These Analysts Slash Their Forecasts On Henry Schein After Q3 Results
Portfolio Pulse from Lisa Levin
Henry Schein Inc (NASDAQ:HSIC) reported Q3 sales of $3.16 billion, missing consensus estimates of $3.21 billion. Adjusted EPS was $1.32, in line with estimates, but the company narrowed its FY23 adjusted EPS guidance due to softening macroeconomic conditions. Following the earnings report, analysts at Morgan Stanley, Barrington Research, and UBS revised their price targets downward, while maintaining their respective ratings on the stock. HSIC stock gained 1.5% to $68.54 on Tuesday.
November 14, 2023 | 7:16 pm
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NEUTRAL IMPACT
Henry Schein's Q3 sales miss and lowered FY23 EPS guidance led to price target cuts by Morgan Stanley, Barrington Research, and UBS, but the stock price increased by 1.5%.
While the Q3 sales miss and lowered EPS guidance are negative indicators, the stock price still rose, suggesting a mixed market reaction. Analysts' price target reductions could exert downward pressure, but their maintained ratings indicate a belief in the company's fundamentals. The net impact is likely to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100