Henry Schein (NSDQ:HSIC) shares ticked up today on third-quarter results that beat the consensus forecast.
The Melville, New York-based company posted profits of $162.3 million, or $1.15 per share, on sales of $3.2 billion for the three months ended Sept. 25, 2021, for a 14.5% bottom-line gain on sales growth of 11.9%.
Adjusted to exclude one-time items, earnings per share were $1.10, 15¢ ahead of Wall Street, where analysts were looking for sales of $3 billion.
Henry Schein’s global medical sales came in at $1.2 billion, marking a 15.5% increase against the comparable period last year. Excluding COVID-19-related products and PPE, internal sales in local currencies increased 8.3%. The company noted positive trends in the physician office, ambulatory surgery center and alternate care markets.
“Today we reported record third-quarter financial results, driven by a keen focus on execution by team Schein and steady patient traffic, resulting in excellent momentum across the entire company,” Henry Schein Chair and CEO Stanley Bergman said in a news release. “We believe that patient traffic was generally similar to the previous quarter for our dental customers and is improving for our medical customers.”
Henry Schein upped its 2021 adjusted EPS guidance from a projection of at or above $3.85 to a range between $4.27 and $4.35.
HSC shares were up 4% at $79.70 per share in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.2%.