Welcome to our dedicated page for Patterson Cos news (Ticker: PDCO), a resource for investors and traders seeking the latest updates and insights on Patterson Cos stock.
Patterson Companies, Inc. (Nasdaq: PDCO) is a specialty distributor focused on the dental and animal health markets, connecting customers in North America and the U.K. to products, technologies, services and business solutions. The PDCO news feed highlights company announcements, financial updates and corporate developments that shape the outlook for this health care distributor.
News about Patterson Companies includes earnings releases that discuss segment performance in dental and animal health, internal sales trends and value-added services. These updates provide detail on how the dental and animal health segments are performing and how factors such as market conditions or external events affect the business. Company communications also cover strategic reviews, guidance updates and capital allocation decisions.
Corporate transaction news is a key theme for PDCO. Patterson has announced a definitive agreement to be acquired by Patient Square Capital, and subsequent updates describe the progress of this transaction, including the expiration of a go-shop period and shareholder approval of the acquisition. Index provider announcements also note that Patterson will be removed from the S&P SmallCap 600 index in connection with this transaction.
The PDCO news stream features information on strategic relationships and technology initiatives, such as Patterson Dental’s extended relationship with PDS Health and integrations between Patterson Dental’s practice management software and third-party platforms. For investors and observers following Patterson Companies, this news page brings together developments on its operations, financial performance and the planned transition from a public company to private ownership under Patient Square Capital.
Patterson Companies, Inc. (Nasdaq: PDCO) has announced two strategic acquisitions for its Animal Health business. In the UK, National Veterinary Services (NVS) will acquire Infusion Concepts , a leader in veterinary infusion and critical care products. This move aims to expand Patterson's portfolio with high-quality products for veterinary partners.
In the US, Animal Health International, Inc. will acquire the majority of Mountain Vet Supply's operating assets. This regional distributor, based in Fort Collins, Colorado, serves the production and companion animal market. The acquisition is expected to increase Patterson's presence in Colorado, Nebraska, Wyoming, and Montana markets, drive operating leverage, and create synergies with strategic vendors.
Both transactions are expected to close during Patterson's second fiscal quarter of FY2025. Financial terms were not disclosed.
Patterson Companies, Inc. (Nasdaq: PDCO) has announced a quarterly cash dividend of $0.26 per share. This decision was made by the company's Board of Directors on September 17, 2024. The dividend is scheduled to be paid on or around November 1, 2024, to shareholders who are on record as of the close of business on October 18, 2024. This regular quarterly dividend demonstrates Patterson Companies' commitment to providing consistent returns to its shareholders.
Patterson Companies (Nasdaq: PDCO) reported fiscal 2025 first quarter results with net sales decreasing 2.2% year-over-year to $1.54 billion. The company faced challenges due to the cybersecurity attack on Change Healthcare, impacting its dental segment's value-added services. GAAP earnings were $0.15 per diluted share, while adjusted earnings were $0.24 per diluted share. Despite these setbacks, Patterson reaffirmed its fiscal 2025 guidance, projecting GAAP earnings of $2.00 to $2.10 per diluted share and adjusted earnings of $2.33 to $2.43 per diluted share. The company returned $73.3 million to shareholders through dividends and share repurchases in Q1.
Patterson Dental has announced a new software integration with Bola AI, bringing voice-AI technology to dental practices using Fuse and Eaglesoft practice management software. This integration aims to increase clinical efficiency by streamlining documentation and charting tasks for hygienists.
Bola AI's Voice Perio system allows dental staff to record periodontal data directly into their practice management software in real-time. It offers high speech accuracy, filters out background noise, and supports flexible phrasing and various clinician accents.
Brad Joseph, VP of Product Management at Patterson Dental, emphasized the intuitive nature of the integration, while Rushi Ganmukhi, CEO of Bola AI, highlighted the shared goal of revolutionizing the dental environment through cutting-edge technology.
Patterson Companies (Nasdaq: PDCO) has announced its fiscal 2025 first-quarter conference call, scheduled for Wednesday, August 28, 2024, at 7:30 a.m. CT (8:30 a.m. ET). The company's earnings release will be issued before the market opens on the same day. Investors can access the live webcast through the investor relations section of Patterson's website.
A replay of the conference call will be available from 10 a.m. CT on August 28 until 10 p.m. CT on September 3, 2024. Interested parties can dial (800) 770-2030 and enter Conference ID 67281 to access the replay.
Patterson Companies has released its fiscal year 2024 Corporate Responsibility Report, highlighting the company's commitment to environmental sustainability, employee welfare, and inclusion. The report showcases Patterson's efforts to promote an inclusive workplace, reduce its carbon footprint, and implement a DE&I strategy. CEO Don Zurbay expressed pride in the company's progress and emphasized the importance of these initiatives in creating long-term value and impacting customers and communities.
The report aligns with Patterson's core values of continuous advancement, focused operations, people-first approach, and passionate service. It demonstrates the company's dedication to operating with integrity, strong governance practices, and investing in team members. Patterson aims to cultivate a collaborative, responsive, and inclusive workplace while serving communities through its products, services, corporate giving, and volunteerism.
Pearl, a leader in dental AI solutions, and Patterson Dental Canada, a subsidiary of Patterson Companies, Inc. (Nasdaq: PDCO), have announced a collaboration to expand access to Pearl's Second Opinion® AI disease detection capabilities in the Canadian dental market. This partnership will bring Pearl's real-time pathology detection AI software to new users across Canada, assisting dentists in radiologic evaluation and case presentation of dental conditions found in x-rays.
The technology, which received its Medical Device Establishment License from Health Canada in 2021, enhances dentists' clinical performance and patient communication. This collaboration expands Pearl's commercial ties with Patterson Companies, Inc., following a November 2023 integration with Patterson Dental Supply, Inc. in the United States.
Weave (NYSE: WEAV) has announced new integration features with Patterson Dental's practice management software solutions, Fuse, Eaglesoft, and Dolphin Management. These integrations facilitate a comprehensive data exchange, enabling the read and write of patient and appointment data, as well as payment collection. Key features include online scheduling, digital forms, and payment writebacks for seamless financial management. The new offerings aim to automate tasks, improve data accuracy, streamline payment workflows, and enhance patient care, thereby assisting dental practices in growing their business.
Patterson Companies reported a slight increase in fiscal 2024 Q4 net sales to $1.72 billion, with internal sales down 0.5%. Dental consumables grew 3.7%, while the Animal Health segment saw a 2.5% rise. GAAP earnings were $0.74 per share; adjusted earnings were $0.82 per share, slightly impacted by a cybersecurity attack. Fiscal 2024 full-year net sales totaled $6.57 billion, up 1.5%, with GAAP earnings of $1.98 per share and adjusted earnings of $2.30 per share. Fiscal 2025 guidance projects GAAP earnings of $2.00-$2.10 per share and adjusted earnings of $2.33-$2.43 per share. The company returned $327.9 million to shareholders through dividends and share repurchases.
Patterson Companies (Nasdaq: PDCO) has scheduled its fiscal 2024 fourth-quarter and year-end conference call for Tuesday, June 18, 2024, at 7:30 a.m. CT (8:30 a.m. ET). The announcement will include an earnings release issued prior to market opening that day. To join the live webcast, visit the investor relations section of Patterson Companies' website. A replay of the earnings call will be accessible starting at 10 a.m. CT (11 a.m. ET) on June 18 through 10 p.m. CT (11 p.m. ET) on June 25, 2024. Interested parties can dial (800) 770-2030 and enter Conference ID 67281 to listen to the replay.
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