Patterson Companies (PDCO) is Resumed by BofA/Merrill to Underperform, Price Target at $44

Patterson Companies (PDCO) was Resumed by BofA/Merrill to “Underperform” and the brokerage firm has set the Price Target at $44. BofA/Merrill advised their investors in a research report released on Aug 24, 2016.

On the company’s financial health, Patterson Companies reported $0.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 26, 2016. Analyst had a consensus of $0.75. The company had revenue of $1453.70 million for the quarter, compared to analysts expectations of $1464.59 million. The company’s revenue was up 40.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Patterson Companies closed down -0.17 points or -0.36% at $46.75 with 14,30,572 shares getting traded on Tuesday. Post opening the session at $47.15, the shares hit an intraday low of $46.75 and an intraday high of $47.586 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 1, 2016, Ann B Gugino (Vice President & CFO) sold 750 shares at $48.86 per share price. According to the SEC, on Sep 25, 2015, James W Wiltz (director) sold 5,000 shares at $45.14 per share price. On Sep 25, 2015, Jerome E Thygesen (Vice President) sold 3,760 shares at $45.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Patterson Companies Inc. is a distributor serving the dental veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply veterinary supply and rehabilitation supply. The Company’s dental supply segment provides consumable products (including x-ray film restorative materials hand instruments and sterilization products); basic and advanced technology dental equipment; practice management and clinical software; patient education systems and office forms and stationery. The Company’s veterinary supply segment distributes veterinary supplies to companion-pet (dogs cats and other common household pets) equine and large animal veterinarians and veterinary clinics public and private institutions and shelters across the United States and in the United Kingdom. The rehabilitation supply segment distributes rehabilitation medical supplies and equipment.

Patterson Companies

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