Patterson Companies, Inc. - PDCO STOCK NEWS

Patterson Companies has released its fiscal year 2024 Corporate Responsibility Report, highlighting the company's commitment to environmental sustainability, employee welfare, and inclusion. The report showcases Patterson's efforts to promote an inclusive workplace, reduce its carbon footprint, and implement a DE&I strategy. CEO Don Zurbay expressed pride in the company's progress and emphasized the importance of these initiatives in creating long-term value and impacting customers and communities.

The report aligns with Patterson's core values of continuous advancement, focused operations, people-first approach, and passionate service. It demonstrates the company's dedication to operating with integrity, strong governance practices, and investing in team members. Patterson aims to cultivate a collaborative, responsive, and inclusive workplace while serving communities through its products, services, corporate giving, and volunteerism.

Pearl, a leader in dental AI solutions, and Patterson Dental Canada, a subsidiary of Patterson Companies, Inc. (Nasdaq: PDCO), have announced a collaboration to expand access to Pearl's Second Opinion® AI disease detection capabilities in the Canadian dental market. This partnership will bring Pearl's real-time pathology detection AI software to new users across Canada, assisting dentists in radiologic evaluation and case presentation of dental conditions found in x-rays.

The technology, which received its Medical Device Establishment License from Health Canada in 2021, enhances dentists' clinical performance and patient communication. This collaboration expands Pearl's commercial ties with Patterson Companies, Inc., following a November 2023 integration with Patterson Dental Supply, Inc. in the United States.

Weave (NYSE: WEAV) has announced new integration features with Patterson Dental's practice management software solutions, Fuse, Eaglesoft, and Dolphin Management. These integrations facilitate a comprehensive data exchange, enabling the read and write of patient and appointment data, as well as payment collection. Key features include online scheduling, digital forms, and payment writebacks for seamless financial management. The new offerings aim to automate tasks, improve data accuracy, streamline payment workflows, and enhance patient care, thereby assisting dental practices in growing their business.

Patterson Companies reported a slight increase in fiscal 2024 Q4 net sales to $1.72 billion, with internal sales down 0.5%. Dental consumables grew 3.7%, while the Animal Health segment saw a 2.5% rise. GAAP earnings were $0.74 per share; adjusted earnings were $0.82 per share, slightly impacted by a cybersecurity attack. Fiscal 2024 full-year net sales totaled $6.57 billion, up 1.5%, with GAAP earnings of $1.98 per share and adjusted earnings of $2.30 per share. Fiscal 2025 guidance projects GAAP earnings of $2.00-$2.10 per share and adjusted earnings of $2.33-$2.43 per share. The company returned $327.9 million to shareholders through dividends and share repurchases.

Patterson Companies (Nasdaq: PDCO) has scheduled its fiscal 2024 fourth-quarter and year-end conference call for Tuesday, June 18, 2024, at 7:30 a.m. CT (8:30 a.m. ET). The announcement will include an earnings release issued prior to market opening that day. To join the live webcast, visit the investor relations section of Patterson Companies' website. A replay of the earnings call will be accessible starting at 10 a.m. CT (11 a.m. ET) on June 18 through 10 p.m. CT (11 p.m. ET) on June 25, 2024. Interested parties can dial (800) 770-2030 and enter Conference ID 67281 to listen to the replay.

On June 11, 2024, Patterson Companies (Nasdaq: PDCO) announced a regular quarterly cash dividend of $0.26 per share.

The dividend is scheduled to be paid on August 2, 2024, for shareholders of record as of July 19, 2024.

Wellfit Technologies has announced a partnership with Patterson Dental to launch CarePay+, a platform aimed at optimizing patient care and payment management in dental practices.

CarePay+ integrates Wellfit’s healthcare SaaS management with Patterson Dental’s Eaglesoft practice management software. The platform is designed to offer a more convenient and transparent financing experience, addressing modern patient expectations.

CarePay+ is now available to all new and existing Eaglesoft customers. Both companies' executives have expressed their enthusiasm for the collaboration and its potential to enhance the dental practice operational efficiency and patient engagement.

Patterson Veterinary Supply announced a partnership with Weave, an all-in-one software platform for healthcare practices, including veterinary clinics. This collaboration aims to enhance customer engagement and streamline operations through automated interactions, marketing, scheduling, appointment reminders, and payment systems.

Weave's integration offers various user-friendly features such as Call Pop, Missed Call Texts, and Practice Analytics, leveraging VoIP phone systems. The addition of Weave to Patterson's portfolio is expected to bring efficiency and improved client experiences to veterinary practices.

The announcement highlights the commitment of both Patterson Veterinary and Weave to support veterinary practices with advanced, efficiency-driven technology solutions.

Patterson Companies, Inc. announced a leadership transition in its Dental segment as Tim Rogan steps down as President of Patterson Dental. The company is searching for a new leader to drive growth and profitability. Rogan will serve as an advisor during the transition period. The Dental segment will report to the Chief Operating Officer, Kevin Pohlman.