Why Patterson Companies Stock Was Riding High This Week
The latest earnings report published by specialty healthcare company Patterson Companies (NASDAQ: PDCO) impressed not only investors, but also pundits following the stock. On that wave of optimism the company's share price was up by nearly 10% week to date early Friday morning, according to data compiled by S&P Global Market Intelligence.
On Wednesday, Patterson published the figures for its fourth quarter of fiscal 2023, ended April 29. The company managed to grow its net sales 5% on a year-over-year basis to $1.72 billion. On the bottom line, it netted a non-GAAP (adjusted) profit of $82.4 million, or $0.84 per share. That compared quite favorably to the fourth-quarter 2022 result of just under $70.4 million.
It also blew past the average analyst estimate, which was $0.70 per share. Meanwhile, Patterson's net sales figure exceeded the consensus of $1.66 billion.
Source Fool.com
Patterson Companies Inc. Stock
With 8 Buy predictions and not the single Sell prediction the community is currently very high on Patterson Companies Inc..
As a result the target price of 30 € shows a positive potential of 47.06% compared to the current price of 20.4 € for Patterson Companies Inc..
