UPDATE: Goldman Sachs Downgrades Patterson Companies to Sell on Downside Outlook
Goldman Sachs downgraded Patterson Companies (NASDAQ: PDCO) from Neutral to Sell.
Goldman Sachs said, "We downgrade PDCO to Sell, as we are 1-2% below Street EPS for FY13-14 on our less bullish near-term view of high-tech equipment demand. We believe PDCO's exclusive distribution relationship with SIRO and potential supply constraints with Omnicam(SIRO's new intraoral camera) could pose challenges in CY1H12. We also see less support from other segments given tough Vet comps ahead and ongoing Medical challenges."
Patterson Companies closed at $35.61 on Monday.
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