Stock Price Trends

Henry Schein Inc (HSIC)

Henry Schein, Inc. is an American distributor of health care products and services with a presence in 32 countries.

Stock Price Trends

Stock price trends estimated using linear regression.

Key facts

  • The primary trend is decreasing.
  • The decline rate of the primary trend is 2.42% per annum.
  • HSIC price at the close of May 17, 2024 was $74.60 and was inside the primary price channel.
  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 9.93% per annum.
  • HSIC price at the close of May 17, 2024 was inside the secondary price channel.

Linear Regression Model

Model equation:
Yi = α + β × Xi + εi

Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)

Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)

where:

i - observation number
Yi - natural logarithm of HSIC price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e


Primary Trend

Start date: May 4, 2021
End date: May 17, 2024

a = 4.4283

b = -0.0001

s = 0.0631

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0001) – 1
= -2.42%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0631) – 1
= 28.69%

May 4, 2021 calculations

Top border of price channel:

Exp(Y493)
= Exp(a + b × X493 + 2 × s)
= Exp(a + b × 715 + 2 × s)
= Exp(4.4283 + -0.0001 × 715 + 2 × 0.0631)
= Exp(4.5065)
= $90.60

Bottom border of price channel:

Exp(Y493)
= Exp(a + b × X493 – 2 × s)
= Exp(a + b × 715 – 2 × s)
= Exp(4.4283 + -0.0001 × 715 – 2 × 0.0631)
= Exp(4.2543)
= $70.41

May 17, 2024 calculations

Top border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(4.4283 + -0.0001 × 1,824 + 2 × 0.0631)
= Exp(4.4321)
= $84.11

Bottom border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(4.4283 + -0.0001 × 1,824 – 2 × 0.0631)
= Exp(4.1799)
= $65.36

Description

  • The primary trend is decreasing.
  • The decline rate of the primary trend is 2.42% per annum.
  • HSIC price at the close of May 17, 2024 was $74.60 and was inside the primary price channel.

Secondary Trend

Start date: November 22, 2022
End date: May 17, 2024

a = 4.7793

b = -0.0003

s = 0.0480

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0003) – 1
= -9.93%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0480) – 1
= 21.16%

November 22, 2022 calculations

Top border of price channel:

Exp(Y886)
= Exp(a + b × X886 + 2 × s)
= Exp(a + b × 1,282 + 2 × s)
= Exp(4.7793 + -0.0003 × 1,282 + 2 × 0.0480)
= Exp(4.5080)
= $90.74

Bottom border of price channel:

Exp(Y886)
= Exp(a + b × X886 – 2 × s)
= Exp(a + b × 1,282 – 2 × s)
= Exp(4.7793 + -0.0003 × 1,282 – 2 × 0.0480)
= Exp(4.3160)
= $74.89

May 17, 2024 calculations

Top border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(4.7793 + -0.0003 × 1,824 + 2 × 0.0480)
= Exp(4.3527)
= $77.69

Bottom border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(4.7793 + -0.0003 × 1,824 – 2 × 0.0480)
= Exp(4.1607)
= $64.12

Description

  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 9.93% per annum.
  • HSIC price at the close of May 17, 2024 was inside the secondary price channel.