Sprucegrove Investment Management Ltd. increased its stake in shares of Henry Schein, Inc. (NASDAQ:HSIC) by 13.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,155,042 shares of the company’s stock after acquiring an additional 134,858 shares during the period. Henry Schein comprises 2.0% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 19th largest position. Sprucegrove Investment Management Ltd. owned approximately 0.82% of Henry Schein worth $79,975,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale lifted its position in Henry Schein by 19.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 403,194 shares of the company’s stock worth $26,501,000 after buying an additional 64,945 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Henry Schein by 10.7% in the 4th quarter. Toronto Dominion Bank now owns 89,142 shares of the company’s stock valued at $5,960,000 after purchasing an additional 8,650 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Henry Schein by 85.4% in the 4th quarter. Glenmede Trust Co. NA now owns 30,455 shares of the company’s stock valued at $2,035,000 after purchasing an additional 14,027 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Henry Schein during the 4th quarter valued at approximately $251,000. Finally, Bank of Nova Scotia increased its position in Henry Schein by 12.9% during the 1st quarter. Bank of Nova Scotia now owns 27,156 shares of the company’s stock worth $1,880,000 after purchasing an additional 3,100 shares during the period. 93.16% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:HSIC traded up $0.13 during mid-day trading on Friday, reaching $78.71. The stock had a trading volume of 1,347 shares, compared to its average volume of 1,009,814. The stock has a market cap of $11.07 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.71 and a beta of 0.89. Henry Schein, Inc. has a 1-year low of $54.25 and a 1-year high of $83.45. The business has a 50 day simple moving average of $75.21. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 0.13.
Henry Schein declared that its Board of Directors has initiated a share buyback program on Thursday, May 13th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other Henry Schein news, EVP Gerald A. Benjamin sold 7,227 shares of the firm’s stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $82.08, for a total value of $593,192.16. Following the transaction, the executive vice president now owns 114,587 shares of the company’s stock, valued at $9,405,300.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark E. Mlotek sold 13,296 shares of the firm’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $83.02, for a total transaction of $1,103,833.92. Following the completion of the transaction, the executive vice president now directly owns 112,459 shares in the company, valued at approximately $9,336,346.18. The disclosure for this sale can be found here. Insiders sold 72,895 shares of company stock valued at $5,870,832 over the last quarter. Insiders own 0.93% of the company’s stock.
A number of research analysts have weighed in on the company. Barrington Research increased their price target on Henry Schein from $80.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 5th. Robert W. Baird increased their price target on Henry Schein from $79.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 5th. They noted that the move was a valuation call. Zacks Investment Research lowered Henry Schein from a “buy” rating to a “hold” rating and set a $77.00 price target on the stock. in a research note on Friday, April 30th. TheStreet raised Henry Schein from a “c+” rating to a “b-” rating in a research note on Tuesday, May 18th. Finally, Piper Sandler increased their price target on Henry Schein from $79.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 4th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $86.75.
About Henry Schein
Henry Schein, Inc provides health care products and services to dental practitioners and laboratories, physician practices, government, institutional health care clinics, and other alternate care clinics worldwide. It operates in two segments, Health Care Distribution, and Technology and Value-Added Services.
Read More: Why do analysts give a neutral rating?
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