Goldman Sachs Lowers Price Target On Patterson Companies (PDCO)

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Goldman Sachs lowered its price target on Neutral-rated Patterson Companies (NASDAQ: PDCO) from $31 to $29 following weak Q1 results and a tempered outlook.

Dental consumable sales were softened by economic sluggishness in the quarter, the firm notes. However, the company expects the consumable market to slowly recover over time. The the Rehab segment was buffeted by regulatory issues and the effects of UK austerity measures. Double-digit growth in high tech equipment was the one bright spot.

For more ratings news on Patterson Companies click here and for the rating history of Patterson Companies click here.

Shares of Patterson Companies closed at $26.87 yesterday, with a 52 week range of $24.88-$36.93.

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