Henry Schein (NASDAQ:HSIC) Price Target Cut to $70.00 by Analysts at Evercore ISI

Key Points

• Evercore ISI has lowered its price target for Henry Schein from $78.00 to $70.00, indicating a potential upside of 7.15% from the stock's current price.
• Other analysts have similarly downgraded the stock, with Baird R W moving from a "strong-buy" to a "hold" rating, reflecting a shift in market sentiment.
• Henry Schein reported $1.10 earnings per share for its last quarter, missing the consensus estimate of $1.19, despite a year-over-year revenue increase of 3.3% to $3.24 billion.

Henry Schein (NASDAQ:HSIC - Free Report) had its target price lowered by Evercore ISI from $78.00 to $70.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an in-line rating on the stock.

A number of other research firms have also issued reports on HSIC. Robert W. Baird reiterated a "neutral" rating and set a $72.00 price objective (down from $82.00) on shares of Henry Schein in a research note on Monday, July 14th. Wall Street Zen cut Henry Schein from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Piper Sandler lowered their target price on Henry Schein from $83.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Barrington Research cut their price target on Henry Schein from $86.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Baird R W cut Henry Schein from a "strong-buy" rating to a "hold" rating in a report on Monday, July 14th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Henry Schein currently has an average rating of "Hold" and a consensus target price of $75.58.

Henry Schein Stock Down 0.3%

HSIC stock traded down $0.23 during midday trading on Wednesday, hitting $65.67. The company's stock had a trading volume of 306,482 shares, compared to its average volume of 1,754,912. Henry Schein has a twelve month low of $60.56 and a twelve month high of $82.49. The stock has a market capitalization of $7.99 billion, a P/E ratio of 21.15, a PEG ratio of 2.15 and a beta of 0.81. The company's fifty day moving average price is $71.15 and its 200 day moving average price is $71.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.41 and a quick ratio of 0.75.

Henry Schein (NASDAQ:HSIC - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.10 earnings per share 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 return on equity of 14.36% and a net margin of 3.05%. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 earnings per share. As a group, equities research analysts predict that Henry Schein will post 4.74 EPS for the current year.

Hedge Funds Weigh In On Henry Schein

A number of hedge funds and other institutional investors have recently made changes to their positions in HSIC. PNC Financial Services Group Inc. boosted its holdings in Henry Schein by 0.6% during the second quarter. PNC Financial Services Group Inc. now owns 84,106 shares of the company's stock worth $6,144,000 after buying an additional 522 shares in the last quarter. denkapparat Operations GmbH acquired a new stake in Henry Schein in the 2nd quarter worth about $235,000. KBC Group NV boosted its holdings in shares of Henry Schein by 5.0% in the 2nd quarter. KBC Group NV now owns 110,652 shares of the company's stock valued at $8,083,000 after purchasing an additional 5,239 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Henry Schein by 0.4% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 535,078 shares of the company's stock worth $39,087,000 after acquiring an additional 1,921 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Henry Schein by 39.2% in the 2nd quarter. Allworth Financial LP now owns 1,640 shares of the company's stock worth $120,000 after acquiring an additional 462 shares during the period. Hedge funds and other institutional investors own 96.62% of the company's stock.

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.