Zacks Investment Research Lowers Henry Schein Inc. (HSIC) to Sell
Henry Schein Inc. (NASDAQ:HSIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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.”
A number of other analysts also recently weighed in on the company. Robert W. Baird downgraded Henry Schein from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $176.00 to $164.00 in a research report on Friday. Goldman Sachs Group Inc. upgraded Henry Schein from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Tuesday, October 11th. Finally, Bank of America Corp. assumed coverage on Henry Schein in a research report on Monday, September 12th. They issued a “buy” rating and a $185.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $159.50.
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Henry Schein (NASDAQ:HSIC) traded up 0.07% during trading on Monday, hitting $153.46. The company’s stock had a trading volume of 324,691 shares. The firm has a 50 day moving average of $162.17 and a 200 day moving average of $170.06. The firm has a market cap of $12.55 billion, a P/E ratio of 26.00 and a beta of 1.05. Henry Schein has a 12 month low of $142.64 and a 12 month high of $183.00.
Henry Schein (NASDAQ:HSIC) last released its earnings results on Thursday, August 4th. The company reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.01. The company earned $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Henry Schein had a return on equity of 17.84% and a net margin of 4.42%. Henry Schein’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. Equities research analysts predict that Henry Schein will post $6.57 earnings per share for the current year.
In other Henry Schein news, Director Paul Brons sold 3,381 shares of the business’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 sale, the director now directly owns 13,715 shares of the company’s stock, valued at $2,249,671.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.27% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. National Pension Service increased its position in shares of Henry Schein by 9.4% in the third quarter. National Pension Service now owns 64,467 shares of the company’s stock worth $10,507,000 after buying an additional 5,547 shares during the last quarter. MSI Financial Services Inc increased its position in shares of Henry Schein by 3.9% in the third quarter. MSI Financial Services Inc now owns 3,437 shares of the company’s stock worth $560,000 after buying an additional 130 shares during the last quarter. Genesee Valley Trust Co. acquired a new position in shares of Henry Schein during the third quarter worth about $261,000. Atria Investments LLC acquired a new position in shares of Henry Schein during the third quarter worth about $229,000. Finally, Legacy Private Trust Co. increased its position in shares of Henry Schein by 4.2% in the third quarter. Legacy Private Trust Co. now owns 6,640 shares of the company’s stock worth $1,082,000 after buying an additional 270 shares during the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.
Henry Schein Company Profile
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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