Henry Schein (NASDAQ:HSIC) had its target price cut by equities researchers at Royal Bank of Canada to $69.00 in a research note issued to investors on Tuesday, The Fly reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 14.26% from the company’s previous close.
HSIC has been the topic of a number of other research reports. BidaskClub downgraded Henry Schein from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 23rd. Zacks Investment Research downgraded Henry Schein from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. ValuEngine raised Henry Schein from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Evercore ISI downgraded Henry Schein from an “in-line” rating to an “underperform” rating and set a $76.39 price objective on the stock. in a research note on Thursday, January 3rd. Finally, Edward Jones downgraded Henry Schein from a “hold” rating to a “sell” rating in a research note on Thursday, October 25th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $83.29.
Shares of HSIC stock opened at $60.39 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 1.30 and a debt-to-equity ratio of 0.29. Henry Schein has a 1 year low of $57.78 and a 1 year high of $91.35. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.86 and a beta of 0.89.
Henry Schein announced that its Board of Directors has initiated a share repurchase program on Thursday, December 13th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, CFO Steven Paladino sold 21,110 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $90.06, for a total transaction of $1,901,166.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David Mckinley sold 8,321 shares of the business’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $88.77, for a total value of $738,655.17. Following the sale, the insider now directly owns 68,012 shares in the company, valued at $6,037,425.24. The disclosure for this sale can be found here. Insiders have sold 105,856 shares of company stock worth $9,222,275 over the last ninety days. 1.15% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in HSIC. Financial Gravity Companies Inc. acquired a new position in Henry Schein during the fourth quarter valued at $29,000. Bruderman Asset Management LLC acquired a new position in Henry Schein during the fourth quarter valued at $39,000. Ipswich Investment Management Co. Inc. acquired a new position in Henry Schein during the fourth quarter valued at $45,000. Howe & Rusling Inc. raised its position in Henry Schein by 200.0% during the fourth quarter. Howe & Rusling Inc. now owns 600 shares of the company’s stock valued at $47,000 after buying an additional 400 shares during the period. Finally, Essex Savings Bank acquired a new position in Henry Schein during the fourth quarter valued at $48,000.
About Henry Schein
Henry Schein, Inc provides health care products and services to dental practitioners and laboratories, animal health clinics, physician practices, government, institutional health care clinics, and other alternate care clinics worldwide. It operates through two segments, Health Care Distribution, and Technology and Value-Added Services.
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