Why Patterson Companies Stock Popped 12% Today
Shares of Patterson Companies (NASDAQ: PDCO) stock jumped after management reported its fiscal Q2 2020 results this morning. Wall Street had predicted the dental and animal health products distributor would earn pro forma profits of just $0.34 per share in the quarter, but Patterson reported $0.39 instead. Sales for the quarter tracked precisely with Wall Street estimates -- $1.4 billion -- but the bigger-than-expected profit took investors by (pleasant) surprise.
As of 11:35 a.m. EST, Patterson shares are up 11.5%.
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Source Fool.com
