Report
Damien Conover
EUR 100.00 For Business Accounts Only

Henry Schein's 1Q Results Show Restructuring Progress

Henry Schein's fiscal first-quarter results broadly met our expectations, and we are reiterating our no-moat rating. We anticipate a potential slight increase to our fair value estimate after we incorporate management's minor lift in 2019 outlook. The company raised the top end of its non-GAAP 2019 EPS guidance range by four cents, which now spans $3.38-$3.50 (versus our previous estimate of $3.40). We continue to view 2019 as a transitional year for Henry Schein, as the company works through it...
Underlying
Henry Schein Inc.

Schein (Henry) provides health care products and services to office-based dental and medical practitioners. The health care distribution segment distributes consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins. The company's technology group offerings include practice management software systems for dental and medical practitioners. The company's practice solutions include financial services on a non-recourse basis, e-services, practice technology, network and hardware services, and continuing education services for practitioners.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Damien Conover

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