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Henry Schein shares surge on optimistic 2017 outlook

Shares of health care products provider Henry Schein gained 6 percent Wednesday after the company gave optimistic guidance.

The company said it expects fiscal 2017 earnings per share between $7.17 and $7.30, which would represent growth between 17 percent and 19 percent on a GAAP basis or between 9 percent and 11 percent on an adjusted basis.

It also reaffirmed current-year guidance for earnings between $6.55 and $6.60 a share, roughly in line with analyst estimates for about $6.58 per share, according to a FactSet consensus estimate.

Henry Schein also reported adjusted earnings of $1.68 per share on $2.87 billion in revenue. Analysts had projected earnings per share of $1.65 on revenue of $2.88 billion, according to a Thomson Reuters consensus estimate.

The stock has gained about 1 percent in the last 12 months.