Henry Schein Inc. (HSIC) Downgraded by Zacks Investment Research
Henry Schein Inc. (NASDAQ:HSIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “We are disappointed with Henry Schein lowering the upper end of the previously provided EPS guidance range for 2016. Meanwhile, foreign currency fluctuations and competitive headwinds continue to impede the company’s business. However, on a positive note, Henry Schein’s impending acquisition of Marrodent should help it tap into the abundant dental market opportunities in Poland. We are also encouraged by the company’s recent strong share gains in both North American and overseas markets. Its recent investment in Custom Automated Prosthetics – a U.S. digital laboratory supply company offering CAD/CAM equipment and zirconia materials, buoys optimism. However, the company’s weakness in North American Dental sales was less than expectation. The year-over-year deterioration in Henry Schein’s gross margin figure on account of higher cost of sales also depresses us.”
Other research analysts have also recently issued reports about the company. Bank of America Corp. started coverage on Henry Schein in a research note on Monday, September 12th. They set a “buy” rating and a $185.00 target price for the company. Credit Suisse Group AG reissued a “hold” rating on shares of Henry Schein in a research note on Saturday, June 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $157.84.
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Shares of Henry Schein (NASDAQ:HSIC) traded up 0.26% on Tuesday, hitting $162.90. The stock had a trading volume of 146,430 shares. Henry Schein has a 52-week low of $127.16 and a 52-week high of $183.00. The firm’s 50-day moving average price is $164.57 and its 200 day moving average price is $170.97. The firm has a market cap of $13.32 billion, a PE ratio of 27.60 and a beta of 1.03.
Henry Schein (NASDAQ:HSIC) last released its earnings results on Thursday, August 4th. The company reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.01. Henry Schein had a return on equity of 17.84% and a net margin of 4.42%. The firm earned $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the previous year, the firm posted $1.46 EPS. Henry Schein’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts predict that Henry Schein will post $6.57 EPS for the current year.
In other news, Director Paul Brons sold 3,381 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $164.03, for a total value of $554,585.43. Following the completion of the sale, the director now directly owns 13,715 shares of the company’s stock, valued at approximately $2,249,671.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.27% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of HSIC. Boulegeris Investments Inc. increased its stake in Henry Schein by 0.5% in the fourth quarter. Boulegeris Investments Inc. now owns 4,815 shares of the company’s stock valued at $762,000 after buying an additional 25 shares during the last quarter. Neville Rodie & Shaw Inc. increased its stake in Henry Schein by 0.7% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 36,595 shares of the company’s stock valued at $5,789,000 after buying an additional 250 shares during the last quarter. British Columbia Investment Management Corp increased its stake in Henry Schein by 42.9% in the fourth quarter. British Columbia Investment Management Corp now owns 49,032 shares of the company’s stock valued at $7,756,000 after buying an additional 14,719 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Henry Schein during the fourth quarter valued at $633,000. Finally, Russell Frank Co increased its stake in Henry Schein by 3.9% in the fourth quarter. Russell Frank Co now owns 117,029 shares of the company’s stock valued at $18,714,000 after buying an additional 4,364 shares during the last quarter. 92.00% of the stock is owned by institutional investors and hedge funds.
About Henry Schein
Henry Schein, Inc is a provider of health care products and services to office-based dental, animal health and medical practitioners. The Company’s segments include healthcare distribution, and technology and value-added services. The healthcare distribution segment aggregates its global dental, animal health and medical operating segments.
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