Henry Schein (HSIC) Downgraded by Morgan Stanley
Morgan Stanley cut shares of Henry Schein (NASDAQ:HSIC) from an equal weight rating to an underweight rating in a research note issued to investors on Wednesday, Marketbeat reports. Morgan Stanley currently has $88.00 price target on the stock.
Several other research firms have also commented on HSIC. Zacks Investment Research lowered shares of Henry Schein from a buy rating to a hold rating in a report on Wednesday, August 9th. UBS reissued a buy rating on shares of Henry Schein in a research report on Friday, September 15th. Piper Jaffray Companies raised shares of Henry Schein from a neutral rating to an overweight rating in a research report on Friday, September 15th. Jefferies Group reissued a hold rating and set a $89.00 price target on shares of Henry Schein in a research report on Friday, October 20th. Finally, Credit Suisse Group reissued a hold rating and set a $87.50 price target on shares of Henry Schein in a research report on Tuesday, August 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $87.79.
Henry Schein (NASDAQ:HSIC) traded up $0.33 during mid-day trading on Wednesday, hitting $67.90. 2,060,000 shares of the company traded hands, compared to its average volume of 3,010,000. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 1.55. Henry Schein has a 52 week low of $65.28 and a 52 week high of $93.50. The company has a market cap of $10,660.00, a price-to-earnings ratio of 18.96, a P/E/G ratio of 1.90 and a beta of 0.99.
Henry Schein (NASDAQ:HSIC) last released its earnings results on Monday, November 6th. The company reported $0.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.03). Henry Schein had a net margin of 4.52% and a return on equity of 19.71%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the business posted $0.84 EPS. Henry Schein’s revenue for the quarter was up 10.3% on a year-over-year basis. equities analysts predict that Henry Schein will post 3.6 earnings per share for the current fiscal year.
Henry Schein announced that its Board of Directors has authorized a stock buyback plan on Monday, September 18th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to buy up to 6.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Barry J. Alperin sold 5,796 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $70.76, for a total value of $410,124.96. Following the completion of the sale, the director now directly owns 48,172 shares of the company’s stock, valued at approximately $3,408,650.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.19% of the company’s stock.
Several large investors have recently bought and sold shares of HSIC. Alecta Pensionsforsakring Omsesidigt lifted its position in shares of Henry Schein by 112.0% in the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,313,980 shares of the company’s stock worth $435,693,000 after purchasing an additional 2,806,990 shares during the period. Mackenzie Financial Corp lifted its position in shares of Henry Schein by 106.0% in the 3rd 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 during the period. Janus Henderson Group PLC lifted its position in shares of Henry Schein by 92.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,814,636 shares of the company’s stock worth $230,777,000 after purchasing an additional 1,349,333 shares during the period. Atlanta Capital Management Co. L L C lifted its position in shares of Henry Schein by 99.4% in the 3rd quarter. Atlanta Capital Management Co. L L C now owns 2,493,054 shares of the company’s stock worth $204,405,000 after purchasing an additional 1,242,849 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in shares of Henry Schein by 95.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,475,058 shares of the company’s stock worth $202,930,000 after purchasing an additional 1,211,743 shares during the period. 91.75% of the stock is owned by hedge funds and other institutional investors.
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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