Henry Schein Inc. (NASDAQ:HSIC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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.”
Several other research firms have also recently commented on HSIC. Bank of America Corp. started coverage on Henry Schein in a research report on Monday, September 12th. They set a “buy” rating and a $185.00 target price for the company. Robert W. Baird restated an “outperform” rating and set a $176.00 target price (up from $175.00) on shares of Henry Schein in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Henry Schein presently has an average rating of “Hold” and a consensus price target of $157.92.
Henry Schein (NASDAQ:HSIC) opened at 163.12 on Wednesday. The stock’s 50 day moving average price is $162.60 and its 200-day moving average price is $170.50. The company has a market capitalization of $13.34 billion, a P/E ratio of 27.63 and a beta of 1.05. Henry Schein has a 12 month low of $140.11 and a 12 month high of $183.00.
Henry Schein (NASDAQ:HSIC) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.01. Henry Schein had a return on equity of 17.84% and a net margin of 4.42%. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company posted $1.46 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Henry Schein will post $6.57 EPS for the current fiscal year.
In related news, Director Paul Brons sold 3,381 shares of the stock in a transaction dated Monday, August 29th. The stock was 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 directly 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 hyperlink. Corporate insiders own 1.27% of the company’s stock.
A number of large investors have recently modified their holdings of HSIC. Vanguard Group Inc. boosted its stake in shares of 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 boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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. boosted its stake in shares of 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 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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