PATTERSON COMPANIES, INC. (PDCO) Jun 2024 Earnings Report
Patterson Companies, Inc.: Investment Report
Overview
Patterson Companies, Inc. is a leading distributor of dental and animal health products in the United States, the United Kingdom, and Canada. With a market capitalization of $2.12 billion, the company operates through three segments: Dental, Animal Health, and Corporate. As a dominant player in the healthcare industry, Patterson Companies has a significant presence in the dental and animal health markets, making it an attractive investment opportunity. This report provides an in-depth analysis of the company's financial performance, growth prospects, and recent news and updates to help investors make informed decisions.
Core Metrics
- Current price: $24.14
- 52-week high: $34.53
- 52-week low: $22.29
- Market Cap: $2.12 billion
- P/E Ratio: 12.19
- Earnings per Share: $1.98
- 50-day average: $24.94
- 200-day average: $27.90
- Analyst Recommendations: Hold (10 analysts)
Financial Performance
Patterson Companies reported fourth-quarter fiscal 2024 adjusted earnings per share (EPS) of $0.82, missing the Zacks Consensus Estimate of $0.83 by 1.2%. The bottom line also declined 2% year-over-year. However, the company's revenue growth was 0.001%, indicating a sluggish market. Patterson Companies' gross margins stood at 0.21014, while its EBITDA margins were 0.05404. The company's operating cash flow was -$789,377,984, while its free cash flow was $158,968,368.
Growth Prospects
Despite the current challenges, Patterson Companies has growth prospects in the dental and animal health markets. The company's subsidiary, Patterson Dental Supply, Inc., recently announced new integrations available with DentalXChange, which is expected to boost insurance workflow. Additionally, the company's efforts to expand its product portfolio and strengthen its distribution network are expected to drive growth in the future.
News and Updates
Patterson Companies recently reported its fourth-quarter fiscal 2024 earnings, which missed estimates. Piper Sandler analyst Jason Bednar maintained a Hold rating on the company, setting a price target of $28.00. The company's subsidiary, Patterson Dental Supply, Inc., announced new integrations available with DentalXChange, which is expected to boost insurance workflow.
Upgrades and Downgrades
According to recent analyst recommendations, Morgan Stanley reaffirmed its Equal-Weight rating on Patterson Companies, while JP Morgan maintained a Neutral rating. Piper Sandler analyst Jason Bednar also maintained a Hold rating on the company, setting a price target of $28.00.
Summary
In conclusion, Patterson Companies, Inc. is a leading distributor of dental and animal health products with a strong presence in the healthcare industry. While the company's recent earnings report was disappointing, its growth prospects in the dental and animal health markets are promising. With a Hold rating from most analysts, investors should exercise caution and monitor the company's performance closely before making any investment decisions.
Disclosures
The information on this website should not be construed as or relied upon in any manner as investment, legal, tax, or other advice. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. Any projections, estimates, forecasts, targets, prospects and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Any charts provided here or on other content distribution outlets are for informational purposes only, and should not be relied upon when making any investment decision. Under no circumstances should any information provided on this website or social media platforms be construed as an offer soliciting the purchase or sale of any security, nor should it be construed as an offer to provide investment advisory services.