Henry Schein Inc. (HSIC) Stock Rating Lowered 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 research note issued to investors 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.”
Several other brokerages also recently issued reports on HSIC. Credit Suisse Group AG restated a “hold” rating on shares of Henry Schein in a research report on Saturday, June 4th. Bank of America Corp. began coverage on Henry Schein in a research report on Monday, September 12th. They issued a “buy” rating and a $185.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $157.84.
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Shares of Henry Schein (NASDAQ:HSIC) traded up 0.28% during trading on Tuesday, hitting $162.93. The stock had a trading volume of 151,946 shares. Henry Schein has a 12-month low of $127.16 and a 12-month high of $183.00. The stock has a 50-day moving average of $164.57 and a 200 day moving average of $170.97. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 27.60 and a beta of 1.03.
Henry Schein (NASDAQ:HSIC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the business earned $1.46 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. On average, analysts predict that Henry Schein will post $6.57 earnings per share for the current fiscal year.
In related news, Director Paul Brons sold 3,381 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 13,715 shares in the company, valued at $2,249,671.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.27% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Zurich Insurance Group Ltd FI purchased a new stake in shares of Henry Schein during the first quarter valued at approximately $3,204,000. Norges Bank purchased a new stake in shares of Henry Schein during the fourth quarter valued at approximately $115,454,000. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Henry Schein by 60.0% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,586 shares of the company’s stock valued at $446,000 after buying an additional 970 shares in the last quarter. Eqis Capital Management Inc. raised its stake in shares of Henry Schein by 23.4% in the second quarter. Eqis Capital Management Inc. now owns 1,639 shares of the company’s stock valued at $290,000 after buying an additional 311 shares in the last quarter. Finally, Davy Asset Management Ltd purchased a new stake in shares of Henry Schein during the second quarter valued at approximately $2,412,000. Institutional investors own 92.00% of the company’s stock.
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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