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Henry Schein Acquired RxWorks and Greggs Increased Sales


Jan. 18 2016, Updated 4:39 p.m. ET

Price movement of Henry Schein

Henry Schein (HSIC) rose by 0.05% to close at $146.45 per share as of January 12, 2016. The price movement was -2.4%, -4.4%, and -7.3%, respectively. Currently, HSIC is trading 4.5% below its 20-day moving average, 5.1% below its 50-day moving average, and 1.3% above its 200-day moving average.

The PowerShares DWA Momentum ETF (PDP) invests 2.4% of its holding in Henry Schein. The ETF tracks an index of 100 US-listed large-cap and mid-cap companies selected and weighted by relative stock performance.

The competitors of Henry Schein (HSIC) and their market cap are as follows:

  • McKesson (MCK): $38.0 billion
  • Cardinal Health (CAH): $26.7 billion
  • Patterson Companies (PDCO): $4.0 billion
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Henry Schein’s acquisition of RxWorks

Henry Schein has entered into an agreement to acquire RxWorks. The company expects the acquisition to close in the second half of January 2016, and to be dilutive by less than $0.01 to 2016 EPS (earnings per share) and accretive to 2017 EPS by ~$0.01.

Henry Schein Animal Health has completed the purchase of an 80.1% interest in Vetstreet.

Performance of Henry Schein in recent 3Q15

Henry Schein reported 3Q15 net sales of $2,685.8 million, a rise of 2.4% compared to the net sales of $2,623.7 million in fiscal 3Q14. Its net income and EPS (earnings per share) rose to $127.7 million and $1.52, respectively, in fiscal 3Q15, as compared to its net income and EPS of $114.8 million and $1.34, respectively, in fiscal 3Q14.

Meanwhile, its cash and cash equivalents fell by 32.4% and inventories rose by 7.3% in fiscal 3Q15 compared to fiscal 4Q14. Its debt-to-equity ratio fell to 0.97 in fiscal 3Q15 compared to the debt-to-equity ratio of 0.98 in fiscal 4Q14.

The company has projected the adjusted diluted EPS in the range of $5.90 to $5.96 and $6.55 to $6.65 for fiscal 2015 and fiscal 2016, respectively.

Performance of Greggs in fiscal 4Q15 and fiscal 2015:

Greggs reported the following results for fiscal 2015:

  • Total sales were up by 5.2% over fiscal 2014.
  • Shop like-for-like sales were up by 4.7% over 2014.
  • 122 new shops opened and 74 shops closed.
  • 1,698 shops are in operation as of January 2, 2016.

Greggs reported the following results for fiscal 4Q15:

  • Shop like-for-like sales up by 2.3% over fiscal 4Q14.

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