PDCO stock bolted nearly 15% in Wednesday trading after dental and pet care products maker Patterson Cos. blew away estimates for its Q4 earnings results.
St. Paul, Minn.-based Patterson provides more than 144,000 different products, equipment, software and technology services for the dental and animal health industry.
For its Q4 results Wednesday morning, Patterson reported an 18.3% adjusted earnings jump to 84 cents per share on 5% sales growth to $1.72 billion. The results marked three consecutive quarters of accelerating earnings and sales growth and topped analyst EPS estimates of 70 cents on $1.66 billion in revenue.
Patterson guided adjusted 2024 earnings between $2.45 and $2.55 per share, which would represent 1.2% to 5.3% growth. The outlook is in-line with the $2.50 forecast from FactSet analysts.
PDCO Stock
PDCO stock soared 14.7% Wednesday after results. That snapped shares above a 31.20 entry in a four-month cup base. The move also cuts above a downward sloping trendline, which started after hitting a 2022 high of 35.29 last April.
PDCO stock leapt 15.6% this year.
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