State Treasurer State of Michigan raised its holdings in Henry Schein, Inc. (NASDAQ:HSIC) by 84.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,144 shares of the company’s stock after buying an additional 22,072 shares during the quarter. State Treasurer State of Michigan’s holdings in Henry Schein were worth $3,947,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. YorkBridge Wealth Partners LLC increased its holdings in Henry Schein by 5.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 570 shares of the company’s stock valued at $104,000 after buying an additional 28 shares during the period. Sun Life Financial INC increased its holdings in Henry Schein by 8,185.7% in the 2nd quarter. Sun Life Financial INC now owns 580 shares of the company’s stock valued at $106,000 after buying an additional 573 shares during the period. Lee Financial Co bought a new stake in Henry Schein in the 2nd quarter valued at $161,000. Acrospire Investment Management LLC increased its holdings in Henry Schein by 150.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock valued at $183,000 after buying an additional 600 shares during the period. Finally, HM Payson & Co. bought a new stake in Henry Schein in the 2nd quarter valued at $204,000. 47.48% of the stock is currently owned by hedge funds and other institutional investors.
HSIC has been the topic of several analyst reports. Credit Suisse Group reissued a “hold” rating and issued a $87.50 price target on shares of Henry Schein in a report on Tuesday, August 29th. Piper Jaffray Companies raised shares of Henry Schein from a “neutral” rating to an “overweight” rating in a report on Friday, September 15th. Morgan Stanley initiated coverage on shares of Henry Schein in a report on Thursday, September 21st. They issued an “equal weight” rating and a $88.00 price target on the stock. UBS AG reissued a “buy” rating on shares of Henry Schein in a report on Friday, September 15th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Henry Schein in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $92.89.
In related news, SVP Paul Rose sold 2,126 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $172.51, for a total value of $366,756.26. Following the transaction, the senior vice president now owns 17,841 shares in the company, valued at $3,077,750.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.19% of the stock is currently owned by company insiders.
Shares of Henry Schein, Inc. (NASDAQ:HSIC) opened at 76.55 on Monday. The stock has a 50 day moving average of $81.84 and a 200 day moving average of $87.16. Henry Schein, Inc. has a 52 week low of $73.11 and a 52 week high of $93.50. The firm has a market cap of $12.10 billion, a P/E ratio of 22.37 and a beta of 1.09.
Henry Schein (NASDAQ:HSIC) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. Henry Schein had a return on equity of 19.91% and a net margin of 4.59%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the business earned $0.82 earnings per share. Henry Schein’s revenue was up 6.4% on a year-over-year basis. Analysts anticipate that Henry Schein, Inc. will post $3.64 earnings per share for the current fiscal year.
Henry Schein declared that its board has initiated a share buyback plan on Monday, September 18th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
About Henry Schein
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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