Allianz Asset Management GmbH increased its holdings in Henry Schein, Inc. (NASDAQ:HSIC) by 147.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 613,004 shares of the company’s stock after acquiring an additional 364,842 shares during the period. Allianz Asset Management GmbH owned approximately 0.39% of Henry Schein worth $50,260,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of HSIC. Alecta Pensionsforsakring Omsesidigt grew its position in Henry Schein by 112.0% in the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,313,980 shares of the company’s stock worth $435,693,000 after acquiring an additional 2,806,990 shares during the period. Mackenzie Financial Corp lifted its stake in Henry Schein by 106.0% during the third quarter. Mackenzie Financial Corp now owns 3,938,233 shares of the company’s stock worth $322,896,000 after purchasing an additional 2,026,867 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Henry Schein by 394.1% during the second quarter. Janus Henderson Group PLC now owns 1,465,303 shares of the company’s stock worth $268,173,000 after purchasing an additional 1,168,763 shares in the last quarter. Swedbank lifted its stake in Henry Schein by 84.9% during the third quarter. Swedbank now owns 2,358,594 shares of the company’s stock worth $193,381,000 after purchasing an additional 1,083,115 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Henry Schein by 102.9% during the third quarter. Bank of New York Mellon Corp now owns 1,529,279 shares of the company’s stock worth $125,387,000 after purchasing an additional 775,483 shares in the last quarter. Institutional investors own 91.75% of the company’s stock.
A number of research analysts have commented on the company. Morgan Stanley cut Henry Schein from an “equal weight” rating to an “underweight” rating and set a $88.00 price target on the stock. in a research note on Wednesday. Credit Suisse Group restated a “neutral” rating and set a $80.00 price target (down from $87.50) on shares of Henry Schein in a research note on Tuesday, November 28th. Stephens assumed coverage on Henry Schein in a research note on Tuesday, November 28th. They set an “equal weight” rating and a $76.00 price target on the stock. Zacks Investment Research cut Henry Schein from a “hold” rating to a “sell” rating in a research note on Monday, November 13th. Finally, TheStreet cut Henry Schein from a “b” rating to a “c+” rating in a research note on Monday, November 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $88.36.
Henry Schein (NASDAQ:HSIC) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.05 billion. Henry Schein had a net margin of 4.52% and a return on equity of 19.71%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. analysts anticipate that Henry Schein, Inc. will post 3.6 EPS for the current year.
Henry Schein announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 18th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, Director Barry J. Alperin sold 5,796 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $70.76, for a total value of $410,124.96. Following the sale, the director now directly owns 48,172 shares in the company, valued at $3,408,650.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.19% of the stock is currently owned by company insiders.
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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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