Sluggish Growth For Henry Schein, Share Values Decline

Jefferies & Co. has published a research report on Henry Schein

after the company reported EPS guidance in-line with consensus, but still managed to disappoint investors. In the report, Jefferies writes "Management established 2011 EPS guidance in a range of $3.88-$3.98 (10%-13% growth) compared to the Street at $3.93. Dental consumables are expected to be flat to slightly up with dental equipment faring only slightly better. Other market segment expectations reflect a similarly cautious outlook. The assumptions are appropriate, in our view, given the macro backdrop. There could be some upside in the equipment driven by continued pent up demand as well as more clarity on small business tax incentives following this week's elections." Jefferies & Co. maintains its Hold rating and $61 price target. Henry Schein closed Friday at $56.15.