Henry Schein (NASDAQ:HSIC) Stock Price Up 5.7% Following Earnings Beat

Shares of Henry Schein, Inc. (NASDAQ:HSIC) were up 5.7% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $72.80 and last traded at $72.46. Approximately 223,098 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 1,076,850 shares. The stock had previously closed at $68.53.

The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.09. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.21 billion. Henry Schein had a return on equity of 14.03% and a net margin of 3.37%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 earnings per share.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Evercore ISI raised their price target on Henry Schein from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their target price on Henry Schein from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Barrington Research increased their price objective on Henry Schein from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Piper Sandler increased their price objective on shares of Henry Schein from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Henry Schein in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $81.09.

Insiders Place Their Bets

In other Henry Schein news, Vice Chairman James P. Breslawski sold 2,907 shares of Henry Schein stock in a transaction on Monday, March 18th. The stock was sold at an average price of $74.37, for a total value of $216,193.59. Following the completion of the transaction, the insider now owns 209,562 shares in the company, valued at approximately $15,585,125.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Vice Chairman James P. Breslawski sold 2,907 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $74.37, for a total transaction of $216,193.59. Following the sale, the insider now owns 209,562 shares in the company, valued at $15,585,125.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bradford C. Connett sold 6,430 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $74.28, for a total value of $477,620.40. Following the completion of the transaction, the chief executive officer now directly owns 73,108 shares in the company, valued at approximately $5,430,462.24. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Baystate Wealth Management LLC raised its stake in shares of Henry Schein by 2,500.0% during the third quarter. Baystate Wealth Management LLC now owns 520 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Henry Schein during the 4th quarter worth $39,000. Neo Ivy Capital Management purchased a new position in shares of Henry Schein during the 3rd quarter valued at $46,000. Mather Group LLC. bought a new stake in Henry Schein in the 1st quarter valued at $97,000. Finally, Covestor Ltd increased its holdings in Henry Schein by 22.8% in the 3rd quarter. Covestor Ltd now owns 1,367 shares of the company’s stock valued at $102,000 after acquiring an additional 254 shares during the last quarter. 96.62% of the stock is currently owned by hedge funds and other institutional investors.

Henry Schein Stock Performance

The stock has a market capitalization of $9.00 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.68 and a beta of 0.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.67. The business’s fifty day moving average price is $73.22 and its two-hundred day moving average price is $72.32.

Henry Schein Company Profile

Henry Schein, Inc provides health care products and services to dental practitioners, laboratories, physician practices, and ambulatory surgery centers, government, institutional health care clinics, and other alternate care clinics worldwide. It operates through two segments, Health Care Distribution, and Technology and Value-Added Services.