Henry Schein (NASDAQ:HSIC) Shares Gap Down - Here's Why

Henry Schein, Inc. (NASDAQ:HSIC - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $73.42, but opened at $70.38. Henry Schein shares last traded at $71.02, with a volume of 496,227 shares.

Wall Street Analysts Forecast Growth

HSIC has been the topic of several research analyst reports. Leerink Partners set a $75.00 price objective on Henry Schein in a research note on Monday. Barrington Research dropped their price target on Henry Schein from $90.00 to $86.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird reissued a "neutral" rating and issued a $72.00 price target (down previously from $82.00) on shares of Henry Schein in a research note on Monday. Wells Fargo & Company dropped their price target on Henry Schein from $80.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, Piper Sandler dropped their price target on Henry Schein from $83.00 to $77.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Henry Schein has a consensus rating of "Moderate Buy" and a consensus price target of $78.36.

Henry Schein Price Performance

The company has a market cap of $8.60 billion, a P/E ratio of 22.09, a PEG ratio of 2.37 and a beta of 0.87. The company has a fifty day moving average price of $71.56 and a two-hundred day moving average price of $71.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.75 and a current ratio of 1.38.

Henry Schein (NASDAQ:HSIC - Get Free Report) last posted 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. Henry Schein had a return on equity of 14.87% and a net margin of 3.21%. The business had revenue of $3.17 billion during the quarter, compared to analysts' expectations of $3.24 billion. During the same quarter last year, the company posted $1.10 earnings per share. Henry Schein's quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that Henry Schein, Inc. will post 4.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Henry Schein

Hedge funds and other institutional investors have recently bought and sold shares of the business. Palestra Capital Management LLC bought a new stake in shares of Henry Schein during the fourth quarter worth approximately $182,988,000. Lyrical Asset Management LP bought a new stake in shares of Henry Schein during the fourth quarter worth approximately $126,655,000. Norges Bank bought a new stake in shares of Henry Schein during the fourth quarter worth approximately $103,301,000. Steadfast Capital Management LP boosted its holdings in shares of 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 acquiring an additional 1,175,408 shares during the period. Finally, Hudson Bay Capital Management LP boosted its holdings in shares of Henry Schein by 102.1% during the fourth quarter. Hudson Bay Capital Management LP now owns 1,465,007 shares of the company's stock worth $101,378,000 after acquiring an additional 740,007 shares during the period. Institutional investors own 96.62% of the company's stock.

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.