Dental stocks slide after Henry Schein's downbeat profit forecast

Patterson Companies

16/02/2023 16:46

** Dental-linked stocks like Align Technology Inc  ALGN.O ,
Envista Holdings Corp  NVST.N , Dentsply Sirona Inc  XRAY.O  and
Patterson Companies Inc  PDCO.O  down between 1% and 4% 
    ** Peer Henry Schein Inc  HSIC.O  sees 2023 adj profit in
range of $5.25/shr to $5.42/shr, which when adjusted to include
amortization charges comes down to $4.69/shr-$4.86/shr vs
Refinitiv est of $4.95/shr
    ** HSIC down 6.3% at $83.07
    ** HSIC reported Q4 dental sales at $2.01 bln vs est of
$2.12 bln, hit by patient appointment cancellations and staffing
shortages due to high incidence of flu and COVID-19 cases
    ** Brokerage Baird Equity Research had warned of macro
headwinds hitting global dental consumables market in 2023
    ** In last 12 months, ALGN and XRAY have lost 36%, NVST 20%
and PDCO has declined 5%
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))