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 research note issued on Monday.
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 research firms have also recently commented on HSIC. Goldman Sachs Group Inc. raised Henry Schein from a “neutral” rating to a “buy” rating and set a $185.00 price target for the company in a report on Tuesday, October 11th. Robert W. Baird reissued an “outperform” rating and issued a $176.00 price target (up from $175.00) on shares of Henry Schein in a report on Tuesday, October 4th. Finally, Bank of America Corp. started coverage on Henry Schein in a research note on Monday, September 12th. They issued a “buy” rating and a $185.00 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $159.50.
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Henry Schein (NASDAQ:HSIC) traded up 0.01% during midday trading on Monday, hitting $153.37. The company had a trading volume of 326,521 shares. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 25.98 and a beta of 1.05. The firm has a 50-day moving average price of $162.17 and a 200-day moving average price of $170.06. Henry Schein has a 12 month low of $142.64 and a 12 month high of $183.00.
Henry Schein (NASDAQ:HSIC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.63 by $0.01. The business earned $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Henry Schein had a return on equity of 17.84% and a net margin of 4.42%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. Equities analysts anticipate that Henry Schein will post $6.57 EPS for the current year.
In other news, Director Paul Brons sold 3,381 shares of Henry Schein 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 sale, the director now owns 13,715 shares of the company’s stock, valued at $2,249,671.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.27% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Advisor Group Inc. acquired a new stake in shares of Henry Schein during the second quarter worth approximately $106,000. Global X Management Co. LLC increased its stake in shares of Henry Schein by 18.7% in the second quarter. Global X Management Co. LLC now owns 661 shares of the company’s stock worth $117,000 after buying an additional 104 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Henry Schein by 0.4% in the second quarter. Quadrant Capital Group LLC now owns 742 shares of the company’s stock worth $128,000 after buying an additional 3 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Henry Schein by 29.1% in the second quarter. Van ECK Associates Corp now owns 727 shares of the company’s stock worth $129,000 after buying an additional 164 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. increased its stake in shares of Henry Schein by 108.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,018 shares of the company’s stock worth $180,000 after buying an additional 530 shares in the last quarter. 92.03% 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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