William Blair Weighs in on Henry Schein, Inc.’s Q3 2017 Earnings (HSIC)
Henry Schein, Inc. (NASDAQ:HSIC) – Stock analysts at William Blair lowered their Q3 2017 EPS estimates for shares of Henry Schein in a report issued on Sunday. William Blair analyst J. Kreger now expects that the company will post earnings of $0.87 per share for the quarter, down from their prior estimate of $0.88. William Blair also issued estimates for Henry Schein’s FY2017 earnings at $3.61 EPS and FY2020 earnings at $4.93 EPS.
Several other equities research analysts also recently weighed in on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $89.00 target price on shares of Henry Schein in a research report on Friday, October 20th. Robert W. Baird set a $95.00 target price on Henry Schein and gave the stock a “buy” rating in a research report on Thursday, October 19th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $89.00 target price on shares of Henry Schein in a research report on Thursday, October 19th. Morgan Stanley began coverage on Henry Schein in a research report on Thursday, September 21st. They issued an “equal weight” rating and a $88.00 target price for the company. Finally, Royal Bank Of Canada began coverage on Henry Schein in a research report on Tuesday, September 19th. They issued a “sector perform” rating and a $91.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. Henry Schein presently has a consensus rating of “Hold” and a consensus target price of $92.89.
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Henry Schein (NASDAQ:HSIC) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.05 billion. Henry Schein had a return on equity of 19.91% and a net margin of 4.59%. Henry Schein’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS.
Henry Schein announced that its Board of Directors has initiated a stock buyback plan on Monday, September 18th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, SVP Paul Rose sold 2,126 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $172.51, for a total value of $366,756.26. Following the completion of the transaction, the senior vice president now owns 17,841 shares of the company’s stock, valued at $3,077,750.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Henry Schein by 3.0% during the second quarter. Vanguard Group Inc. now owns 8,086,317 shares of the company’s stock valued at $1,479,959,000 after buying an additional 236,862 shares in the last quarter. FMR LLC raised its stake in Henry Schein by 0.4% during the second quarter. FMR LLC now owns 6,921,367 shares of the company’s stock valued at $1,266,749,000 after buying an additional 24,935 shares in the last quarter. BlackRock Inc. raised its stake in Henry Schein by 1.8% during the second quarter. BlackRock Inc. now owns 5,696,685 shares of the company’s stock valued at $1,042,607,000 after buying an additional 101,406 shares in the last quarter. Swedbank raised its stake in Henry Schein by 84.9% during the third quarter. Swedbank now owns 2,358,594 shares of the company’s stock valued at $193,381,000 after buying an additional 1,083,115 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Henry Schein by 394.1% during the second quarter. Janus Henderson Group PLC now owns 1,465,303 shares of the company’s stock valued at $268,173,000 after buying an additional 1,168,763 shares in the last quarter. Hedge funds and other institutional investors own 47.48% of the company’s stock.
Henry Schein Company Profile
Henry Schein, Inc is a provider of healthcare products and services primarily to office-based dental, animal health and medical practitioners. The Company operates through two segments: healthcare distribution, and technology and value-added services. The healthcare distribution segment distributes consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.
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