Docoh
Loading...

PDCO Patterson Companies

Patterson Companies Inc is a medical supplies conglomerate primarily in the business of veterinary and dental products . Traditionally a dental company, it diversified its business at the turn of the millennium when it acquired 55-year-old company, JA Webster Inc, a distributor of veterinary products. That business segment currently distributes equipment and medicine . The company operates directly in only the US and Canada . In 2008 it was noted as having one of the lowest debt ratios among companies in the health care sector. Patterson was also a member of the Nasdaq-100 until December 10, 2010 when it and six other companies were replaced. The Nasdaq-100 is composed of the 100 largest non financial stocks traded on the Nasdaq.

Company profile

Ticker
PDCO
Exchange
CEO
Mark Walchirk
Employees
Incorporated
Location
Fiscal year end
Former names
PATTERSON DENTAL CO
SEC CIK
IRS number
410886515

PDCO stock data

(
)

Calendar

3 Mar 21
17 Apr 21
24 Apr 21
Quarter (USD)
Jan 21 Oct 20 Jul 20 Apr 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Apr 20 Apr 19 Apr 18 Apr 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 155.96M 155.96M 155.96M 155.96M 155.96M 155.96M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) 38.31M 60.63M 56.62M
Cash used (since last report) n/a n/a n/a 108.16M 171.19M 159.88M
Cash remaining n/a n/a n/a 47.8M -15.23M -3.92M
Runway (months of cash) n/a n/a n/a 1.2 -0.3 -0.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Mar 21 Pohlman Kevin M Common Stock Grant Aquire A No No 24.769 345 8.55K 103,631
31 Mar 21 Shirley Eric R Common Stock Grant Aquire A No No 24.769 118 2.92K 51,761
31 Mar 21 Walchirk Mark S Common Stock Grant Aquire A No No 24.769 467 11.57K 321,153
5 Mar 21 Zurbay Donald Common Stock Sell Dispose S No Yes 30.0973 6,817 205.17K 101,525
13 Jan 21 Feragen Jody H Common Stock Sell Dispose S No No 32.8279 10,052 329.99K 34,479
13 Jan 21 Feragen Jody H Common Stock Option exercise Aquire M No No 27.36 12,000 328.32K 44,531
13 Jan 21 Feragen Jody H Director Stock Options Common Stock Option exercise Dispose M No No 27.36 12,000 328.32K 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

87.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 261 238 +9.7%
Opened positions 55 34 +61.8%
Closed positions 32 42 -23.8%
Increased positions 64 55 +16.4%
Reduced positions 101 111 -9.0%
13F shares
Current Prev Q Change
Total value 2.51B 3.68B -31.7%
Total shares 84.67M 82.39M +2.8%
Total puts 115.5K 166.8K -30.8%
Total calls 199.5K 345.6K -42.3%
Total put/call ratio 0.6 0.5 +20.0%
Largest owners
Shares Value Change
TROW T. Rowe Price 13.37M $396.11M -5.4%
BLK Blackrock 10.24M $303.51M +1.9%
FMR 9.41M $278.93M +31.2%
Vanguard 8.38M $248.3M +2.2%
Dimensional Fund Advisors 4.56M $135.19M -3.2%
STT State Street 2.84M $84.17M -0.2%
Victory Capital Management 2.32M $68.84M -10.0%
NTRS Northern Trust 1.99M $59.04M -2.4%
WFC Wells Fargo & Co. 1.93M $57.29M +0.9%
BK Bank Of New York Mellon 1.57M $46.42M -11.1%
Largest transactions
Shares Bought/sold Change
FMR 9.41M +2.24M +31.2%
Norges Bank 1.12M +1.12M NEW
TROW T. Rowe Price 13.37M -761.81K -5.4%
Millennium Management 566.78K +566.78K NEW
State Of Michigan Retirement System 530.09K +498.5K +1578.0%
Renaissance Technologies 0 -429.2K EXIT
Grantham, Mayo, Van Otterloo & Co. 99.6K -331.9K -76.9%
Victory Capital Management 2.32M -259.35K -10.0%
Epoch Investment Partners 253.37K +253.37K NEW
Citadel Advisors 271.49K +242.25K +828.5%

Financial report summary

?
Risks
  • The COVID-19 pandemic and measures taken in response thereto have adversely affected our results of operations and our financial condition, and the full impact of the pandemic will depend on future developments, which are highly uncertain and cannot be predicted.
  • Other events affecting general economic conditions could adversely affect our operating results and financial condition.
  • Breaches of information systems security could damage our reputation, disrupt operations, increase costs and/or decrease revenues.
  • Our credit agreement contains restrictive covenants and additional limits and our other debt instruments contain cross-default provisions, which limit our business and financing activities.
  • We are dependent on our relationships with our sales representatives, service technicians and our customers.
  • We may be unable to realize the long-term strategic benefits of our acquisition of Animal Health International, Inc.
  • Disruption to our distribution capabilities, including service issues with our third-party shippers, could materially adversely affect our results.
  • Our business development efforts may suffer if we fail to provide our sales force and customers with the latest customer relationship and order management tools.
  • We are dependent on our suppliers because we generally do not manufacture the products we sell.
  • Material changes in our purchasing relationship with suppliers could have a material adverse effect on our business.
  • Sales of private label products entail additional risks, including the risk that such sales could adversely affect our relationships with suppliers.
  • Patterson’s continued success is substantially dependent on positive perceptions of Patterson’s reputation.
  • Risks inherent in acquiring other businesses could offset the anticipated benefits of such acquisitions and we may face difficulty in efficiently and effectively integrating acquired businesses.
  • Our acquired technology or developed technology may not be successful in maintaining existing customers or gaining new customers, or the technology may fail to produce its intended results.
  • We are subject to a variety of litigation that could adversely affect our results of operations and financial condition.
  • Changes in consumer preferences away from food animal products could adversely affect our business.
  • Regulatory restrictions and bans on the use of antibiotics and growth promotants in food animals, as well as changing market demand, could adversely affect our business.
  • Our business may be directly and indirectly affected by the cyclicality of the livestock market, including the effect of poor or unusual weather conditions, that could reduce demand for the production animal products we distribute.
  • The outbreak of an infectious disease within either the production animal or companion animal population could have a significant adverse effect on our business and our results of operations.
  • Pressure from animal rights groups may subject us to additional costs to conform our practices to comply with developing standards or subject us to marketing costs to defend challenges to our current practices.
  • Adverse changes in supplier rebates could negatively affect our business.
  • We experience fluctuations in quarterly financial results. As a result, we may fail to meet or exceed the expectations of securities analysts and investors, which could cause our stock price to decline.
  • The market price for our common stock may be highly volatile.
  • The formation of group purchasing organizations (“GPOs”), provider networks and buying groups may place us at a competitive disadvantage.
  • Increases in over-the-counter sales of companion animal products, or sales of companion animal products from non-veterinarian sources, could adversely affect our business.
  • Our international operations are subject to inherent risks that could adversely affect our operating results.
  • Change and uncertainty in the health care industry, including continued implementation of the U.S. Patient Protection and Affordable Care Act as amended by the Health Care and Education Reconciliation Act (the “Health Care Reform Law”), could materially adversely affect our business.
  • Reporting and disclosure obligations under the Physician Payment Sunshine Act provisions of the Health Care Reform Law increase the cost of our regulatory compliance.
  • Failure to comply with existing and future U.S. and foreign laws and regulatory requirements, including those governing the distribution of pharmaceuticals and controlled substances, could subject us to claims or otherwise harm our business.
  • Public concern over the abuse of opioid medications in the U.S., including increased legal and regulatory action, could negatively affect our business.
  • If we fail to comply with laws and regulations relating to health care fraud or other laws and regulations, we could suffer penalties or be required to make significant changes to our operations, which could materially adversely affect our business.
  • If we fail to comply with laws and regulations relating to the confidentiality of sensitive personal information or standards in electronic health records or transmissions, we could be required to make significant changes to our products, or incur substantial fines, penalties or other liabilities.
  • Risks generally associated with our information systems and cyber-security attacks could adversely affect our results of operations.
  • The products we sell are subject to market and technological obsolescence; our software products may contain undetected errors or bugs when released.
  • Volatility in the financial markets could adversely affect our operating results and financial condition.
  • Our ability to make payments on our debt obligations depends on our performance.
  • Recent significant changes to our executive leadership team and any future loss of members of such team, and the resulting management transitions might harm our future operating results.
  • Our future success depends on our leadership development and succession planning.
  • We may experience significant disruptions in our operations resulting from our enterprise resource planning system.
  • Our business could be negatively adversely affected as a result of shareholder activism.
  • In fiscal 2020, we recorded impairment charges that eliminated our Animal Health segment’s goodwill, and we may be required in the future to record a significant charge to earnings if our Dental segment’s goodwill or other intangible assets become impaired.
  • Audits by tax authorities could result in additional tax payments for prior periods, and tax legislation could materially adversely affect our financial results and tax liabilities.
  • We are exposed to the risk of changes in interest rates.
  • Our governing documents, other documents to which we are a party, and Minnesota law may discourage takeovers and business combinations that our shareholders might consider to be in their best interests.
Management Discussion
  • Net Sales. Consolidated net sales for the three months ended January 23, 2021 were $1,551.3 million, an increase of 6.5% from $1,456.2 million for the three months ended January 25, 2020. Foreign exchange rate changes had a favorable impact of 0.3% on current quarter sales.
  • Dental segment sales for the three months ended January 23, 2021 were $648.9 million, an increase of 3.6% from $626.6 million for the three months ended January 25, 2020. Foreign exchange rate changes had a negligible impact on current quarter sales. Current quarter sales of consumables increased 13.6%, sales of equipment and software decreased 6.2%, and sales of value-added services and other decreased 3.9%. We recorded increased sales of infection control products during the three months ended January 23, 2021 compared to the three months ended January 25, 2020 within consumable sales. Growth in infection control products contributed approximately 80% of the 13.6% growth of consumables in the current quarter.
  • Animal Health segment sales for the three months ended January 23, 2021 were $894.3 million, an increase of 9.4% from $817.3 million for the three months ended January 25, 2020. Foreign exchange rate changes had a favorable impact of 0.6% on current quarter sales. Sales were higher during the three months ended January 23, 2021, driven primarily by increased sales in our companion animal business, which were 19.1% higher than the three months ended January 25, 2020.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: professional, refinance, Subsequent, therewith
Removed: continue, reputational, suffer