Henry Schein, Inc. · HSIC · FY2025 Q3 · Calendar Q4 2025

Henry Schein raises EPS guidance as sales and margins improve

The quarter provides evidence supporting a constructive operating trajectory: sales growth, margin expansion, raised EPS guidance, and identifiable software, e-commerce, and efficiency initiatives. The case still depends on execution and on whether one-time gains and planned operating-income improvements translate into durable results.

Reported Before market openNASDAQHealthcare $9.67B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.38 Consensus $1.27
EPS surprise +8.7% Reported versus consensus
Reported revenue $3.34B Consensus $3.34B
Revenue surprise -0.2% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +10.8% Event window
SPY move -1.2% Same window
Abnormal move +12.0% Stock minus SPY
Volume 2.8× Versus trailing sessions
Subsequent drift +1.8% Up to 20 sessions
HSICSPY benchmark

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Transcript intelligence

What changed

Relative to the prior quarter, management reported stronger sales growth and margin performance, raised 2025 EPS guidance, added an AWS generative-AI partnership, increased the planned operating-income improvement target to more than $200 million, and expanded the share-repurchase authorization.

Guidance delta

Management raised 2025 EPS guidance to $4.88–$4.96 from $4.80–$4.94 previously.

Key takeaways

  • Third-quarter sales grew 5.2% year over year, with market-share gains in dental and medical distribution.
  • Non-GAAP operating margin expanded and 2025 EPS guidance was raised.
  • A multiyear plan targets more than $200 million of operating-income improvement.
  • AWS partnership adds generative AI capabilities to Dentrix Ascend and Dentally.
  • The board approved a $750 million increase to the share-repurchase program.

Management priorities

  • Execute the BOLD+1 strategy and value-creation projects through 2026–2027.
  • Expand high-growth, high-margin businesses toward more than 60% of non-GAAP operating income by 2027.
  • Roll out the HenrySchein.com global e-commerce platform in North America and Europe.
  • Integrate generative AI into Dentrix Ascend and Dentally.
  • Continue share repurchases at a pace similar to the prior quarter.

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Earnings History

Estimate Beat Miss Match
HSIC EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $1.02 Q1 '24 actual $1.10, beat Q2 '24 estimate $1.22 Q2 '24 actual $1.23, match Q3 '24 estimate $1.16 Q3 '24 actual $1.22, beat Q2 '25 estimate $1.18 Q2 '25 actual $1.10, miss Q3 '25 estimate $1.27 Q3 '25 actual $1.38, beat Q4 '25 estimate $1.30 Q4 '25 actual $1.34, beat Q1 '26 estimate $1.20 Q1 '26 actual $1.32, beat Q2 '26 estimate $1.24 Q2 '26 actual $1.27, beat Q3 '26 estimate $1.36 Q4 '26 estimate $1.43 Q1 '27 estimate $1.43
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Analyst Consensus ?

ConsensusHold34 ratings
Bullish1750.0%
Neutral1441.2%
Bearish38.8%

Analyst 52W Price Targets

$84.88Current
$64Low
$87.38Average
$110High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
BTIG Buy BuyMaintainAug 19, 2026
Barclays Overweight OverweightMaintainAug 6, 2026
UBS Neutral NeutralMaintainAug 5, 2026
Citigroup Buy BuyMaintainAug 5, 2026
Piper Sandler Overweight OverweightMaintainJul 29, 2026
Mizuho Neutral NeutralMaintainMay 6, 2026
Morgan Stanley Underweight UnderweightMaintainApr 24, 2026
Evercore ISI Group Outperform OutperformMaintainApr 8, 2026
Wells Fargo Equal Weight Equal WeightMaintainFeb 25, 2026
JP Morgan Overweight OverweightMaintainFeb 25, 2026
Barrington Research Outperform OutperformMaintainFeb 25, 2026
Leerink Partners Market Perform Market PerformMaintainFeb 24, 2026
Baird Outperform NeutralUpgradeFeb 23, 2026
Stifel Hold BuyDowngradeJul 25, 2025
Jefferies Hold HoldMaintainJan 23, 2025
B of A Securities Buy UnderperformUpgradeJan 6, 2025
Credit Suisse Outperform OutperformMaintainAug 8, 2023
Goldman Sachs Neutral BuyDowngradeJul 21, 2022
CFRA Hold HoldMaintainMay 5, 2020
Wolfe Research Outperform Peer PerformUpgradeApr 2, 2020
Bank of America Neutral NeutralMaintainDec 3, 2019
William Blair Market Perform OutperformDowngradeAug 7, 2019
SVB Leerink Market Perform OutperformDowngradeMay 15, 2019
Guggenheim Buy BuyMaintainApr 18, 2019
Edward Jones Sell HoldDowngradeOct 25, 2018
Stifel Nicolaus Hold HoldMaintainAug 7, 2018
Deutsche Bank Buy BuyMaintainApr 24, 2018
Leerink Swann Outperform Market PerformUpgradeApr 4, 2018
Stephens & Co. Equal Weight Equal WeightMaintainNov 28, 2017
Craig-Hallum Buy HoldUpgradeNov 7, 2017
RBC Capital Perform Sector PerformMaintainSep 19, 2017
PiperJaffray Overweight NeutralUpgradeSep 15, 2017
Gabelli & Co. Buy HoldUpgradeJan 10, 2017
ISI Group Underweight UnderweightMaintainJul 12, 2012
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Named analyst price targets

Upside is calculated against the persisted current price $84.88. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BTIGDavid Larsen$110$90.62 +29.6%Aug 19, 2026
BarclaysAnalyst unavailable$100$89.59 +17.8%Aug 6, 2026
BarringtonMichael Petusky$104$89.11 +22.5%Aug 5, 2026
UBSKevin Caliendo$94$89.11 +10.7%Aug 5, 2026
Stifel NicolausAnalyst unavailable$95$89.11 +11.9%Aug 5, 2026
UBSAnalyst unavailable$89$85.88 +4.9%Jul 28, 2026
BMO CapitalVik Chopra$85$83.22 +0.1%Jul 8, 2026
BTIGAnalyst unavailable$100$78.85 +17.8%Jun 11, 2026
UBSKevin Caliendo$85$74.35 +0.1%May 6, 2026
Mizuho SecuritiesAnalyst unavailable$82$74.37 -3.4%May 6, 2026
Robert W. BairdAnalyst unavailable$97$74.37 +14.3%May 6, 2026
Morgan StanleyErin Wright$64$78.22 -24.6%Apr 24, 2026
BarringtonAnalyst unavailable$97$81.6 +14.3%Feb 25, 2026
Leerink PartnersAnalyst unavailable$87$83.35 +2.5%Feb 24, 2026
Robert W. BairdAnalyst unavailable$100$79.57 +17.8%Feb 23, 2026
Mizuho SecuritiesSteven Valiquette$81$79.98 -4.6%Jan 20, 2026
BarclaysAnalyst unavailable$86$72.86 +1.3%Dec 8, 2025
Evercore ISIAnalyst unavailable$90$71.68 +6.0%Nov 5, 2025
BarringtonAnalyst unavailable$79$71.32 -6.9%Nov 5, 2025
Evercore ISIAnalyst unavailable$83$69.04 -2.2%Aug 26, 2025
Leerink PartnersMichael Cherny$75$70.8 -11.6%Jul 14, 2025
BarringtonMichael Petusky$86$66.24 +1.3%May 6, 2025
CFRADaniel Rich$67$71.1 -21.1%Oct 15, 2024
Evercore ISIElizabeth Anderson$74$69.3 -12.8%Oct 8, 2024
Robert W. BairdJeff Johnson$92$70.34 +8.4%Jul 22, 2024
Stifel NicolausJonathan Block$70$64.07 -17.5%Nov 13, 2023
Stifel NicolausJonathan Block$80$73.17 -5.7%Jun 17, 2022
Robert W. BairdJeff Johnson$88$78.82 +3.7%Jun 14, 2022
BarclaysSteven Valiquette$82$77.3 -3.4%Aug 4, 2021
Show less

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Company context

Snapshot as of publication

Henry Schein, Inc. (HSIC) is a global leader in delivering a comprehensive suite of healthcare products and services. The company caters to a diverse clientele across the globe, including dental professionals and laboratories, physician practices, governmental entities, and various institutional and alternative healthcare facilities. Its operations are organized into two principal segments: Health Care Distribution, and Technology and Value-Added Services. The Health Care Distribution division supplies an extensive array of dental goods, encompassing consumables (such as infection control items, impression materials, composites, anesthetics, and artificial teeth), specialized tools and equipment (like handpieces, dental chairs, delivery units, X-ray machinery, and advanced digital restoration systems), and personal protective equipment.…

Historical context

All HSIC earnings

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Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-10-04T06:20:43.826822+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T06:20:43.823902+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.