Report
Vishnu Lekraj
EUR 101.80 For Business Accounts Only

We expect decent returns on capital for Patterson despite near-term growth and margin headwinds.

Patterson’s fiscal first quarter reflected the continued pressure within its dental and animal health businesses. The firm is amid a significant transition as a result of these headwinds, and we expect these near-term challenges to remain in place as dental customers have moved a material portion of their consumable product spending to lower-cost suppliers. Interim CEO James Wiltz is making an effort to reformulate the firm's dental sales operations in order reflect this new market dynamic, but ...
Underlying
Patterson Companies Inc.

Patterson Companies is a distributor serving the U.S. and Canadian dental supply and the U.S., Canadian and U.K. animal health supply markets. The company operates through two business units, Patterson Dental and Patterson Animal Health. Patterson Dental provides consumable products, including infection control, restorative materials, hand instruments and sterilization products; technology dental equipment; technology solutions, including practice management software and e-commerce solutions; patient education systems; and office forms and stationery to dentists, dental laboratories, institutions, and other healthcare personnel. Patterson Animal Health is a distributor of animal health products.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Vishnu Lekraj

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