New Rating issued on Patterson Companies (PDCO): Initiated by Deutsche Bank to “Hold”

Patterson Companies (PDCO) was Initiated by Deutsche Bank to “Hold” and the brokerage firm has set the Price Target at $45. Deutsche Bank advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Deutsche Bank Initiated Patterson Companies on Mar 15, 2017 to “Hold”, Price Target of the shares are set at $45.Company shares were Upgraded by Robert W. Baird on Jan 3, 2017 to ” Outperform”, Firm has raised the Price Target to $ 47 from a previous price target of $38 .

Several company insiders have filed Insider transactions , on Mar 10, 2017, James W Wiltz (director) sold 5,000 shares at $44.52 per share price. According to the SEC, on Mar 10, 2017, David G Misiak (President, Patterson Dental) sold 301 shares at $45.57 per share price. On Mar 3, 2017, Ellen A Rudnick (director) sold 3,000 shares at $45.70 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, Patterson Companies reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 23, 2017. Analyst had a consensus of $0.57. The company had revenue of $1397.40 million for the quarter, compared to analysts expectations of $1423.66 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.68 EPS.

Patterson Companies opened for trading at $45.24 and hit $46.125 on the upside on Wednesday, eventually ending the session at $45.8, with a gain of 1.37% or 0.62 points. The heightened volatility saw the trading volume jump to 8,88,429 shares. Company has a market cap of $4,449 M.

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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