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XRAY

Dentsply Sirona

$59.88

-0.28 (-0.47%)

, PDCO

Patterson Companies

$47.51

1.02 (2.19%)

09:25
11/22/16
11/22
09:25
11/22/16
09:25

Patterson cancellation a positive for Dentsply, says Piper Jaffray

Piper Jaffray analyst Matt O'Brien believes Patterson Companies (PDCO) cancelling its exclusive selling agreement with legacy Sirona products beyond September 2017 as positive for Dentsply Sirona (XRAY). The move is unsurprising given the changing industry dynamics, O'Brien tells investors in a research note. He points out that the initial exclusive agreement was established in 1998. Assuming Henry Schein (HSIC) starts selling legacy Sirona equipment, the cancellation is a positive for Dentsply as this will ultimately allow the company to increase cross-selling opportunities with those customers, O'Brien argues. He's been calling for a cancellation of the exclusive selling agreement with Patterson saying Dentsply has been adamant about realizing sales synergies through increased cross-selling opportunities. The analyst reiterates an Overweight rating on Dentsply with a $70 price target. Patterson in pre-market trading is down 17% to $39.20 after reporting a decline in North American dental consumables sales of 2.5%. Dentsply shares are down 2% to $58.40.

XRAY

Dentsply Sirona

$59.88

-0.28 (-0.47%)

PDCO

Patterson Companies

$47.51

1.02 (2.19%)

HSIC

Henry Schein

$148.55

-8.41 (-5.36%)

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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
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.
11/01/16
MSCO
11/01/16
UPGRADE
MSCO
Overweight
Dentsply Sirona upgraded to Overweight from Equal Weight at Morgan Stanley
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.
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.
10/05/16
UBSW
10/05/16
INITIATION
Target $48
UBSW
Neutral
Patterson Companies initiated with a Neutral at UBS
Target $48.
HSIC Henry Schein
$148.55

-8.41 (-5.36%)

10/14/16
BARD
10/14/16
DOWNGRADE
BARD
Neutral
Henry Schein downgraded to Neutral from Outperform at Baird
10/05/16
UBSW
10/05/16
INITIATION
Target $186
UBSW
Buy
Henry Schein initiated with a Buy at UBS
Target $186.
09/12/16
BOFA
09/12/16
INITIATION
Target $185
BOFA
Buy
Henry Schein reinitiated with a Buy at BofA/Merrill
BofA/Merrill analyst Steven Valiquette reinstated coverage on Henry Schein with a Buy and $185 price target. The analyst expects growth to accelerate in 2H 2016 and recommends taking advantage of recent share weakness.
10/11/16
GSCO
10/11/16
UPGRADE
Target $185
GSCO
Buy
Henry Schein upgraded to Buy from Neutral at Goldman
Goldman Sachs analyst Robert Jones upgraded Henry Schein to Buy saying the 9% pullback since the Q2 results has put the shares below their five-year historical premium to the S&P 500. The analyst views the company as a "high-quality, consistent EPS grower." He upped his price target for Henry Schein shares to $185 from $157.

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