Latest Stocks: Zacks Investment Research Downgrades Henry Schein, Inc. (HSIC) to Hold

Latest Stocks: Zacks Investment Research Downgrades Henry Schein, Inc. (HSIC) to Hold

Zacks Investment Research lowered shares of Henry Schein, Inc. (NASDAQ:HSIC) from a buy rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “Since Henry Schein delivered better-than-expected first-quarter 2017 performance a month back, the company has consistently outperformed the broader Medical/Dental Supplies industry at large with respect to share price movement. Apart from balanced segmental growth across all its operating segments, the company’s share gains in both the U.S. and overseas markets raise optimism. Management is also upbeat about several strategic tie ups made during the reported quarter. We keenly await Henry Schein’s impending buyouts of Marrodent and SAS to capture the bountiful dental market opportunities. On the flip side despite a strong quarterly show, the company’s unchanged EPS guidance for 2017 is uninspiring. Meanwhile, the year-over-year decline in Henry Schein’s margins was due to higher cost of sales and expenses. Also, foreign currency fluctuations continued to mar the company’s financials.”

A number of other brokerages have also issued reports on HSIC. Deutsche Bank AG started coverage on Henry Schein in a research report on Wednesday, March 15th. They set a hold rating and a $174.00 price target for the company. Evercore ISI boosted their price target on Henry Schein from $160.00 to $178.00 and gave the stock a hold rating in a research report on Tuesday, February 21st. Leerink Swann set a $183.00 price target on Henry Schein and gave the stock a hold rating in a research report on Wednesday, February 22nd. Stifel Nicolaus boosted their price target on Henry Schein from $174.00 to $178.00 and gave the stock a hold rating in a research report on Wednesday, May 10th. Finally, Craig Hallum started coverage on Henry Schein in a research report on Tuesday, April 11th. They set a hold rating for the company. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Henry Schein presently has a consensus rating of Hold and an average price target of $182.75.

A number of other brokerages have also issued reports on HSIC. Deutsche Bank AG started coverage on Henry Schein in a research report on Wednesday, March 15th. They set a hold rating and a $174.00 price target for the company. Evercore ISI boosted their price target on Henry Schein from $160.00 to $178.00 and gave the stock a hold rating in a research report on Tuesday, February 21st. Leerink Swann set a $183.00 price target on Henry Schein and gave the stock a hold rating in a research report on Wednesday, February 22nd. Stifel Nicolaus boosted their price target on Henry Schein from $174.00 to $178.00 and gave the stock a hold rating in a research report on Wednesday, May 10th. Finally, Craig Hallum started coverage on Henry Schein in a research report on Tuesday, April 11th. They set a hold rating for the company. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Henry Schein presently has a consensus rating of Hold and an average price target of $182.75. Shares of Henry Schein (NASDAQ HSIC) opened at 185.21 on Wednesday. Henry Schein has a one year low of $146.23 and a one year high of $186.71. The company’s 50 day moving average price is $176.66 and its 200 day moving average price is $165.76. The firm has a market capitalization of $14.69 billion, a P/E ratio of 28.15 and a beta of 1.02.

In other news, EVP Mark E. Mlotek sold 5,559 shares of the company’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $170.98, for a total value of $950,477.82. Following the completion of the sale, the executive vice president now owns 40,426 shares in the company, valued at $6,912,037.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Philip A. Laskawy sold 1,103 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $171.51, for a total value of $189,175.53. Following the completion of the sale, the director now owns 13,872 shares of the company’s stock, valued at approximately $2,379,186.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,061 shares of company stock valued at $8,461,730. Insiders own 1.27% of the company’s stock. Several hedge funds have recently made changes to their positions in the stock. SpiderRock Advisors LLC purchased a new stake in shares of Henry Schein during the first quarter valued at $102,000. Sphera Funds Management LTD. purchased a new stake in shares of Henry Schein during the third quarter valued at $163,000. JNBA Financial Advisors purchased a new stake in shares of Henry Schein during the first quarter valued at $170,000. Westside Investment Management Inc. purchased a new stake in shares of Henry Schein during the first quarter valued at $168,000. Finally, Van ECK Associates Corp raised its stake in shares of Henry Schein by 8.0% in the fourth quarter. Van ECK Associates Corp now owns 1,077 shares of the company’s stock valued at $163,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 90.91% of the company’s stock.

Get a free copy of the Zacks research report on Henry Schein (HSIC) For more information about research offerings from Zacks Investment Research, visit Zacks.com

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