Pacer Advisors Inc. Sells 3,882 Shares of Henry Schein, Inc. (NASDAQ:HSIC)

Key Points

• Pacer Advisors Inc. has reduced its stake in Henry Schein, Inc. by 30.4%, selling 3,882 shares to hold a total of 8,891 shares valued at $609,000.
• Several institutional investors have increased or established their positions in Henry Schein, with California Public Employees Retirement System owning the largest share at 587,915 shares worth $40.68 million.
• Despite an earnings beat, Henry Schein's quarterly revenue was slightly down, and its stock saw a price target reduction by multiple analysts, indicating a consensus rating of "Hold" with an average target price of $78.08.

Pacer Advisors Inc. cut its holdings in shares of Henry Schein, Inc. (NASDAQ:HSIC - Free Report) by 30.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,891 shares of the company's stock after selling 3,882 shares during the period. Pacer Advisors Inc.'s holdings in Henry Schein were worth $609,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of Henry Schein in the fourth quarter worth $32,000. Rakuten Securities Inc. purchased a new position in Henry Schein in the first quarter worth about $34,000. Whittier Trust Co. raised its holdings in Henry Schein by 714.3% in the first quarter. Whittier Trust Co. now owns 798 shares of the company's stock worth $55,000 after buying an additional 700 shares during the last quarter. UMB Bank n.a. raised its holdings in Henry Schein by 23.2% in the first quarter. UMB Bank n.a. now owns 1,066 shares of the company's stock worth $73,000 after buying an additional 201 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Henry Schein by 24.5% in the first quarter. Allworth Financial LP now owns 1,178 shares of the company's stock worth $78,000 after buying an additional 232 shares during the last quarter. 96.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HSIC. Barrington Research decreased their target price on shares of Henry Schein from $90.00 to $86.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus reaffirmed a "hold" rating and set a $75.00 price target (down from $80.00) on shares of Henry Schein in a report on Friday, July 25th. Piper Sandler lowered their price target on Henry Schein from $83.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company cut their target price on shares of Henry Schein from $80.00 to $75.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Finally, Baird R W cut Henry Schein from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 14th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Henry Schein currently has an average rating of "Hold" and an average target price of $78.08.

Henry Schein Stock Performance

HSIC traded up $0.33 during midday trading on Friday, reaching $67.98. The company had a trading volume of 1,557,873 shares, compared to its average volume of 1,623,685. The company has a quick ratio of 0.75, a current ratio of 1.38 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average of $71.62 and a two-hundred day moving average of $71.33. The company has a market cap of $8.27 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.19 and a beta of 0.82. Henry Schein, Inc. has a 1 year low of $60.56 and a 1 year high of $82.49.

Henry Schein (NASDAQ:HSIC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.04. The business had revenue of $3.17 billion during the quarter, compared to analysts' expectations of $3.24 billion. Henry Schein had a return on equity of 14.87% and a net margin of 3.21%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 earnings per share. As a group, equities research analysts predict that Henry Schein, Inc. will post 4.74 earnings per share for the current fiscal year.

Henry Schein 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.