UPDATE: Goldman Sachs Downgrades PSS World Medical to Sell, Lowers PT to $21

Goldman Sachs lowers its rating on PSS World Medical

from Neutral to Sell and lowers the stock's price target 9 percent to $21 as it sees more downside risk to estimates. Goldman Sachs says this downside risks comes from "(1) less-favorable competitive positioning where the pace of physician office acquisition by large integrated delivery networks (IDNs) seems to be accelerating, (2) procedural volumes within the ambulatory care (physicians' offices, clinics, etc.) environment are still challenged, and (3) pressures on the Elder Care segment from customer losses and uncertainties surrounding regulatory/reimbursement challenges at its customer base." PSSI closed at $23.55 per share on Tuesday.