Mizuho Securities analyst Steven Valiquette has maintained their neutral stance on PDCO stock, giving a Hold rating on March 4.
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Steven Valiquette has given his Hold rating due to a combination of factors impacting Patterson Companies. The company reported weaker-than-expected financial results in its most recent quarter, with adjusted earnings per share falling short of both market and internal estimates. This underperformance was largely attributed to a significant decline in dental sales, which were the worst since the post-Covid era, and challenges in the digital and CAD/CAM categories.
Additionally, the pending acquisition by Patient Square may have contributed to some organizational distraction, although management maintained focus on strategic execution. The Animal Health segment also showed deceleration in sales growth, further influencing the overall outlook. Despite these challenges, the proposed acquisition is expected to close at the agreed price, which aligns with the current price target, justifying the Hold rating.
In another report released on March 4, Morgan Stanley also maintained a Hold rating on the stock with a $31.35 price target.