Company Update: Patterson Companies, Inc. (NASDAQ:PDCO)

[Business Wire] Patterson Companies, Inc. (NASDAQ:PDCO) (TREND ANALYSIS) reported that consolidated sales totaled $1.1 billion in its fiscal second quarter ended October 25, 2014, an increase of 10.5 percent from $998.8 million in the year-earlier period. Organic sales were up more than 7 percent, after excluding the incremental impact of the National Veterinary Services Limited (NVS) acquisition and the Medical unit restructuring, which both occurred in the prior fiscal year. Net income increased to $53.8 million, from adjusted net income of $48.7 million in the year-ago period. Fiscal 2015 second quarter earnings per diluted share was $0.54, up 12.5 percent from adjusted earnings per diluted share of $0.48, in the year-ago period.

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There are currently six analysts that we track that cover the stock. Of those six, one has a Buy rating and five have a Hold rating. On a consensus basis this yields a score of 2.17 and a Hold. The combined price objective of these covering analysts is $42.17, which represents a 0.01% upside difference to the last closing price.

The most recent analyst activity consisted of ZacksReiterating their neutral stance on the company. Zacks has a price target of $44.00 which represents a downside of 4.34% from the last closing price. On the date of the report, the stock closed at $ 41.17.

Another research firm weighing in recently was JPMorgan Chase & Co who also Reiterated their rating on the stock. On October 02nd JPMorgan Chase & Co upgraded their price target on the stock from $41.00 to $44.00, or a 4.34% upside to the current price. On the day of the report, PDCOshares closed at $ 41.52.

Company Profile

Patterson Companies, Inc. (NASDAQ:PDCO) distributes dental, veterinary, and rehabilitation supplies. Its Dental Supply segment offers consumable dental supplies, such as X-ray films and solutions; impression and restorative materials; hand instruments; sterilization and infection control products; anesthetics; paper, cotton, and disposable products; toothbrushes; dental accessories; printed office products, office filing supplies, and practice management systems; radiography equipment, hand pieces, dental chairs and hand piece control units, diagnostic equipment, sterilizers, dental lights and compressors, chair-side restoration systems, digital imaging products, and inter-oral cameras. This segment also develops and markets software for scheduling, billing, charting, and capturing/storing/retrieving digital images; and provides hardware and networking solutions, patient education products and services, software services, dental office layout and design services, and equipment financing, as well as equipment installation, repair, and maintenance services.

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