Wells Fargo & Company Has Lowered Expectations for Henry Schein (NASDAQ:HSIC) Stock Price

Henry Schein (NASDAQ:HSIC) had its target price cut by equities research analysts at Wells Fargo & Company from $80.00 to $75.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 12.66% from the company’s current price.

Other analysts have also recently issued reports about the company. Bank of America upgraded Henry Schein from an “underperform” rating to a “buy” rating and upped their target price for the company from $69.00 to $84.00 in a report on Monday, January 6th. StockNews.com lowered shares of Henry Schein from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. UBS Group cut their price target on shares of Henry Schein from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Piper Sandler cut their target price on Henry Schein from $83.00 to $77.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, 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 research note on Thursday, January 23rd. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Henry Schein currently has an average rating of “Moderate Buy” and an average price target of $79.30.

Henry Schein Stock Up 0.5 %

Shares of HSIC opened at $66.57 on Tuesday. The stock has a 50 day moving average price of $67.66 and a 200 day moving average price of $71.48. Henry Schein has a one year low of $60.56 and a one year high of $82.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.42. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.13 and a beta of 0.87.

Henry Schein (NASDAQ:HSIC) last posted its quarterly earnings results on Monday, May 5th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.04. Henry Schein had a net margin of 2.51% and a return on equity of 12.90%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the firm posted $1.10 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts forecast that Henry Schein will post 4.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Philip A. Laskawy sold 2,604 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 24,805 shares of the company’s stock, valued at approximately $1,762,147.20. This represents a 9.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $71.15, for a total value of $287,161.40. Following the completion of the transaction, the chief executive officer now directly owns 62,688 shares of the company’s stock, valued at $4,460,251.20. This trade represents a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.08% of the company’s stock.

Institutional Trading of Henry Schein

Several institutional investors have recently modified their holdings of the stock. Barclays PLC grew its holdings in shares of Henry Schein by 6.9% during the third quarter. Barclays PLC now owns 286,475 shares of the company’s stock worth $20,882,000 after purchasing an additional 18,458 shares during the last quarter. Virtu Financial LLC acquired a new position in Henry Schein during the third quarter worth approximately $239,000. Wilmington Savings Fund Society FSB purchased a new stake in Henry Schein in the third quarter valued at approximately $109,000. Tidal Investments LLC grew its position in shares of Henry Schein by 54.9% during the third quarter. Tidal Investments LLC now owns 13,942 shares of the company’s stock worth $1,016,000 after acquiring an additional 4,939 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Henry Schein by 14.0% in the 3rd quarter. Franklin Resources Inc. now owns 37,637 shares of the company’s stock valued at $2,673,000 after acquiring an additional 4,621 shares during the period. 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.