Patterson Companies Inc.NASDAQ
Tue, Nov. 22, 6:57 PM
- Patterson Companies (NASDAQ:PDCO) plunged to a new 52-week low before settling 17% lower after missing Q2 earnings expectations, cutting 2017 guidance and failing to announce an expected distribution deal with Amazon.com.
- PDCO now sees FY 2017 EPS of $2.25-$2.35, vs. an earlier outlook of $2.60-$2.70 and well below the $2.64 analyst consensus estimate, citing softness in the U.S. dental market and challenges with branded pharma companies in the animal health business.
- Although PDCO did not announce a distribution agreement with Amazon, Baird analyst Jeff Johnson still thinks the deal will happen even though he has some misgivings, saying it would cut PDCO’s distribution costs and additional wiggle room to pursue DSO deals but also serve as a stark admission that the others are good at the company’s core business and would weigh on other firms such as Henry Schein (NASDAQ:HSIC).
Tue, Nov. 22, 12:48 PM
Tue, Nov. 22, 9:17 AM
Tue, Nov. 22, 8:25 AM
- Patterson Companies (NASDAQ:PDCO) fiscal Q2 results ($M): Net Sales: 1,418.2 (+2.1%); Dental: 601.6 (0%); Animal Health: 807.1 (+4.2%).
- Net Income: 45.8 (+29.4%); Non-GAAP Net Income: 53.5 (-47.7%); EPS: 0.48 (+33.3%); Non-GAAP EPS: 0.56 (-47.2%); Cash Flow Ops (6 mo.): (55.3) (-4.3%).
- Consensus view was non-GAAP EPS of $0.60 on revenues of $1.4B.
- Fiscal 2017 Guidance: EPS: $1.65 - 1.75; Non-GAAP EPS: $2.25 - 2.35.
- Chairman Scott Anderson says, "We believe that we are making the right strategic moves to build sustainable growth platforms in our two fundamentally strong and changing markets. But we, along with other in our industry, have seen softness in the U.S. dental market and challenges with branded pharmaceutical companies in our animal health business." He also adds that the company will realign its dental sales force in order to enhance its effectiveness.
- Shares are down 14% premarket on light volume.
Tue, Nov. 22, 7:02 AM
Mon, Nov. 21, 5:30 PM
Tue, Oct. 11, 1:31 PM
- Patterson (NASDAQ:PDCO) announced that Heartland Dental, the largest dental support organization (DSO) in the U.S., has selected Patterson Dental as its distribution partner effective January 1, 2017.
- “Patterson Dental has focused on growth by building a leadership position around the combination of superior sales, service, support and technology applications that we believe will be increasingly compelling to the full dental market,” said Scott Anderson, chairman, president and chief executive officer of Patterson Companies. “We are excited to partner with a leader such as Heartland Dental that shares our values and the desire to bring best-in-class products and solutions to the dentists and teams they support.”
- Added Patrick Bauer, President and CEO of Heartland Dental. “After a thorough process, we selected Patterson Dental because of their history of market-leading service, which dovetails with our experience in the evolving DSO space. Our partnership will benefit from Patterson’s expertise in logistics, technical service, ecommerce and technology, which enables our commitment to mutual growth.”
- Source: Press Release
Tue, Sep. 13, 4:09 PM
Thu, Aug. 25, 7:01 AM
Wed, Aug. 24, 5:30 PM
Fri, Jul. 22, 10:31 AM
- Patterson (PDCO +0.2%) announced the appointment of Todd Marshall as Chief Marketing and Digital Officer. He will assume his role in August. Prior to this, Marshall served as a Senior Vice President of marketing at Target Corporation.
- “As we continue to grow and find new opportunities for Patterson, we recognized the importance of establishing a senior marketing executive role to expand our capabilities around the customer experience, including e-commerce and digital marketing,” said Scott Anderson, Chairman, President and CEO of Patterson Companies. “Todd is an exceptional, innovative leader with a track record of success in using insights and analytics to drive marketing and customer experience strategies.”
Tue, Jun. 14, 4:28 PM
- Patterson (NASDAQ:PDCO) declares $0.24/share quarterly dividend, in line with previous.
- Forward yield 1.98%
- Payable July 29; for shareholders of record July 15; ex-div July 13.
Fri, May 27, 4:56 PM
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- Ionis Pharmaceuticals (NASDAQ:IONS) downgraded to Market Perform from Outperform by BMO Capital Markets. Price target lowered to $26 (18% upside) from $55.
- Patterson Companies (NASDAQ:PDCO) downgraded to Hold from Buy by Evercore ISI. Price target lowered to $48.50 (0% upside) from $49.50.
- United Therapeutics (NASDAQ:UTHR) downgraded to Sell from Hold with a $114 (3% downside risk) price target by Argus Research.
- Boston Scientific (NYSE:BSX) downgraded to Neutral from Buy with a $24.20 (7% upside) price target by BTIG Research.
- Neovasc (NASDAQ:NVCN) downgraded to Neutral from Buy by Ladenburg Thalmann. Price target removed.
Thu, May 26, 7:04 AM
- Patterson (NASDAQ:PDCO): FQ4 EPS of $0.77 beats by $0.02.
- Revenue of $1.45B (+39.4% Y/Y) misses by $10M.
Wed, May 25, 5:30 PM
Mon, Mar. 28, 5:14 PM
- These are stocks rated Outperform by Credit Suisse in which the bank's price target differs greatly from Street consensus.
- Agios Pharmaceuticals (NASDAQ:AGIO) has a PT of $66 at CS vs. the Street at $52.40 and current price of $37.91. Autodesk (NASDAQ:ADSK) a $100 PT vs. the Street at $63.63 and current of $57.37. Box (NYSE:BOX) a $24 PT vs. the Street at $20.14 and current of $12.18.
- Caterpillar (NYSE:CAT) a PT of $72 vs. the Street at $64.61 and current $75.29. Dunkin' Brands (NASDAQ:DNKN) a $50 PT vs. the Street at $46.16 and current $45.32. Kellogg (NYSE:K) a $82 PT vs the Street at $76.47 and current $75.44.
- Manitowoc (NYSE:MTW) a $5.10 PT vs. the Street at $4.03 and current $4.37. Nationstar Mortgage (NYSE:NSM) a $19 PT vs. the Street at $14.19 and current $9.77. Patterson (NASDAQ:PDCO) a $55 PT vs. the Street at $50.33 and current $44.66.
- Sysco (NYSE:SYY) a $50 PT vs. the Street at $43.18 and current $46.24. U.S. Steel (NYSE:X) a $22 PT vs. the Street at $10.97 and current $15.78.
- Of this group, Box, Inc. in the only one with a majority-Buy rating. Not surprisingly, CS has higher earnings estimates than consensus for both this year and next.