Henry Schein (NASDAQ:HSIC) Shares Up 5.7% Following Better-Than-Expected Earnings

Henry Schein, Inc. (NASDAQ:HSIC) shares rose 5.7% on Tuesday following a stronger than expected earnings report. The stock traded as high as $72.80 and last traded at $72.46. Approximately 223,098 shares traded hands during trading, a decline of 79% from the average daily volume of 1,076,850 shares. The stock had previously closed at $68.53.

The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Henry Schein had a return on equity of 14.03% and a net margin of 3.37%. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Henry Schein from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. TheStreet raised shares of Henry Schein from a “c+” rating to a “b-” rating in a research note on Monday, February 26th. SVB Leerink initiated coverage on shares of Henry Schein in a research report on Monday, February 26th. They issued a “market perform” rating and a $78.00 target price on the stock. Leerink Partnrs reissued a “market perform” rating on shares of Henry Schein in a research note on Monday, February 26th. Finally, UBS Group reduced their price objective on Henry Schein from $82.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $81.73.

Insiders Place Their Bets

In other Henry Schein news, CEO Bradford C. Connett sold 6,430 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $74.28, for a total transaction of $477,620.40. Following the transaction, the chief executive officer now directly owns 73,108 shares of the company’s stock, valued at approximately $5,430,462.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Vice Chairman James P. Breslawski sold 2,907 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $74.37, for a total transaction of $216,193.59. Following the sale, the insider now owns 209,562 shares of the company’s stock, valued at $15,585,125.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bradford C. Connett sold 6,430 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $74.28, for a total transaction of $477,620.40. Following the transaction, the chief executive officer now directly owns 73,108 shares of the company’s stock, valued at approximately $5,430,462.24. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

Institutional Trading of Henry Schein

Several hedge funds and other institutional investors have recently made changes to their positions in HSIC. Aurora Investment Counsel grew its stake in shares of Henry Schein by 0.7% in the third quarter. Aurora Investment Counsel now owns 20,641 shares of the company’s stock worth $1,533,000 after acquiring an additional 140 shares during the last quarter. Arizona State Retirement System increased its stake in Henry Schein by 0.4% during the 4th quarter. Arizona State Retirement System now owns 35,890 shares of the company’s stock valued at $2,717,000 after purchasing an additional 149 shares in the last quarter. Empirical Finance LLC raised its holdings in Henry Schein by 3.5% in the first quarter. Empirical Finance LLC now owns 4,764 shares of the company’s stock worth $360,000 after buying an additional 160 shares during the last quarter. Keene & Associates Inc. lifted its stake in shares of Henry Schein by 4.0% in the first quarter. Keene & Associates Inc. now owns 4,505 shares of the company’s stock worth $340,000 after buying an additional 175 shares in the last quarter. Finally, Wahed Invest LLC grew its holdings in shares of Henry Schein by 9.2% during the fourth quarter. Wahed Invest LLC now owns 2,222 shares of the company’s stock valued at $168,000 after buying an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.

Henry Schein Stock Up 2.2 %

The company has a market cap of $9.35 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.68 and a beta of 0.87. The company’s 50-day moving average is $73.01 and its two-hundred day moving average is $72.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.67 and a quick ratio of 1.00.

Henry Schein Company Profile

Henry Schein, Inc provides health care products and services to dental practitioners, laboratories, physician practices, and ambulatory surgery centers, 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.