Henry Schein, Inc. (NASDAQ:HSIC) Announces Quarterly Earnings Results
Henry Schein, Inc. (NASDAQ:HSIC) posted its earnings results on Tuesday. The company reported $1.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.02, RTT News reports. Henry Schein had a return on equity of 19.74% and a net margin of 4.53%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the company earned $1.64 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. Henry Schein updated its FY17 guidance to $7.17-7.30 EPS.
Henry Schein (NASDAQ HSIC) traded down 2.4006% during midday trading on Wednesday, reaching $169.8424. The company had a trading volume of 569,804 shares. Henry Schein has a one year low of $146.23 and a one year high of $186.99. The firm has a market capitalization of $13.47 billion, a P/E ratio of 25.8119 and a beta of 1.09. The stock’s 50 day moving average price is $183.03 and its 200-day moving average price is $174.57.
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In other Henry Schein news, EVP Gerald A. Benjamin sold 12,578 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $175.10, for a total value of $2,202,407.80. Following the transaction, the executive vice president now directly owns 44,061 shares of the company’s stock, valued at approximately $7,715,081.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.27% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bluestein R H & Co. raised its position in Henry Schein by 22.5% in the first quarter. Bluestein R H & Co. now owns 123,224 shares of the company’s stock valued at $20,944,000 after buying an additional 22,608 shares during the last quarter. BlackRock Inc. raised its position in Henry Schein by 2,999.6% in the first quarter. BlackRock Inc. now owns 5,595,279 shares of the company’s stock valued at $951,028,000 after buying an additional 5,414,761 shares during the last quarter. Swedbank raised its position in Henry Schein by 1.6% in the first quarter. Swedbank now owns 1,257,291 shares of the company’s stock valued at $213,702,000 after buying an additional 19,885 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Henry Schein by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 310,134 shares of the company’s stock valued at $52,714,000 after buying an additional 1,831 shares during the last quarter. Finally, Atria Investments LLC raised its position in Henry Schein by 3.1% in the first quarter. Atria Investments LLC now owns 2,114 shares of the company’s stock valued at $359,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 90.87% of the company’s stock.
Several research firms have weighed in on HSIC. 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. Zacks Investment Research upgraded Henry Schein from a “hold” rating to a “buy” rating and set a $204.00 price objective on the stock in a research note on Thursday, May 25th. Credit Suisse Group reiterated a “hold” rating and issued a $160.00 price objective on shares of Henry Schein in a research note on Thursday, July 13th. Craig Hallum began coverage on Henry Schein in a research note on Tuesday, April 11th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus lifted their price objective on Henry Schein from $174.00 to $178.00 and gave the stock a “hold” rating in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $185.56.
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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