sales- Global Distribution and Value-Added Services- Global Medical: $1.06 billion versus $1.05 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4% change.Geographic Revenue- International Distribution and Value-Added Services: $965 million compared to the $920.35 million average estimate based on four analysts. The reported number represents a change of +10.8% year over year.Net Sales- Global Distribution and Value-Added Services- Global Dental- Global Equipment: $456 million versus $454.24 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.9% change.View all Key Company Metrics for Henry Schein here>>>
Shares of Henry Schein have returned -0.1% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Key Takeaways Henry Schein beat Q2 earnings and revenue estimates as internal sales growth accelerated.HSIC raised 2026 earnings and sales growth guidance after strong second-quarter results.Henry Schein expanded margins as technology, dental and specialty sales increased. Henry Schein, Inc. (HSIC - Free Report) reported second-quarter 2026 adjusted earnings of $1.27 per share, up 15.5% year over year. The bottom line surpassed the Zacks Consensus Estimate by 4.1%.
Net sales rose 6.7% to $3.46 billion and beat the consensus estimate by 2.8%. Results benefited from 4.6% internal sales growth, with gains across distribution, specialty products and technology. Acquisitions contributed 0.7% to growth, while foreign currency movements added 1.4%.
Following the announcement, HSIC’s shares edged up 0.1% in the pre-market session today.
Henry Schein’s Distribution Business GainsGlobal Distribution and Value-Added Services sales increased 6.6% to $2.91 billion. The segment generated 4.5% internal growth, a 0.6% contribution from acquisitions and a 1.5% foreign exchange benefit.
Global Medical Distribution sales advanced 4% to $1.06 billion, supported by 3.9% internal growth. Global Value-Added Services sales increased 5.1% to $61 million, reflecting 3.7% internal growth.
U.S. Distribution and Value-Added Services sales rose 4.6% to $1.95 billion. International sales in the segment climbed 10.7% to $965 million, aided by 5.5% internal growth and a 4.5% currency benefit.
HSIC’s Specialty and Technology Sales RiseGlobal Specialty Products sales increased 8.7% to $419 million. Internal growth was 3.2%, acquisitions contributed 3.4% and foreign currency exchange added 2.1%.
Global Technology sales advanced 8.2% to $181 million. Internal sales grew 9.1%, partly offset by a 1.3% reduction related to a business disposal. Foreign exchange contributed 0.4%.
Technology delivered the company’s highest internal growth rate among its major reporting categories. The performance complemented steady gains in dental merchandise, medical distribution and specialty products.
HSIC’s Margin PerformanceIn the reported quarter, gross profit totaled $1.10 billion, representing an 8.4% increase year over year. The gross margin expanded 48 basis points (bps) to 31.8% despite a 6% rise in the cost of sales.
Selling, general and administrative expenses increased 6.8% to $831 million. Operating income rose 13.2% to $171 million, while the operating margin expanded 28 bps year over year to 4.9%.
Liquidity Position of HSICHenry Schein exited the second quarter of 2026 with cash and cash equivalents of $157 million compared with $138 million at March-end.
Cumulative net cash provided by operating activities at the end of the reported quarter was $145 million compared with $157 million a year ago.
Henry Schein Raises Its 2026 OutlookManagement raised its 2026 adjusted earnings guidance to $5.29-$5.39 per share, from the earlier $5.23-$5.37 range. The Zacks Consensus Estimate for earnings currently stands at $5.32 per share.
The company also lifted its total sales growth forecast to 4.5%-5.5% from 3%-5%. The Zacks Consensus Estimate for sales is currently pegged at $13.72 billion, indicating 4.1% year-over-year growth.
Adjusted EBITDA is now expected to grow at a mid- to high-single-digit rate, compared with the prior expectation of mid-single-digit growth. Management cited sustained business momentum, margin improvement and early benefits from its value creation initiatives.
The updated outlook assumes foreign exchange rates remain generally consistent with current levels. It excludes future tariff refunds, remeasurement gains and several items that management does not consider representative of underlying performance.
Our TakeHenry Schein exited the second quarter with both earnings and revenue beating estimates. Performance was driven by sustained momentum across the company’s businesses and solid operational execution by the team. Henry Schein also benefited from the early impact of its value creation initiatives, which supported stronger adjusted bottom-line growth. The raised guidance for the year is also very promising.
HSIC’s Zacks Rank and Key PicksHenry Schein currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Labcorp Holdings (LH - Free Report) , Quest Diagnostics (DGX - Free Report) and Medpace (MEDP - Free Report) .
Labcorp, carrying a Zacks Rank #2 (Buy), reported second-quarter 2026 adjusted EPS of $4.99, which surpassed the Zacks Consensus Estimate by 4.18%. Revenues of $3.73 billion beat the Zacks Consensus Estimate by 0.36%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
LH has an earnings yield of 5.9% compared with the industry’s 4.1% yield. The company's earnings beat estimates in each of the trailing four quarters, the average surprise being 3.09%.
Quest Diagnostics, carrying a Zacks Rank #2 at present, posted second-quarter 2026 adjusted EPS of $3.12, exceeding the Zacks Consensus Estimate by 11%. Revenues of $3.04 billion topped the Zacks Consensus Estimate by 2.1%.
DGX has an earnings yield of 4.7%, almost in line with the industry’s yield. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 5.77%.
Medpace, carrying a Zacks Rank #2 at present, posted second-quarter 2026 adjusted EPS of $4.25, exceeding the Zacks Consensus Estimate by 4.17%. Revenues of $707.3 million outperformed the consensus mark by 1.12%.
MEDP has an historical five-year earnings growth rate of 30.5% compared with the industry’s 5.6% growth. In the trailing four quarters, the company delivered an average earnings beat of 10.16%.
Henry Schein NASDAQ: HSIC reported higher second-quarter sales, operating margins and earnings, citing accelerating internal sales growth, market-share gains in dental merchandise and early benefits from its value-creation program. The company also raised its full-year sales and adjusted earnings guidance.
Chief Executive Officer Fred Lowery said the company’s second-quarter performance reflected sustained momentum across its businesses, strong gross margins and operational execution. He said Henry Schein is focused on accelerating growth, simplifying its operations, strengthening customer relationships and improving profitability.
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“Our first half performance and the sustained momentum have positioned us to raise our full year 2026 guidance,” Lowery said.
Second-Quarter Financial Results Global sales totaled $3.5 billion in the second quarter, up 6.7% from the prior-year period. The increase included 4.6% internal local-currency sales growth, a 1.4% benefit from foreign exchange and 0.7% growth from acquisitions, according to Senior Vice President and Chief Financial Officer Ron South.
GAAP net income rose to $94 million, or $0.82 per diluted share, from $86 million, or $0.70 per diluted share, a year earlier. On a non-GAAP basis, net income was $145 million, or $1.27 per diluted share, compared with $135 million, or $1.10 per diluted share, in the second quarter of 2025.
Non-GAAP operating income increased 10.5%, while non-GAAP diluted earnings per share rose 15.5%, South said. Adjusted EBITDA grew 12.7% to $288 million.
GAAP operating margin expanded 27 basis points year over year to 4.94%, while non-GAAP operating margin increased 25 basis points to 7.21%. South attributed the non-GAAP margin improvement to gross-margin expansion across all segments.
Dental, Medical and Technology Performance Henry Schein’s Global Distribution and Value-Added Services Group posted sales growth of 6.6%. U.S. dental merchandise sales increased 8.3%, including 6.5% internal local-currency growth, driven by pricing and higher volume. Lowery said the company believes patient traffic remained stable and that it gained market share during the period.
Lowery said U.S. dental merchandise growth included “a little more price than volume,” and the company expects growth in a similar range during the second half despite more challenging comparisons. He cited growth in company-owned brands, strength with dental support organizations, conversion of occasional purchasers into more active customers, and demand for exclusive products including Curadont.
U.S. dental equipment sales declined 1.1%, primarily due to difficult comparisons with several large dental-school orders in the prior-year quarter. The company reported modest growth in digital equipment and said its backlog supports expectations for U.S. dental equipment growth during the remainder of 2026.
U.S. medical distribution sales grew 3.8%, despite lower demand for point-of-care diagnostic products. Government-related operations and Home Health Solutions were areas of strength. Lowery said Home Health Solutions sales rose at a high-single-digit pace and that the business offers faster growth and better margins than the broader core medical market.
International dental merchandise sales increased 11.1%, including 5.4% internal local-currency growth, led by Canada, France, Brazil and Australia. International dental equipment sales rose 8.7%, with 5.4% internal local-currency growth.
The Global Specialty Products Group recorded sales growth of 8.7%, including 3.2% internal local-currency growth. Implant and biomaterials sales contributed to the gain. Lowery said premium implant growth was particularly strong in Europe, while U.S. growth was more modest because the domestic implant market was not expanding as quickly as Europe, the Middle East and Africa.
The Global Technology Group grew sales 8.2%, including 9.1% internal local-currency growth. Nearly 13,000 customers now subscribe to the company’s Dentrix Ascend and Dentally cloud-based platforms. About 90% of Henry Schein One revenue is recurring, Lowery said.
June set a record for new Dentrix Ascend customers, according to Lowery. Average monthly revenue per customer is approximately $500 across Henry Schein One, compared with approximately $800 for Dentrix Ascend customers. The company said customers are increasingly upgrading to higher-featured packages.
Value-Creation Program and Operating Changes Henry Schein reiterated its goal of generating more than $200 million in operating-income improvements from value-creation initiatives over the next several years, including a $125 million run rate by the end of 2026. The company recorded $29 million in restructuring expenses during the second quarter related to these efforts.
South said the company expects about 40% of its 2026 operating-income improvement from gross-profit initiatives and 60% from general and administrative expense savings. Beyond 2026, benefits are expected to be more heavily weighted toward G&A savings.
Lowery said the company has selected a global outsourcing provider for finance and customer-service functions and has begun the first phase in the United States. Initial labor-cost benefits are expected to begin in the third quarter. He said the project is expected to account for more than half of the G&A savings tied to the $200 million target.
Other initiatives include centralizing indirect procurement, using sales data to identify pricing and margin opportunities, expanding artificial intelligence capabilities, and deploying supply-chain software intended to improve efficiency, reduce inventory and streamline purchasing.
The company also announced leadership changes intended to remove a management layer, place executives closer to the business and customers, integrate supply chain more closely with distribution, and improve decision-making speed and execution consistency.
Raised 2026 Outlook Henry Schein raised its full-year sales growth outlook to 4.5% to 5.5%, from its prior range of 3% to 5%. The company expects second-half internal local-currency sales growth of approximately 3.5% to 4.5%.
The company now expects 2026 non-GAAP diluted earnings per share of $5.29 to $5.39, representing 6% to 8% growth from 2025 non-GAAP EPS of $4.97. Its previous outlook was $5.23 to $5.37 per share.
South said the higher outlook reflects stronger expected underlying sales performance, partially offset by lower remeasurement gains than originally anticipated. Henry Schein expects no additional remeasurement gains for the remainder of 2026. The company expects fourth-quarter earnings growth to exceed third-quarter growth as sales momentum continues and value-creation initiatives generate increasing benefits.
During the second quarter, Henry Schein repurchased approximately 2.6 million shares for $200 million at an average price of $76.69 per share. The company had approximately $455 million remaining under its share-repurchase authorization at quarter-end.
About Henry Schein (NASDAQ:HSIC)Henry Schein, Inc is a leading global distributor of healthcare products and services, primarily serving office-based dental, medical and animal health practitioners. The company operates through three principal segments—Schein Dental, Schein Medical and Animal Health—each offering a comprehensive portfolio of consumable products, equipment, instruments and related value-added services. With a focus on improving practice efficiency and patient care, Henry Schein provides everything from dental restorative materials and orthodontic appliances to vaccines, pharmaceuticals and diagnostic devices for physicians, as well as pet health products and veterinary equipment for animal health professionals.
In addition to its broad product offering, Henry Schein delivers a suite of technology and service solutions aimed at streamlining workflows and enhancing clinical outcomes.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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California State Teachers Retirement System raised its position in Henry Schein, Inc. (NASDAQ:HSIC – Free Report) by 16.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,992 shares of the company’s stock after buying an additional 17,418 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Henry Schein worth $9,138,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Henry Schein by 4.1% in the 3rd quarter. Invesco Ltd. now owns 4,731,698 shares of the company’s stock valued at $314,043,000 after purchasing an additional 184,763 shares during the last quarter. Southpoint Capital Advisors LP grew its position in Henry Schein by 28.0% in the first quarter. Southpoint Capital Advisors LP now owns 3,200,000 shares of the company’s stock valued at $235,840,000 after acquiring an additional 700,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Henry Schein by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,873,004 shares of the company’s stock valued at $211,734,000 after acquiring an additional 56,687 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Henry Schein by 11.3% during the third quarter. Ameriprise Financial Inc. now owns 2,523,014 shares of the company’s stock worth $167,453,000 after acquiring an additional 256,156 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Henry Schein by 3,655.7% in the fourth quarter. Bank of Montreal Can now owns 2,144,773 shares of the company’s stock worth $162,102,000 after acquiring an additional 2,087,666 shares during the last quarter. 96.62% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth Several equities analysts recently commented on the stock. BMO Capital Markets started coverage on shares of Henry Schein in a research note on Wednesday, July 8th. They issued a “market perform” rating and a $85.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Henry Schein in a report on Friday. Citigroup initiated coverage on Henry Schein in a research note on Wednesday, April 15th. They issued a “buy” rating and a $100.00 price target for the company. UBS Group reissued a “neutral” rating and set a $89.00 price objective (up from $85.00) on shares of Henry Schein in a report on Tuesday, July 28th. Finally, BTIG Research upgraded Henry Schein from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Thursday, June 11th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.36.
Get Our Latest Analysis on Henry Schein
Henry Schein Stock Up 0.9% Shares of NASDAQ:HSIC opened at $86.51 on Tuesday. The firm has a market cap of $9.86 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.65 and a beta of 0.80. Henry Schein, Inc. has a 12-month low of $61.94 and a 12-month high of $89.34. The business has a fifty day simple moving average of $82.44 and a 200 day simple moving average of $78.38. The company has a quick ratio of 0.75, a current ratio of 1.36 and a debt-to-equity ratio of 0.59.
Henry Schein (NASDAQ:HSIC – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.34 billion. Henry Schein had a return on equity of 15.44% and a net margin of 2.95%.The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 EPS. Analysts predict that Henry Schein, Inc. will post 5.32 earnings per share for the current year.
Insider Buying and Selling In other news, Director William K. Daniel purchased 10,000 shares of the stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $69.19 per share, for a total transaction of $691,900.00. Following the acquisition, the director owned 20,000 shares in the company, valued at $1,383,800. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is owned by insiders.
About Henry Schein (Free Report)
Henry Schein, Inc is a leading global distributor of healthcare products and services, primarily serving office-based dental, medical and animal health practitioners. The company operates through three principal segments—Schein Dental, Schein Medical and Animal Health—each offering a comprehensive portfolio of consumable products, equipment, instruments and related value-added services. With a focus on improving practice efficiency and patient care, Henry Schein provides everything from dental restorative materials and orthodontic appliances to vaccines, pharmaceuticals and diagnostic devices for physicians, as well as pet health products and veterinary equipment for animal health professionals.
In addition to its broad product offering, Henry Schein delivers a suite of technology and service solutions aimed at streamlining workflows and enhancing clinical outcomes.
Further Reading Five stocks we like better than Henry Schein SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control Why Rare Earth Processing Could Be the Real 2027 Opportunity The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks? Want to see what other hedge funds are holding HSIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Henry Schein, Inc. (NASDAQ:HSIC – Free Report).
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Henry Schein (HSIC - Free Report) came out with quarterly earnings of $1.27 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $1.1 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +4.10%. A quarter ago, it was expected that this health care products maker would post earnings of $1.2 per share when it actually produced earnings of $1.32, delivering a surprise of +10%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Henry Schein, which belongs to the Zacks Medical - Dental Supplies industry, posted revenues of $3.46 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.80%. This compares to year-ago revenues of $3.24 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Henry Schein shares have added about 14.5% since the beginning of the year versus the S&P 500's gain of 11%.
What's Next for Henry Schein?While Henry Schein has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Henry Schein was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.35 on $3.45 billion in revenues for the coming quarter and $5.32 on $13.72 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Dental Supplies is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Becton Dickinson (BDX - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.
This medical device manufacturer is expected to post quarterly earnings of $3.14 per share in its upcoming report, which represents a year-over-year change of -14.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Becton Dickinson's revenues are expected to be $4.89 billion, down 11.2% from the year-ago quarter.
MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of healthcare solutions to office-based dental and medical practitioners, today reported financial results for the second quarter ended June 27, 2026.
“We delivered strong sales performance and margin improvement in the second quarter, driven by sustained momentum across our businesses and solid operational execution by the team," said Fred Lowery, Chief Executive Officer of Henry Schein.
Share “We delivered strong sales performance and margin improvement in the second quarter, driven by sustained momentum across our businesses and solid operational execution by the team. Internal local currency sales growth accelerated compared to the first quarter, which, combined with strong gross margins and the early benefits from our value creation initiatives, drove strong earnings growth,” said Fred Lowery, Chief Executive Officer of Henry Schein. “Our first-half performance and the sustained momentum have positioned us to raise our FY2026 guidance.”
“Our value creation plans remain a top focus for our team, and we are on track to achieve our goals. As we sharpen our focus, our priorities ahead are accelerating growth, simplifying our business, driving operational rigor, and further deepening our customer relationships, all of which we believe will create sustainable shareholder value,” Mr. Lowery added.
Second Quarter 2026 Financial Results
Total net sales for the quarter were $3.5 billion, an increase of 6.7% compared to the second quarter of 2025 and reflects 4.6% internal sales growth, 0.7% sales growth from acquisitions, and a 1.4% increase resulting from foreign currency exchange. Second quarter sales growth is detailed in Exhibit A1. Global Distribution and Value-Added Services sales for the quarter increased 6.6%, and reflects 4.5% internal sales growth, 0.6% sales growth from acquisitions, and a 1.5% increase resulting from foreign currency exchange compared with the second quarter of 2025. The main components are: Global Dental Distribution merchandise sales for the quarter increased 9.7%, and by 5.9% internal sales growth, compared with the second quarter of 2025. Global Dental Distribution equipment sales for the quarter increased 3.8%, and by 2.2% internal sales growth, compared with the second quarter of 2025. Global Medical Distribution sales for the quarter increased 4.0%, and by 3.9% internal sales growth, compared with the second quarter of 2025. Global Value-Added Services sales for the quarter increased 5.1%, and by 3.7% internal sales growth, compared with the second quarter of 2025. Global Specialty Products sales for the quarter increased 8.7%, and reflects 3.2% internal sales growth, 3.4% sales growth from acquisitions, and a 2.1% increase resulting from foreign currency exchange, compared with the second quarter of 2025. Global Technology sales for the quarter increased 8.2%, and reflects 9.1% internal sales growth,1.3% sales decrease due to a business disposal, and a 0.4% increase resulting from foreign currency exchange, compared with the second quarter of 2025. GAAP net income2 for the quarter was $94 million, or $0.82 per diluted share4, and compares with second-quarter 2025 GAAP net income of $86 million, or $0.70 per diluted share. Non-GAAP net income2 for the quarter was $145 million, or $1.27 per diluted share4, and compares with second-quarter 2025 non-GAAP net income of $135 million, or $1.10 per diluted share. Adjusted EBITDA3 for the quarter was $288 million and compares with second-quarter 2025 Adjusted EBITDA of $256 million. Year-to-Date Financial Results
Total net sales for the first half of 2026 were $6.8 billion, an increase of 6.5% compared to the first half of 2025 and reflects 3.6% internal sales growth, 0.7% sales growth from acquisitions, and a 2.2% increase resulting from foreign currency exchange. Year-to-date sales growth is detailed in Exhibit A1. GAAP net income2 for the first half of 2026 was $201 million, or $1.74 per diluted share4, and compares with GAAP net income for the first half of 2025 of $196 million, or $1.58 per diluted share. Non-GAAP net income2 for the first half of 2026 was $298 million, or $2.59 per diluted share4, and compares with non-GAAP net income for the first half of 2025 of $278 million, or $2.25 per diluted share. Adjusted EBITDA3 for the first half of 2026 was $577 million, and compares with Adjusted EBITDA for the first half of 2025 of $515 million. Share Repurchases
During the second quarter of 2026, the Company repurchased approximately 2.6 million shares of common stock at an average price of $76.69 per share for a total of $200 million.
For the year-to-date, the Company repurchased approximately 4.2 million shares of common stock at an average price of $77.05 per share for a total of $325 million.
At the end of the quarter, Henry Schein had $455 million authorized and available for future stock repurchases.
2026 Financial Guidance
Henry Schein today raised its financial guidance for 2026. Guidance is for current continuing operations and does not include the impact of restructuring expenses and related costs, amortization expense of acquired intangible assets, the impairment of intangible assets, changes in contingent consideration, select implementation-related costs supporting value creation initiatives, and litigation settlements. This guidance also assumes that foreign currency exchange rates remain generally consistent with current levels.
The Company’s FY2026 guidance does not include any remeasurement gains for the remainder of 2026, or any future benefits from tariff refunds. In summary, the change in financial guidance is as follows:
Updated
Guidance
Prior
Guidance
2026 non-GAAP diluted EPS4
$5.29 to $5.39
$5.23 to $5.37
2026 total sales growth
4.5% to 5.5%
3% to 5%
2026 Adjusted EBITDA growth
Mid to high-
single-digits
Mid-single-digits
Adjustments to 2026 GAAP Net Income and Diluted EPS
The Company is providing guidance for 2026 diluted EPS and for 2026 Adjusted EBITDA on a non-GAAP basis, as noted above. The Company is not providing a reconciliation of its 2026 non-GAAP diluted EPS guidance to its projected 2026 diluted EPS prepared on a GAAP basis, or its 2026 Adjusted EBITDA guidance to net income prepared on a GAAP basis. This is because the Company is unable to provide without unreasonable effort an estimate of restructuring expenses and related or similar costs, including its ongoing value creation initiatives, and the corresponding tax effect, which will be included in the Company’s 2026 diluted EPS and net income, prepared on a GAAP basis. The inability to provide this reconciliation is due to the uncertainty and inherent difficulty of predicting the occurrence, magnitude, financial impact and timing of related costs.
Management does not believe these items are representative of the Company’s underlying business performance. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.
Second-Quarter 2026 Conference Call Webcast
The Company will hold a conference call to discuss second-quarter 2026 financial results today, beginning at 8:00 a.m. Eastern time. Individual investors are invited to listen to the conference call through Henry Schein’s website by visiting https://investor.henryschein.com/webcasts. In addition, a replay will be available beginning shortly after the call has ended for a period of one week.
The Company will be posting slides that provide a summary of its second-quarter 2026 financial results on its website at https://investor.henryschein.com/financials/quarterly-results/
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a products, services, and technology platforms company for healthcare customers. With more than 25,000 Team Schein Members worldwide, the Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Our Business, Clinical, Technology and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional healthcare clinics, as well as other alternate care sites.
Henry Schein operates through a centralized and automated distribution network, with a selection of more than 300,000 branded products and Henry Schein corporate brand products in our main distribution centers.
A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 34 countries and territories. The Company's sales reached $13.2 billion in 2025, and have grown at a compound annual rate of approximately 11.0 percent since Henry Schein became a public company in 1995.
For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, Instagram.com/HenrySchein, and @HenrySchein on X.
Cautionary Note Regarding Forward-Looking Statements and Use of Non-GAAP Financial Information
In accordance with the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. All forward-looking statements made by us are subject to risks and uncertainties and are not guarantees of future performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
These statements include total sales growth, EPS and Adjusted EBITDA guidance and are generally identified by the use of such terms as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “forecast,” “project,” “anticipate,” “to be,” “to make”, or other comparable terms. A fuller discussion of our operations, financial condition and status of litigation matters, including factors that may affect our business and future prospects, is contained in documents we file with the United States Securities and Exchange Commission, or SEC, including our Annual Report on Form 10-K, and will be contained in subsequent periodic filings we make with the SEC. These documents identify in detail important risk factors that could cause our actual performance to differ materially from current expectations.
Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: our dependence on third parties for the manufacture and supply of our products and where we manufacture products, our dependence on third parties for raw materials or purchased components; risks relating to the achievement of our strategic growth objectives, including anticipated results of restructuring and value creation initiatives; risks related to the Strategic Partnership Agreement with KKR Hawaii Aggregator L.P. entered into in January 2025; transitions in senior company leadership (including, without limitation, the transition to our new Chief Executive Officer); our ability to develop or acquire and maintain and protect new products (particularly technology and specialty products) and services and utilize new technologies that achieve market acceptance with acceptable margins; transitional challenges associated with acquisitions and joint ventures, including the failure to achieve anticipated synergies/benefits, as well as significant demands on our operations, information systems, legal, regulatory, compliance, financial and human resources functions in connection with acquisitions, dispositions and joint ventures; certain provisions in our governing documents that may discourage third-party acquisitions of us; adverse changes in supplier rebates or other purchasing incentives; risks related to the sale of corporate brand products; risks related to activist investors; security risks associated with our information systems and technology products and services, such as cyberattacks or other privacy or data security breaches (including the October 2023 incident); effects of a highly competitive (including, without limitation, competition from third-party online commerce sites) and consolidating market; political, economic, and regulatory influences on the health care industry; risks from expansion of customer purchasing power and multi-tiered costing structures; increases in shipping costs for our products or other service issues with our third-party shippers, and increases in fuel and energy costs; changes in laws and policies governing manufacturing, development and investment in territories and countries where we do business; general global and domestic macro-economic and political conditions, including inflation, deflation, recession, unemployment (and corresponding increase in under-insured populations), consumer confidence, sovereign debt levels, fluctuations in energy pricing and the value of the U.S. dollar as compared to foreign currencies and changes to other economic indicators; failure to comply with existing and future regulatory requirements, including relating to health care; risks associated with the EU Medical Device Regulation; failure to comply with laws and regulations relating to health care fraud or other laws and regulations; failure to comply with laws and regulations relating to the collection, storage and processing of sensitive personal information or standards in electronic health records or transmissions; changes in tax legislation, changes in tax rates and availability of certain tax deductions; risks related to product liability, intellectual property and other claims; risks associated with customs policies or legislative import restrictions; risks associated with disease outbreaks, epidemics, pandemics (such as the COVID-19 pandemic), or similar wide-spread public health concerns and other natural or man-made disasters; risks associated with our global operations; the threat or outbreak of war (including, without limitation, geopolitical wars), terrorism or public unrest (including, without limitation, the wars in Ukraine and Iran, the Israel-Gaza war and other unrest and threats in the Middle East and the possibility of a wider European or global conflict); changes to laws and policies governing foreign trade, tariffs and sanctions or greater restrictions on imports and exports, including changes to international trade agreements and the current imposition of (and the potential for additional) tariffs by the U.S. on numerous countries and retaliatory tariffs; supply chain disruption; litigation risks; new or unanticipated litigation developments and the status of litigation matters; our dependence on our senior management, employee hiring and retention, increases in labor costs or health care costs, and our relationships with customers, suppliers and manufacturers; and disruptions in financial markets. The order in which these factors appear should not be construed to indicate their relative importance or priority.
We caution that these factors may not be exhaustive and that many of these factors are beyond our ability to control or predict. Accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. We undertake no duty and have no obligation to update forward-looking statements except as required by law.
Included within the press release are non-GAAP financial measures that supplement the Company’s Consolidated Statements of Income prepared under generally accepted accounting principles (GAAP). These non-GAAP financial measures adjust the Company’s actual results prepared under GAAP to exclude certain items. In the schedule attached to the press release, the non-GAAP measures have been reconciled to and should be considered together with the Consolidated Statements of Income. Management believes that non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance and allow for greater transparency with respect to key metrics used by management in operating our business. The impact of certain items that are excluded include integration and restructuring costs, amortization of acquisition-related assets, the insurance claim recovery associated with the cybersecurity incident, changes in contingent consideration, costs associated with shareholder advisory matters and select value creation consulting costs, and litigation settlements because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate and occur on an unpredictable basis. These non-GAAP financial measures are presented solely for informational and comparative purposes and should not be regarded as a replacement for corresponding, similarly captioned, GAAP measures.
(TABLES TO FOLLOW)
HENRY SCHEIN, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in millions, except share and per share data)
(unaudited)
Three Months Ended
Six Months Ended
June 27,
June 28,
June 27,
June 28,
2026
2025
2026
2025
Net sales
$
3,458
$
3,240
$
6,826
$
6,408
Cost of sales
2,357
2,224
4,655
4,392
Gross profit
1,101
1,016
2,171
2,016
Operating expenses:
Selling, general and administrative
831
778
1,640
1,516
Depreciation and amortization
70
64
137
126
Restructuring and related costs
29
23
41
48
Operating income
171
151
353
326
Other income (expense):
Interest income
8
9
15
15
Interest expense
(43)
(38)
(82)
(73)
Other, net
1
(1)
1
(2)
Income before taxes, equity in earnings of affiliates and noncontrolling interests
137
121
287
266
Income taxes
(34)
(31)
(72)
(66)
Equity in earnings (loss) of affiliates, net of tax
(1)
4
(1)
7
Net income
102
94
214
207
Less: Net income attributable to noncontrolling interests
(8)
(8)
(13)
(11)
Net income attributable to Henry Schein, Inc.
$
94
$
86
$
201
$
196
Earnings per share attributable to Henry Schein, Inc.:
Basic
$
0.83
$
0.71
$
1.76
$
1.59
Diluted
$
0.82
$
0.70
$
1.74
$
1.58
Weighted-average common shares outstanding:
Basic
113,451,329
121,927,867
114,194,349
122,852,702
Diluted
114,390,366
122,636,948
115,238,506
123,739,381
HENRY SCHEIN, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except share data)
June 27,
December 27,
2026
2025
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents
$
157
$
156
Accounts receivable, net of allowance for credit losses of $97 and $90
1,763
1,651
Inventories, net
2,059
2,002
Prepaid expenses and other
621
655
Total current assets
4,600
4,464
Property and equipment, net
618
621
Operating lease right-of-use assets
322
301
Goodwill
4,272
4,213
Other intangibles, net
965
1,018
Investments and other
604
598
Total assets
$
11,381
$
11,215
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
1,135
$
1,154
Bank credit lines
1,024
764
Current maturities of long-term debt
138
33
Operating lease liabilities
76
78
Accrued expenses:
Payroll and related
307
340
Taxes
199
179
Other
609
680
Total current liabilities
3,488
3,228
Long-term debt
2,300
2,310
Deferred income taxes
153
146
Operating lease liabilities
275
251
Other liabilities
442
486
Total liabilities
6,658
6,421
Redeemable noncontrolling interests
906
895
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 1,000,000 shares authorized,
none outstanding
-
-
Common stock, $0.01 par value, 480,000,000 shares authorized,
111,916,222 issued and outstanding on June 27, 2026 and
115,771,149 issued and outstanding on December 27, 2025
1
1
Additional paid-in capital
140
177
Retained earnings
3,200
3,293
Accumulated other comprehensive loss
(184)
(226)
Total Henry Schein, Inc. stockholders' equity
3,157
3,245
Noncontrolling interests
660
654
Total stockholders' equity
3,817
3,899
Total liabilities, redeemable noncontrolling interests and stockholders' equity
$
11,381
$
11,215
HENRY SCHEIN, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)/(unaudited)
Three Months Ended
Six Months Ended
June 27,
June 28,
June 27,
June 28,
2026
2025
2026
2025
Cash flows from operating activities:
Net income
$
102
$
94
$
214
$
207
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization
84
76
165
149
Impairment charge on intangible assets
-
-
-
1
Non-cash restructuring charges
2
2
4
3
Stock-based compensation expense
13
11
16
16
Provision for losses on trade and other accounts receivable
2
3
8
5
Benefit from deferred income taxes
(10)
-
(8)
(7)
Equity in (earnings) losses of affiliates
1
(4)
1
(7)
Distributions from equity affiliates
1
6
4
8
Changes in unrecognized tax benefits
(3)
(3)
(4)
(1)
Other
6
(4)
(21)
(31)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable
(47)
(26)
(116)
(100)
Inventories
(57)
(15)
(49)
(29)
Other current assets
4
(38)
10
37
Accounts payable and accrued expenses
144
18
(79)
(94)
Net cash provided by operating activities
242
120
145
157
Cash flows from investing activities:
Purchases of property and equipment
(30)
(32)
(55)
(63)
Payments related to equity investments and business acquisitions,
net of cash acquired
(6)
(50)
(30)
(101)
Proceeds from loan to affiliate
1
2
2
2
Capitalized software costs
(16)
(14)
(30)
(26)
Other
(14)
(4)
(15)
(9)
Net cash used in investing activities
(65)
(98)
(128)
(197)
Cash flows from financing activities:
Net change in bank credit lines
(22)
33
261
248
Proceeds from issuance of long-term debt
87
94
144
244
Principal payments for long-term debt
(11)
(6)
(50)
(21)
Debt issuance costs
-
(2)
-
(2)
Proceeds from issuance of stock upon exercise of stock options
1
-
2
1
Payments for repurchases and retirement of common stock
(200)
(286)
(325)
(447)
Issuance of common stock
-
250
-
250
Payments for taxes related to shares withheld for employee taxes
(3)
(2)
(12)
(14)
Distributions to noncontrolling shareholders
(6)
(14)
(22)
(18)
Payments for contingent consideration
(4)
(7)
(4)
(19)
Acquisitions of noncontrolling interests in subsidiaries
(10)
(4)
(42)
(77)
Net cash provided by (used in) financing activities
(168)
56
(48)
145
Effect of exchange rate changes on cash and cash equivalents
10
(60)
32
(82)
Net change in cash and cash equivalents
19
18
1
23
Cash and cash equivalents, beginning of period
138
127
156
122
Cash and cash equivalents, end of period
$
157
$
145
$
157
$
145
Exhibit A - Second Quarter Sales
Henry Schein, Inc.
2026 Second Quarter
Sales Summary
(in millions)
(unaudited)
Q2 2026 over Q2 2025
Constant Currency
Growth
Q2 2026
Q2 2025
Local Internal Growth
Acquisition Growth
Total Constant Currency Growth
Foreign Exchange Impact
Total Sales Growth
U.S. Distribution and Value-Added Services
Merchandise
$
652
$
602
6.5%
1.8%
8.3%
0.0%
8.3%
Equipment
216
219
-1.1%
0.0%
-1.1%
0.0%
-1.1%
Value-Added Services
51
51
1.4%
0.0%
1.4%
0.0%
1.4%
Total Dental
919
872
4.3%
1.3%
5.6%
0.0%
5.6%
Medical
1,027
988
3.8%
0.0%
3.8%
0.0%
3.8%
Total U.S. Distribution and Value-Added Services
1,946
1,860
4.0%
0.6%
4.6%
0.0%
4.6%
International Distribution and Value-Added Services
Merchandise
685
616
5.4%
0.9%
6.3%
4.8%
11.1%
Equipment
240
220
5.4%
0.0%
5.4%
3.3%
8.7%
Value-Added Services
10
7
19.9%
5.8%
25.7%
5.6%
31.3%
Total Dental
935
843
5.5%
0.8%
6.3%
4.3%
10.6%
Medical
30
28
5.7%
0.0%
5.7%
6.0%
11.7%
Total International Distribution and Value-Added Services
965
871
5.5%
0.7%
6.2%
4.5%
10.7%
Global Distribution and Value-Added Services
Global Merchandise
1,337
1,218
5.9%
1.4%
7.3%
2.4%
9.7%
Global Equipment
456
439
2.2%
0.0%
2.2%
1.6%
3.8%
Global Value-Added Services
61
58
3.7%
0.7%
4.4%
0.7%
5.1%
Global Dental
1,854
1,715
4.9%
1.0%
5.9%
2.2%
8.1%
Global Medical
1,057
1,016
3.9%
0.0%
3.9%
0.1%
4.0%
Total Global Distribution and Value-Added Services
2,911
2,731
4.5%
0.6%
5.1%
1.5%
6.6%
Global Specialty Products
419
386
3.2%
3.4%
6.6%
2.1%
8.7%
Global Technology
181
167
9.1%
-1.3%
7.8%
0.4%
8.2%
Eliminations
(53)
(44)
n/a
n/a
n/a
n/a
n/a
Total Global
$
3,458
$
3,240
4.6%
0.7%
5.3%
1.4%
6.7%
Exhibit A - Year-to-Date Sales
Henry Schein, Inc.
2026 Second Quarter Year-to-Date
Sales Summary
(in millions)
(unaudited)
Q2 2026 Year-to-Date over Q2 2025 Year-to-Date
Constant Currency
Growth
Q2 2026
Q2 2025
Local Internal Growth
Acquisition Growth
Total Constant Currency Growth
Foreign Exchange Impact
Total Sales Growth
U.S. Distribution and Value-Added Services
Merchandise
$
1,276
$
1,193
5.3%
1.7%
7.0%
0.0%
7.0%
Equipment
410
406
1.0%
0.0%
1.0%
0.0%
1.0%
Value-Added Services
99
96
3.6%
0.0%
3.6%
0.0%
3.6%
Total Dental
1,785
1,695
4.2%
1.1%
5.3%
0.0%
5.3%
Medical
2,070
2,018
2.5%
0.0%
2.5%
0.0%
2.5%
Total U.S. Distribution and Value-Added Services
3,855
3,713
3.3%
0.5%
3.8%
0.0%
3.8%
International Distribution and Value-Added Services
Merchandise
1,353
1,210
3.6%
1.0%
4.6%
7.2%
11.8%
Equipment
463
417
4.5%
0.0%
4.5%
6.4%
10.9%
Value-Added Services
19
14
19.5%
7.5%
27.0%
8.9%
35.9%
Total Dental
1,835
1,641
4.0%
0.8%
4.8%
7.0%
11.8%
Medical
60
53
5.2%
0.0%
5.2%
8.6%
13.8%
Total International Distribution and Value-Added Services
1,895
1,694
4.0%
0.8%
4.8%
7.0%
11.8%
Global Distribution and Value-Added Services
Global Merchandise
2,629
2,403
4.5%
1.3%
5.8%
3.6%
9.4%
Global Equipment
873
823
2.8%
0.0%
2.8%
3.2%
6.0%
Global Value-Added Services
118
110
5.6%
1.0%
6.6%
1.1%
7.7%
Global Dental
3,620
3,336
4.1%
1.0%
5.1%
3.4%
8.5%
Global Medical
2,130
2,071
2.6%
0.0%
2.6%
0.2%
2.8%
Total Global Distribution and Value-Added Services
5,750
5,407
3.5%
0.6%
4.1%
2.2%
6.3%
Global Specialty Products
816
753
2.2%
2.8%
5.0%
3.4%
8.4%
Global Technology
354
329
8.0%
-1.3%
6.7%
0.9%
7.6%
Eliminations
(94)
(81)
n/a
n/a
n/a
n/a
n/a
Total Global
$
6,826
$
6,408
3.6%
0.7%
4.3%
2.2%
6.5%
Exhibit B
Henry Schein, Inc.
2026 Second Quarter and Year-to-Date
Reconciliation of reported GAAP net income and diluted EPS attributable to Henry Schein, Inc.
to non-GAAP net income and diluted EPS attributable to Henry Schein, Inc.
(in millions, except per share data)
(unaudited)
Second Quarter
Year-to-Date
%
%
2026
2025
Growth
2026
2025
Growth
Net income attributable to Henry Schein, Inc.
$
94
$
86
9.1%
$
201
$
196
2.7
%
Diluted EPS attributable to Henry Schein, Inc.
$
0.82
$
0.70
17.1%
$
1.74
$
1.58
10.1
%
Non-GAAP Adjustments, net of tax and attribution to noncontrolling interests
Restructuring and related costs (1)
$
20
$
16
$
28
$
33
Acquisition intangible amortization (2)
28
27
55
54
Cyber incident-insurance proceeds, net of third-party advisory expenses (3)
-
-
-
(15)
Change in contingent consideration (4)
(1)
-
-
(2)
Costs associated with shareholder advisory matters and select implementation related value creation consulting costs (5)
4
5
14
11
Litigation settlements (6)
-
1
-
1
Non-GAAP adjustments to net income
$
51
$
49
$
97
$
82
Non-GAAP net income attributable to Henry Schein, Inc.
$
145
$
135
7.7%
$
298
$
278
7.1
%
Non-GAAP diluted EPS attributable to Henry Schein, Inc.
$
1.27
$
1.10
15.5%
$
2.59
$
2.25
15.1
%
Management believes that non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance and allow for greater transparency with respect to key metrics used by management in operating our business. These non-GAAP financial measures are presented solely for informational and comparative purposes and should not be regarded as a replacement for corresponding, similarly captioned, GAAP measures. Net income growth rates are based on actual values and may not recalculate due to rounding. Amounts may not sum due to rounding.
(1)
Restructuring and Related Costs
The following table presents details of our restructuring and related costs:
Second Quarter
Year-to-Date
2026
2025
2026
2025
Restructuring and related costs - pre-tax, as reported
$
29
$
23
$
41
$
48
Income tax benefit
(7)
(5)
(10)
(12)
Amount attributable to noncontrolling interests
(2)
(2)
(3)
(3)
Restructuring and related costs, net
$
20
$
16
$
28
$
33
(2) Acquisition Intangible Amortization
The following table presents details of amortization of acquired intangible assets:
Second Quarter
Year-to-Date
2026
2025
2026
2025
Acquisition intangible amortization - pre-tax, as reported
$
46
$
44
$
91
$
87
Income tax benefit
(12)
(11)
(23)
(21)
Amount attributable to noncontrolling interests
(6)
(6)
(13)
(12)
Acquisition intangible amortization, net
$
28
$
27
$
55
$
54
(3)
Represents cyber insurance proceeds, net of one time professional and other fees related to remediation of our Q4 2023 cyber incident. During Q1 2025, we received insurance proceeds of $20 million ($15 million, net of taxes) under this policy representing the remaining insurance recovery of losses related to the cyber incident.
(4)
Represents a change in the fair value of contingent consideration of $2 million ($1 million, net of taxes) and $1 million ($0 million, net of taxes) recorded during Q2 2026 and YTD 2026, respectively, and $2 million ($2 million, net of taxes) recorded during YTD 2025 related to certain 2023, 2024 and 2025 acquisitions.
(5)
Represents costs associated with shareholder advisory matters and select value creation consulting costs of $6 million ($4 million, net of taxes) and $19 million ($14 million, net of taxes) recorded during Q2 2026 and YTD 2026, respectively, and $6 million ($5 million, net of taxes) and $14 million ($11 million, net of taxes) recorded during Q2 2025 and YTD 2025, respectively.
(6)
Represents settlement amounts for litigation at one of our businesses during Q2 2025 and YTD 2025.
Exhibit C
Henry Schein, Inc.
2026 Second Quarter and Year-to-Date
Reconciliation of reported GAAP net income to Adjusted EBITDA
(in millions)
(unaudited)
Second Quarter
Year-to-Date
2026
2025
2026
2025
Net income attributable to Henry Schein, Inc. (GAAP)
$
94
$
86
$
201
$
196
Net income attributable to noncontrolling interests
8
8
13
11
Net income (GAAP)
102
94
214
207
Definitional adjustments:
Interest income
(8)
(9)
(15)
(15)
Interest expense
43
38
82
73
Income taxes
34
31
72
66
Depreciation and amortization
83
76
164
149
Non-GAAP adjustments:
Restructuring and related costs
29
23
41
48
Cyber incident-insurance proceeds, net of third-party advisory expenses
-
-
-
(20)
Impairment of intangible assets
-
-
-
1
Change in contingent consideration
(2)
-
(1)
(2)
Costs associated with shareholder advisory matters and select implementation related value creation consulting costs
6
6
19
14
Litigation settlements
-
1
-
1
Other adjustments:
Equity in earnings of affiliates, net of tax
1
(4)
1
(7)
Adjusted EBITDA (non-GAAP)
$
288
$
256
$
577
$
515
Adjusted EBITDA is a non-GAAP measure that we calculate in the manner reflected on Exhibit C. We define Adjusted EBITDA as net income, excluding (i) net income attributable to noncontrolling interests, (ii) interest income and expense, (iii) income taxes, (iv) depreciation and amortization, (v) restructuring and related costs, (vi) cyber incident-insurance proceeds, net of third-party advisory expenses, (vii) impairment of intangible assets, (viii) change in contingent consideration, (ix) costs associated with shareholder advisory matters and select implementation related value creation consulting costs, (x) litigation settlements, and (xi) equity in earnings of affiliates, net of tax. Amounts may not sum due to rounding.
Henry Schein Inc (HSIC) released its 8-K filing on August 4, 2026, reporting impressive financial results for the second quarter wrapped up on June 27, 2026. Th
MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC) announced today that it is creating the Henry Schein Leadership Team (HSLT) to replace its Executive Management Committee. The Company will also integrate its global supply chain organization with its global distribution group. The new leadership structure will continue to develop the Company's strategic priorities, accelerate its execution, and enhance enterprise collaboration. “I am pleased to announce a new leadership structu.
Key Takeaways Henry Schein is expected to report Q2 revenues of $3.36 billion, up 3.8% year over year.HSIC may benefit from dental demand, specialty products growth and AI-enabled software momentum.Henry Schein has an Earnings ESP of 0.41% ahead of its Aug. 4 second-quarter earnings release. Henry Schein, Inc. (HSIC - Free Report) is scheduled to release second-quarter 2026 results on Aug. 4, before the opening bell.
In the last reported quarter, the company posted adjusted earnings per share (EPS) of $1.32, which surpassed the Zacks Consensus Estimate by 10%. Henry Schein’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 3.74%.
Q2 Estimates for HSICThe Zacks Consensus Estimate for the company’s second-quarter revenues is pegged at $3.36 billion, which suggests an increase of 3.8% from the year-ago reported figure.
The Zacks Consensus Estimate for second-quarter EPS is pinned at $1.22, indicating a year-over-year improvement of 10.9%. The estimate has remained constant in the past 30 days.
Here’s a quick overview of the company’s performance leading up to this announcement.
Key Factors Likely to Have Driven HSIC’s Q2 PerformanceGlobal Distribution and Value-Added ServicesWithin this segment, U.S. dental merchandise sales have likely remained solid, reflecting continued volume growth driven by sales initiatives introduced last year. Earlier Henry Schein One eClaims trends pointed to modest U.S. procedure growth, which may have continued in the second quarter, while patient traffic is expected to have remained stable to slightly positive. Solid sales volume growth may have also translated into continued market share gains. Internationally, Henry Schein’s dental merchandise sales are likely to have benefited from continued strength in the United Kingdom, Italy and Brazil.
U.S. dental equipment sales in the second quarter of 2026 may have gained from ongoing demand for traditional equipment, particularly from dental support organizations (DSOs), as they continued to invest in their practices. Henry Schein is likely to have benefited from exclusive supplier-initiated opportunities, with suppliers continuing to view the company as a strategic channel for market share expansion. However, softness in sales of Intraoral scanners and 3D printers from lower average selling prices from new market entrants may have persisted, putting pressure on digital equipment sales.
However, lower average selling prices from new market entrants are likely to have continued to weigh on intraoral scanner and 3D printer sales, putting pressure on digital equipment sales.
In the second quarter, International dental equipment sales may have seen robust performance in traditional equipment. Equipment sales growth was especially good in Germany, the U.K., Canada, Australia and New Zealand.
The performance of the U.S. Medical distribution business may have benefited from strong growth in Home Solutions and dialysis. Henry Schein’s Global Value-Added Services may have also contributed favorably, driven by continued momentum in the international business solutions business.
Our model projects Henry Schein’s Global Distribution and Value-Added Services revenues to increase 2.9% year over year in the second quarter.
Global Specialty ProductsThe segment is likely to have witnessed a robust performance due to the solid demand for implants and biomaterials. As seen in the prior quarter, value implants growth, led by Henry Schein’s SIN and Biotech Dental businesses, may have continued to outpace growth in premium implants. Europe is also likely to have continued to outperform the United States, with strong clinical engagement supporting demand for premium implants.
The Endodontics business may have continued to benefit from expanded commercial reach through Henry Schein’s U.S. distribution team as well as select international channels.
We also expect favorable contribution from the Orthodontics business, aided by continued sales through the company’s U.S. dental distribution channel. In April 2026, the business announced the U.S. availability of Froggymouth, a myofunctional device manufactured by Biotech Dental Smiler designed to support the management of orofacial dysfunctions. This development may have also boosted the segment’s top line in the second quarter.
Going by our model, Global Specialty Products’ revenues are expected to increase 7.1% year over year.
Global Technology In the second quarter, the segment may have continued to benefit from strong demand for its cloud-based software technology solutions. The ongoing integration of AI solutions into the global suite of practice management software solutions may have been a tailwind. Similar to the previous quarter, U.S. performance is expected to have been driven by the Dentrix Ascend practice management platform, while continued momentum in the Dentally cloud-based platform may have boosted international sales.
Henry Schein One also launched the Next Generation Clinical Workflow, a voice-driven, AI-enabled advancement embedded within the Dentrix Ascend platform. Built in collaboration with Amazon Web Services, it brings imaging, charting, diagnostics and treatment planning into a single, continuous experience, enabling practices to complete more tasks during a single patient visit. The launch is likely to have led to more customer adoption, aiding the company’s revenues.
Our model estimates indicate Global Technology revenues will grow 2% year over year.
What Our Model Suggests for HSICPer our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has a higher chance of beating estimates. This is exactly the case here, as you can see below:
Earnings ESP: Henry Schein has an Earnings ESP of +0.41%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks Rank #1 stocks here.
Other Key MedTech PicksHere are some other medical stocks worth considering, as these also have the right combination of elements to post an earnings beat this time:
CVS Health (CVS - Free Report) has an Earnings ESP of +1.42% and a Zacks Rank #2. The company is slated to release second-quarter 2026 results on Aug. 5.
CVS’ earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.79%. The Zacks Consensus Estimate expects the company’s second-quarter EPS to increase 3.3% from the year-ago quarter’s figure.
Labcorp (LH - Free Report) has an Earnings ESP of +0.71% and a Zacks Rank #2. The company is slated to release second-quarter 2026 results on July 30.
LH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 3.31%. The Zacks Consensus Estimate for the company’s second-quarter EPS calls for a rise of 10.1% from the year-ago quarter’s figure.
Cencora, Inc. (COR - Free Report) has an Earnings ESP of +1.49% and a Zacks Rank #2. The company is slated to release third-quarter fiscal 2026 results on Aug. 5.
COR’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 1.59%. The Zacks Consensus Estimate anticipates the company’s third-quarter EPS will increase 9.3% from the year-ago quarter’s figure.
California Public Employees Retirement System cut its holdings in shares of Henry Schein, Inc. (NASDAQ: HSIC) by 14.9% in the undefined quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,925 shares of the company's stock after selling 43,137 shares during the
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.
One company to watch right now is Henry Schein (HSIC - Free Report) . HSIC is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 13.27, which compares to its industry's average of 16.89. HSIC's Forward P/E has been as high as 15.82 and as low as 12.57, with a median of 13.90, all within the past year.
Another valuation metric that we should highlight is HSIC's P/B ratio of 2.01. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 5.38. Within the past 52 weeks, HSIC's P/B has been as high as 2.53 and as low as 1.92, with a median of 2.16.
Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. HSIC has a P/S ratio of 0.72. This compares to its industry's average P/S of 1.45.
Finally, investors will want to recognize that HSIC has a P/CF ratio of 11.89. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. HSIC's P/CF compares to its industry's average P/CF of 17.91. Within the past 12 months, HSIC's P/CF has been as high as 15.66 and as low as 10.92, with a median of 12.77.
These are only a few of the key metrics included in Henry Schein's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, HSIC looks like an impressive value stock at the moment.
MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of healthcare solutions to office-based dental and medical practitioners, announced today that it will release its second quarter 2026 financial results before the stock market opens on Tuesday, August 4, 2026, and will provide a live webcast of its earnings conference call on the same day beginning at 8:00 a.m. Eastern time. Speakers on the call will include Fred Lowery, Chief Executive Officer and.
If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Henry Schein (HSIC - Free Report) . This company, which is in the Zacks Medical - Dental Supplies industry, shows potential for another earnings beat.
When looking at the last two reports, this health care products maker has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 6.54%, on average, in the last two quarters.
For the most recent quarter, Henry Schein was expected to post earnings of $1.2 per share, but it reported $1.32 per share instead, representing a surprise of 10.00%. For the previous quarter, the consensus estimate was $1.3 per share, while it actually produced $1.34 per share, a surprise of 3.08%.
Price and EPS Surprise
For Henry Schein, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Henry Schein has an Earnings ESP of +0.41% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner.
With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.
One company to watch right now is Henry Schein (HSIC - Free Report) . HSIC is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 13.27, while its industry has an average P/E of 16.98. HSIC's Forward P/E has been as high as 15.82 and as low as 12.57, with a median of 13.90, all within the past year.
We should also highlight that HSIC has a P/B ratio of 2.01. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 5.38. Over the past 12 months, HSIC's P/B has been as high as 2.53 and as low as 1.92, with a median of 2.16.
Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. HSIC has a P/S ratio of 0.74. This compares to its industry's average P/S of 1.39.
Finally, our model also underscores that HSIC has a P/CF ratio of 11.89. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 17.91. Over the past 52 weeks, HSIC's P/CF has been as high as 15.66 and as low as 10.92, with a median of 12.77.
These are only a few of the key metrics included in Henry Schein's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, HSIC looks like an impressive value stock at the moment.
, /PRNewswire/ -- GoTu Technology, the nation's leading dental talent marketplace, and Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care solutions to office-based dental and medical practitioners, today announced a new strategic partnership designed to help dental practices address ongoing staffing challenges and maintain continuity of patient care.
Through this collaboration between GoTu and Henry Schein Dental Recruitment Services (a division of Henry Schein Financial Enterprises, LLC, a wholly-owned subsidiary of Henry Schein), dental practices will gain expanded access to GoTu's technology-enabled platform, which connects offices with qualified dental hygienists, dental assistants, and associate dentists for both temporary and permanent staffing needs. GoTu will now be part of Henry Schein Dental Recruitment Services, which offers a range of services from permanent placement solutions to enterprise-level Recruitment Process Outsourcing (RPO). By combining GoTu's workforce technology with Henry Schein's extensive customer network, the partnership aims to deliver modern, flexible solutions that support practice efficiency and reduce operational strain.
"Staffing shortages continue to be one of the most significant challenges facing dental practices," said Cary Gahm, Co-Founder and Co-CEO of GoTu. "Partnering with Henry Schein allows us to bring reliable, scalable workforce support to more offices across the country. Together, we can help practices stabilize their teams and ensure patients receive uninterrupted, high-quality care."
GoTu's recently released third annual State of Work survey, developed in collaboration with the American Dental Hygienists' Association, continues to underscore the severity of the dental workforce shortage and its impact on practice operations and patient care. The partnership with Henry Schein builds on those insights by expanding access to GoTu's workforce platform through one of dentistry's most trusted customer networks, helping more practices find flexible, scalable support when staffing gaps arise.
"We are pleased to collaborate with GoTu to expand the staffing resources available to our customers," said Mark Hillebrandt, Vice President and Chief Digital Revenue Officer at Henry Schein. "This partnership reflects our commitment to helping dental professionals operate efficient, successful practices and to supporting the long-term health of the dental ecosystem."
GoTu has filled more than 500,000 shifts nationwide, offering practices a streamlined way to manage staffing gaps and maintain productivity. Henry Schein's broad reach and trusted advisor model will help bring these solutions to practices seeking greater flexibility and support during a period of sustained workforce pressure.
"At GoTu, we see our role as helping the dental industry solve one of its most urgent and persistent challenges," said Edward Thomas, Co-Founder and Co-CEO of GoTu. "That requires more than technology alone. It requires partnership, reach, and a shared commitment to supporting the practices and professionals who keep dentistry moving. By working with trusted industry leaders like Henry Schein, we can expand the support GoTu provides and help more dental offices access the workforce solutions they need."
About GoTu
GoTu (formerly TempMee) is a pioneering, technology-driven workforce solution and skill-sharing marketplace serving the dental industry. The platform allows dental offices to contract directly with registered dental hygienists, dental assistants, and associate dentists to fill both short-term and permanent positions. Launched in 2019, GoTu has filled more than 500,000 shifts nationwide, empowering dental professionals with flexibility and control while ensuring practices can deliver exceptional patient care. Miami-based GoTu has grown from a bootstrapped startup to an institutional investor-backed powerhouse with 120+ team members. For more information, visit www.gotu.com.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a products, services, and technology platforms company for healthcare customers. With more than 25,000 Team Schein Members worldwide, the Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional healthcare clinics, as well as other alternate care sites.
Henry Schein operates through a centralized and automated distribution network, with a selection of more than 300,000 branded products and Henry Schein corporate brand products in our distribution centers.
A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 34 countries and territories. The Company's sales reached $13.2 billion in 2025, and have grown at a compound annual rate of approximately 11.0 percent since Henry Schein became a public company in 1995.
For more information, visit Henry Schein at www.henryschein.com.
Henry Schein remains a dominant global provider in dental and medical practitioner supplies, with strong market shares and ongoing revenue growth. HSIC's Q1 2026 revenue grew 6.3% year-over-year, driven by robust global dental merchandise and equipment demand, particularly in aging and expanding populations. Profitability metrics are mixed, but adjusted net income and EBITDA are rising; management guides for 3–5% revenue growth and mid-single-digit EBITDA growth in 2026.
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Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +24% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Henry Schein (HSIC - Free Report) Melville, NY-headquartered Henry Schein Inc. is a solutions company for health care professionals that combines distribution, technology, and value-added services. 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 34 countries and offers a comprehensive selection of more than 300,000 branded products.
HSIC is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Medical stock. HSIC has a Momentum Style Score of B, and shares are up 6% over the past four weeks.
For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $5.32 per share. HSIC boasts an average earnings surprise of +3.7%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, HSIC should be on investors' short list.
MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care solutions to office-based dental and medical practitioners, today reported financial results for the first quarter ended March 28, 2026. “I am pleased with our strong first quarter results that reflect continuing momentum from the second half of last year as we grow market share and expand gross margins. Our growth outlook, combined with the progress made on value-creation initiatives.
Henry Schein on Tuesday reaffirmed its annual forecast after beating Wall Street expectations for first-quarter profit as the medical supplies distributor saw strong demand across its dental business.
Henry Schein (HSIC - Free Report) came out with quarterly earnings of $1.32 per share, beating the Zacks Consensus Estimate of $1.2 per share. This compares to earnings of $1.15 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +10.30%. A quarter ago, it was expected that this health care products maker would post earnings of $1.3 per share when it actually produced earnings of $1.34, delivering a surprise of +3.08%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Henry Schein, which belongs to the Zacks Medical - Dental Supplies industry, posted revenues of $3.37 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.15%. This compares to year-ago revenues of $3.17 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Henry Schein shares have lost about 4.7% since the beginning of the year versus the S&P 500's gain of 5.2%.
What's Next for Henry Schein?While Henry Schein has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Henry Schein was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.19 on $3.37 billion in revenues for the coming quarter and $5.30 on $13.69 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Dental Supplies is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Becton Dickinson (BDX - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.
This medical device manufacturer is expected to post quarterly earnings of $2.77 per share in its upcoming report, which represents a year-over-year change of -17.3%. The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level.
Becton Dickinson's revenues are expected to be $4.67 billion, down 11.5% from the year-ago quarter.
Key Takeaways HSIC beat Q1 estimates, with EPS up 14.8% and revenues rising 6.3% year over year.HSIC saw growth across segments, led by distribution, specialty products and technology sales gains.HSIC expanded gross margin to 31.8% and expects 3%-5% sales growth for full-year 2026. Henry Schein, Inc. (HSIC - Free Report) registered first-quarter 2026 adjusted earnings per share (EPS) of $1.32, up 14.8% from the year-ago period’s figure. The bottom line also surpassed the Zacks Consensus Estimate by 10.3%.
Excluding adjustments, such as restructuring costs, acquisition intangible amortization and others, the company reported a GAAP EPS of 92 cents compared with the year-ago quarter’s 88 cents.
HSIC’s Revenues in DetailHenry Schein reported first-quarter net sales of $3.37 billion, up 6.3% year over year. The metric also beat the Zacks Consensus Estimate by 1.15%.
Excluding 0.7% sales growth from acquisitions and a 3.1% increase from foreign currency exchange, internal sales growth was 2.5%.
HSIC’s Q1 Segmental AnalysisSales in the Global Distribution and Value-Added Services segment was $2.84 billion, up 6.1% year over year on a reported basis and reflects 2.5% internal sales growth. Our model forecast was $2.77 billion.
Within this, Global Dental Distribution merchandise sales reflected 3% internal sales growth year over year, with continuing strong momentum in the United States.
Global Dental Distribution equipment sales witnessed 3.5% internal sales growth. Global Medical Distribution sales for the quarter saw 1.3% internal sales growth. Global Value-added Services sales highlighted 7.8% internal sales growth in the quarter.
The Global Specialty Products segment reported $397 million in sales, up 8.1% on a reported basis (1.7% internal sales growth). Our model forecast was $405.9 million.
Lastly, sales in Global Technology totaled $173 million, up 7% on a reported basis and reflected 6.9% internal sales growth. Our model projected $175.6 million for this segment.
HSIC’s Margin PerformanceIn the reported quarter, the gross profit totaled $1.07 billion, representing a 7% increase year over year. The gross margin expanded 20 basis points (bps) to 31.8% despite a 6% rise in the cost of sales.
SG&A expenses increased 9.6% to $809 million in the quarter under review. The adjusted operating profit was $261 million, down 0.4% year over year. The adjusted operating margin contracted 52 bps year over year to 7.7%.
Liquidity Position of HSICHenry Schein exited the first quarter of 2026 with cash and cash equivalents of $128 million compared with $156 million at the end of 2025.
Cumulative net cash used in operating activities at the end of the reported quarter was $97 million compared with cash inflow of $37 million a year ago.
During the reported quarter, HSIC repurchased nearly 1.6 million shares of its common stock at an average price of $77.64 per share for a total of approximately $125 million. At the end of the reported quarter, Henry Schein had $655 million authorized and available for future stock repurchases.
HSIC’s 2026 GuidanceThe company continues to expect 2026 total sales growth to be between 3% and 5%. The Zacks Consensus Estimate for sales is currently pegged at $13.69 billion, indicating 3.9% year-over-year growth.
Non-GAAP diluted EPS for 2026 is expected to be in the band of $5.23-$5.37. The Zacks Consensus Estimate for earnings is pegged at $5.30.
Our Take on HSICHenry Schein exited the first quarter of 2026 with better-than-expected earnings and revenues. Performance reflects sustained momentum from the second half of last year, with market share gains and gross margin expansion. During the quarter, the company acquired a controlling interest in its S.I.N. distributor in the United States to enhance its position in the value implant market and support its business integration strategy. HSIC management also confirmed that the value creation initiatives are expected to deliver more than $200 million of operating income improvement over the next few years, with a $125 million run rate by the end of 2026.
HSIC’s Zacks Rank & Key PicksHSIC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are BrightSpring Health Services (BTSG - Free Report) , Intuitive Surgical (ISRG - Free Report) and Labcorp Holdings (LH - Free Report) .
BrightSpring Health Services, currently carrying a Zacks Rank #2 (Buy), reported first-quarter 2026 adjusted EPS of 36 cents, which surpassed the Zacks Consensus Estimate by 34.5%. Revenues of $3.61 billion beat the Zacks Consensus Estimate by 8.35%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BTSG has an estimated long-term earnings growth rate of 47.2% compared with the industry’s 14.5% growth. The company topped earnings estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 14.61%.
Intuitive Surgical, carrying a Zacks Rank #2 at present, posted first-quarter 2026 adjusted EPS of $2.50, exceeding the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion topped the Zacks Consensus Estimate by 6.2%.
ISRG has an earnings yield of 2.1% compared to the industry’s negative 0.9% yield. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 16.82%.
Labcorp, carrying a Zacks Rank #2 at present, posted first-quarter 2026 adjusted EPS of $4.25, exceeding the Zacks Consensus Estimate by 3.8%. Revenues of $3.54 billion outperformed the Zacks Consensus Estimate by 1%.
LH has an earnings yield of 6.9% compared with the industry’s 4.5% yield. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 3.31%.
For the quarter ended March 2026, Henry Schein (HSIC - Free Report) reported revenue of $3.37 billion, up 6.3% over the same period last year. EPS came in at $1.32, compared to $1.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $3.33 billion, representing a surprise of +1.15%. The company delivered an EPS surprise of +10.3%, with the consensus EPS estimate being $1.20.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Henry Schein performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- International Distribution and Value-Added Services- Dental: $900 million versus the four-analyst average estimate of $857.3 million. The reported number represents a year-over-year change of +12.8%.Geographic Revenue- International Distribution and Value-Added Services- Medical: $30 million compared to the $26.86 million average estimate based on four analysts. The reported number represents a change of +20% year over year.Geographic Revenue- U.S. Distribution and Value-Added Services: $1.91 billion compared to the $1.91 billion average estimate based on four analysts.Geographic Revenue- U.S. Distribution and Value-Added Services- Dental- Merchandise: $624 million versus $604.82 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.Net Sales- Global Specialty Products: $397 million versus $398.74 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.Net Sales- Global Technology: $173 million versus $173.27 million estimated by six analysts on average.Net Sales- Global Distribution and Value-Added Services: $2.84 billion compared to the $2.8 billion average estimate based on six analysts.Net Sales- Eliminations: $-41 million versus the six-analyst average estimate of $-40.66 million. The reported number represents a year-over-year change of +10.8%.Net Sales- Global Distribution and Value-Added Services- Global Dental: $1.77 billion versus the four-analyst average estimate of $1.7 billion.Net Sales- Global Distribution and Value-Added Services- Global Medical: $1.07 billion compared to the $1.09 billion average estimate based on four analysts.Geographic Revenue- International Distribution and Value-Added Services: $930 million compared to the $884.16 million average estimate based on four analysts.Net Sales- Global Distribution and Value-Added Services- Global Dental- Global Equipment: $417 million versus $411.03 million estimated by four analysts on average.View all Key Company Metrics for Henry Schein here>>>
Shares of Henry Schein have returned -3.8% over the past month versus the Zacks S&P 500 composite's +9.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.93% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Henry Schein (HSIC - Free Report) Melville, NY-headquartered Henry Schein Inc. 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 34 countries.
HSIC is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 14.04; value investors should take notice.
One analyst revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.00 to $5.30 per share. HSIC also boasts an average earnings surprise of +3.7%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, HSIC should be on investors' short list.
AMERICAN FORK, Utah--(BUSINESS WIRE)--Henry Schein One, the global leader in dental technology, today announced the release of its 2026 Catalyst Index, the fifth edition of its annual benchmarking report analyzing performance across tens of thousands of DSOs, multi-location organizations, and private practices. This year's data points to a clear and urgent shift for the industry: in a slower economy, growth is no longer determined by scale or efficiency alone; it is driven by clinical execution.
Henry Schein One, the global leader in dental technology, today announced the release of its 2026 Catalyst Index, the fifth edition of its annual benchmarking report analyzing performance across tens of thousands of DSOs, multi-location organizations, and private practices.
This year’s data points to a clear and urgent shift for the industry: in a slower economy, growth is no longer determined by scale or efficiency alone; it is driven by clinical execution.
Across both DSOs and independent practices, the highest-performing organizations consistently outperform their peers not because they are larger, but because they deliver more complete, consistent care. It is clear that growth-focused practices invest in building patient trust at the chairside. That difference shows directly in financial outcomes.
According to the 2026 Catalyst Index, top performers achieve 75% case acceptance compared to 45% for the average practice, alongside stronger production, collections, and patient engagement, reinforcing that performance begins at the point of care and carries through the entire business.
“Across the data, the pattern is consistent. Growth follows clinical performance,” said Dr. Ryan Hungate, Chief Clinical and Strategy Officer, Henry Schein One. “When clinicians are supported to deliver complete care and clear communication, patients move forward with treatment. That’s what drives predictable revenue. It starts chairside and flows through the entire system.”
The report challenges one of the industry’s most persistent assumptions: that scale alone creates better outcomes. Performance varies widely within every segment. Smaller practices often match or outperform larger groups, while many DSOs face increasing complexity without corresponding gains in efficiency or profitability.
For operators and investors, the implication is clear: growth strategies built on scale alone increase complexity, while scaling consistent clinical execution drives predictable performance and long-term value creation.
“The idea that scale automatically creates better performance doesn’t always hold up,” said Brian Colao, Director of the DSO Industry Group, Dykema. “What separates leading organizations is consistency in clinical care, patient experience, and execution across locations. That consistency is what ultimately enables scale to translate into performance.”
At the same time, the 2026 data reveals a growing disconnection. While operational metrics like scheduling efficiency have improved, patient retention declined from 72% to 64% year over year, and case acceptance softened across segments — signaling that efficiency gains alone are not translating into long-term growth.
For private practices, the implications are equally clear.
“We’re using the Catalyst Index as a benchmark to understand where we’re strong and where we need to improve,” said Amy Kaminski, Office Manager, Dawson Family Dentistry. “It helps us focus less on doing more, and more on doing the right things consistently — especially when it comes to patient communication and case acceptance.”
The 2026 Catalyst Index is available in two editions, one tailored for DSOs and multi-location organizations, and one for private practices, providing segment-specific benchmarks and actionable insights.
The report is supported by leading industry organizations, including Dykema, Association of Dental Support Organizations, and the American Association of Dental Office Management.
Dental leaders can explore the full findings and see how their organization compares by downloading the report at henryscheinone.com.
The 2026 Catalyst Index debuts this week at CDA Anaheim, where Henry Schein One will be engaging with industry leaders on what the data signals for the future of dentistry. At the booth, the team will share how connected workflows, embedded AI, and innovations like the Next Generation Clinical Workflow and MCP layer in Dentrix Ascend are helping practices turn clinical performance into predictable growth and more consistent financial outcomes.
About Henry Schein One
Henry Schein One, the global leader in dental technology, empowers dentists to focus on patient care and helps to ensure practice success. With simple and integrated technology, practices become more efficient, profitable, and connected—leading to better experiences for patients and care teams alike. The company’s comprehensive portfolio spans demand generation, patient experience, practice management, revenue cycle, analytics, and clinical workflow.
Henry Schein One, LLC, is a joint venture between Henry Schein, Inc. (Nasdaq: HSIC) and Internet Brands. Its brands include Dentrix, Dentrix Ascend, Jarvis Analytics, TechCentral, Lighthouse360, and DentalPlans.com, as well as international brands such as Dentally and Software of Excellence.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260513255536/en/
Henry Schein NASDAQ: HSIC executives said the company is seeing continued momentum in its dental business and remains committed to previously outlined operating improvement targets, while acknowledging softness in medical tied to a weaker respiratory illness season.
Speaking at a Bank of America healthcare technology and distribution event, Chief Executive Officer Fred Lowery, who has been in the CEO role for about two months, said the company had a “good Q1,” citing healthy growth in dental, strong growth in technology and distribution, and margin expansion during the quarter. Lowery said medical was softer, but that excluding flu-related impacts, underlying performance was “pretty good,” with mid-single-digit growth.
Lowery said Henry Schein recommitted to delivering a $125 million net run-rate value creation benefit by the end of the year and $200 million over the next several years. He also said the company reconfirmed its 2026 guidance.
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CEO Focuses on Customers, AI and Commercial Alignment Lowery said his first 100 days are centered on learning the business through meetings with customers, suppliers and employees, whom the company refers to as “Team Schein” members. He said he is assessing current projects and evaluating where the company should invest for future growth.
One area of focus is artificial intelligence, which Lowery said could help accelerate new product development and improve capabilities brought to market, particularly in Henry Schein’s technology business. He also pointed to commercial alignment as an opportunity, saying the company wants to present customers with a broader value proposition across multiple parts of Henry Schein.
Lowery said the company is working to shift its customer message from helping customers save money to helping them “make more money,” grow faster and operate more productively.
Operational Savings Expected to Build in Second Half Chief Financial Officer Ron South said the $125 million target represents the expected net run-rate operating income improvement as the company enters 2027. He said Henry Schein expects some benefit in 2026, with savings more weighted toward the second half of the year.
South said the timing is largely due to general and administrative initiatives, which require planning and structural changes in how the company supports the business. He said the goal is to create a scalable structure that can support growth without adding significant incremental cost.
Gross profit optimization is expected to contribute sooner, South said, with some benefit already seen in the first quarter. He cited dynamic pricing as one example, adding that it does not only mean increasing prices but can also include lowering prices in areas where Henry Schein wants to be more competitive.
Dental Momentum Continues; Medical Growth Excluding Diagnostics South said dental momentum seen in April continued into May. He said achieving the company’s desired dental growth requires taking market share, which includes retaining current customers and reducing churn.
In medical, South said point-of-care diagnostic kit sales weighed on first-quarter growth because demand for those products is tied to the respiratory illness season, including flu and RSV. Excluding that category, he said the medical business grew in the mid-single digits.
South said the diagnostic kit category is typically more important in the fourth and first quarters, so he expects less impact in the middle of the year. He also highlighted Henry Schein’s home solutions business, which he said now accounts for more than 10% of medical revenue, with a run rate of more than $400 million. He said the business grows faster and has better margins than core medical.
Margins Supported by Private Label and Pricing Tools South said gross margin improvement in distribution reflected early benefits from gross profit optimization, stability in glove pricing and faster growth in company-owned brands, or private label products. He said those products carry better gross margins than the overall portfolio and that he believes the margin level can be sustainable.
Asked about exposure to oil-linked inputs, South said some product categories may be affected by petroleum-based materials. He said Henry Schein can consider price increases where needed, redirect customers to similar products with less cost pressure, or use private label alternatives where available. He compared the approach to how the company managed tariff volatility last year.
South also noted that oil prices can affect freight costs. He said the company is working with customers to explain any fuel surcharges where needed and believes its approach remains in line with the market.
DSO, Specialty and M&A Opportunities Lowery said he has met with many of Henry Schein’s largest dental service organization customers and some smaller DSOs. He said those customers see value in Henry Schein and believe there is more the parties can do together.
Lowery identified corporate brands and practice management software as areas of opportunity with DSOs. He said the company expects to expand corporate brand share with DSOs over multiple years rather than through a quick, one-time shift.
In specialty, South said the segment grew about 8%, while local internal growth was 1.7%, a rate the company expects to improve as the year progresses. In the U.S. implant market, he said value implants continue to grow faster than premium implants, both in the market and in Henry Schein’s portfolio. He said the company’s acquisition of the S.I.N. U.S. distributor gives it greater control over that portfolio.
South said Henry Schein will remain disciplined on mergers and acquisitions, with a focus on higher-growth, higher-margin areas such as specialty products, technology and value-added services. He said home solutions also remains an area for potential fold-in acquisitions because it is growing faster and has higher margins than the company’s core medical business.
Lowery said he will measure success over the next year by whether Henry Schein delivers on its 2026 guidance, achieves its value creation commitments and develops a clearer line of sight toward accelerating growth more profitably as an extension of its BOLD+1 Strategy.
About Henry Schein NASDAQ: HSICHenry Schein, Inc is a leading global distributor of healthcare products and services, primarily serving office-based dental, medical and animal health practitioners. The company operates through three principal segments—Schein Dental, Schein Medical and Animal Health—each offering a comprehensive portfolio of consumable products, equipment, instruments and related value-added services. With a focus on improving practice efficiency and patient care, Henry Schein provides everything from dental restorative materials and orthodontic appliances to vaccines, pharmaceuticals and diagnostic devices for physicians, as well as pet health products and veterinary equipment for animal health professionals.
In addition to its broad product offering, Henry Schein delivers a suite of technology and service solutions aimed at streamlining workflows and enhancing clinical outcomes.
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MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care solutions to office-based dental and medical practitioners, today announced that its Board of Directors has elected William K. “Dan” Daniel as Independent Chairman of the Board, effective May 21, 2026. Mr. Daniel succeeds Stanley M. Bergman, who retired from the Board following 44 years as a Director of Henry Schein and was named Chairman Emeritus in recognition of his extraordinary c.
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What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
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That's where the Style Scores come in.
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Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Henry Schein (HSIC - Free Report) Melville, NY-headquartered Henry Schein Inc. is a solutions company for health care professionals that combines distribution, technology, and value-added services. 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 34 countries and offers a comprehensive selection of more than 300,000 branded products.
HSIC is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 13.83; value investors should take notice.
Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.01 to $5.31 per share. HSIC also boasts an average earnings surprise of +3.7%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, HSIC should be on investors' short list.
Key Takeaways HSIC benefits from a broad dental and medical distribution network and revenue growth driven by acquisitions.HSIC's growth is supported by digital dentistry adoption, AWS collaboration and distribution agreements.HSIC faces leverage and macroeconomic pressures, including debt load, inflation and cost volatility. Henry Schein, Inc. (HSIC - Free Report) is well-poised to grow in the coming quarters due to its scale in dental and medical distribution. The company’s revenue expansion has been consistently supported by niche acquisitions and partnerships. The rising adoption of digital imaging and chairside workflows backs Henry Schein’s global digital dentistry push and can drive continued attachment of equipment, service and supplies. Yet, headwinds from macroeconomic factors and a debt-heavy balance sheet raise concerns.
Over the past year, this Zacks Rank #3 (Hold) stock has climbed 5.2% compared with the 3.3% growth of the industry and the 31.4% rise of the S&P 500 composite.
The leading distributor of healthcare products and services has a market capitalization of $8.42 billion. The company’s earnings are expected to rise 7% in 2026 compared with the industry’s 5.1% growth. In the trailing four quarters, the company delivered an average earnings surprise of 3.74%.
Let’s delve deeper.
HSIC’s TailwindsWidespread Network and Channel Mix: Henry Schein’s distribution footprint supports broad customer coverage and operating efficiency across dental and medical markets. Apart from North America, the company has a presence in Australia and New Zealand, as well as in emerging nations like China, Brazil, Israel, the Czech Republic and Poland. In 2025, it also expanded its wide range of solutions and services in the Hawaiian Islands through the acquisition of R. Weinstein, Inc. In the first quarter of 2026, Global Distribution and Value-Added Services generated $2.84 billion of net sales, up 2.5% year over year. Management reaffirmed 2026 total sales growth guidance of about 3% to 5%, which keeps the focus on leveraging scale, service levels and supplier relationships to gain share over time.
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Expansion Through Acquisitions, Partnerships and Value Creation: Henry Schein’s acquisition strategy is to pursue targets that add product capabilities and expand its access to faster-growing categories. In first-quarter 2026, acquisitions contributed 0.7% to total net sales growth. The company also acquired a controlling interest in its S.I.N. distributor in the United States to enhance its position in the value implant market and support its business integration strategy.
In 2025, Henry Schein expanded its agreement with vVARDIS to become the exclusive U.S. distributor of the drill-free Curodont Repair Fluoride Plus product across all dental market segments. The company has also been investing in technology partnerships, including its collaboration with Amazon Web Services to integrate generative AI across the Henry Schein One ecosystem, and launched LinkIt to improve digital workflow connectivity for Dentrix users.
Alongside these growth initiatives, management is advancing its value creation program, recording $12 million of restructuring expense in first-quarter 2026 as the company executes on its operational plan.
Dental Business Trends Seem Favorable for the Long Term: As dentistry adopts digital imaging and chairside workflows, Henry Schein’s efforts to expand digital dentistry globally can support continued attachment of equipment, service and supplies. The company sells its consumable merchandise and manufactures specialty products in implants, orthodontics and endodontics, which helps it address a wider range of practice needs.
In the first quarter of 2026, Global Dental’s net sales were $1.77 billion, up 3.2% year over year. Management noted that dental practices and DSOs continued to invest in equipment and that the backlog in traditional equipment remained healthy. Dental procedure volumes held steady despite higher merchandise prices, which is consistent with a stable demand environment. In Specialty Products, value implant systems grew in the high single-digits, with improved growth projected in the segment as the year progresses. Premium implants were supported by clinical engagement and new product launches.
What Ails HSIC Stock?Weak Solvency: Henry Schein ended the first quarter of 2026 with cash and cash equivalents of $138 million, down from $156 million at the end of fourth-quarter 2025. The balance sheet remains levered, with current debt of $1.08 billion and long-term debt of $2.33 billion. At quarter-end, the debt-to-capital ratio was 37.6%, while times interest earned was 4.5X.
Macroeconomic Challenges: The company remains exposed to swings in inflation, foreign exchange and freight costs that can affect demand and profitability. In first-quarter 2026, adjusted operating margin increased 28 basis points year over year to 7.53% on gross margin expansion and mix, yet cash flow was seasonally negative. Henry Schein’s 2026 guidance assumes stable dental and medical end markets and that tariff changes and higher oil prices can be mitigated, but it also signals that product pricing and shipping costs are moving parts.
HSIC Stock Estimate TrendThe Zacks Consensus Estimate for HSIC’s 2026 earnings per share (EPS) has moved to $5.32 from $5.30 in the past 30 days.
The Zacks Consensus Estimate for the company’s 2026 revenues is pegged at $13.72 billion. This suggests a 4.1% rise from the year-ago reported number.
Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Align Technology (ALGN - Free Report) and Integra LifeSciences (IART - Free Report) .
Globus Medical has an earnings yield of 6.1% compared to the industry’s negative 1.1% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 26.3%. GMED shares have rallied 40.2% against the industry’s 7.7% fall over the past year.
GMED sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Align Technology, carrying a Zacks Rank #2 (Buy), has an estimated long-term earnings growth rate of 10.3% for fiscal 2026 compared with the industry’s 9.5% growth. Shares of the company have dropped 11% compared with the industry’s 3.3% rise. ALGN’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 7.8%.
Integra LifeSciences, carrying a Zacks Rank #2, has an earnings yield of 15.7% against the industry’s negative 15.7% yield. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 16.7%. IART shares have rallied 19.9% against the industry’s 7.6% decline over the past year.
