Jefferies Group Research Analysts Cut Earnings Estimates for Henry Schein, Inc. (HSIC)
Henry Schein, Inc. (NASDAQ:HSIC) – Research analysts at Jefferies Group reduced their FY2017 earnings estimates for Henry Schein in a research note issued to investors on Friday. Jefferies Group analyst B. Couillard now forecasts that the company will post earnings per share of $3.63 for the year, down from their prior forecast of $3.64. Jefferies Group has a “Hold” rating and a $89.00 price objective on the stock. Jefferies Group also issued estimates for Henry Schein’s Q4 2017 earnings at $0.98 EPS, Q3 2018 earnings at $0.98 EPS, Q4 2018 earnings at $1.03 EPS and FY2018 earnings at $3.95 EPS.
Henry Schein (NASDAQ:HSIC) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Henry Schein had a net margin of 4.59% and a return on equity of 19.91%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.
A number of other equities analysts have also weighed in on the company. Credit Suisse Group reissued a “hold” rating and issued a $87.50 target price on shares of Henry Schein in a research report on Tuesday, August 29th. Piper Jaffray Companies raised Henry Schein from a “neutral” rating to an “overweight” rating in a research report on Friday, September 15th. UBS AG reissued a “buy” rating on shares of Henry Schein in a research report on Friday, September 15th. Stifel Nicolaus reissued a “hold” rating on shares of Henry Schein in a research report on Thursday, July 6th. Finally, Morgan Stanley initiated coverage on Henry Schein in a research report on Thursday, September 21st. They issued an “equal weight” rating and a $88.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $92.89.
Shares of Henry Schein (NASDAQ HSIC) opened at 84.53 on Monday. The stock has a market cap of $13.37 billion, a P/E ratio of 24.70 and a beta of 1.08. Henry Schein has a 12-month low of $73.11 and a 12-month high of $93.50. The company’s 50-day moving average is $82.46 and its 200-day moving average is $87.26.
Henry Schein declared that its board has authorized a stock buyback program on Monday, September 18th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, SVP Paul Rose sold 2,126 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $172.51, for a total transaction of $366,756.26. Following the completion of the transaction, the senior vice president now directly owns 17,841 shares in the company, valued at approximately $3,077,750.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.19% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Eads & Heald Investment Counsel boosted its stake in Henry Schein by 0.5% in the 2nd quarter. Eads & Heald Investment Counsel now owns 1,497 shares of the company’s stock worth $274,000 after purchasing an additional 8 shares during the period. Intrust Bank NA boosted its stake in Henry Schein by 1.1% in the 2nd quarter. Intrust Bank NA now owns 1,219 shares of the company’s stock worth $223,000 after purchasing an additional 13 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Henry Schein by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,894 shares of the company’s stock worth $1,079,000 after purchasing an additional 19 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in Henry Schein by 5.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 570 shares of the company’s stock worth $104,000 after purchasing an additional 28 shares during the period. Finally, Sawtooth Solutions LLC boosted its stake in Henry Schein by 2.4% in the 2nd quarter. Sawtooth Solutions LLC now owns 1,347 shares of the company’s stock worth $247,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 44.74% of the company’s stock.
About Henry Schein
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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