Henry Schein (NASDAQ:HSIC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Over the past three months, Henry Schein has underperformed the broader industry. The company witnessing year-over-year deterioration in gross and operating margin due to higher cost of sales and expenses continues to be a concern. This apart, competitive pricing remains another cause of concern. We are disappointed with the company’s lowering of the high end of the 2017 EPS guidance indicating a gloomy scenario ahead. On a positive note, balanced growth across all operating segments as well as the Henry Schein’s gains in the United States as well as overseas raise optimism. We are also positive about the company completing the buyout of Merritt Veterinary Supplies.”
A number of other equities research analysts have also recently weighed in on HSIC. Piper Jaffray Companies upgraded Henry Schein from a “neutral” rating to an “overweight” rating in a research note on Friday, September 15th. UBS Group reiterated a “buy” rating on shares of Henry Schein in a research note on Friday, September 15th. Royal Bank of Canada initiated coverage on Henry Schein in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $91.00 price target for the company. Morgan Stanley initiated coverage on Henry Schein in a research note on Thursday, September 21st. They issued an “equal weight” rating and a $88.00 price target for the company. Finally, Jefferies Group reiterated a “hold” rating and issued a $88.50 price target on shares of Henry Schein in a research note on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.21.
Henry Schein (NASDAQ:HSIC) last posted its quarterly 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). Henry Schein had a return on equity of 19.71% and a net margin of 4.52%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company posted $0.84 EPS. Henry Schein’s quarterly revenue was up 10.3% compared to the same quarter last year. equities analysts forecast that Henry Schein will post 3.6 EPS for the current fiscal year.
Henry Schein announced that its board has approved 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 purchase up to 6.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Henry Schein news, Director Barry J. Alperin sold 5,796 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $70.76, for a total value of $410,124.96. Following the sale, the director now directly owns 48,172 shares of the company’s stock, valued at $3,408,650.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.19% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of HSIC. YorkBridge Wealth Partners LLC boosted its stake in shares of Henry Schein by 5.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 570 shares of the company’s stock worth $104,000 after acquiring an additional 28 shares during the last quarter. Sun Life Financial INC boosted its stake in shares of Henry Schein by 8,185.7% in the second quarter. Sun Life Financial INC now owns 580 shares of the company’s stock worth $106,000 after acquiring an additional 573 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Henry Schein by 150.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock worth $183,000 after acquiring an additional 600 shares during the last quarter. Cypress Capital Management LLC acquired a new stake in shares of Henry Schein in the second quarter worth approximately $217,000. Finally, FTB Advisors Inc. boosted its stake in shares of Henry Schein by 100.0% in the third quarter. FTB Advisors Inc. now owns 1,484 shares of the company’s stock worth $120,000 after acquiring an additional 742 shares during the last quarter. 91.69% of the stock is currently owned by 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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