Henry Schein (NASDAQ:HSIC) had its price objective hoisted by Piper Jaffray Companies from $72.00 to $80.00 in a research report sent to investors on Monday morning, The Fly reports. They currently have an overweight rating on the stock. Piper Jaffray Companies also issued estimates for Henry Schein’s Q4 2019 earnings at $0.92 EPS, FY2019 earnings at $3.46 EPS, Q1 2020 earnings at $0.89 EPS, Q2 2020 earnings at $0.91 EPS, Q3 2020 earnings at $0.94 EPS, Q4 2020 earnings at $0.99 EPS, FY2020 earnings at $3.73 EPS, Q1 2021 earnings at $0.96 EPS, Q2 2021 earnings at $0.98 EPS, Q3 2021 earnings at $1.02 EPS and FY2021 earnings at $4.02 EPS.
HSIC has been the subject of several other reports. TheStreet raised Henry Schein from a c+ rating to a b rating in a research note on Monday, October 14th. William Blair downgraded Henry Schein from an outperform rating to a market perform rating in a research note on Wednesday, August 7th. Cleveland Research reaffirmed a hold rating on shares of Henry Schein in a research note on Friday, November 1st. BidaskClub downgraded Henry Schein from a hold rating to a sell rating in a research note on Thursday, September 26th. Finally, Barrington Research reaffirmed a buy rating and set a $75.00 price objective on shares of Henry Schein in a research note on Wednesday, November 6th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Henry Schein presently has a consensus rating of Hold and an average target price of $70.75.
Shares of Henry Schein stock traded up $0.28 on Monday, hitting $68.46. The stock had a trading volume of 1,031,700 shares, compared to its average volume of 1,535,493. Henry Schein has a 52-week low of $56.58 and a 52-week high of $72.81. The company has a current ratio of 1.63, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 2.67 and a beta of 0.85. The company’s 50 day moving average price is $63.77 and its 200 day moving average price is $65.48.
Henry Schein declared that its Board of Directors has initiated a share repurchase program on Thursday, October 31st that allows the company to buyback $400.00 million in shares. This buyback authorization allows the company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
In other news, SVP Michael S. Ettinger sold 3,671 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $66.96, for a total transaction of $245,810.16. Following the completion of the transaction, the senior vice president now directly owns 87,972 shares of the company’s stock, valued at approximately $5,890,605.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Steven Paladino sold 21,370 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $1,470,897.10. Following the transaction, the chief financial officer now directly owns 144,863 shares of the company’s stock, valued at $9,970,920.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,655 shares of company stock valued at $8,373,585. Company insiders own 1.06% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Henry Schein by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 16,865,641 shares of the company’s stock worth $1,178,909,000 after buying an additional 391,485 shares in the last quarter. Longview Partners Guernsey LTD grew its holdings in shares of Henry Schein by 15.8% in the 2nd quarter. Longview Partners Guernsey LTD now owns 15,527,241 shares of the company’s stock worth $1,085,354,000 after acquiring an additional 2,117,869 shares during the period. Atlanta Capital Management Co. L L C grew its holdings in shares of Henry Schein by 0.5% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 6,343,280 shares of the company’s stock worth $443,395,000 after acquiring an additional 30,201 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Henry Schein by 9.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,664,995 shares of the company’s stock worth $184,285,000 after acquiring an additional 238,078 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Henry Schein by 1.1% in the 2nd quarter. Northern Trust Corp now owns 1,959,014 shares of the company’s stock worth $136,934,000 after acquiring an additional 20,415 shares during the period.
About Henry Schein
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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