Zacks Investment Research lowered shares of Henry Schein (NASDAQ:HSIC) from a buy rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Henry Schein exited fourth-quarter 2017 on a mixed note with earnings meeting the Zacks Consensus Estimate and revenues marginally beating the same. Apart from balanced growth across all operating segments, Henry Schein's gains in the United States as well as overseas raise optimism. We are also positive about the company’s purchase of a 60% stake in Sao Paulo, Brazil-based veterinary product distributor — ABASE. Moreover, a raised EPS guidance for 2018 buoys optimism. On the flip side, the year-over-year deterioration in gross and operating margin due to higher cost of sales and expenses continues to be a concern. Also, a tough competitive landscape and pricing pressure weigh on the stock. Over the past three months, the company has underperformed the broader industry.”
Several other research analysts have also commented on the stock. Morgan Stanley lowered shares of Henry Schein from an equal weight rating to an underweight rating and set a $88.00 price objective for the company. in a research note on Wednesday, December 6th. Piper Jaffray Companies reissued a buy rating and issued a $78.00 price objective on shares of Henry Schein in a research note on Wednesday, December 27th. Craig Hallum raised shares of Henry Schein from a hold rating to a buy rating in a research note on Tuesday, November 7th. Credit Suisse Group reissued a neutral rating and issued a $80.00 price objective (down previously from $87.50) on shares of Henry Schein in a research note on Tuesday, November 28th. Finally, Jefferies Group lowered their price objective on shares of Henry Schein from $89.00 to $74.00 and set a hold rating for the company in a research note on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $82.31.
Henry Schein (NASDAQ:HSIC) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.97 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.97. Henry Schein had a net margin of 3.26% and a return on equity of 19.70%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same quarter last year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. sell-side analysts expect that Henry Schein will post 4.08 EPS for the current year.
Large investors have recently modified their holdings of the stock. Nationwide Fund Advisors raised its holdings in Henry Schein by 130.1% during the third quarter. Nationwide Fund Advisors now owns 260,731 shares of the company’s stock worth $21,377,000 after purchasing an additional 147,419 shares in the last quarter. Pictet Asset Management Ltd. raised its holdings in Henry Schein by 209.9% during the third quarter. Pictet Asset Management Ltd. now owns 137,600 shares of the company’s stock worth $11,282,000 after purchasing an additional 93,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Henry Schein by 96.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,842 shares of the company’s stock worth $397,000 after purchasing an additional 2,373 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its holdings in Henry Schein by 81.2% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,743 shares of the company’s stock worth $962,000 after purchasing an additional 5,262 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in Henry Schein during the third quarter worth approximately $1,150,000. 97.62% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: This piece of content was published by Ticker Report and is the sole property of of Ticker Report. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://www.tickerreport.com/banking-finance/3253543/henry-schein-hsic-cut-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Henry Schein Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Henry Schein and related companies with MarketBeat.com's FREE daily email newsletter.