Henry Schein to Offer CAS' Fully-Automated Cognivue Device

Henry Schein Medical, a subsidiary of Henry Schein, Inc. HSIC, recently inked an agreement with Cerebral Assessment Systems (“CAS”) to distribute Cognivue. This is the first computerized cognitive assessment screening device cleared by the FDA for the detection of early signs of dementia. We believe this development will bolster growth for the company in the field of mental cognitive diseases.

CAS is a medical device company engaged in researching and commercializing automated solutions for the routine measurement and monitoring of brain health.

According to the company, Cognivue is a fully-automated solution displaying visual stimuli on a computer screen. Physicians conduct quantitative analysis of brain health to get a single score of overall brain functional integrity. The results are stored in the cloud enabling doctors to observe current brain health and identify potential issues that can be addressed before problems worsen.

 

Henry Schein is consistently working toward boosting its Medical segment. Notably, worldwide Medical revenues rose 6.1% year over year in the last reported second quarter. Recently, Henry Schein announced a partnership with Simplifeye to create a mobile platform for health care providers who use its practice management and electronic health record software — MicroMD.

According to a report by Research and Markets, the global treatment for syndromes of dementia and movement disorders market is anticipated to reach a value of $21,154.8 million in 2020, at a CAGR of 8.6%.Considering the huge potential of the market, we believe the latest development is strategic.

Over the past year, Henry Schein has underperformed the broader industry. The stock has gained 0.2%, compared with the 9.5% gain of the broader industry.

Estimate Revision Trend

The estimate revision trend has been favorable for the company. For the current quarter, two estimates moved north compared with two movements in the opposite direction over the last one month. As a result, the Zacks Consensus Estimate for current-quarter earnings per share has increased to 90 cents from 89 cents over the same period.

Zacks Rank & Key Picks

Henry Schein currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the medical sector are Orthofix International N.V. OFIX, Luminex Corporation LMNX and IDEXX Laboratories, Inc. IDXX. Orthofix International and Luminex sport a Zacks Rank #1 (Strong Buy), while IDEXX Laboratories carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Orthofix International has a long-term expected earnings growth rate of 11.8%. The stock has rallied roughly 39.1% over the last six months.

Luminex has a long-term expected earnings growth rate of 16.3%. The stock has gained 14.1% over the last six months.

IDEXX Laboratories has a long-term expected earnings growth rate of 19.8%. The stock has gained 39.2% over the last year.

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