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Henry Schein Sales Sink as Americans Put Off Dental Visits

By Christiana Sciaudone

Investing.com --  We hope you've been brushing your teeth during the lockdowns, because most of you apparently haven't been going to the dentist.

Dental product company Henry Schein (NASDAQ:HSIC) saw sales sink 31% in the second quarter as Americans canceled dental appointments and stayed home to prevent the spread of Covid-19. Shares of the company are down 1.9%

The stock is up 60% since March.

Analysts don't seem optimistic about a return to normal for dentist visits. The stock has no buy ratings, four holds and one sell. It has an average price target of $58, with shares trading about 18% higher now.

Chief Executive Officer Stanley Bergman said sales improved compared to their original expectations over the quarter as dental and medical offices went back to work faster than anticipated. 

“We remain cautiously optimistic about the immediate future while closely monitoring global diagnosed COVID-19 cases and the potential impact on customer activity, and focusing on cash management," Bergman said. "Our enthusiasm for both our near- and long-term business prospects remains unchanged.”



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