Why Shares of Patterson Companies Shot Up Wednesday
Shares of Patterson Companies (NASDAQ: PDCO) were up 14.7% Wednesday afternoon after rising as much as 28.3%, hitting a 52-week high of $32.82. The healthcare company, which makes products and services for the dental and animal health markets, reported quarterly earnings and annual earnings. The stock is up more than 16% so far this year.
Patterson reported fiscal 2023 year-end and fourth-quarter numbers before the markets opened on Wednesday. Fourth-quarter revenue was listed as $1.7 billion, up 5%, and earnings per share (EPS) of $0.17 represented a gain of 18% over the same period last year.
The company operates an animal health segment and a dental health segment. In the fourth quarter, dental health, the smaller of the two segments, reported an 8% sales gain year over year, to $683.5 million. Animal health revenue came in at $1.03 billion, up 3.2% from the prior-year period.
Source Fool.com
Patterson Companies Inc. Stock
Patterson Companies Inc. is currently one of the favorites of our community with 8 Buy predictions and no Sell predictions.
With a target price of 31 € there is a positive potential of 30.25% for Patterson Companies Inc. compared to the current price of 23.8 €.
