National Bank of Canada FI Lowers Holdings in Henry Schein, Inc. (NASDAQ:HSIC)

Key Points

• National Bank of Canada FI significantly reduced its stake in Henry Schein, Inc. by 58.5%, selling 634,729 shares and now owning approximately 0.37% of the company.
• Despite a revenue increase of 3.3% year-over-year, Henry Schein reported earnings per share of $1.10, missing analysts' expectations of $1.19.
• Currently, Henry Schein has a consensus rating of "Hold" from analysts, with a target price averaging around $75.58.

National Bank of Canada FI reduced its position in Henry Schein, Inc. (NASDAQ:HSIC - Free Report) by 58.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 449,782 shares of the company's stock after selling 634,729 shares during the period. National Bank of Canada FI owned about 0.37% of Henry Schein worth $30,806,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Citigroup Inc. lifted its stake in Henry Schein by 18.4% in the first quarter. Citigroup Inc. now owns 344,944 shares of the company's stock valued at $23,625,000 after acquiring an additional 53,526 shares during the last quarter. CenterBook Partners LP bought a new position in Henry Schein during the first quarter worth $433,000. Ontario Teachers Pension Plan Board increased its position in Henry Schein by 797.9% during the first quarter. Ontario Teachers Pension Plan Board now owns 37,543 shares of the company's stock worth $2,571,000 after acquiring an additional 33,362 shares during the period. Charles Schwab Investment Management Inc. increased its position in Henry Schein by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,203,676 shares of the company's stock worth $82,440,000 after acquiring an additional 11,999 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new stake in Henry Schein in the 1st quarter valued at $318,000. 96.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HSIC has been the topic of several analyst reports. Piper Sandler lowered their price target on shares of Henry Schein from $83.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Robert W. Baird reissued a "neutral" rating and set a $72.00 price objective (down previously from $82.00) on shares of Henry Schein in a report on Monday, July 14th. JPMorgan Chase & Co. cut their target price on shares of Henry Schein from $80.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. UBS Group cut their price target on shares of Henry Schein from $75.00 to $70.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Evercore ISI lowered their target price on Henry Schein from $78.00 to $70.00 and set an "in-line" rating for the company in a research note on Wednesday, August 6th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Henry Schein presently has a consensus rating of "Hold" and an average target price of $75.58.

Henry Schein Stock Performance

NASDAQ:HSIC traded up $1.40 during trading on Tuesday, reaching $67.50. The company's stock had a trading volume of 2,751,853 shares, compared to its average volume of 2,121,048. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 1.41. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 2.18 and a beta of 0.81. Henry Schein, Inc. has a 12 month low of $60.56 and a 12 month high of $82.49. The firm has a 50 day moving average of $70.94 and a 200-day moving average of $70.98.

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

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.