Patterson Companies falls on cutting FY24 profit forecast

Patterson Companies

29/11/2023 14:14

** Shares of Patterson Companies  PDCO.O  fall 12.4% to
$27.5 premarket     
    ** Dental and animal health supplies maker cuts FY24 adj EPS
forecast to $2.35-$2.45 from previous estimate of $2.45-$2.55 
    ** PDCO's Q2 EPS of 50 cents misses Wall Street estimates of
58 cents - LSEG 
    ** Co's Q2 revenue of $1.65 bln misses estimates of $1.70
bln
    ** Steady patient traffic supported strong performance in
dental consumables portfolio, but that was offset by lower sales
in certain dental equipment categories - PDCO
    ** Two of 13 brokerages rate the stock "buy" or higher, 11
"hold"; their median PT is $34.5
    ** Up to Tuesday's close, stock up ~12% this year

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))