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PDCO

Patterson Companies

$32.92

-0.23 (-0.69%)

09:29
02/13/18
02/13
09:29
02/13/18
09:29

Patterson Companies denies allegations in FTC administrative complaint

Patterson Companies announced that the Federal Trade Commission has issued an administrative complaint against Patterson alleging an agreement with its competitors not to sell to "buying groups" in violation of federal antitrust laws. Patterson said, "The company believes that the allegations as described are meritless and intends to defend itself vigorously. The complaint seeks injunctive relief and does not seek monetary damages. The company does not anticipate that this matter will have a material adverse effect on our financial condition or results of operations. Patterson maintains the highest levels of integrity and ethical standards and has a 140 year history of partnering with all types of customers to grow their businesses and provide outstanding care to their clients."

  • 01

    Mar

PDCO Patterson Companies
$32.92

-0.23 (-0.69%)

12/20/17
NRCS
12/20/17
NO CHANGE
Target $53
NRCS
Buy
Patterson didn't really lose biggest veterinary customer, says Northcoast
Northcoast analyst Ed Snyder notes that competitor sell-side reports have suggested that Patterson Companies lost its biggest veterinary customer, The Veterinary Cooperative, which will now be serviced primarily by MWI Veterinary. However, TVC is a cooperative that negotiates price discounts and does not take inventory, meaning it is not a customer, explains Snyder. Rather than continuing to give TVC an additional price discount, Patterson is choosing to reinvest those dollars in its own loyalty program, said Snyder, who contends that competitor research "misrepresent the facts and therefore overstate the risk." He maintains a Buy rating and $53 price target on Patterson shares.
01/04/18
EVER
01/04/18
INITIATION
Target $38.5
EVER
In Line
Patterson Companies initiated with an In Line at Evercore ISI
Evercore ISI started Patterson Companies with an In Line rating and $38.50 price target.
02/13/18
LEER
02/13/18
NO CHANGE
LEER
Market Perform
FTC suit could result in longer-term margin headwinds for Henry Schein, says Leerink
Leerink analyst David Larsen notes that the FTC announced a lawsuit against Henry Schein (HSIC), Patterson (PDCO), and Benco for antitrust pricing behavior. The analyst views this news as being "very serious," and could result in longer-term margin headwinds and multiple compression for Henry Schein. He reiterates a Market Perform on Henry Schein's shares.
02/13/18
WBLR
02/13/18
NO CHANGE
WBLR
William Blair sees FTC suit pressuring Henry Schein, Patterson shares
The Federal Trade Commission yesterday announced it was filing an antitrust suit against Henry Schein (HSIC), Patterson Companies (PDCO), and Benco, the three largest dental distributors in the United States, William Blair analyst John Kreger tells investors in a research note. The analyst says that while this is not the first time anti-competitive allegations have been made against the companies, the FTC complaint will likely "add credence to the antitrust argument, increase the visibility of the risk, and exacerbate investor concerns about the sustainability of pricing and margins." Kreger believes this could put further pressure on the valuations of Henry Schein and Patterson in the near term, particularly until there is some clear evidence of a spending rebound in dental. He has an Outperform rating on Henry Schein and Market Perform rating on Patterson.

TODAY'S FREE FLY STORIES

TSLA

Tesla

$347.49

-14.69 (-4.06%)

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TELNY

Telenor

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KMX

CarMax

$71.05

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$0.00

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AAPL

Apple

$185.48

-1.06 (-0.57%)

, QCOM

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$58.76

-0.03 (-0.05%)

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$185.48

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$58.76

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Credit Suisse

$15.01

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XRX

Xerox

$26.45

-0.8 (-2.94%)

, FUJIY

Fujifilm

$0.00

(0.00%)

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XRX

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$26.45

-0.8 (-2.94%)

FUJIY

Fujifilm

$0.00

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EADSY

Airbus

$0.00

(0.00%)

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TNDM

TNDM

, MDT

Medtronic

$86.29

0.11 (0.13%)

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MDT

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$86.29

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RHT

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$165.62

-3.64 (-2.15%)

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$152.08

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SPLK

Splunk

$113.06

-2.8 (-2.42%)

SGH

Smart Global

$39.79

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TCS

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$8.73

0.08 (0.92%)

LRCX

Lam Research

$176.01

1.54 (0.88%)

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BDRBF

Bombardier

$0.00

(0.00%)

, ERJ

Embraer

$25.48

-0.2 (-0.78%)

18:53
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BDRBF

Bombardier

$0.00

(0.00%)

ERJ

Embraer

$25.48

-0.2 (-0.78%)

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WOW

WideOpenWest

$9.44

-0.2497 (-2.58%)

18:37
06/21/18
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CABO

Cable One

$716.20

-2.81 (-0.39%)

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FOXA

21st Century Fox

$48.34

0.24 (0.50%)

, DIS

Disney

$105.89

-1.39 (-1.30%)

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21st Century Fox

$48.34

0.24 (0.50%)

DIS

Disney

$105.89

-1.39 (-1.30%)

CMCSA

Comcast

$32.80

-0.595 (-1.78%)

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MDT

Medtronic

$86.29

0.11 (0.13%)

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AEO

American Eagle

$25.27

0.615 (2.49%)

18:23
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GOOG

Alphabet

$1,157.63

-11.75 (-1.00%)

, GOOGL

Alphabet Class A

$1,169.56

-14.27 (-1.21%)

18:19
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GOOG

Alphabet

$1,157.63

-11.75 (-1.00%)

GOOGL

Alphabet Class A

$1,169.56

-14.27 (-1.21%)

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  • 28

    Oct

NMR

Nomura

$4.85

-0.075 (-1.52%)

18:09
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GLD

SPDR Gold Trust

$120.06

-0.2 (-0.17%)

18:02
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WFC

Wells Fargo

$54.37

-0.13 (-0.24%)

17:50
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Periodicals
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  • 13

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FOXA

21st Century Fox

$48.34

0.24 (0.50%)

, DIS

Disney

$105.89

-1.39 (-1.30%)

17:47
06/21/18
06/21
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17:47
Periodicals
Breaking Periodicals news story on 21st Century Fox, Disney, Comcast »

Disney to double asset…

FOXA

21st Century Fox

$48.34

0.24 (0.50%)

DIS

Disney

$105.89

-1.39 (-1.30%)

CMCSA

Comcast

$32.80

-0.595 (-1.78%)

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ENTA

Enanta

$118.81

3.54 (3.07%)

17:45
06/21/18
06/21
17:45
06/21/18
17:45
Conference/Events
Enanta management to meet with Oppenheimer »

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  • 21

    Jun

TNTR

Tintri

$0.20

0.0369 (22.38%)

17:32
06/21/18
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Tintri receives Nasdaq noncompliance notice from 10-Q filing delay »

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CUE

Cue Biopharma

$12.41

0.18 (1.47%)

17:25
06/21/18
06/21
17:25
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17:25
Syndicate
Breaking Syndicate news story on Cue Biopharma »

Cue Biopharma files to…

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