Henry Schein, Inc. (HSIC) Short Interest Update
Henry Schein, Inc. (NASDAQ:HSIC) was the recipient of a significant growth in short interest during the month of September. As of September 29th, there was short interest totalling 8,187,143 shares, a growth of 47.2% from the September 15th total of 5,562,584 shares. Based on an average daily trading volume, of 1,754,214 shares, the days-to-cover ratio is currently 4.7 days. Approximately 5.3% of the company’s stock are short sold.
A number of research analysts recently weighed in on HSIC shares. Credit Suisse Group reissued a “hold” rating and set a $87.50 price target on shares of Henry Schein in a research report on Tuesday, August 29th. Piper Jaffray Companies raised shares of Henry Schein from a “neutral” rating to an “overweight” rating in a research report on Friday, September 15th. Stifel Nicolaus reissued a “hold” rating on shares of Henry Schein in a research report on Thursday, July 6th. UBS AG reissued a “buy” rating on shares of Henry Schein in a research report on Friday, September 15th. Finally, Morgan Stanley started coverage on shares of Henry Schein in a research report on Thursday, September 21st. They set an “equal weight” rating and a $88.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $92.14.
Shares of Henry Schein (NASDAQ:HSIC) opened at 81.91 on Tuesday. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 23.94 and a beta of 1.09. The stock has a 50 day moving average of $82.72 and a 200 day moving average of $87.37. Henry Schein has a 52-week low of $73.11 and a 52-week high of $93.50.
Henry Schein (NASDAQ:HSIC) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.02. Henry Schein had a net margin of 4.59% and a return on equity of 19.91%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the prior year, the business earned $0.82 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts expect that Henry Schein will post $3.64 EPS for the current year.
Henry Schein declared that its Board of Directors has authorized a stock buyback program on Monday, September 18th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
In other news, SVP Paul Rose sold 2,126 shares of Henry Schein stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $172.51, for a total transaction of $366,756.26. Following the completion of the transaction, the senior vice president now directly owns 17,841 shares in the company, valued at $3,077,750.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.19% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Henry Schein by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 8,086,317 shares of the company’s stock worth $1,479,959,000 after purchasing an additional 236,862 shares during the period. FMR LLC lifted its stake in shares of Henry Schein by 0.4% in the 2nd quarter. FMR LLC now owns 6,921,367 shares of the company’s stock worth $1,266,749,000 after purchasing an additional 24,935 shares during the period. BlackRock Inc. lifted its stake in shares of Henry Schein by 1.8% in the 2nd quarter. BlackRock Inc. now owns 5,696,685 shares of the company’s stock worth $1,042,607,000 after purchasing an additional 101,406 shares during the period. State Street Corp lifted its stake in shares of Henry Schein by 1.3% in the 1st quarter. State Street Corp now owns 3,675,674 shares of the company’s stock worth $624,760,000 after purchasing an additional 48,469 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Henry Schein by 4.7% in the 1st quarter. Mackenzie Financial Corp now owns 1,728,230 shares of the company’s stock worth $293,747,000 after purchasing an additional 76,794 shares during the period. Hedge funds and other institutional investors own 44.74% of the company’s stock.
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Henry Schein Company Profile
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.
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