Morgan Stanley Lowers Henry Schein (HSIC) to Underweight
Henry Schein (NASDAQ:HSIC) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $88.00 target price on the stock. Morgan Stanley’s price objective suggests a potential upside of 23.77% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. Piper Jaffray Companies upgraded shares of Henry Schein from a “neutral” rating to an “overweight” rating in a report on Friday, September 15th. Stephens began coverage on shares of Henry Schein in a report on Tuesday, November 28th. They issued an “equal weight” rating and a $76.00 price target for the company. Royal Bank Of Canada began coverage on shares of Henry Schein in a research report on Tuesday, September 19th. They issued a “sector perform” rating and a $91.00 price objective on the stock. TheStreet lowered shares of Henry Schein from a “b” rating to a “c+” rating in a research report on Monday, November 6th. Finally, Zacks Investment Research lowered shares of Henry Schein from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $88.36.
Shares of Henry Schein (NASDAQ HSIC) traded down $0.11 during midday trading on Wednesday, hitting $71.10. 2,754,800 shares of the company’s stock were exchanged, compared to its average volume of 1,219,954. Henry Schein has a one year low of $65.28 and a one year high of $93.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 1.55. The company has a market capitalization of $11,176.72, a P/E ratio of 19.98, a PEG ratio of 2.00 and a beta of 0.99.
Henry Schein declared that its board has initiated a stock repurchase program on Monday, September 18th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to reacquire up to 6.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other Henry Schein news, Director Barry J. Alperin sold 5,796 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $70.76, for a total transaction of $410,124.96. Following the completion of the transaction, the director now owns 48,172 shares in the company, valued at approximately $3,408,650.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.19% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HSIC. YorkBridge Wealth Partners LLC lifted its stake in Henry Schein by 5.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 570 shares of the company’s stock valued at $104,000 after acquiring an additional 28 shares in the last quarter. Sun Life Financial INC raised its stake in shares of Henry Schein by 8,185.7% during the 2nd quarter. Sun Life Financial INC now owns 580 shares of the company’s stock worth $106,000 after purchasing an additional 573 shares during the period. Acrospire Investment Management LLC raised its stake in shares of Henry Schein by 150.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock worth $183,000 after purchasing an additional 600 shares during the period. HM Payson & Co. bought a new stake in shares of Henry Schein during the 2nd quarter worth $204,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Henry Schein during the 2nd quarter worth $205,000. 91.75% of the stock is owned by institutional investors and hedge funds.
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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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