Zacks Investment Research Upgrades Henry Schein, Inc. (HSIC) to Buy
Zacks Investment Research upgraded shares of Henry Schein, Inc. (NASDAQ:HSIC) from a hold rating to a buy rating in a report published on Thursday, May 25th. Zacks Investment Research currently has $204.00 target price on the stock.
According to Zacks, “Since the company delivered better-than-expected first-quarter 2017 performance a month back, Henry Schein has consistently outperformed the S&P 500 market at large with respect to share price movement. Apart from balanced segmental growth across all its operating segments, the company’s share gains in both the U.S. and overseas markets raise optimism. Management is also upbeat about several strategic tie ups made during the reported quarter. We keenly await Henry Schein’s impending buyouts of Marrodent and SAS to capture the bountiful dental market opportunities. On the flip side despite a strong quarterly show, the company’s unchanged EPS guidance for 2017 is uninspiring. Meanwhile, the year-over-year decline in Henry Schein’s margins was due to higher cost of sales and expenses. Also, foreign currency fluctuations continued to mar the company’s financials.”
HSIC has been the topic of several other research reports. Barrington Research lifted their price objective on shares of Henry Schein from $196.00 to $198.00 and gave the stock an outperform rating in a research note on Wednesday, May 10th. Jefferies Group LLC reiterated a hold rating and issued a $165.00 target price on shares of Henry Schein in a report on Tuesday, February 28th. Craig Hallum initiated coverage on shares of Henry Schein in a report on Tuesday, April 11th. They set a hold rating for the company. Stifel Nicolaus raised their price target on shares of Henry Schein from $174.00 to $178.00 and gave the stock a hold rating in a report on Wednesday, May 10th. Finally, Leerink Swann set a $183.00 price target on shares of Henry Schein and gave the stock a hold rating in a report on Wednesday, February 22nd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $184.08.
Shares of Henry Schein (NASDAQ HSIC) traded down 0.51% on Thursday, reaching $182.73. 588,950 shares of the company were exchanged. Henry Schein has a 52-week low of $146.23 and a 52-week high of $186.99. The stock has a 50 day moving average of $180.32 and a 200-day moving average of $167.54. The company has a market capitalization of $14.50 billion, a P/E ratio of 27.77 and a beta of 1.10.
Henry Schein (NASDAQ:HSIC) last announced its quarterly earnings data on Tuesday, May 9th. The company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.11. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Henry Schein had a net margin of 4.53% and a return on equity of 19.74%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. On average, analysts predict that Henry Schein will post $7.28 EPS for the current fiscal year.
In other Henry Schein news, SVP Lorelei Mcglynn sold 9,300 shares of the business’s stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $171.76, for a total transaction of $1,597,368.00. Following the completion of the sale, the senior vice president now directly owns 33,048 shares of the company’s stock, valued at approximately $5,676,324.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Racioppi sold 9,969 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $171.69, for a total value of $1,711,577.61. Following the sale, the senior vice president now directly owns 33,057 shares of the company’s stock, valued at $5,675,556.33. The disclosure for this sale can be found here. Insiders sold a total of 31,847 shares of company stock worth $5,511,353 in the last 90 days. 1.27% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in HSIC. Achmea Investment Management B.V. bought a new stake in shares of Henry Schein during the first quarter worth approximately $3,661,000. Cambridge Trust Co. bought a new stake in shares of Henry Schein during the first quarter worth approximately $240,000. Bank of Nova Scotia boosted its stake in shares of Henry Schein by 927.6% in the first quarter. Bank of Nova Scotia now owns 18,137 shares of the company’s stock worth $3,083,000 after buying an additional 16,372 shares during the period. Summit Global Investments raised its position in shares of Henry Schein by 57.7% in the first quarter. Summit Global Investments now owns 4,955 shares of the company’s stock valued at $842,000 after buying an additional 1,812 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Henry Schein by 52.0% in the first quarter. Point72 Asset Management L.P. now owns 322,763 shares of the company’s stock valued at $54,860,000 after buying an additional 110,463 shares in the last quarter. 91.11% of the stock is owned by institutional investors.
About Henry Schein
Henry Schein, Inc is a provider of healthcare products and services primarily to office-based dental, animal health and medical practitioners. The Company operates through two segments: healthcare distribution, and technology and value-added services. The healthcare distribution segment distributes consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Henry Schein Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Henry Schein Inc. and related stocks with our FREE daily email newsletter.