Benzinga | May 4, 2021 12:24PM EDT

Henry Schein Stock Is Trading Higher On Beating On Q1 Earnings, Raised EPS Guidance

* Henry Schein Inc (NASDAQ: HSIC) raised its 2021 guidance after reporting first-quarter earnings, which topped the consensus.

* It posted an adjusted EPS of $1.24 ahead of the consensus of $0.85. Reported EPS came in at $1.16 compared to $0.91 a year ago.

* Net sales of $2.9 billion were well above the consensus of $2.8 billion, increased 20.4% Y/Y, and included 14.9% internal growth in local currencies, 3.3% growth from acquisitions, and 2.2% growth related to foreign currency exchange.

* Its medical segment registered global sales growth of 24% to $993 million, while its dental business' revenues increased 21.3% to $1.8 billion.

* Guidance: Henry Schein raised its FY21 financial guidance, setting its projected adjusted EPS at $3.70 or above, versus analyst consensus of $3.72.

* Price Action: HSIC shares are up 6.20% at $78.60 during the market trading session on the last check Tuesday.