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PDCO

Patterson Companies

$47.51

1.02 (2.19%)

, XRAY

Dentsply Sirona

$59.88

-0.28 (-0.47%)

07:05
11/22/16
11/22
07:05
11/22/16
07:05

Patterson won't extend exclusive portion of Sirona relationship after Sep. 2017

Scott Anderson, chairman, president and CEO of Patterson (PDCO), said, "We are pleased with our dental equipment sales during the period, especially considering the difficult year-over-year comparable. Dental markets, overall, remained soft but relatively stable in the second quarter. After the end of the second quarter, Patterson Companies elected not to extend exclusivity with Sirona for its entire portfolio beyond September 2017. This decision is consistent with our strategy of serving the evolving needs of all our customers and will allow us to better serve the full range of practice models in the future. Importantly, it will also potentially enable more product innovation and bring more options to our customers by opening up our superior technology support infrastructure to more manufacturers, who view our expertise and support as a meaningful competitive advantage. We expect this move, along with our sales realignment activities taken earlier in fiscal 2017, to better position Patterson Dental to serve the evolving dental market. In no way does this decision change our commitment to our long-standing partnership with Sirona. Together, for the past 20 years, we have built the market for chair-side restoration technology in North America. We are very proud of our achievements together and intend to preserve our unwavering commitment to this important relationship. We look forward to helping Dentsply Sirona drive further innovation in the dental marketplace."

PDCO

Patterson Companies

$47.51

1.02 (2.19%)

XRAY

Dentsply Sirona

$59.88

-0.28 (-0.47%)

  • 22

    Nov

PDCO Patterson Companies
$47.51

1.02 (2.19%)

08/26/16
PIPR
08/26/16
NO CHANGE
PIPR
Dentsply Sirona should be bought on weakness, says Piper Jaffray
After Patterson Companies (PDCO) reported that dental consumables growth had decelerated to 0.9% last quarter, Piper Jaffray analyst Matt O'Brien notes that the company said that the category rebounded in August, while it anticipated further improvements in the business over the next 6-12 months. O'Brien adds that Dentsply Sirona (XRAY) should be helped by "solid domestic" macro trends, and he recommends that investors buy Dentsply Sirona on weakness.
10/05/16
UBSW
10/05/16
INITIATION
Target $48
UBSW
Neutral
Patterson Companies initiated with a Neutral at UBS
Target $48.
11/01/16
NRCS
11/01/16
NO CHANGE
NRCS
Amazon.com should partner with Patterson Companies, says Northcoast
Northcoast said Amazon.com (AMZN) has a strong interest in entering the dental market and has spent time and resources attempting to build relationships with manufacturers and distributors to gain product procurement, which so far has been unsuccessful. The firm's analyst said Patterson (PDCO) is aggressively trying to reinvent how dental distribution will occur in the future and is building a new IT backbone, making huge investments in technical service. Northcoast said Patterson is on a path to disrupt the industry and could accelerate this effort with a partnership with Amazon. The firm continues to view Patterson as undervalued, with out without Amazon, and recommends investors build positions at this time.
11/21/16
BARD
11/21/16
NO CHANGE
BARD
Outperform
Baird expects Amazon.com distribution announcement with Patterson
Following industry conversions, Baird analyst Jeff Johnson expects Patterson Companies (PDCO) to announce an Amazon.com (AMZN) distribution agreement tomorrow. What the analyst hadnt considered and is now hearing is that Amazon could fulfill orders placed through Patterson's order portal, lowering Patterson's fulfillment costs and given the company breathing room as it pursues DSO deals. Johnson rates Patterson a Neutral with a $48 price target.
XRAY Dentsply Sirona
$59.88

-0.28 (-0.47%)

09/22/16
JPMS
09/22/16
INITIATION
Target $65
JPMS
Neutral
Dentsply Sirona initiated with a Neutral at JPMorgan
JPMorgan analyst Tycho Peterson started Dentsply Sirona with a Neutral rating and $65 price target. The analyst cites the stock's "premium valuation" for his rating and recommends for a pullback in the shares.
09/22/16
09/22/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: Packaging Corp. (PKG) initiated with a Sell at Goldman. 2. Netlist (NLST) initiated with a Buy at B. Riley. 3. Weyerhaeuser (WY) initiated with a Conviction Buy at Goldman. 4. bluebird bio (BLUE) reinstated with a Buy at Roth Capital. 5. Dentsply Sirona (XRAY) initiated with a Neutral at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/01/16
MSCO
11/01/16
UPGRADE
MSCO
Overweight
Dentsply Sirona upgraded to Overweight from Equal Weight at Morgan Stanley
11/01/16
11/01/16
UPGRADE
Target $69

Overweight
Dentsply Sirona upgraded on growth, valuation at Morgan Stanley
As previously reported, Morgan Stanley upgraded Denstply Sirona to Overweight from Equal Weight and raised its price target to $69 from $65. Analyst Steve Beuchaw said Densply's relative valuation weakness positions the company for better performance despite negative dental market sentiment. He expects Dentsply's organic growth to accelerate in 2017 driven by digital dentistry adoption, a focus on commercial headcount, easing digital equipment comps, and revenue synergies. Beauchaw expects the company's double digit free cash flow growth potential to improve investor sentiment.

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