Bank of Nova Scotia Sells 278,039 Shares of Henry Schein, Inc. (NASDAQ:HSIC)

Key Points

• Bank of Nova Scotia has significantly reduced its stake in Henry Schein, Inc. by 97.0%, selling 278,039 shares and ending with a total of 8,671 shares valued at $594,000.
• Multiple analysts have downgraded their price targets for Henry Schein, with Evercore ISI lowering its target from $78.00 to $70.00, while Robert W. Baird set a new target of $72.00, down from $82.00.
• Henry Schein reported a missed earnings per share of $1.10 for the last quarter, falling short of the consensus estimate of $1.19, despite achieving a revenue of $3.24 billion, which was above expectations.

Bank of Nova Scotia decreased its stake in shares of Henry Schein, Inc. (NASDAQ:HSIC - Free Report) by 97.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,671 shares of the company's stock after selling 278,039 shares during the period. Bank of Nova Scotia's holdings in Henry Schein were worth $594,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its holdings in Henry Schein by 12.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,352 shares of the company's stock worth $301,000 after purchasing an additional 468 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Henry Schein by 12.6% during the fourth quarter. Wellington Management Group LLP now owns 6,902 shares of the company's stock valued at $478,000 after acquiring an additional 775 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Henry Schein by 2.2% during the fourth quarter. Russell Investments Group Ltd. now owns 215,712 shares of the company's stock valued at $14,927,000 after acquiring an additional 4,711 shares in the last quarter. FMR LLC increased its holdings in shares of Henry Schein by 6.6% during the fourth quarter. FMR LLC now owns 3,498,033 shares of the company's stock valued at $242,064,000 after acquiring an additional 217,143 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Henry Schein in the fourth quarter worth about $34,720,000. Institutional investors own 96.62% of the company's stock.

Henry Schein Stock Performance

Shares of Henry Schein stock traded up $1.40 during trading hours on Tuesday, reaching $67.50. 2,751,853 shares of the stock traded hands, compared to its average volume of 1,774,827. The company has a 50 day moving average price of $71.00 and a 200 day moving average price of $71.00. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 2.17 and a beta of 0.81. Henry Schein, Inc. has a one year low of $60.56 and a one year high of $82.49. The company has a quick ratio of 0.78, a current ratio of 1.41 and a debt-to-equity ratio of 0.51.

Henry Schein (NASDAQ:HSIC - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.09). The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.22 billion. Henry Schein had a net margin of 3.05% and a return on equity of 14.36%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. On average, equities research analysts expect that Henry Schein, Inc. will post 4.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Evercore ISI decreased their target price on shares of Henry Schein from $78.00 to $70.00 and set an "in-line" rating for the company in a report on Wednesday, August 6th. Wall Street Zen cut shares of Henry Schein from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Baird R W cut shares of Henry Schein from a "strong-buy" rating to a "hold" rating in a report on Monday, July 14th. Piper Sandler decreased their target price on shares of Henry Schein from $83.00 to $77.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Stifel Nicolaus reaffirmed a "hold" rating and issued a $75.00 target price (down from $80.00) on shares of Henry Schein in a report on Friday, July 25th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Henry Schein has an average rating of "Hold" and an average target price of $75.58.

Henry Schein Company Profile

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.