Henry Schein, Inc. (HSIC) Cut to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Henry Schein, Inc. (NASDAQ:HSIC) from a buy rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “In the past three months, 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 are also positive about Henry Schein’s buyout of Marrodent and SAS which have the potential to capture the bountiful dental market opportunities. On the flip side despite a strong quarterly show last time, the company’s unchanged EPS guidance for 2017 is uninspiring. Meanwhile, Henry Schein’s venture in digital dentistry through Dentsply Sirona deal may intensify its already weak operating margin scenario on escalating education and training expenses. Also, foreign currency fluctuations continued to mar the company’s financials.”
HSIC has been the topic of several other reports. Barrington Research raised their target price on Henry Schein from $196.00 to $198.00 and gave the company an outperform rating in a report on Wednesday, May 10th. Jefferies Group LLC restated a hold rating and set a $165.00 target price on shares of Henry Schein in a report on Tuesday, February 28th. Craig Hallum began coverage on Henry Schein in a report on Tuesday, April 11th. They set a hold rating on the stock. Stifel Nicolaus raised their target price on Henry Schein from $174.00 to $178.00 and gave the company a hold rating in a report on Wednesday, May 10th. Finally, Piper Jaffray Companies began coverage on Henry Schein in a report on Monday, June 12th. They set a neutral rating and a $200.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $184.08.
Shares of Henry Schein (NASDAQ HSIC) opened at 185.06 on Thursday. The stock has a 50 day moving average price of $180.64 and a 200 day moving average price of $168.05. The stock has a market cap of $14.68 billion, a P/E ratio of 28.12 and a beta of 1.10. Henry Schein has a 12 month low of $146.23 and a 12 month high of $186.99.
Henry Schein (NASDAQ:HSIC) last posted its earnings results on Tuesday, May 9th. The company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.11. Henry Schein had a return on equity of 19.74% and a net margin of 4.53%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the company earned $1.41 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Henry Schein will post $7.28 EPS for the current fiscal year.
In other news, SVP Lorelei Mcglynn sold 9,300 shares of Henry Schein stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $171.76, for a total value of $1,597,368.00. Following the transaction, the senior vice president now directly owns 33,048 shares in the company, valued at $5,676,324.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gerald A. Benjamin sold 12,578 shares of Henry Schein stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $175.10, for a total value of $2,202,407.80. Following the completion of the transaction, the executive vice president now owns 44,061 shares in the company, valued at $7,715,081.10. The disclosure for this sale can be found here. Insiders own 1.27% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Henry Schein by 2,999.6% in the first quarter. BlackRock Inc. now owns 5,595,279 shares of the company’s stock worth $951,028,000 after buying an additional 5,414,761 shares during the period. Norges Bank purchased a new stake in Henry Schein during the fourth quarter worth $139,100,000. Renaissance Technologies LLC purchased a new stake in Henry Schein during the fourth quarter worth $71,911,000. Congress Asset Management Co. MA purchased a new stake in Henry Schein during the fourth quarter worth $53,903,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Henry Schein during the first quarter worth $50,281,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.
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.
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