It has been about a month since the last earnings report for Henry Schein (HSIC Quick QuoteHSIC - Free Report) . Shares have added about 0.9% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Henry Schein due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.

Henry Schein Tops on Q2 Earnings and Revenues

Henry Schein, Inc. reported second-quarter 2026 adjusted earnings of $1.27 per share, up 15.5% year over year. The bottom line surpassed the Zacks Consensus Estimate by 4.1%.

Net sales rose 6.7% to $3.46 billion and beat the consensus estimate by 2.8%. Results benefited from 4.6% internal sales growth, with gains across distribution, specialty products and technology. Acquisitions contributed 0.7% to growth, while foreign currency movements added 1.4%.

Henry Schein’s Distribution Business Gains

Global Distribution and Value-Added Services sales increased 6.6% to $2.91 billion. The segment generated 4.5% internal growth, a 0.6% contribution from acquisitions and a 1.5% foreign exchange benefit.

Global Medical Distribution sales advanced 4% to $1.06 billion, supported by 3.9% internal growth. Global Value-Added Services sales increased 5.1% to $61 million, reflecting 3.7% internal growth.

U.S. Distribution and Value-Added Services sales rose 4.6% to $1.95 billion. International sales in the segment climbed 10.7% to $965 million, aided by 5.5% internal growth and a 4.5% currency benefit.

HSIC’s Specialty and Technology Sales Rise

Global Specialty Products sales increased 8.7% to $419 million. Internal growth was 3.2%, acquisitions contributed 3.4% and foreign currency exchange added 2.1%.

Global Technology sales advanced 8.2% to $181 million. Internal sales grew 9.1%, partly offset by a 1.3% reduction related to a business disposal. Foreign exchange contributed 0.4%.

Technology delivered the company’s highest internal growth rate among its major reporting categories. The performance complemented steady gains in dental merchandise, medical distribution and specialty products.

HSIC’s Margin Performance

In the reported quarter, gross profit totaled $1.10 billion, representing an 8.4% increase year over year. The gross margin expanded 48 basis points (bps) to 31.8% despite a 6% rise in the cost of sales. Selling, general and administrative expenses increased 6.8% to $831 million. Operating income rose 13.2% to $171 million, while the operating margin expanded 28 bps year over year to 4.9%.

Liquidity Position of HSIC

Henry Schein exited the second quarter of 2026 with cash and cash equivalents of $157 million compared with $138 million at March-end. Cumulative net cash provided by operating activities at the end of the reported quarter was $145 million compared with $157 million a year ago.

Henry Schein Raises Its 2026 Outlook

Management raised its 2026 adjusted earnings guidance to $5.29-$5.39 per share, from the earlier $5.23-$5.37 range. The Zacks Consensus Estimate for earnings currently stands at $5.32 per share. The company also lifted its total sales growth forecast to 4.5%-5.5% from 3%-5%. The Zacks Consensus Estimate for sales is currently pegged at $13.72 billion, indicating 4.1% year-over-year growth.

Adjusted EBITDA is now expected to grow at a mid- to high-single-digit rate, compared with the prior expectation of mid-single-digit growth. Management cited sustained business momentum, margin improvement and early benefits from its value creation initiatives.

The updated outlook assumes foreign exchange rates remain generally consistent with current levels. It excludes future tariff refunds, remeasurement gains and several items that management does not consider representative of underlying performance.

How Have Estimates Been Moving Since Then?

It turns out, fresh estimates flatlined during the past month.

VGM Scores

At this time, Henry Schein has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of A on the value side, putting it in the top 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Henry Schein has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

Performance of an Industry Player

Henry Schein is part of the Zacks Medical - Dental Supplies industry. Over the past month, Conmed (CNMD Quick QuoteCNMD - Free Report) , a stock from the same industry, has gained 0.3%. The company reported its results for the quarter ended June 2026 more than a month ago.

Conmed reported revenues of $343.49 million in the last reported quarter, representing a year-over-year change of +0.3%. EPS of $1.38 for the same period compares with $1.15 a year ago.

For the current quarter, Conmed is expected to post earnings of $1.00 per share, indicating a change of -7.4% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.

Conmed has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.