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  "documentTitle": "Henry Schein, Inc. (HSIC)",
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  "presentationDate": "2018-09-26 00:00:00",
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  "notes": "The slide highlights a discrepancy between sell-side analyst 'whisper' numbers and the activist's own projections.",
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      "text": "At the moment, there are not many analysts offering projections on VFC. Spruce Point estimates are materially higher than whisper numbers that we have heard Morgan Stanley and Goldman Sachs are using for Vets First Corp.",
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      "text": "EBITDA projections for 2018E, 2019E, 2020E",
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      "text": "At the moment, there are not many analysts offering projections on VFC. Spruce Point estimates are materially higher than whisper numbers that we have heard Morgan Stanley and Goldman Sachs are using for Vets First Corp.",
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      "text": "Source: Spruce Point Research (1) Whisper numbers believed to be from analyst models where they were separately modeling Vets First Corp",
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      "text": "Vets First Corp -- Consensus vs. Spruce Point",
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