Wall Street analysts forecast that Henry Schein, Inc. (NASDAQ:HSIC) will announce sales of $2.64 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Henry Schein’s earnings. The lowest sales estimate is $2.61 billion and the highest is $2.67 billion. Henry Schein posted sales of $3.38 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 21.9%. The business is scheduled to issue its next earnings report before the market opens on Thursday, February 20th.
On average, analysts expect that Henry Schein will report full year sales of $9.95 billion for the current fiscal year, with estimates ranging from $9.93 billion to $9.99 billion. For the next year, analysts anticipate that the business will report sales of $10.30 billion, with estimates ranging from $10.21 billion to $10.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Henry Schein.
A number of equities research analysts have issued reports on HSIC shares. Zacks Investment Research lowered shares of Henry Schein from a “hold” rating to a “sell” rating and set a $71.00 target price on the stock. in a report on Wednesday, November 6th. Barrington Research restated a “buy” rating and issued a $75.00 price objective on shares of Henry Schein in a research note on Wednesday, November 6th. Robert W. Baird cut Henry Schein from an “outperform” rating to a “neutral” rating in a research note on Thursday, January 2nd. Evercore ISI cut shares of Henry Schein from an “in-line” rating to an “underperform” rating in a research note on Friday, January 3rd. Finally, Cleveland Research reiterated a “hold” rating on shares of Henry Schein in a research note on Friday, November 1st. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $70.50.
Henry Schein announced that its board has approved a stock buyback program on Thursday, October 31st that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several large investors have recently modified their holdings of the company. Pictet Asset Management Ltd. lifted its holdings in shares of Henry Schein by 200.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 448,914 shares of the company’s stock valued at $28,506,000 after buying an additional 897,302 shares during the period. Renaissance Technologies LLC raised its position in Henry Schein by 201.1% in the fourth quarter. Renaissance Technologies LLC now owns 559,412 shares of the company’s stock worth $37,324,000 after acquiring an additional 373,600 shares in the last quarter. Anchor Capital Advisors LLC raised its position in Henry Schein by 125.2% in the fourth quarter. Anchor Capital Advisors LLC now owns 407,431 shares of the company’s stock worth $27,184,000 after acquiring an additional 226,488 shares in the last quarter. Bank of New York Mellon Corp raised its position in Henry Schein by 11.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,076,698 shares of the company’s stock worth $138,558,000 after acquiring an additional 210,625 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Henry Schein by 11.1% in the fourth quarter. AQR Capital Management LLC now owns 1,761,872 shares of the company’s stock valued at $117,305,000 after acquiring an additional 175,859 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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