Henry Schein (HSIC) Research Coverage Started at Deutsche Bank
Investment analysts at Deutsche Bank initiated coverage on shares of Henry Schein (NASDAQ:HSIC) in a report issued on Friday, MarketBeat.com reports. The firm set a “buy” rating and a $79.00 price target on the stock. Deutsche Bank’s price objective indicates a potential upside of 16.35% from the stock’s current price.
Several other equities analysts also recently commented on the company. Credit Suisse Group restated a “hold” rating and issued a $87.50 price objective on shares of Henry Schein in a research report on Tuesday, August 29th. Piper Jaffray Companies upgraded Henry Schein from a “neutral” rating to an “overweight” rating in a research report on Friday, September 15th. Craig Hallum upgraded Henry Schein from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Zacks Investment Research downgraded Henry Schein from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. Finally, Morgan Stanley started coverage on Henry Schein in a research report on Thursday, September 21st. They issued an “equal weight” rating and a $88.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $87.79.
Shares of Henry Schein (NASDAQ:HSIC) traded up $0.33 during trading on Friday, hitting $67.90. The stock had a trading volume of 2,056,055 shares, compared to its average volume of 1,238,134. Henry Schein has a fifty-two week low of $65.28 and a fifty-two week high of $93.50. The stock has a market capitalization of $10,606.98, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.90 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 1.55 and a debt-to-equity ratio of 0.30.
Henry Schein announced that its Board of Directors has initiated a share repurchase plan on Monday, September 18th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Henry Schein news, Director Barry J. Alperin sold 5,796 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $70.76, for a total transaction of $410,124.96. Following the sale, the director now directly owns 48,172 shares in the company, valued at $3,408,650.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.19% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Henry Schein by 3.0% during the second quarter. Vanguard Group Inc. now owns 8,086,317 shares of the company’s stock valued at $1,479,959,000 after purchasing an additional 236,862 shares during the period. FMR LLC raised its position in Henry Schein by 0.4% during the second quarter. FMR LLC now owns 6,921,367 shares of the company’s stock valued at $1,266,749,000 after purchasing an additional 24,935 shares during the period. BlackRock Inc. raised its position in Henry Schein by 1.8% during the second quarter. BlackRock Inc. now owns 5,696,685 shares of the company’s stock valued at $1,042,607,000 after purchasing an additional 101,406 shares during the period. Alecta Pensionsforsakring Omsesidigt raised its position in Henry Schein by 112.0% during the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,313,980 shares of the company’s stock valued at $435,693,000 after purchasing an additional 2,806,990 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Henry Schein by 106.0% during the third quarter. Mackenzie Financial Corp now owns 3,938,233 shares of the company’s stock valued at $322,896,000 after buying an additional 2,026,867 shares during the last quarter. Institutional investors and hedge funds own 91.75% of the company’s stock.
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Henry Schein Company Profile
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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