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Fly News Breaks for October 16, 2019
HSIC, PDCO
Oct 16, 2019 | 14:57 EDT
Baird analyst Jeff Johnson maintained a Neutral rating on Henry Schein (HSIC) and Patterson Companies (PDCO) following the FTC's Initial Decision regarding anti-trust claims against the two companies and Benco Dental. Johnson said that while the headlines appear "slightly more positive" for Henry Schein than Patterson, he does not anticipate any financial impact even to Patterson from the FTC's findings. As such, the analyst believes the ruling removes a "modest overhang" on each company, though he kept Neutral ratings on both names given ongoing secular dental market uncertainties.
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