Henry Schein, Inc. (NASDAQ:HSIC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in shares of Henry Schein, Inc. (NASDAQ:HSIC) by 57.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 187,819 shares of the company’s stock after selling 258,736 shares during the quarter. Bank of America Corp DE owned approximately 0.15% of Henry Schein worth $12,997,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HSIC. Palestra Capital Management LLC acquired a new position in shares of Henry Schein during the fourth quarter worth about $182,988,000. Lyrical Asset Management LP acquired a new position in shares of Henry Schein during the fourth quarter worth about $126,655,000. Norges Bank acquired a new position in shares of Henry Schein during the fourth quarter worth about $103,301,000. National Bank of Canada FI boosted its holdings in Henry Schein by 102.4% in the fourth quarter. National Bank of Canada FI now owns 1,084,511 shares of the company’s stock valued at $75,048,000 after purchasing an additional 548,561 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Henry Schein in the fourth quarter valued at approximately $34,720,000. 96.62% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Henry Schein

In other news, Director Philip A. Laskawy sold 2,604 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $71.04, for a total transaction of $184,988.16. Following the completion of the sale, the director now owns 24,805 shares in the company, valued at $1,762,147.20. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bradford C. Connett sold 4,036 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $71.15, for a total value of $287,161.40. Following the sale, the chief executive officer now owns 62,688 shares of the company’s stock, valued at $4,460,251.20. This trade represents a 6.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.08% of the company’s stock.

Henry Schein Price Performance

Shares of NASDAQ HSIC opened at $71.33 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Henry Schein, Inc. has a twelve month low of $60.56 and a twelve month high of $82.49. The stock has a 50 day moving average of $67.46 and a two-hundred day moving average of $71.49. The stock has a market cap of $8.68 billion, a P/E ratio of 29.35, a P/E/G ratio of 2.13 and a beta of 0.87.

Henry Schein (NASDAQ:HSIC) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.04. Henry Schein had a return on equity of 12.90% and a net margin of 2.51%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts forecast that Henry Schein, Inc. will post 4.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Barrington Research lowered their price target on Henry Schein from $90.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Jefferies Financial Group upped their price target on Henry Schein from $77.00 to $80.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company lowered their price target on Henry Schein from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Wall Street Zen downgraded Henry Schein from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Finally, Piper Sandler lowered their price target on Henry Schein from $83.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.30.

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.