Henry Schein, Inc. (NASDAQ:HSIC) – Equities research analysts at Gabelli cut their FY2017 earnings per share estimates for shares of Henry Schein in a research note issued on Monday. Gabelli analyst K. Kedra now forecasts that the company will post earnings per share of $3.60 for the year, down from their prior forecast of $3.63. Gabelli also issued estimates for Henry Schein’s FY2019 earnings at $4.50 EPS and FY2021 earnings at $5.45 EPS.
Henry Schein (NASDAQ:HSIC) last issued its earnings results on Tuesday, August 8th. The company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.02. Henry Schein had a net margin of 4.59% and a return on equity of 19.91%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the firm posted $0.82 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year.
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HSIC has been the subject of several other reports. Zacks Investment Research downgraded shares of Henry Schein from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Northcoast Research raised shares of Henry Schein from a “neutral” rating to a “buy” rating and set a $109.00 price objective for the company in a report on Monday, August 7th. Robert W. Baird set a $95.00 price objective on shares of Henry Schein and gave the stock a “buy” rating in a report on Thursday, October 19th. UBS AG reaffirmed a “buy” rating on shares of Henry Schein in a report on Friday, September 15th. Finally, Piper Jaffray Companies upgraded shares of Henry Schein from a “neutral” rating to an “overweight” rating in a research note on Friday, September 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $92.89.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSIC. Vanguard Group Inc. raised its position in Henry Schein by 3.0% during the second quarter. Vanguard Group Inc. now owns 8,086,317 shares of the company’s stock valued at $1,479,959,000 after purchasing an additional 236,862 shares during the period. FMR LLC raised its holdings in shares of Henry Schein by 0.4% in the second quarter. FMR LLC now owns 6,921,367 shares of the company’s stock worth $1,266,749,000 after buying an additional 24,935 shares during the period. BlackRock Inc. raised its holdings in shares of Henry Schein by 1.8% in the second quarter. BlackRock Inc. now owns 5,696,685 shares of the company’s stock worth $1,042,607,000 after buying an additional 101,406 shares during the period. Swedbank raised its holdings in shares of Henry Schein by 84.9% in the third quarter. Swedbank now owns 2,358,594 shares of the company’s stock worth $193,381,000 after buying an additional 1,083,115 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Henry Schein by 394.1% in the second quarter. Janus Henderson Group PLC now owns 1,465,303 shares of the company’s stock worth $268,173,000 after buying an additional 1,168,763 shares during the period. 47.48% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Paul Rose sold 2,126 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 17,841 shares in the company, valued at $3,077,750.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.19% of the stock is owned by insiders.
Henry Schein declared that its Board of Directors has initiated a stock repurchase program on Monday, September 18th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.
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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