M&R Capital Management Inc. increased its holdings in shares of Henry Schein, Inc. (NASDAQ:HSIC) by 96.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,074 shares of the company’s stock after purchasing an additional 17,202 shares during the period. M&R Capital Management Inc.’s holdings in Henry Schein were worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Intrust Bank NA boosted its position in Henry Schein by 1.1% during the 2nd quarter. Intrust Bank NA now owns 1,219 shares of the company’s stock worth $223,000 after purchasing an additional 13 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in Henry Schein by 4.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 14,859 shares of the company’s stock worth $2,719,000 after purchasing an additional 566 shares during the period. Bradley Foster & Sargent Inc. CT lifted its holdings in Henry Schein by 2.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 33,106 shares of the company’s stock worth $6,059,000 after buying an additional 690 shares in the last quarter. Steinberg Global Asset Management lifted its holdings in Henry Schein by 100.0% in the 3rd quarter. Steinberg Global Asset Management now owns 19,412 shares of the company’s stock worth $1,592,000 after buying an additional 9,706 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Henry Schein by 10.6% in the 2nd quarter. Comerica Bank now owns 21,833 shares of the company’s stock worth $4,054,000 after buying an additional 2,101 shares in the last quarter. 91.75% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the stock. Zacks Investment Research lowered shares of Henry Schein from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Stephens assumed coverage on shares of Henry Schein in a report on Tuesday, November 28th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Jefferies Group reiterated a “hold” rating and issued a $88.50 price objective on shares of Henry Schein in a report on Thursday, September 28th. Leerink Swann reiterated a “market perform” rating and issued a $77.00 price objective (down previously from $87.50) on shares of Henry Schein in a report on Tuesday, November 7th. Finally, Morgan Stanley lowered shares of Henry Schein from an “equal weight” rating to an “underweight” rating and set a $88.00 price objective on the stock. in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Henry Schein currently has an average rating of “Hold” and an average price target of $88.36.
Henry Schein (NASDAQ:HSIC) last issued its earnings results on Monday, November 6th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.05 billion. Henry Schein had a net margin of 4.52% and a return on equity of 19.71%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. sell-side analysts forecast that Henry Schein, Inc. will post 3.6 earnings per share for the current year.
Henry Schein announced that its Board of Directors has initiated a share repurchase plan on Monday, September 18th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, Director Barry J. Alperin sold 5,796 shares of the company’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 sale, the director now owns 48,172 shares in the company, valued at approximately $3,408,650.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.19% of the company’s stock.
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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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