Patterson Companies (PDCO) Seeing Pre-Pandemic Dental and Health Volumes, Piper Sandler Reiterates Overweight Ahead of Earnings

Piper Sandler analyst Jason Bednar reiterated an Overweight rating and $41.00 price target on Patterson Companies (NASDAQ: PDCO) after hosting the executive team for an investor call that offered validation that the real-time demand dynamics for dental and animal health remain resilient despite the Delta wave and that management is successfully navigating a fluid cost environment to still expand OM% in FY’22.

The analyst stated "We hosted PDCO management (CEO, CFO, Presidents of Dental and Animal Health) last week for a one-hour call with investors, and the team pointed to favorable trends across its dental and animal health end markets, including dental volumes that are largely back to pre-pandemic levels and secular trends that are supporting stronger animal health growth today vs. prior to the pandemic. For dental in particular, PDCO remains a share taker, particularly in private practices and the fast-growing regional DSO channel. This commentary regarding dental market resilience and continued strength in animal health fits well with other recent channel checks we’ve completed, including our recent meetings with the management teams of XRAY and NVST the past few weeks."

For an analyst ratings summary and ratings history on Patterson Companies click here. For more ratings news on Patterson Companies click here.

Shares of Patterson Companies closed at $32.72 yesterday.

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