Company Overview - Henry Schein, Inc. is the world's largest provider of health care solutions to office-based dental and medical practitioners, offering over 300 valued solutions to more than 1 million customers globally [2][4] - The company operates through a centralized and automated distribution network, providing a selection of more than 300,000 branded products and corporate brand products [3] - Henry Schein is a FORTUNE 500 Company and a member of the S&P 500 index, with operations or affiliates in 33 countries and territories [4] Financial Performance - The company's sales reached $12.7 billion in 2024, growing at a compound annual rate of approximately 11.2 percent since becoming a public company in 1995 [4] Upcoming Events - Henry Schein will participate in investor conferences in November, including the Stifel's Healthcare Conference on November 12, 2025, and the Jefferies Healthcare Conference on November 18, 2025 [6] - The company will also webcast its third quarter 2025 financial results on November 4, 2025, at 8:00 A.M. Eastern time [9]

Company Overview - Henry Schein, Inc. is a leading global provider of healthcare products and services for dental, medical, and veterinary professionals, operating in over 33 countries and delivering more than 300,000 products through its automated distribution network [1] - The company has around 25,000 employees and over one million customers worldwide, with a market capitalization of $7.64 billion [2] Financial Performance - Henry Schein is set to report its third-quarter results for fiscal 2025, with analysts expecting a profit growth of 4.1% year-over-year to $1.27 per diluted share [3] - For the current fiscal year, the company's profit is projected to grow 1.9% annually to $4.83 per diluted share [4] - In its second-quarter earnings for fiscal 2025, the company reported a topline growth of 3.3% year-over-year to $3.24 billion, exceeding Wall Street's expectation of $3.22 billion [6] Stock Performance - Over the past 52 weeks, Henry Schein's stock has declined by 11.7%, and it is down by 7.6% year-to-date, underperforming the broader S&P 500 Index, which gained 14.8% and 14.5% over the same periods [5] - The stock's performance has also lagged behind its sector, as the Health Care Select Sector SPDR Fund has declined by 5.5% over the past 52 weeks but rose 5.3% year-to-date [5] Business Challenges - The company has shown weaknesses in its organic revenue performance, with sales growing only 1.9% year-over-year in Q2 when excluding the impact of acquisitions and foreign currency exchange [7] - The adjusted EPS for Q2 dropped by 10.6% from the previous year to $1.10, missing the expected $1.18, which led to a 7.4% intraday stock decline [6]

Group 1 - Henry Schein, Inc. will release its third quarter 2025 financial results before the stock market opens on November 4, 2025 [1] - A live webcast of the earnings conference call will take place on the same day at 8:00 a.m. Eastern time [1] - Stanley M. Bergman, Chairman of the Board, will be among the speakers on the call [1]

Core Insights - Biomerica has entered a marketing services arrangement with Henry Schein to promote its inFoods® IBS test across the U.S., excluding New York, marking a significant step in its commercialization strategy [1][2][3] Company Overview - Biomerica, Inc. is a global biomedical technology company focused on developing diagnostic and therapeutic products for gastrointestinal and inflammatory diseases [13] - Henry Schein, Inc. is the largest provider of health care solutions to office-based dental and medical practitioners, with over $12 billion in annual sales in 2024 and a strong distribution network [2][11] Product Details - The inFoods® IBS test is a diagnostic-guided therapy that identifies food triggers for IBS symptoms, allowing for personalized dietary recommendations [6] - The test has shown significant efficacy in clinical studies, particularly for IBS-M patients, with 59.6% of patients in the treatment group achieving the FDA's endpoint for abdominal pain reduction [4][7] Market Context - IBS affects approximately 10% to 15% of adults in the U.S., leading to a lower quality of life and decreased work productivity for those affected [5] - The partnership with Henry Schein is expected to enhance the adoption of this non-drug therapy, addressing a significant unmet need in the IBS market [2][3]

Core Insights - The Aspen Group (TAG) has announced a partnership with Planmeca to enhance digital imaging technology across its Aspen Dental locations nationwide [1][2][6]. Partnership Details - Planmeca's Viso and ProMax CBCT imaging units, along with ProX™, ProSensor HD, and ProX™ GO 2D intraoral imaging systems, will be integrated into over 1,100 Aspen Dental locations [2]. - The imaging units feature Planmeca CALM technology, which reduces retakes due to patient movement, providing a more efficient experience [3]. Support and Integration - Henry Schein, a key partner of TAG, will assist in the installation and integration of the new equipment across Aspen Dental's practices, leveraging a network of over 900 technicians [4]. - Aspen Dental will also utilize Planmeca's Romexis software platform and Planmeca Insights™ for real-time device data monitoring, enhancing operational efficiency and patient care workflows [5]. Commitment to Quality - The partnership aims to equip Aspen Dental practices with advanced imaging solutions that improve diagnostic precision and streamline clinical workflows [6]. - Planmeca's imaging units are recognized for their performance and reliability, supporting accurate diagnostics and optimizing treatment planning [7]. Company Background - TAG operates over 1,400 healthcare locations across 46 states, serving more than 35,000 patients daily and over nine million annually [8]. - Planmeca is a leading manufacturer in the dental equipment market, serving 120 countries worldwide [9].

Company Overview - Henry Schein, Inc. (HSIC) is valued at a market cap of $8.2 billion and is a leading global provider of healthcare products and services, focusing on office-based dental and medical practitioners [1] - The company operates in 33 countries and territories, employing over 25,000 Team Schein members worldwide [1][2] - Henry Schein offers more than 120,000 branded products and private-label offerings, supporting over 1 million customers globally [2] Stock Performance - HSIC currently trades 17.9% below its 52-week high of $82.49 recorded on February 5 [3] - The stock has dropped 6.8% over the past three months, underperforming the Health Care Select Sector SPDR Fund (XLV), which rose by 2% in the same period [3] - Year-to-date, HSIC's stock has declined by 2.1%, while XLV has decreased marginally [4] - Over the past 52 weeks, HSIC shares have slumped 4.2%, significantly underperforming XLV's 11.5% returns [4] - The stock has slipped below its 50-day and 200-day moving averages since the end of July, indicating a downtrend [4] Recent Earnings Report - On August 5, HSIC shares fell 7.4% after the company reported Q2 2025 earnings [5] - The adjusted EPS of $1.10 fell short of Wall Street forecasts, while revenue of $3.2 billion exceeded expectations [5] - The earnings miss was attributed to sluggish demand for U.S. dental products, influenced by high interest rates, inflation, and reduced spending on non-urgent procedures [5] Competitive Landscape - In the healthcare sector, Cardinal Health, Inc. (CAH) has notably outperformed HSIC stock, with CAH shares gaining 30.7% year-to-date and climbing 40.3% over the past 52 weeks [6]

Macro Environment Overview - The macro environment in the dental industry has remained relatively stable, with patient traffic data indicating consistent levels throughout the year [1] - Patient traffic is considered a key indicator for merchandise sales and inventory turnover [1] Impact of Interest Rate Changes - The recent cuts in U.S. interest rates are viewed as a significant macroeconomic factor that may provide short-term opportunities for increased equipment sales [2] - Larger dollar equipment sales are often financed through leasing or other financing methods, suggesting potential for growth in this area due to lower interest rates [2]

Summary of Henry Schein 2025 Conference Call Company Overview - **Company**: Henry Schein (NasdaqGS: HSIC) - **Date of Conference**: September 24, 2025 Key Industry Insights - **Macro Environment**: The U.S. is experiencing a reduction in interest rates, which is expected to positively impact equipment sales and the establishment of new dental practices, particularly by Dental Service Organizations (DSOs) [4][5][22] - **Patient Traffic**: Patient traffic in dental practices has remained stable, serving as a key indicator for merchandise sales [3][4] - **International Growth**: There is a slight uptick in international business, especially in Mainland Europe, following a period of energy price increases [7] Core Company Strategies and Performance - **Sales Growth**: Promotional activities in Q2 have started to yield positive results, with double-digit growth in customer engagement and sales [11][9] - **Customer Retention**: Efforts to engage episodic customers through field sales consultants are aimed at increasing market share and customer loyalty [12][14] - **Field Sales Force**: The addition of experienced sales representatives is ongoing, with expectations of ramping up to full productivity within 12 months [15][16][17] Financial Outlook - **EPS Growth**: The company aims for high single-digit EPS growth in 2026, with various macroeconomic factors influencing this target, including interest rates and unemployment [19][20][22] - **Cost Optimization**: Henry Schein is undertaking value creation projects to optimize gross profit and general & administrative costs, with expected benefits starting in 2026 [23][25][26] Market Dynamics - **Pricing and Tariffs**: The company is navigating the impact of tariffs on private label products, which may necessitate price increases while maintaining competitiveness [31][32] - **Implant Market**: The value implant market is growing faster than the premium segment in the U.S., with DSOs increasingly adopting value implants for straightforward procedures [34][38][46] Medical Segment Insights - **Vaccine Demand**: The flu vaccine remains a significant product, with expectations for normal demand levels. The COVID vaccine is less impactful due to low margins [56][58] - **Medical Business Growth**: The medical segment has seen a 6% growth, driven by pharmaceuticals and point-of-care diagnostic kits, with a notable home health business growing at a faster pace [64][65] Technology Business Performance - **Growth Rates**: The core practice management systems are performing well, but peripheral products are dragging down overall growth. Consolidation of brands is expected to improve growth rates [66][68][70] Capital Deployment Strategy - **Share Repurchase Program**: A $750 million share repurchase program has been announced, indicating a strategic focus on capital deployment while remaining opportunistic regarding M&A [71][73] Additional Considerations - **Market Expansion**: The company is optimistic about the expansion of the market for dental practices, particularly with the potential for new practice builds as interest rates decline [5][6] - **Customer Engagement**: The focus on educating customers about profitability and operational efficiency is seen as a key driver for long-term relationships and market share growth [12][14]

Group 1 - Henry Schein, Inc. is at a pivotal juncture with CEO Stanley Bergman's impending retirement and KKR's strategic entry, holding a 14.5% stake and two board seats [2] - The company is projected to achieve $12.7 billion in sales for 2024 and has an $8.5 billion market cap, operating through three main segments: Global Distribution & Value-Added Services, Global Technology, and Global Specialty Products [2] - HSIC has historically underperformed relative to peers due to margin pressures, supply chain disruptions, and rising SG&A and restructuring costs, with revenue growing at a 5% CAGR from 2020 to 2024 [3] Group 2 - KKR's involvement includes a $250 million strategic investment aimed at restructuring, consolidating headquarters, and enhancing e-commerce and SaaS growth, targeting $75–100 million in cost savings by 2025 [4] - The company is expected to transition into a growth-focused enterprise through high-margin SaaS adoption, operational improvements, and strategic asset rationalization, creating an attractive risk/reward setup for investors over the next 18 months [5] - Activist investor Ananym Capital has called for sharper cost control and divestment of non-core assets, which could unlock substantial shareholder value [3][6]

Core Insights - Pearl has joined the Henry Schein One API Exchange, which indicates a strategic partnership aimed at enhancing dental practice efficiency through technology integration [1] Company Summary - Pearl is integrating its AI tools with Dentrix and Dentrix Ascend, which are platforms provided by Henry Schein One, to deliver secure artificial intelligence solutions [1] - The collaboration is expected to boost operational efficiency and improve patient care within dental practices [1]