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PDCO

Patterson Companies

$17.42

0.09 (0.52%)

, HSIC

Henry Schein

$62.68

0.83 (1.34%)

11:55
10/16/19
10/16
11:55
10/16/19
11:55

Judge rules Patterson Companies violated U.S. antitrust laws in FTC complaint

Chief Administrative Law Judge D. Michael Chappell has held that two of three respondents named in a Federal Trade Commission complaint violated U.S. antitrust laws by conspiring to refuse to provide discounts to, or otherwise serve, buying groups representing dental practitioners. The FTC's February 2018 administrative complaint named the nation's three largest dental supply companies: Benco Dental Supply Company, Henry Schein (HSIC), and Patterson Companies (PDCO). As full-service dental distributors, these companies offer gloves, cements, sterilization products and a range of other consumable supplies, as well as equipment, such as dental chairs and lights. Collectively, the big three control more than 85% of all distributor sales of dental products and services nationwide. The U.S. market for dental products is valued at approximately $10B. Judge Chappell held that Benco and Patterson were part of the conspiracy, but Schein was not. Reference Link

PDCO

Patterson Companies

$17.42

0.09 (0.52%)

HSIC

Henry Schein

$62.68

0.83 (1.34%)

  • 08

    Nov

  • 12

    Dec

PDCO Patterson Companies
$17.42

0.09 (0.52%)

04/17/19
GUGG
04/17/19
INITIATION
GUGG
Neutral
Patterson Companies initiated with a Neutral at Guggenheim
Guggenheim analyst Glen Santangelo initiated Patterson Companies with a Neutral rating and a price target of $23. The analyst noted that "consensus expectations are low and valuation is somewhat compelling," but suggested caution due to the fairly new management team that is continuing to deal with "ongoing transitional issues and a difficult competitive landscape."
05/30/19
WOLF
05/30/19
INITIATION
Target $19
WOLF
Underperform
Patterson Companies initiated with an Underperform at Wolfe Research
Wolfe Research started Patterson Companies with an Underperform rating and $19 price target.
07/11/19
RAJA
07/11/19
NO CHANGE
RAJA
Death of drug rebate rule a win for PBMs and distributors, says Raymond James
After multiple media outlets, including Politico, reported that the Trump Administration has decided to withdraw the drug rebate rule, Raymond James analyst Chris Meekins called the news "a win" for pharmacy benefit managers and drug distributors and "a slight negative" for the pharmaceutical makers. The cost of the proposal to the government was ultimately too high with little guarantee that list prices would go down, said Meekins. However, President Trump hinted something "major" on drug pricing was coming over the next week during his kidney care speech and the analyst thinks the President is planning to move forward with an executive order on pricing. Publicly traded pharmaceutical distributors include McKesson (MCK), Cardinal Health (CAH), Amerisource (ABC) and Patterson (PDCO). Owners of pharmacy benefit managers include CVS Health (CVS), UnitedHealth (UNH), Anthem (ANTM) and Cigna (CI). Publicly traded large cap drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
08/30/19
LEHM
08/30/19
NO CHANGE
Target $16
LEHM
Underweight
Patterson Companies price target lowered to $16 from $20 at Barclays
Barclays analyst Steve Valiquette lowered his price target for Patterson Companies to $16 from $20 saying overall pricing in the company's markets may be compressing. The analyst keeps an Underweight rating on the shares following Patterson's fiscal Q1 results.
HSIC Henry Schein
$62.68

0.83 (1.34%)

05/15/19
05/15/19
DOWNGRADE
Target $70

Market Perform
Henry Schein downgraded to Market Perform on valuation at SVB Leerink
As previously reported, SVB Leerink analyst David Larsen downgraded Henry Schein to Market Perform from Outperform and lowered his price target on the shares to $70 from $75. While the analyst acknowledges that he still likes the company and believes its end-markets remain healthy, he notes that the stock has appreciated considerably and at current levels, he believes Henry Schein is fairly valued. Additionally, Larsen thinks the company may face more pressure from online retailers.
05/30/19
WOLF
05/30/19
INITIATION
Target $69
WOLF
Underperform
Henry Schein initiated with an Underperform at Wolfe Research
Wolfe Research initiated Henry Schein with an Underperform and $69 price target.
08/07/19
WBLR
08/07/19
DOWNGRADE
WBLR
Market Perform
Henry Schein downgraded to Market Perform from Outperform at William Blair
William Blair analyst John Kreger downgraded Henry Schein to Market Perform from Outperform following the company's Q2 results. The analyst believes the Henry Schein's macro environment remains challenging.
10/07/19
GUGG
10/07/19
DOWNGRADE
Target $200
GUGG
Neutral
Guggenheim downgrades Align Technology on rising competition, sinking sentiment
As previously reported, Guggenheim analyst Glen Santangelo downgraded Align Technology (ALGN) to Neutral from Buy with a price target of $200, down from $250. Santangelo now believes that competition is more aggressive than he originally anticipated after his proprietary channel checks suggested that the technical and service capabilities of the competition, while still "not nearly as good" as Align, may be evolving faster than expected. Many of the established dental companies - such as Dentsply Sirona (XRAY), 3M (MMM), Envista (NVST) and Henry Schein (HSIC) - are offering clear aligners at discounted prices and making a big push in this area, while the direct-to-consumer model has attracted significant attention in the wake of the recent SmileDirectClub (SDC) IPO, Santangelo stated. In all, his view is that sentiment on Align will likely remain challenged until investors fully understand the impact of the new competitive landscape, which may take until later in 2020.

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MO

Altria Group

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MRK

Merck

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FNV

Franco-Nevada

$99.27

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IBCP

Independent Bank

$22.47

0.09 (0.40%)

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NFLX

Netflix

$302.89

0.22 (0.07%)

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Disney

$148.62

0.97 (0.66%)

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Survey finds Netflix cancelers blame price hikes, content for leaving, blog says »

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Netflix

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DIS

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AAPL

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CMCSA

Comcast

$44.69

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AUPH

Aurinia Pharmaceuticals

$5.92

0.17 (2.96%)

12:25
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Options
Aurinia Pharmaceuticals call volume above normal and directionally bullish »

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GOOG

Alphabet

$1,318.96

0.51 (0.04%)

, GOOGL

Alphabet Class A

$1,318.08

-2.09 (-0.16%)

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GOOG

Alphabet

$1,318.96

0.51 (0.04%)

GOOGL

Alphabet Class A

$1,318.08

-2.09 (-0.16%)

FB

Facebook

$199.25

1.8 (0.91%)

AMZN

Amazon.com

$1,753.39

0.69 (0.04%)

AAPL

Apple

$266.15

-0.88 (-0.33%)

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  • 19

    Nov

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    Nov

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
11/19/19
11/19
12:17
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12:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
11/19/19
11/19
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Technical Analysis
NYSE market internals summary »

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Z

Zillow

$38.77

-1.17 (-2.93%)

12:15
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Options
Zillow put volume heavy and directionally bearish »

Bearish flow noted in…

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MSFT

Microsoft

$151.08

0.73 (0.49%)

12:12
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Microsoft's Spencer says Xbox Scarlett aims to support Play Anywhere, IGN says »

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  • 20

    Nov

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    Dec

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    Dec

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$312.06

0.05 (0.02%)

12:10
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Periodicals
Trump threatens higher tariffs on China with no trade deal, CNBC reports »

President Trump, in…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$312.06

0.05 (0.02%)

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NVS

Novartis

$90.13

-0.15 (-0.17%)

12:06
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Novartis granted orphan status for PIK3CA-related overgrowth spectrum »

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  • 07

    Dec

SNE

Sony

$61.84

-0.575 (-0.92%)

12:05
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Options
Sony call volume above normal and directionally bullish »

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  • 09

    Dec

FB

Facebook

$199.41

1.96 (0.99%)

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  • 26

    Nov

BA

Boeing

$366.75

-2.75 (-0.74%)

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VWAGY

Volkswagen

$0.00

(0.00%)

12:03
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Periodicals
VW rejects anti-competitive claims in Prevent lawsuit, Reuters says »

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CRSP

Crispr Therapeutics

$65.35

6.83 (11.67%)

12:00
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  • 19

    Nov

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CTRA

Contura Energy

$7.43

-0.785 (-9.56%)

12:00
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KSS

Kohl's

$48.07

-10.32 (-17.67%)

12:00
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Hot Stocks
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  • 19

    Nov

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I

Intelsat

$6.45

-1.53 (-19.17%)

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  • 10

    Dec

WUBA

58.com

$56.87

6.61 (13.15%)

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  • 19

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BA

Boeing

$371.81

2.31 (0.63%)

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NSCO

Nesco Holdings

$4.15

0.65 (18.57%)

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MYOV

Myovant Sciences

$12.47

6.45 (107.14%)

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  • 19

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