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HSIC Stock Price Increased By 7.92%: Here’s What Happened

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Henry Schein, Inc. (Nasdaq: HSIC)’s stock price increased by 7.92% as of April 4. The closing price of May 4 was 79.87 which is 5.86 more than the previous closing price(May 3) of 74.01. May 4’s opening price was 72.61 and the volume was 2,250,274. The day’s range was 72.60 – 80.06. 

However, the pre-market price as of May 5, 4:05AM EDT stands at 79.86 which is (-0.01%) less than May 4’s closing price.

Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, today reported record first-quarter financial results from continuing operations. Results from continuing operations exclude contributions from Henry Schein’s former Animal Health business, which was spun off in February 2019 to form a new publicly traded company, Covetrus (Nasdaq: CVET).

Total net sales for the quarter ended March 27, 2021, were $2.9 billion, up 20.4% compared with the first quarter of 2020. The 20.4% increase included 14.9% internal growth in local currencies, 3.3% growth from acquisitions, and 2.2% growth related to foreign currency exchange. (See Exhibit A for details of sales growth).

GAAP net income attributable to Henry Schein, Inc. from continuing operations for the first 

quarter of 2021 was $166.0 million, or $1.16 per diluted share, compared with prior-year GAAP net income from continuing operations of $130.5 million, or $0.91 per diluted share. Non-GAAP net income from continuing operations for the first quarter of 2021 was $177.7 million, or $1.24 per diluted share, compared with prior-year non-GAAP net income from continuing operations of $134.1 million, or $0.94 per diluted share. Exhibit B provides a reconciliation of GAAP net income and diluted EPS from continuing operations to non-GAAP net income and diluted EPS from continuing operations.

“We are pleased with exceptional first-quarter global financial performance versus the comparable prior-year period, and also compared to the first quarter of 2019, which is the result of planning and excellent execution across all of our businesses. We also delivered a very strong operating margin for the quarter. While end markets in most geographies still face challenges due to the ongoing pandemic, the overall market recovery and our improving financial results have continued. Our positive momentum reflects the adaptiveness of our business model as well as the commitment of Team Schein Members to our customers and our communities,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “Throughout these unprecedented times, Henry Schein has remained focused on the safety of our team and on responding to our customers’ needs, as well as on driving innovation, gaining market share, enhancing our margin profile, and optimizing our cost structure. We believe all of this positions us well to continue to drive earnings growth and create value over the long-term.”

Global Dental sales for the first quarter of 2021 of $1.8 billion increased 21.3% versus the prior-year period. In local currencies, internally generated sales increased 13.7% with 4.2% growth from acquisitions and 3.4% growth related to foreign currency exchange. The 13.7% internal growth in local currencies included an increase of 10.9% in North America and an increase of 17.9% internationally.

Global Dental consumable merchandise internal sales increased by 13.2% in local currencies. Excluding sales of personal protective equipment (PPE) and COVID-19 related products, growth was 10.9%. In North America, dental consumable merchandise internal sales in local currencies increased 9.3%, or 6.9% excluding sales of PPE and COVID-19 related products, and dental equipment internal sales in local currencies increased 17.4%. Internationally, dental consumable merchandise internal sales in local currencies increased 19.2%, or 16.7% excluding sales of PPE and COVID-19 related products, and dental equipment internal sales in local currencies increased 12.9%.

“For the first quarter, our dental sales in both North America and international markets were strong, including significant growth in North America dental equipment sales versus the fourth quarter of 2020,” noted Mr. Bergman. “Global Dental Specialty sales were also strong with year-over-year internal growth of 18.3% in local currencies. We remain optimistic about the stability and health of the global dental markets we serve, despite rising COVID-19 cases in certain geographies, as patient traffic and practice spending have steadily improved since the first few months of the pandemic.”

Global Medical sales for the first quarter of 2021 of $993.0 million increased 24.0% versus the comparable period last year, consisting of 22.1% internal growth in local currencies, 1.6% growth from acquisitions and 0.3% growth related to foreign currency exchange. Excluding sales of PPE and COVID-19 related products, internal sales in local currencies decreased 6.8%, in part resulting from an extremely mild influenza season that impacted diagnostic and consumable merchandise sales, as well as from lower pharmaceutical sales related to fewer patient office visits due to COVID-19.

“We are pleased to report strong double-digit global Medical sales growth during the first quarter. We expect the physician, ambulatory surgery center, alternate care and home health markets to improve over time as infection levels abate and patient volumes normalize. That said, we expect COVID-19 test sales to decline, primarily as a result of unit price erosion,” remarked Mr. Bergman.

“While sales of PPE products have begun to moderate from recent quarterly growth rates in both our Dental and Medical businesses, we expect PPE sales will remain at elevated levels as dentists and physicians implement new standard-of-care best practices,” said Mr. Bergman.

Global Technology and Value-Added Services sales of $143.0 million increased 8.4% versus the prior-year quarter and included 3.6% internal sales growth in local currencies, 3.4% growth from acquisitions and 1.4% growth related to foreign currency exchange.

“Global Technology and Value-Added Services sales have steadily improved over the last several quarters, with Henry Schein One internal sales in local currencies increasing by 2.6% in the first quarter, representing continued sequential-quarter growth. In addition, financial services internal sales in local currencies increased by 22.5%, in part driven by higher sales of dental equipment,” noted Mr. Bergman.

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Top 5 Stock Price Gainers of May 17: US Stock Market

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Consumer Automotive Finance, Inc. (OTCMKTS: NWAU)

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Apellis Pharmaceuticals, Inc. (NASDAQ: APLS)

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Globalstar, Inc. (NYSE: GSAT)

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Hecla Mining Company (NYSE: HL)

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Discovery, Inc. (NASDAQ: DISCB)

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AbCellera Biologics Inc. (NASDAQ: ABCL)

AbCellera Biologics Inc. (NASDAQ: ABCL)’s stock price increased by 8.74% over the previous closing price of $28.25. The price, as of May 12 closing price, is $30.72. The Pre-market price is stagnant as of 4:59 AM EDT, May 13. 

 

UWM Holdings Corporation Class (NYSE: UWMC) 

UWM Holdings Corporation Class (NYSE: UWMC)’s stock price increased by 8.96% on May 12. May 12’s closing price was $0.59 more than the previous ( May 11) closing price of $6.79. The opening price of May 12 was $6.74; the range was 6.70 – 7.61 and the volume was 9,919,270. However, the Pre-market price says a different story. The price has dropped, as of 5:35 AM EDT by 3.12% and currently stands at $7.15.

 

CVR Energy, Inc. (NYSE: CVI)

CVR Energy, Inc. (NYSE: CVI)’ stock price as of May 12 was $22.77, which is $1.79 more than the previous closing price of $20.98. The day’s range was  22.02-23.90 and the volume was 1,595,046. The opening price as of May 12 was $22.96.

 

Intercorp Financial Services Inc. (NYSE: IFS)

Intercorp Financial Services Inc. (NYSE: IFS)’s stock price increased by 11.31%. The closing price as of May 12 was $29.43, which is $2.26(8.32%) more than the previous closing price of $27.17. The volume was 82,164 and the range was 27.16 – 29.86. The opening price of May 12  was $25.14. 

 

Pershing Square Tontine Holdings, Ltd. (NYSE: PSTH)

Pershing Square Tontine Holdings, Ltd. (NYSE: PSTH)’ stock price increased by a good amount of 7.33%. The closing price as of May 12 was $24.38, which is $1.75 more than the previous closing price of  $22.63. The price has dropped as of 5:17 AM EDT, May 13, Pre-market, and stands at $24.22. 

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Hecla Mining Company (NYSE: HL)

Hecla Mining Company’s (NYSE: HL) closing stock price as of May 6 was $7.29. This showed a growth of 16.64% over the previous closing price of $6.25. The opening price was $6.41, with the volume being 24,884,791 and the day’s range being 6.41 – 7.32. 

GCL-Poly Energy Holdings Limited (OTCMKTS: GCPEF)

GCL-Poly Energy Holdings Limited’s (OTCMKTS: GCPEF) stock price increased by 13.33% over the previous( May 5) closing price of $0.2250. The opening price of May 6 was $0.2400. The volume was 196,480 and the day’s range was 0.2300 – 0.2600.

Ambev S.A. (NYSE: ABEV)

Ambev S.A. (NYSE: ABEV) stock price increased to $3.1200(closing price, May 6) from $2.7900(closing price, May 5). The growth percentage was recorded to be 11.83%. The opening price of May 6 was 3.0600, the volume being 62,369,302 and the range being 2.9800 – 3.1200. 

Sunrun Inc. (NASDAQ: RUN)

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