Henry Schein (NASDAQ:HSIC) Trading Up 6.2% – Here’s Why

Henry Schein, Inc. (NASDAQ:HSIC) rose 6.2% during trading on Wednesday . The stock traded as high as $81.85 and last traded at $80.80. Approximately 720,124 shares traded hands during trading, a decline of 29% from the average daily volume of 1,013,515 shares. The stock had previously closed at $76.10.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Jefferies Financial Group increased their target price on shares of Henry Schein from $77.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. StockNews.com raised Henry Schein from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Barrington Research restated an “outperform” rating and set a $82.00 price objective on shares of Henry Schein in a research report on Wednesday, November 6th. Bank of America upgraded Henry Schein from an “underperform” rating to a “buy” rating and increased their target price for the company from $69.00 to $84.00 in a research report on Monday, January 6th. Finally, Mizuho began coverage on Henry Schein in a report on Wednesday, December 4th. They set a “neutral” rating and a $75.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.30.

Henry Schein Stock Up 5.1 %

The firm has a market cap of $9.97 billion, a P/E ratio of 32.89, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89. The stock’s 50 day simple moving average is $73.07 and its 200 day simple moving average is $71.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.42.

Henry Schein (NASDAQ:HSIC) last posted its earnings results on Tuesday, November 5th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. Henry Schein had a net margin of 2.51% and a return on equity of 12.90%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business posted $1.32 EPS. The firm’s revenue was up .4% compared to the same quarter last year. Research analysts anticipate that Henry Schein, Inc. will post 4.78 EPS for the current year.

Insiders Place Their Bets

In other news, COO Michael S. Ettinger sold 12,240 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $75.00, for a total transaction of $918,000.00. Following the completion of the transaction, the chief operating officer now directly owns 87,706 shares of the company’s stock, valued at $6,577,950. This represents a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.14% of the company’s stock.

Institutional Trading of Henry Schein

A number of institutional investors have recently added to or reduced their stakes in HSIC. ING Groep NV purchased a new stake in shares of Henry Schein in the third quarter worth about $63,226,000. Holocene Advisors LP purchased a new position in Henry Schein during the third quarter worth about $58,319,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Henry Schein in the 3rd quarter worth about $43,740,000. Southpoint Capital Advisors LP raised its holdings in shares of Henry Schein by 30.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,600,000 shares of the company’s stock valued at $189,540,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Henry Schein by 365.6% during the 3rd quarter. Bank of Montreal Can now owns 711,487 shares of the company’s stock valued at $52,095,000 after acquiring an additional 558,689 shares during the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.

About Henry Schein

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.