Henry Schein, Inc. HSIC recently partaken in the Ambulatory Surgery Center Association’s (ASCA) National Advocacy Day on Capitol Hill in Washington D.C. The company joined as part of its commitment to augment the value of ambulatory surgery centers (ASCs) and their role in driving down healthcare costs and delivering quality patient care.
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With an aim to build relationships with the policymakers who make the decisions that directly impact the ambulatory surgery center community and its patients, management of Henry Schein’s Surgical Solutions, along with 91 members of the ASC community representing 31 different states, met with representatives and their health staff to discuss the issues presently affecting ASCs and their patients.
The meetings addressed the Outpatient Surgery Quality and Access Act of 2023, which, if passed, will ensure Medicare beneficiaries’ continued access to high-quality outpatient surgery.
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Per ASCA, about 6,100 Medicare-certified ASCs offer care to America’s patients across the country. ASCA’s 2023 National Advocacy Day event was the first in-person event of its kind since 2019.
Per management, ambulatory surgery centers have a positive impact on the healthcare ecosystem. By working together on the federal, state, and local levels, the company can bring change and help make an impact on legislation that will raise and advance the ASC industry.
Per a report by Grand View Research, the U.S. ambulatory surgery centers market was valued at $34.8 billion in 2021 and is expected to expand at a CAGR of 6.0% by 2030. The low expenditures compared with hospitals, favorable reimbursement scenarios, and reduce risk of infection are the factors driving the market.
In December 2022, Henry Schein entered into a definitive agreement to acquire a majority ownership position in Biotech Dental. The acquisition aims to expand Henry Schein’s offering in several fast-growing product segments, including clinical software and oral surgery and orthodontic products.
In November 2021, Henry Schein One, a joint venture of Henry Schein, launched Dentrix Detect AI-powered and manufactured by VideaHealth -- an AI-enabled X-Ray analysis tool that integrates directly into Dentrix Practice Management Systems.
Shares of the company have lost 8.6% in a year compared with the industry’s fall of 5.9%.
Zacks Rank and Other Key Picks
Currently, Henry Schein carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the overall healthcare sector include Haemonetics Corporation HAE, TerrAscend Corp. TRSSF and Akerna Corp. KERN . Haemonetics and TerrAscend both sport a Zacks Rank #1, while Akerna carries a Zack Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 42.1% in the past year. Earnings Estimates for Haemonetics have increased from $2.87 per share to 2.91 for 2023 and from $3.02 per share to $3.28 for 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the last four quarters, delivering an average surprise of 10.98%. In the last reported quarter, it reported an earnings surprise of 7.59%.
Estimates for TerrAscend in 2023 have remained constant at a loss of 10 cents per share in the past 30 days. Shares of TerrAscend have declined 70.6% in the past year.
TerrAscend’s earnings beat estimates in one of the last three quarters and missed the mark in the other two, the average negative surprise being 136.11%. In the last reported quarter, TRSSF delivered an earnings surprise of 216.67%.
Akerna’s stock declined 95.7% in the past year. Its estimates for 2023 have remained constant at a loss of $1.91 per share over the past 30 days.
Akerna missed earnings estimates in each of the last four quarters, delivering a negative earnings surprise of 15.49%, on average. In the last reported quarter, KERN delivered a negative earnings surprise of 13.33%.
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