Sprucegrove Investment Management Ltd. Sells 109,551 Shares of Henry Schein, Inc. (NASDAQ:HSIC)

Key Points

• Sprucegrove Investment Management Ltd. reduced its stake in Henry Schein by 26.8%, selling 109,551 shares and retaining 299,890 shares, which accounts for approximately 1.8% of its investment portfolio.
• Several institutional investors have also recently adjusted their stakes in Henry Schein, with 96.62% of the stock owned by hedge funds and other institutional investors.
• Henry Schein reported earnings of $1.10 per share for the recent quarter, missing analysts' consensus estimates, while its revenue grew by 3.3% compared to the same quarter last year.

Sprucegrove Investment Management Ltd. lowered its position in shares of Henry Schein, Inc. (NASDAQ:HSIC - Free Report) by 26.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 299,890 shares of the company's stock after selling 109,551 shares during the quarter. Henry Schein accounts for approximately 1.8% of Sprucegrove Investment Management Ltd.'s investment portfolio, making the stock its 8th largest position. Sprucegrove Investment Management Ltd. owned approximately 0.25% of Henry Schein worth $20,539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in shares of Henry Schein in the 4th quarter valued at approximately $32,000. Rakuten Securities Inc. purchased a new stake in shares of Henry Schein in the first quarter worth approximately $34,000. Whittier Trust Co. grew its holdings in Henry Schein by 714.3% during the first quarter. Whittier Trust Co. now owns 798 shares of the company's stock valued at $55,000 after purchasing an additional 700 shares during the period. UMB Bank n.a. lifted its position in shares of Henry Schein by 23.2% during the first quarter. UMB Bank n.a. now owns 1,066 shares of the company's stock worth $73,000 after acquiring an additional 201 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Henry Schein by 24.5% in the first quarter. Allworth Financial LP now owns 1,178 shares of the company's stock valued at $78,000 after acquiring an additional 232 shares during the last quarter. 96.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on HSIC. Piper Sandler decreased their price objective 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. UBS Group dropped their target price on Henry Schein from $75.00 to $70.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company cut their price target 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. JPMorgan Chase & Co. cut their price objective on Henry Schein from $80.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, Stifel Nicolaus reissued a "hold" rating and set a $75.00 price objective (down from $80.00) on shares of Henry Schein in a research note on Friday, July 25th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Henry Schein has a consensus rating of "Hold" and a consensus target price of $75.58.

Henry Schein Stock Down 0.1%

Shares of NASDAQ:HSIC opened at $67.84 on Friday. 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 cap of $8.23 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.24 and a beta of 0.81. The firm has a fifty day moving average price of $70.81 and a two-hundred day moving average price of $70.85. Henry Schein, Inc. has a one year low of $60.56 and a one year high of $82.49.

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

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