DnB Asset Management AS reduced its position in shares of Henry Schein, Inc. (NASDAQ:HSIC – Get Rating) by 49.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,887 shares of the company’s stock after selling 38,605 shares during the quarter. DnB Asset Management AS’s holdings in Henry Schein were worth $2,984,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Covestor Ltd purchased a new stake in shares of Henry Schein during the 4th quarter worth about $35,000. Quent Capital LLC purchased a new stake in shares of Henry Schein during the 4th quarter worth about $47,000. Dupont Capital Management Corp boosted its stake in shares of Henry Schein by 46.2% during the 1st quarter. Dupont Capital Management Corp now owns 611 shares of the company’s stock worth $53,000 after acquiring an additional 193 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in shares of Henry Schein during the 1st quarter worth about $89,000. Finally, Alpha Paradigm Partners LLC purchased a new stake in shares of Henry Schein during the 4th quarter worth about $105,000. 94.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
HSIC has been the topic of several recent analyst reports. Piper Sandler lowered their target price on shares of Henry Schein from $100.00 to $96.00 in a research note on Tuesday, August 2nd. The Goldman Sachs Group lowered shares of Henry Schein from a “buy” rating to a “neutral” rating and decreased their price target for the company from $93.00 to $85.00 in a research note on Thursday, July 21st. UBS Group raised shares of Henry Schein from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Monday, August 8th. Barrington Research decreased their price target on shares of Henry Schein from $102.00 to $99.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 3rd. Finally, Robert W. Baird lowered shares of Henry Schein from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $103.00 to $88.00 in a research note on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $85.89.
Henry Schein Stock Down 2.6 %
Henry Schein (NASDAQ:HSIC – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.16 EPS for the quarter, meeting analysts’ consensus estimates of $1.16. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.12 billion. Henry Schein had a net margin of 5.11% and a return on equity of 15.56%. Henry Schein’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 EPS. As a group, analysts forecast that Henry Schein, Inc. will post 4.85 earnings per share for the current fiscal year.
Henry Schein announced that its board has approved a share buyback plan on Thursday, August 18th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to buy up to 4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
Henry Schein Profile
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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