Henry Schein Inc. (NASDAQ:HSIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
According to Zacks, “We are disappointed with Henry Schein lowering the upper end of the previously provided EPS guidance range for 2016. Meanwhile, foreign currency fluctuations and competitive headwinds continue to impede the company’s business. However, on a positive note, Henry Schein’s impending acquisition of Marrodent should help it tap into the abundant dental market opportunities in Poland. We are also encouraged by the company’s recent strong share gains in both North American and overseas markets. Its recent investment in Custom Automated Prosthetics – a U.S. digital laboratory supply company offering CAD/CAM equipment and zirconia materials, buoys optimism. However, the company’s weakness in North American Dental sales was less than expectation. The year-over-year deterioration in Henry Schein’s gross margin figure on account of higher cost of sales also depresses us.”
Several other research analysts also recently commented on the company. Goldman Sachs Group Inc. raised Henry Schein from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Tuesday, October 11th. Robert W. Baird downgraded Henry Schein from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $176.00 to $164.00 in a research note on Friday, October 14th. Finally, Bank of America Corp. started coverage on Henry Schein in a research note on Monday, September 12th. They issued a “buy” rating and a $185.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $159.50.
Henry Schein (NASDAQ:HSIC) opened at 153.35 on Monday. Henry Schein has a 52 week low of $142.64 and a 52 week high of $183.00. The firm has a 50-day moving average of $161.57 and a 200-day moving average of $169.75. The company has a market cap of $12.54 billion, a price-to-earnings ratio of 25.98 and a beta of 1.05.
Henry Schein (NASDAQ:HSIC) last issued its earnings results on Thursday, August 4th. The company reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.01. The firm earned $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Henry Schein had a return on equity of 17.84% and a net margin of 4.42%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. Equities analysts forecast that Henry Schein will post $6.57 earnings per share for the current year.
In other Henry Schein news, Director Paul Brons sold 3,381 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $164.03, for a total transaction of $554,585.43. Following the transaction, the director now directly owns 13,715 shares in the company, valued at approximately $2,249,671.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.27% of the company’s stock.
Several institutional investors have recently bought and sold shares of HSIC. Advisor Group Inc. acquired a new position in Henry Schein during the second quarter worth about $106,000. Global X Management Co. LLC boosted its position in Henry Schein by 18.7% in the second quarter. Global X Management Co. LLC now owns 661 shares of the company’s stock worth $117,000 after buying an additional 104 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Henry Schein by 0.4% in the second quarter. Quadrant Capital Group LLC now owns 742 shares of the company’s stock worth $128,000 after buying an additional 3 shares during the last quarter. Van ECK Associates Corp boosted its position in Henry Schein by 29.1% in the second quarter. Van ECK Associates Corp now owns 727 shares of the company’s stock worth $129,000 after buying an additional 164 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. boosted its position in Henry Schein by 108.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,018 shares of the company’s stock worth $180,000 after buying an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.
Henry Schein Company Profile
Henry Schein, Inc is a provider of health care products and services to office-based dental, animal health and medical practitioners. The Company’s segments include healthcare distribution, and technology and value-added services. The healthcare distribution segment aggregates its global dental, animal health and medical operating segments.
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