Piper Jaffray analyst Kevin Ellich bumped his price target on Henry Schein (NASDAQ: HSIC) to $159.00 (from $158.00) following solid Q4 results but maintained a Neutral rating.

Ellich commented, "Solid Q4 results were driven by 6.5% internal growth, the highest quarterly mark in 8 years, as well as double digit medical revenue growth and ~7% internal dental growth. While some concerns exist about the macro-economic environment, which is correlated with dental industry performance, HSIC reaffirmed FY16 adjusted EPS guidance of $6.55 to $6.65 and indicated that dental trends remain positive. We believe HSIC is well positioned to take advantage of positive industry trends in all of its segments and the animal health business should return to mid-to-high single digit growth as it annualized the diagnostic manufacturer change this quarter. We maintain our Neutral primarily due to valuation and we bumped our PT to $159 (from $158)."

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Shares of Henry Schein closed at $156.75 yesterday.