Analyst Consensus ?
ConsensusHold33 ratings
Bullish1545.5%
Neutral1545.4%
Bearish39.1%
Henry Schein, Inc. · HSIC · FY2026 Q1 · Calendar Q2 2026
Henry Schein Q1 2026: Sales Up 6.3%, Margin Expansion as Value-Creation Plan Advances
Henry Schein's Q1 FY2026 results demonstrate execution across multiple levers: 6.3% revenue growth led by U.S. dental and global technology, non-GAAP operating margin expansion to 7.53% from early value-creation benefits, and a strategic S.I.N. 360 acquisition deepening the implant portfolio. The 10% EPS beat and reaffirmed full-year guidance reflect management confidence in the path toward over $200M of operating-income improvement. Key watch items include margin sustainability amid rising freight costs, a light flu season dampening diagnostics demand, and the cadence of implant growth as the value-versus-premium mix evolves.
Reported Before market openNASDAQHealthcare
$9.70B market cap
100quality score
Company context
Snapshot as of publicationHenry 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.…
Earnings scorecard
Reported versus consensus
Reported EPS
$1.32
Consensus $1
EPS surprise
+10.0%
Reported versus consensus
Reported revenue
$3.37B
Consensus $3.34B
Revenue surprise
+0.8%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$85.75Current
$64Low
$83.63Average
$100High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Piper Sandler | Overweight | Overweight | Maintain | Jul 29, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 28, 2026 |
| BTIG | Buy | Neutral | Upgrade | Jun 11, 2026 |
| Mizuho | Neutral | Neutral | Maintain | May 6, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Apr 24, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Apr 8, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Feb 25, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Feb 25, 2026 |
| Barrington Research | Outperform | Outperform | Maintain | Feb 25, 2026 |
| Leerink Partners | Market Perform | Market Perform | Maintain | Feb 24, 2026 |
| Baird | Outperform | Neutral | Upgrade | Feb 23, 2026 |
| Stifel | Hold | Buy | Downgrade | Jul 25, 2025 |
| Jefferies | Hold | Hold | Maintain | Jan 23, 2025 |
| B of A Securities | Buy | Underperform | Upgrade | Jan 6, 2025 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 8, 2023 |
| Goldman Sachs | Neutral | Buy | Downgrade | Jul 21, 2022 |
| CFRA | Hold | Hold | Maintain | May 5, 2020 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Apr 2, 2020 |
| Barclays | Equal Weight | Equal Weight | Maintain | Mar 31, 2020 |
| Bank of America | Neutral | Neutral | Maintain | Dec 3, 2019 |
| William Blair | Market Perform | Outperform | Downgrade | Aug 7, 2019 |
| SVB Leerink | Market Perform | Outperform | Downgrade | May 15, 2019 |
| Guggenheim | Buy | Buy | Maintain | Apr 18, 2019 |
| Edward Jones | Sell | Hold | Downgrade | Oct 25, 2018 |
| Stifel Nicolaus | Hold | Hold | Maintain | Aug 7, 2018 |
| Deutsche Bank | Buy | Buy | Maintain | Apr 24, 2018 |
| Leerink Swann | Outperform | Market Perform | Upgrade | Apr 4, 2018 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Nov 28, 2017 |
| Craig-Hallum | Buy | Hold | Upgrade | Nov 7, 2017 |
| RBC Capital | Perform | Sector Perform | Maintain | Sep 19, 2017 |
| PiperJaffray | Overweight | Neutral | Upgrade | Sep 15, 2017 |
| Gabelli & Co. | Buy | Hold | Upgrade | Jan 10, 2017 |
| ISI Group | Underweight | Underweight | Maintain | Jul 12, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $85.75. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $89 | $85.88 | +3.8% | Jul 28, 2026 |
| BMO Capital | Vik Chopra | $85 | $83.22 | -0.9% | Jul 8, 2026 |
| BTIG | Analyst unavailable | $100 | $78.85 | +16.6% | Jun 11, 2026 |
| UBS | Kevin Caliendo | $85 | $74.35 | -0.9% | May 6, 2026 |
| Mizuho Securities | Analyst unavailable | $82 | $74.37 | -4.4% | May 6, 2026 |
| Robert W. Baird | Analyst unavailable | $97 | $74.37 | +13.1% | May 6, 2026 |
| Morgan Stanley | Erin Wright | $64 | $78.22 | -25.4% | Apr 24, 2026 |
| Barrington | Analyst unavailable | $97 | $81.6 | +13.1% | Feb 25, 2026 |
| Leerink Partners | Analyst unavailable | $87 | $83.35 | +1.5% | Feb 24, 2026 |
| Robert W. Baird | Analyst unavailable | $100 | $79.57 | +16.6% | Feb 23, 2026 |
| Mizuho Securities | Steven Valiquette | $81 | $79.98 | -5.5% | Jan 20, 2026 |
| Barclays | Analyst unavailable | $86 | $72.86 | +0.3% | Dec 8, 2025 |
| Evercore ISI | Analyst unavailable | $90 | $71.68 | +5.0% | Nov 5, 2025 |
| Barrington | Analyst unavailable | $79 | $71.32 | -7.9% | Nov 5, 2025 |
| Evercore ISI | Analyst unavailable | $83 | $69.04 | -3.2% | Aug 26, 2025 |
| Leerink Partners | Michael Cherny | $75 | $70.8 | -12.5% | Jul 14, 2025 |
| Barrington | Michael Petusky | $86 | $66.24 | +0.3% | May 6, 2025 |
| CFRA | Daniel Rich | $67 | $71.1 | -21.9% | Oct 15, 2024 |
| Evercore ISI | Elizabeth Anderson | $74 | $69.3 | -13.7% | Oct 8, 2024 |
| Robert W. Baird | Jeff Johnson | $92 | $70.34 | +7.3% | Jul 22, 2024 |
| Stifel Nicolaus | Jonathan Block | $70 | $64.07 | -18.4% | Nov 13, 2023 |
| Stifel Nicolaus | Jonathan Block | $80 | $73.17 | -6.7% | Jun 17, 2022 |
| Robert W. Baird | Jeff Johnson | $88 | $78.82 | +2.6% | Jun 14, 2022 |
| Barclays | Steven Valiquette | $82 | $77.3 | -4.4% | Aug 4, 2021 |
Track every rating change on HSIC the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
+3.3%
Event window
SPY move
+0.8%
Same window
Abnormal move
+2.5%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+1.8%
Up to 20 sessions
HSICSPY benchmark
Follow HSIC with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeTranscript intelligence
What changed
Versus Q4 FY2025, revenue growth moderated from 7.7% to 6.3% YoY while non-GAAP operating margin expanded to 7.53%. The value-creation target was broadened from a $125M run-rate to over $200M total program scope. New CEO Fred Lowery, announced in Q4, is now in the role executing a 100-day listening tour. The S.I.N. 360 acquisition is a new strategic move not discussed in the prior quarter. The U.S. e-commerce platform now transacts 80% of dental e-commerce sales online, a rollout milestone. A light flu season and rising oil prices emerged as incremental headwinds not flagged in Q4.
Guidance delta
Full-year 2026 guidance unchanged from prior quarter: 3-5% sales growth, non-GAAP EPS of $5.23-$5.37, and mid-single-digit adjusted EBITDA growth. Management tone remained confident and guidance sentiment was maintained.
Key takeaways
- Q1 sales grew 6.3% YoY to $3.4B, driven by strong U.S. dental and global technology performance.
- Non-GAAP operating margin improved to 7.53%, reflecting early benefits from value-creation and pricing initiatives.
- EPS of $1.32 beat the $1.20 consensus by 10%; revenue of $3.37B exceeded estimates by 0.8%.
- Value-creation program now targets over $200M of operating-income improvement with a $125M run-rate by year-end 2026.
- Acquired controlling interest in S.I.N. 360 to deepen U.S. value-implant portfolio.
- Full-year 2026 guidance unchanged: 3-5% sales growth, non-GAAP EPS $5.23-$5.37, mid-single-digit EBITDA growth.
Management priorities
- Complete U.S. e-commerce platform rollout by end of August and expand internationally.
- Continue development and rollout of AI-enabled clinical workflow solutions.
- Integrate S.I.N. 360 operations to capture back-office efficiencies.
- Achieve over 50% contribution of high-growth, high-margin businesses to operating income by 2027.
- Maintain $125M run-rate of operating-income improvement through value-creation initiatives.
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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 . For educational purposes only; not investment advice.