Bifurcation Continues; Banks Remain A Concern The bifurcation between large-cap growth and small-caps that we discussed last week has continued, where small-caps have generally not been participating in the rally. As we said last week, this bifurcation can continue, but it is not the type of breadth that supports a sustainable new bull market. We need to see the Russell 2000 (IWM) stay above $209 in order to have confidence that the bottom is in. Meanwhile, stick with the commodity and defensiv...
PATTERSON COMPANIES (US), a company active in the Medical Equipment industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 2 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date December 24, 2021, the closing price was USD 28.86 and its expected value was estima...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
Key Points: • No one knows just how the COVID-19 plays out, but yes, at some point this too will pass. We would expect volatility to continue and headlines to trump (pun not intended) trends. The divergence between Technology and the Energy, Materials, and Industrials Sectors has been disturbing to us for some time. Small-Caps and emerging markets have been lagging the Tech heavy S&P 500 significantly as well. • We believe that widening spreads between high-yield corporates and 10-yr Trea...
Patterson reported mixed fiscal 2019 fourth-quarter results. We may slightly reduce our fair value estimate as we incorporate management's lower-than-expected 2020 guidance, and we are leaving our no-moat rating intact. Management issued fiscal 2020 adjusted EPS guidance of $1.33-$1.43 which is slightly below our prior estimate of $1.47. While we are encouraged by Patterson's continued efforts to manage costs, we remain concerned about long-term dental headwinds. Patterson's dental business hel...
Patterson reported mixed fiscal 2019 fourth-quarter results. We may slightly reduce our fair value estimate as we incorporate management's lower-than-expected 2020 guidance, and we are leaving our no-moat rating intact. Management issued fiscal 2020 adjusted EPS guidance of $1.33-$1.43 which is slightly below our prior estimate of $1.47. While we are encouraged by Patterson's continued efforts to manage costs, we remain concerned about long-term dental headwinds. Patterson's dental business hel...
Patterson reported mixed fiscal 2019 fourth-quarter results. We may slightly reduce our fair value estimate as we incorporate management's lower-than-expected 2020 guidance, and we are leaving our no-moat rating intact. Management issued fiscal 2020 adjusted EPS guidance of $1.33-$1.43 which is slightly below our prior estimate of $1.47. While we are encouraged by Patterson's continued efforts to manage costs, we remain concerned about long-term dental headwinds. Patterson's dental business hel...
Patterson reported mixed fiscal 2019 fourth-quarter results. We may slightly reduce our fair value estimate as we incorporate management's lower-than-expected 2020 guidance, and we are leaving our no-moat rating intact. Management issued fiscal 2020 adjusted EPS guidance of $1.33-$1.43 which is slightly below our prior estimate of $1.47. While we are encouraged by Patterson's continued efforts to manage costs, we remain concerned about long-term dental headwinds. Patterson's dental business held...
From our perspective, Patterson's position as a major supplier to dental practices has diminished over the past few years, as competition in the dental consumable segment has increased significantly. What has ensued for Patterson has been retrenching revenue and compressing profits. From what we can gather, the increased competition has emanated from new online-based wholesale players that can source consumables from the cheapest suppliers nationwide. We believe this pressure will last a materia...
From our perspective, Patterson's position as a major supplier to dental practices has diminished over the past few years, as competition in the dental consumable segment has increased significantly. What has ensued for Patterson has been retrenching revenue and compressing profits. From what we can gather, the increased competition has emanated from new online-based wholesale players that can source consumables from the cheapest suppliers nationwide. We believe this pressure will last a materia...
Patterson reported mixed fiscal 2019 third-quarter results. We may slightly reduce our fair value estimate to reflect the company's persistent dental consumables weakness, but we are leaving our narrow moat rating intact. Management slightly narrowed its fiscal 2019 adjusted EPS guidance to $1.40-$1.45, which is slightly below our estimate of $1.46. While we are encouraged by Patterson's continued efforts to expand its private-label businesses, we remain concerned about long-term dental headwind...
From our perspective, Patterson's position as a major supplier to dental practices has diminished over the past few years, as competition in the dental consumable segment has increased significantly. What has ensued for Patterson has been retrenching revenue and compressing profits. From what we can gather, the increased competition has emanated from new online-based wholesale players that can source consumables from the cheapest suppliers nationwide. We believe this pressure will last a materia...
Patterson reported mixed fiscal 2019 third-quarter results. We may slightly reduce our fair value estimate to reflect the company's persistent dental consumables weakness, but we are leaving our narrow moat rating intact. Management slightly narrowed its fiscal 2019 adjusted EPS guidance to $1.40-$1.45, which is slightly below our estimate of $1.46. While we are encouraged by Patterson's continued efforts to expand its private-label businesses, we remain concerned about long-term dental headwind...
Patterson reported mixed fiscal 2019 third-quarter results. We may slightly reduce our fair value estimate to reflect the company's persistent dental consumables weakness, but we are leaving our narrow moat rating intact. Management slightly narrowed its fiscal 2019 adjusted EPS guidance to $1.40-$1.45, which is slightly below our estimate of $1.46. While we are encouraged by Patterson's continued efforts to expand its private-label businesses, we remain concerned about long-term dental headwind...
Patterson reported mixed fiscal 2019 third-quarter results. We may slightly reduce our fair value estimate to reflect the company's persistent dental consumables weakness, but we are leaving our narrow moat rating intact. Management slightly narrowed its fiscal 2019 adjusted EPS guidance to $1.40-$1.45, which is slightly below our estimate of $1.46. While we are encouraged by Patterson's continued efforts to expand its private-label businesses, we remain concerned about long-term dental headwind...
Patterson's fiscal 2019 second-quarter results were hampered by an unfavorable sales mix and dental segment weakness. We may slightly reduce our fair value estimate to reflect the company's persistent dental weakness, but we are leaving our narrow moat rating intact for now. Management reaffirmed its fiscal 2019 adjusted EPS guidance, and while we are somewhat encouraged by Patterson's continued efforts to stabilize its sales organization, we remain concerned about the company's long-term dental...
From our perspective, Patterson's position as a major supplier to dental practices has diminished over the past few years, as competition in the dental consumable segment has increased significantly. What has ensued for Patterson has been retrenching revenue and compressing profits. From what we can gather, the increased competition has emanated from new online-based wholesale players that can source consumables from the cheapest suppliers nationwide. We believe this pressure will last a materia...
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