Northcoast analyst Ed Snyder lowered his estimates for Patterson Companies further below the consensus to reflect currency fluctuations and "soft" patient traffic. The analyst's new FY17 earnings per share estimate is $2.26, 7c below the consensus, and new FY18 estimate is $2.45, 5c below the Street. Upcoming commentary about market softness and business disruption could "mute" the stock's performance in the near-term, Snyder tells investors in a research note. He believes, however, that Patterson's longer-term outlook remains "very compelling." The analyst recommends waiting for consensus estimates to come down before taking positions in the name. He nonetheless keeps a Buy rating on the shares with a reduced price target of $50.