Henry Schein (NASDAQ:HSIC) Trading Up 5.7% on Earnings Beat

Shares of Henry Schein, Inc. (NASDAQ:HSIC) rose 5.7% on Tuesday following a better than expected earnings announcement. The stock traded as high as $72.80 and last traded at $72.46. Approximately 223,098 shares traded hands during mid-day 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, topping the consensus estimate of $1.01 by $0.09. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Henry Schein had a net margin of 3.37% and a return on equity of 14.03%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HSIC. Evercore ISI raised their price target on Henry Schein from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. TheStreet upgraded shares of Henry Schein from a “c+” rating to a “b-” rating in a report on Monday, February 26th. Piper Sandler increased their price target on shares of Henry Schein from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Barrington Research boosted their price objective on shares of Henry Schein from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Finally, SVB Leerink started coverage on shares of Henry Schein in a research note on Monday, February 26th. They issued a “market perform” rating and a $78.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.09.

Insider Activity

In other Henry Schein news, Vice Chairman James P. Breslawski sold 2,907 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $74.37, for a total transaction of $216,193.59. Following the transaction, the insider now owns 209,562 shares in the company, valued at approximately $15,585,125.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Henry Schein 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 value of $216,193.59. Following the completion of the sale, the insider now owns 209,562 shares of the company’s stock, valued at approximately $15,585,125.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bradford C. Connett sold 6,430 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 in the company, valued at $5,430,462.24. The disclosure for this sale can be found here. 1.14% of the stock is owned by company insiders.

Institutional Trading of Henry Schein

Large investors have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. bought a new stake in Henry Schein during the fourth quarter worth about $39,000. Baystate Wealth Management LLC lifted its holdings in shares of Henry Schein by 2,500.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 520 shares of the company’s stock worth $39,000 after acquiring an additional 500 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Henry Schein during the 3rd quarter worth approximately $46,000. Mather Group LLC. bought a new position in Henry Schein in the first quarter valued at approximately $97,000. Finally, Covestor Ltd raised its position in Henry Schein by 22.8% during the third quarter. Covestor Ltd now owns 1,367 shares of the company’s stock valued at $102,000 after purchasing an additional 254 shares in the last quarter. 96.62% of the stock is owned by institutional investors and hedge funds.

Henry Schein Stock Up 3.9 %

The firm has a 50 day simple moving average of $73.08 and a two-hundred day simple moving average of $72.34. The company has a quick ratio of 1.00, a current ratio of 1.67 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $9.15 billion, a P/E ratio of 22.60, a PEG ratio of 1.68 and a beta of 0.87.

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.