Palestra Capital Management LLC Invests $182.99 Million in Henry Schein, Inc. (NASDAQ:HSIC)

Palestra Capital Management LLC acquired a new position in Henry Schein, Inc. (NASDAQ:HSIC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,644,336 shares of the company's stock, valued at approximately $182,988,000. Henry Schein makes up 5.0% of Palestra Capital Management LLC's portfolio, making the stock its 3rd biggest holding. Palestra Capital Management LLC owned about 2.12% of Henry Schein as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of HSIC. Invesco Ltd. raised its holdings in Henry Schein by 0.4% during the fourth quarter. Invesco Ltd. now owns 4,963,409 shares of the company's stock worth $343,468,000 after purchasing an additional 17,552 shares during the last quarter. FMR LLC raised its position in Henry Schein by 6.6% during the fourth quarter. FMR LLC now owns 3,498,033 shares of the company's stock worth $242,064,000 after acquiring an additional 217,143 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Henry Schein by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,169,033 shares of the company's stock valued at $218,762,000 after purchasing an additional 14,876 shares in the last quarter. Fiduciary Management Inc. WI grew its position in shares of Henry Schein by 7.2% in the fourth quarter. Fiduciary Management Inc. WI now owns 2,488,335 shares of the company's stock valued at $172,193,000 after purchasing an additional 167,990 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Henry Schein by 15.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,137,549 shares of the company's stock worth $147,920,000 after purchasing an additional 279,507 shares in the last quarter. Institutional investors and hedge funds own 96.62% of the company's stock.

Henry Schein Trading Up 2.0 %

Shares of HSIC traded up $1.28 during trading hours on Monday, hitting $66.58. The stock had a trading volume of 2,289,258 shares, compared to its average volume of 1,629,790. The company's fifty day simple moving average is $68.01 and its 200 day simple moving average is $71.59. Henry Schein, Inc. has a 12-month low of $60.56 and a 12-month high of $82.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.42. The firm has a market cap of $8.16 billion, a P/E ratio of 27.40, a P/E/G ratio of 2.13 and a beta of 0.87.

Henry Schein (NASDAQ:HSIC - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $1.15 earnings per share (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 12.90% and a net margin of 2.51%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 EPS. Equities research analysts forecast that Henry Schein, Inc. will post 4.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on HSIC shares. Bank of America upgraded Henry Schein from an "underperform" rating to a "buy" rating and increased their target price for the company from $69.00 to $84.00 in a report on Monday, January 6th. Jefferies Financial Group lifted their price objective on Henry Schein from $77.00 to $80.00 and gave the stock a "hold" rating in a research report on Thursday, January 23rd. Piper Sandler reduced their target price on shares of 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 assumed coverage on shares of Henry Schein in a report on Friday, February 14th. They set an "equal weight" rating and a $80.00 price target for the company. Finally, UBS Group reduced their price objective on shares of Henry Schein from $83.00 to $80.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Henry Schein has an average rating of "Moderate Buy" and a consensus target price of $80.20.

Insider Activity

In other Henry Schein news, CEO Bradford C. Connett sold 4,036 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.15, for a total value of $287,161.40. Following the transaction, the chief executive officer now owns 62,688 shares in the company, valued at $4,460,251.20. The trade was a 6.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Philip A. Laskawy sold 2,604 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.04, for a total value of $184,988.16. Following the sale, the director now owns 24,805 shares of the company's stock, valued at $1,762,147.20. This represents a 9.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% 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.