Equities researchers at Morgan Stanley started coverage on shares of Henry Schein, Inc. (NASDAQ:HSIC) in a research report issued on Thursday. The brokerage set an “equal weight” rating and a $88.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 10.55% from the stock’s previous close.
HSIC has been the topic of a number of other reports. Credit Suisse Group reiterated a “hold” rating and issued a $87.50 target price on shares of Henry Schein in a research report on Tuesday, August 29th. BidaskClub downgraded Henry Schein from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Henry Schein from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Thursday, May 25th. Piper Jaffray Companies initiated coverage on Henry Schein in a research report on Monday, June 12th. They issued a “neutral” rating and a $100.00 target price on the stock. Finally, Northcoast Research upgraded Henry Schein from a “neutral” rating to a “buy” rating and set a $109.00 target price on the stock in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $92.85.
Henry Schein (HSIC) opened at 79.60 on Thursday. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 11.63 and a beta of 1.10. Henry Schein has a 12 month low of $73.11 and a 12 month high of $93.50. The stock’s 50 day moving average price is $85.78 and its 200 day moving average price is $88.02.
Henry Schein (NASDAQ:HSIC) last posted its earnings results on Tuesday, August 8th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.05 billion. Henry Schein had a return on equity of 19.91% and a net margin of 4.59%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. Equities research analysts anticipate that Henry Schein will post $3.64 earnings per share for the current fiscal year.
Henry Schein declared that its board has approved a share repurchase plan on Monday, September 18th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
In other news, SVP Paul Rose sold 2,126 shares of the company’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 transaction, the senior vice president now owns 17,841 shares of the company’s stock, valued at $3,077,750.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.27% of the company’s stock.
A number of large investors have recently made changes to their positions in HSIC. Waldron LP bought a new position in Henry Schein in the first quarter worth approximately $286,000. Mutual of America Capital Management LLC boosted its position in Henry Schein by 12.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 10,122 shares of the company’s stock valued at $1,720,000 after acquiring an additional 1,106 shares in the last quarter. Norinchukin Bank The boosted its position in Henry Schein by 5.4% during the 1st quarter. Norinchukin Bank The now owns 5,147 shares of the company’s stock valued at $875,000 after acquiring an additional 264 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in Henry Schein by 1.5% during the 1st quarter. GHP Investment Advisors Inc. now owns 4,360 shares of the company’s stock valued at $741,000 after acquiring an additional 65 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in Henry Schein by 73.2% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 16,010 shares of the company’s stock valued at $2,721,000 after acquiring an additional 6,767 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.
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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