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HSIC · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Henry Schein Inc (HSIC) stock moving?
Henry Schein beat Q3 2026 adjusted EPS ($1.56 vs $1.36 estimate) and raised FY2026 adjusted EPS guidance to $5.50-$5.56, while sales of $3.471B narrowly missed and sales guidance was affirmed at $13.794B-$13.926B. The stock fell about 4.8% on Nov 3 to a low of $81.03 on 4.4M shares, roughly four times normal volume, as management flagged softness in discretionary dental procedures. Two days later the company withdrew its 2026-2028 financial objectives, and Evercore ISI (Outperform) and UBS (Neutral) trimmed price targets to $100 and raised them to $95 respectively. The shares have since recovered to a $88.74 close on Nov 10, up about 9.5% from the Nov 3 low, on volume that has eased to about 1.0M shares. Buybacks ($125M in Q3, $330M remaining) and a CFO transition effective Nov 4 are supportive but secondary. The main tension is between the raised EPS outlook and the withdrawn multi-year targets and discretionary demand softness.
News behind the analysis
- CareQuest Institute for Oral Health and Henry Schein Announce BRIDGE Health NetworkHenry Schein and the CareQuest Institute for Oral Health launched the BRIDGE Health Network to advance dental-medical integration through systemic health screening workflows.
- Axxess Partners With Henry Schein Home SolutionsAxxess partnered with Henry Schein Home Solutions to streamline procurement of medical supplies and equipment for its clients.
- Henry Schein Withdraws Long-Term Financial ObjectivesHenry Schein withdrew its 2026–2028 financial objectives, citing the macroeconomic environment and recent updates to its 2026 full-year guidance.
- UBS Adjusts Henry Schein Price Target to $95 from $94UBS raised its price target on Henry Schein to $95 from $94 and kept a Neutral rating.
- Evercore ISI Group Maintains Henry Schein at Outperform, Lowers Price Target to $100Evercore ISI kept its Outperform rating on Henry Schein but cut its price target to $100 from $105.
- Henry Schein Sees Pressure From Discretionary Dental DelaysHenry Schein fell after Q3 results, as an EPS beat and raised 2026 guidance were offset by softness in discretionary dental procedures.
- Henry Schein Reports Third Quarter 2026 Financial Results and Raises Full-Year GuidanceHenry Schein reported $3.5 billion in Q3 sales for the quarter ended September 26, 2026, and raised its full-year 2026 guidance.
- Henry Schein Raises FY2026 Adj EPS Guidance from $5.29-$5.39 to $5.50-$5.56 vs $5.39 Est; Affirms FY2026 Sales Guidance of $13.794B-$13.926B vs $13.866B EstHenry Schein raised its FY2026 adjusted EPS guidance to $5.50-$5.56 from $5.29-$5.39 and affirmed its sales guidance of $13.794B-$13.926B.
- Henry Schein Q3 Adj. EPS $1.56 Beats $1.36 Estimate, Sales $3.471B Miss $3.476B EstimateHenry Schein's Q3 adjusted EPS of $1.56 beat the $1.36 estimate, while sales of $3.471B narrowly missed the $3.476B estimate.
- Henry Schein Repurchased $125M Of Stock In Q3; $330M Left On AuthorizationHenry Schein bought back $125M of its stock in Q3 and has $330M remaining on its repurchase authorization.
About Henry Schein Inc
Henry Schein is one of the world's largest distributors of dental and medical supplies, equipment and software, serving dental offices, doctors' practices and other office-based healthcare providers. It stands out for its leading position in dental distribution and for a growing mix of higher-margin own-brand products, specialty products (such as dental implants) and practice software, with quarterly sales of roughly $3.4–3.5 billion in 2026.
How it makes money
Most revenue comes from distribution: buying consumables (gloves, anesthetics, restorative materials), equipment (chairs, imaging, digital scanners), pharmaceuticals and vaccines from manufacturers and reselling them to practices at a markup. Dental distribution is the biggest piece, medical distribution (including home health) is the second largest, and a smaller but higher-margin share comes from specialty products like implants and orthodontics plus technology and value-added services such as practice management software (e.g., Dentrix). Margins are thin on distribution, so volume, own-brand mix and cost control matter a lot. For 2026 the company expects total sales growth of roughly 4.5–5.5%.
What usually moves HSIC
- Dental patient visits and practice spending
- Dental equipment and digital technology demand
- Distribution margins, tariffs and supplier pricing
- Cost-saving program progress and share buybacks
- Flu/COVID vaccine and diagnostic test volumes