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A report from J.P. Morgan reiterates its Neutral rating on Patterson Companies
PDCO.
The report states, “This morning, PDCO reported 2Q12 EPS of $0.43, which was below our estimate and consensus of $0.46 and down 5.5% y/y. The miss was primarily driven by the revenue line, with equipment coming in below our forecast across all three segments (with a y/y decline in CEREC driven by a successful trade-up program in the year-ago period).”
PDCO closed yesterday at $29.32.
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