Zacks Investment Research Upgrades Henry Schein Inc. (HSIC) to Hold
Henry Schein Inc. (NASDAQ:HSIC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “We are disappointed with Henry Schein lowering the upper end of the previously provided EPS guidance range for 2016. Meanwhile, foreign currency fluctuations and competitive headwinds continue to impede the company’s business. However, on a positive note, Henry Schein’s impending acquisition of Marrodent should help it tap into the abundant dental market opportunities in Poland. We are also encouraged by the company’s recent strong share gains in both North American and overseas markets. Its recent investment in Custom Automated Prosthetics – a U.S. digital laboratory supply company offering CAD/CAM equipment and zirconia materials, buoys optimism. However, the company’s weakness in North American Dental sales was less than expectation. The year-over-year deterioration in Henry Schein’s gross margin figure on account of higher cost of sales also depresses us.”
A number of other equities analysts have also recently commented on the stock. Robert W. Baird reissued an “outperform” rating and issued a $176.00 price objective (up from $175.00) on shares of Henry Schein in a research note on Tuesday. Bank of America Corp. began coverage on shares of Henry Schein in a research note on Monday, September 12th. They issued a “buy” rating and a $185.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $157.92.
Shares of Henry Schein (NASDAQ:HSIC) traded up 0.89% during trading on Wednesday, hitting $161.47. 274,604 shares of the company traded hands. Henry Schein has a 52 week low of $136.01 and a 52 week high of $183.00. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 27.35 and a beta of 1.05. The company has a 50 day moving average price of $162.59 and a 200 day moving average price of $170.62.
Henry Schein (NASDAQ:HSIC) last posted its earnings results on Thursday, August 4th. The company reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.01. The company earned $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Henry Schein had a net margin of 4.42% and a return on equity of 17.84%. Henry Schein’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $1.46 earnings per share. On average, analysts expect that Henry Schein will post $6.57 earnings per share for the current year.
In related news, Director Paul Brons sold 3,381 shares of Henry Schein stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $164.03, for a total transaction of $554,585.43. Following the completion of the sale, the director now owns 13,715 shares in the company, valued at approximately $2,249,671.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.27% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Henry Schein by 2.2% in the second quarter. Vanguard Group Inc. now owns 7,493,463 shares of the company’s stock valued at $1,324,844,000 after buying an additional 161,065 shares in the last quarter. BlackRock Fund Advisors raised its stake in Henry Schein by 2.4% in the second quarter. BlackRock Fund Advisors now owns 2,369,132 shares of the company’s stock valued at $418,863,000 after buying an additional 55,384 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Henry Schein by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,342,943 shares of the company’s stock valued at $404,462,000 after buying an additional 8,593 shares in the last quarter. Janus Capital Management LLC raised its stake in Henry Schein by 16.5% in the second quarter. Janus Capital Management LLC now owns 2,027,848 shares of the company’s stock valued at $358,522,000 after buying an additional 286,929 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Henry Schein by 55.7% in the second quarter. UBS Asset Management Americas Inc. now owns 802,401 shares of the company’s stock valued at $141,865,000 after buying an additional 286,976 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.
About Henry Schein
Henry Schein, Inc is a provider of health care products and services to office-based dental, animal health and medical practitioners. The Company’s segments include healthcare distribution, and technology and value-added services. The healthcare distribution segment aggregates its global dental, animal health and medical operating segments.
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