Prospector Partners LLC Takes $7.74 Million Position in Henry Schein, Inc. $HSIC

Key Points

• Prospector Partners LLC has acquired a stake in Henry Schein, Inc. worth approximately $7.74 million by purchasing 112,966 shares during the first quarter.
• Several institutional investors, including JPMorgan Chase & Co. and Burgundy Asset Management Ltd., have also increased their positions in Henry Schein, which now boasts 96.62% institutional ownership.
• Recent analyst reports have downgraded Henry Schein’s stock, with the average target price now set at $75.58, reflecting a range of ratings from "hold" to "buy."

Prospector Partners LLC bought a new stake in Henry Schein, Inc. (NASDAQ:HSIC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 112,966 shares of the company's stock, valued at approximately $7,737,000. Prospector Partners LLC owned 0.09% of Henry Schein as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Henry Schein by 6.5% during the first quarter. JPMorgan Chase & Co. now owns 6,373,036 shares of the company's stock worth $436,489,000 after purchasing an additional 390,399 shares during the period. Palestra Capital Management LLC bought a new stake in Henry Schein during the fourth quarter worth about $182,988,000. Dimensional Fund Advisors LP lifted its position in Henry Schein by 4.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,240,933 shares of the company's stock worth $153,480,000 after purchasing an additional 103,384 shares during the period. Burgundy Asset Management Ltd. lifted its position in Henry Schein by 33.9% during the first quarter. Burgundy Asset Management Ltd. now owns 2,235,429 shares of the company's stock worth $153,105,000 after purchasing an additional 566,530 shares during the period. Finally, Steadfast Capital Management LP lifted its position in Henry Schein by 254.2% during the fourth quarter. Steadfast Capital Management LP now owns 1,637,808 shares of the company's stock worth $113,336,000 after purchasing an additional 1,175,408 shares during the period. Institutional investors own 96.62% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HSIC. UBS Group cut their price objective on shares of Henry Schein from $75.00 to $70.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. 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. JPMorgan Chase & Co. lowered their target price on Henry Schein from $80.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Baird R W downgraded Henry Schein from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company lowered their target price on Henry Schein from $80.00 to $75.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $75.58.

Henry Schein Stock Performance

Henry Schein stock opened at $67.84 on Monday. The business has a 50 day moving average of $70.81 and a 200-day moving average of $70.72. Henry Schein, Inc. has a 1 year low of $60.56 and a 1 year high of $82.49. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.41 and a quick ratio of 0.78. The company has a market capitalization of $8.23 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.24 and a beta of 0.81.

Henry Schein (NASDAQ:HSIC - Get Free Report) last released its quarterly earnings data 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). Henry Schein had a net margin of 3.05% and a return on equity of 14.36%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same period in the prior year, the company earned $1.23 EPS. The business's quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that Henry Schein, Inc. will post 4.74 earnings per share for the current 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.

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