Zacks Investment Research Lowers Henry Schein (NASDAQ:HSIC) to Hold

Henry Schein (NASDAQ:HSICGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports. They presently have a $95.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 7.26% from the stock’s current price.

According to Zacks, “Henry Schein saw robust performances by all three of its operating businesses in the fourth quarter. The company’s international performance was also impressive. In the International Dental business, the company registered strong sales growth in the U.K., driven by continued recovery. Growth within Henry Schein One continues to be driven primarily by a recovery in patient traffic in dental offices. Further, expansion of the gross margins bodes well. Henry Schein exited the fourth quarter of 2021 on a bullish note with better-than-expected results. Over the past year, Henry Schein has outperformed the industry. Meanwhile, Henry Schein continued to experience delivery and installation delays in the U.S. traditional dental equipment business during the reported quarter. The rise in operating costs is building pressure on the bottom line.”

Several other brokerages have also commented on HSIC. Piper Sandler lowered their price objective on shares of Henry Schein from $98.00 to $95.00 in a report on Friday, January 28th. Credit Suisse Group lifted their target price on shares of Henry Schein from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 16th. Barrington Research lifted their target price on shares of Henry Schein from $96.00 to $102.00 in a report on Wednesday, February 16th. StockNews.com initiated coverage on shares of Henry Schein in a report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Morgan Stanley lifted their target price on shares of Henry Schein from $67.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, February 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Henry Schein currently has an average rating of “Buy” and a consensus target price of $94.50.

HSIC traded down $1.57 on Tuesday, hitting $88.57. The company had a trading volume of 9,646 shares, compared to its average volume of 1,001,274. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 0.86. Henry Schein has a 52-week low of $70.01 and a 52-week high of $92.68. The stock has a fifty day simple moving average of $86.19 and a 200-day simple moving average of $79.87. The firm has a market capitalization of $12.23 billion, a P/E ratio of 19.86, a P/E/G ratio of 1.59 and a beta of 0.75.

Henry Schein (NASDAQ:HSICGet Rating) last issued its quarterly earnings data on Tuesday, February 15th. The company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.17. Henry Schein had a net margin of 5.09% and a return on equity of 15.84%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the business posted $1.00 earnings per share. Henry Schein’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that Henry Schein will post 4.86 earnings per share for the current fiscal year.

In related news, EVP Mark E. Mlotek sold 24,075 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $82.99, for a total value of $1,997,984.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Philip Serota bought 1,000 shares of the business’s stock in a transaction on Friday, March 4th. The stock was bought at an average cost of $85.87 per share, with a total value of $85,870.00. The disclosure for this purchase can be found here. 0.93% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Henry Schein during the 4th quarter valued at $107,029,000. Pendal Group Ltd grew its position in shares of Henry Schein by 73.3% during the 3rd quarter. Pendal Group Ltd now owns 2,739,522 shares of the company’s stock valued at $208,642,000 after acquiring an additional 1,159,051 shares during the period. Macquarie Group Ltd. grew its position in shares of Henry Schein by 57.2% during the 3rd quarter. Macquarie Group Ltd. now owns 2,208,222 shares of the company’s stock valued at $168,161,000 after acquiring an additional 803,845 shares during the period. Marathon Asset Mgmt Ltd bought a new position in Henry Schein in the 4th quarter worth $61,990,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Henry Schein in the 4th quarter worth $42,191,000. 93.73% of the stock is owned by institutional investors and hedge funds.

Henry Schein Company Profile (Get Rating)

Henry Schein, Inc provides health care products and services to dental practitioners and laboratories, 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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