TIAA CREF Investment Management LLC Sells 58,339 Shares of Henry Schein, Inc. (HSIC)
TIAA CREF Investment Management LLC lowered its stake in Henry Schein, Inc. (NASDAQ:HSIC) by 20.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 227,033 shares of the company’s stock after selling 58,339 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.29% of Henry Schein worth $41,552,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Henry Schein by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 7,849,455 shares of the company’s stock valued at $1,334,173,000 after buying an additional 127,660 shares in the last quarter. BlackRock Inc. lifted its stake in Henry Schein by 2,999.6% in the 1st 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 in the last quarter. State Street Corp lifted its stake in Henry Schein by 1.3% in the 1st quarter. State Street Corp now owns 3,675,674 shares of the company’s stock valued at $624,760,000 after buying an additional 48,469 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Henry Schein by 4.7% in the 1st quarter. Mackenzie Financial Corp now owns 1,728,230 shares of the company’s stock valued at $293,747,000 after buying an additional 76,794 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Henry Schein by 12.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,515,861 shares of the company’s stock valued at $257,650,000 after buying an additional 167,213 shares in the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.
Henry Schein, Inc. (HSIC) opened at 80.39 on Thursday. Henry Schein, Inc. has a 1-year low of $73.11 and a 1-year high of $93.50. The company has a 50-day moving average price of $85.78 and a 200-day moving average price of $88.02. The firm has a market capitalization of $6.36 billion, a P/E ratio of 11.75 and a beta of 1.10.
Henry Schein (NASDAQ:HSIC) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.02. Henry Schein had a net margin of 4.59% and a return on equity of 19.91%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that Henry Schein, Inc. will post $3.64 earnings per share for the current fiscal year.
Henry Schein declared that its board has initiated a stock repurchase program on Monday, September 18th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
A number of brokerages have weighed in on HSIC. Northcoast Research raised Henry Schein from a “neutral” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Monday, August 7th. Zacks Investment Research raised Henry Schein from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Friday, June 16th. UBS AG reissued a “buy” rating on shares of Henry Schein in a research note on Friday, September 15th. Jefferies Group LLC reissued a “hold” rating and set a $88.50 price target on shares of Henry Schein in a research note on Friday, July 21st. Finally, Credit Suisse Group reissued a “hold” rating and set a $80.00 price target on shares of Henry Schein in a research note on Thursday, July 13th. One 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. Henry Schein currently has an average rating of “Hold” and an average target price of $93.16.
In other news, SVP Paul Rose sold 2,126 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $172.51, for a total transaction of $366,756.26. Following the transaction, the senior vice president now owns 17,841 shares in the company, valued at approximately $3,077,750.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.27% of the company’s stock.
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Henry Schein 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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