Henry Schein shares down despite Street-beating Q1

Shares in Henry Schein (NSDQ:HSIC) have fallen today despite the medical device maker beating expectations on Wall Street with its first quarter 2018 earnings release. The Melville, N.Y.-based company posted profits of $140.2 million, or 91¢ per share, on sales of $3.2 billion for the three months ended March 31, seeing the bottom-line shrink 0.4% while sales grew 10.2% compared with the same period during the previous year. Adjusted to exclude one-time items, earnings per share were 95¢, just ahead of the 92¢ consensus on Wall Street where analysts expected to see sales of $3.2 billion, which the company also met. “We are pleased with our financial results for the first quarter of 2018, which we believe reflect generally healthy end-market growth. It is an exciting time at Henry Schein as we continue to evolve our business strategy to ensure we are well-positioned to pursue the significant growth opportunities ahead of us while seeking to maximize shareholder value. In line with our strategy, in early April we announced the majority ownership of a new dental technology joint venture, named Henry Schein One, created to deliver integrated dental technology to help the profession improve practice management and marketing as well as patient communications. More recently, we announced the planned spin-off and merger of our global Animal Health business with Vets First Choice to create a new publicly traded company, to be named Vets First Corp., which will be owned by th...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat Henry Schein Inc. Source Type: news