Henry Schein Medical Archives - Medical Design Sourcing

Henry Schein dips despite Street-beating Q4

Henry Schein (NSDQ:HSIC) shares dipped today despite fourth-quarter results that topped the consensus forecast.

The Melville, N.Y.-based company posted profits of $142.6 million, or 99¢ per share, on sales of $3.2 billion for the three months ended Dec. 26, 2020, for a -56.8% bottom-line slide on sales growth of 18.6%.

Adjusted to exclude one-time items, earnings per share were $1, 1¢ ahead of Wall Street, where analysts were looking for sales of $2.9 billion.

Henry Schein reported a 7.2% increase in sales up to $1.8 billion for its dental segment, while medical sales received a massive 48.5% boost to $1.2 billion, with demand for personal protective equipment (PPE) and COVID-19-related products, including tests, being the driving force behind that growth.

“Our Medical business experienced strong year-over-year sales growth in the fourth quarter driven by continued demand for PPE and COVID-19 related products, most specifically for COVID-19 test s…

Henry Schein buys majority of Prism Medical Products

Henry Schein (NSDQ:HSIC) announced that it acquired a majority ownership position in home medical supply maker Prism Medical Products.

Elkin, N.C.-based Prism provides specialty home medical supplies with a core competency in advanced wound care products, according to a news release. The transaction leads Henry Schein Medical to enter an established and growing market for such products.

Prism will operate as a subsidiary of Henry Schein Medical and will be managed separately as an individual division by founder & president Chris Cartwright. The company has more than 200 team members and collected net revenue for the 12 months ended Sept. 30, 2020, of about $52 million.

“I am very proud of all that the team at Prism has accomplished, including our track record of organic revenue growth along with consistent increases in unique referral sources and new patients,” Cartwright said in the release. “We look to the future with excitement and opt…

Henry Schein dips on Q2 losses

Henry Schein (NSDQ:HSIC) shares dipped slightly today on second-quarter losses that still managed to top the consensus forecast.

The Melville, N.Y.-based medical device maker posted losses of -$13.3 million, or -8¢ per share, on sales of $1.7 billion for the three months ended June 27, 2020, for a bottom-line slide into the red from profits of $119.2 million last year. Sales declined by 31.2%.

Adjusted to exclude one-time items, earnings per share came in at $0.00, 12¢ ahead of Wall Street, where analysts were looking for sales of $1.4 billion.

The ongoing COVID-19 pandemic negatively impacted Henry Schein’s quarter, particularly with its dental business, as the company reported a 41.2% drop in sales for that segment. However, the company said in a news release that it saw positive trends as procedures delayed by the pandemic began to slowly trickle back.

“Regarding our second-quarter financial results, COVID-19 significantly impacted our wo…