Shares of Henry Schein, Inc. (NASDAQ:HSIC), a global distributor of dental, medical, and animal health products, declined after reporting an unexpected slowdown in its North American dental and equipment sales. No specific reasons for the slowdown have emerged, and we believe that it is too early to extrapolate a trend. While performance in other divisions was solid, Schein’s earnings guidance was revised downward for the first time in several years. We are monitoring events but remain positive given, in our opinion, the company’s strong management, consistent performance, and large market opportunities.
From Baron Funds' Barron Asset Fund third-quarter 2016 commentary.
