Patterson Companies Stock Up Following Latest Partnership Extension

Zacks2024-11-19

Patterson Companies, Inc.'s PDCO subsidiary, Patterson Dental Supply, Inc., recently announced an agreement in principle between Patterson and PDS Health to extend their relationship through the end ...

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We expect market sentiment on the stock to continue to remain positive around this announcement, too.Patterson Companies currently has a market capitalization of $1.84 billion. It has an earnings yield of 11.1%, higher than the industry’s 5.3%. In the last reported quarter, PDCO delivered a negative earnings surprise of 25%.In July, Patterson Companies’ Patterson Dental Supply announced a new Eaglesoft native integration with Pearl Second Opinion. The new integration within Eaglesoft Advanced Imaging adds Pearl Second Opinion real-time clinical detections directly to x-rays captured and presented in Eaglesoft.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","BK4084":"特种房地产投资信托","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","SG9999001440.SGD":"United Global Dividend Equity Fund A SGD Dist","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU2065732104.USD":"ALLSPRING (LUX) WF GLOBAL SMALL CAP EQUITY \"I\" (USD) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","PDCO":"帕特森","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","LU0162691827.USD":"BGF US BASIC VALUE \"A4\" INC","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","LU1880398554.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) INC","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","BK4529":"IDC概念","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU2324357040.USD":"HSBC GIF GLOBAL EQUITY SUSTAINABLE HEALTHCARE \"AC\" (USD) ACC","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","BK4175":"保健护理产品经销商","GMED":"Globus Medical Inc","LU0289739699.SGD":"AB INTERNATIONAL HEALTH CARE PORTFOLIO \"A\" (SGD) ACC","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","LU1261432733.SGD":"Fidelity World A-ACC-SGD","BK4585":"ETF&股票定投概念","BK4567":"ESG概念","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","COR":"CENCORA","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","IE0009354923.USD":"JANUS HENDERSON US VENTURE \"A2\" (USD) ACC","LU0058720904.USD":"联博国际健康护理基金A","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","CAH":"卡地纳健康","BK4082":"医疗保健设备","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD"},"translate_title":"帕特森公司在最新的合作伙伴关系延期后备货","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PDCO":1,"COR":1,"GMED":1,"CAH":0.9},"content_text":"Patterson Companies, Inc.'s PDCO subsidiary, Patterson Dental Supply, Inc., recently announced an agreement in principle between Patterson and PDS Health to extend their relationship through the end of 2027. The extension is expected to allow Patterson Companies to continue as the premier distributor for all merchandise, services, technology and core equipment across PDS Health’s network of more than 1,000 supported practices nationwide.\nPDS Health, earlier known as Pacific Dental Services, is a renowned dental and medical support organization that delivers services across the United States.\nThe latest announcement is expected to significantly boost Patterson Companies’ Dental business unit.\nLikely Trend of PDCO Stock Following the News\nFollowing the announcement on Nov. 13, shares of the company gained nearly 0.7% till yesterday.\nHistorically, the company has gained a high level of synergies from its various partnerships. We expect market sentiment on the stock to continue to remain positive around this announcement, too.\nPatterson Companies currently has a market capitalization of $1.84 billion. It has an earnings yield of 11.1%, higher than the industry’s 5.3%. In the last reported quarter, PDCO delivered a negative earnings surprise of 25%.\nSignificance of the Extension of Patterson Companies' Agreement\nPatterson Dental initially partnered with PDS Health to be its core technology provider, implementing 2D sensor technology. Later, it supported the pilot and execution of PDS Health’s same-day dentistry model with CAD/CAM. In 2020, the tie-up expanded to include merchandise, services and core equipment. The renewed agreement will likely enable Patterson Dental to continue to support PDS Health in advancing patient-centered care.\nPer PDCO's management, the latest expansion of the partnership is expected to provide new products, technology and services that streamline operations, optimize efficiency and maximize profitability.\nPDS Health's management believes that the agreement will likely accelerate its journey toward enhancing patient care via technology, quality and operational excellence.\nIndustry Prospects in Favor of PDCO\nPer a report by Grand View Research, the global dental practice management software market was estimated at $2.6 billion in 2023 and is anticipated to witness a CAGR of approximately 10.2% between 2024 and 2030. Factors like increasing dental visits and the growing adoption of healthcare IT solutions in oral practice procedures are likely to drive the market.\nGiven the market potential, the latest partnership extension is expected to solidify Patterson Companies’ foothold in the niche space.\nPatterson Companies' Notable Developments\nIn July, Patterson Companies’ Patterson Dental Supply announced a new Eaglesoft native integration with Pearl Second Opinion. The new integration within Eaglesoft Advanced Imaging adds Pearl Second Opinion real-time clinical detections directly to x-rays captured and presented in Eaglesoft. \nThe same month, Patterson Dental Supply announced new integration features within Weave and the Patterson Dental practice management software solutions Fuse, Eaglesoft and Dolphin Management. Per the company, a focus on deeper integrations will likely aid offices to streamline their patient experience to a greater extent.\nPDCO's Share Price Performance\nShares of the company have lost 34.8% in the past year against the industry’s 8.9% rise and the S&P 500's 29.8% growth.\nImage Source: Zacks Investment Research\nPatterson Companies' Zacks Rank & Stocks to Consider\nCurrently, PDCO carries a Zacks Rank #4 (Sell).\nSome better-ranked stocks in the broader medical space are Cardinal Health, Inc. CAH, Cencora, Inc. COR and Globus Medical, Inc. GMED.\nCardinal Health, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 11.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nCardinal Health’s shares have gained 14% compared with the industry’s 8.9% rise in the past year.\nCencora, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.1%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average being 6.9%.\nCencora has gained 23.9% against the industry’s 3% decline in the past year.\nGlobus Medical, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 14.1%. GMED’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 17.7%.\nGlobus Medical’s shares have rallied 80.3% compared with the industry’s 15.4% rise in the past year.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nCardinal Health, Inc. (CAH) : Free Stock Analysis Report\nPatterson Companies, Inc. (PDCO) : Free Stock Analysis Report\nCencora, Inc. (COR) : Free Stock Analysis Report\nGlobus Medical, Inc. (GMED) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484920656"}