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Patterson Companies, Inc.

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The Patterson Companies reported impressive first-quarter fiscal 2017 results with strong year-over-year growth in earnings and revenues. Notably, the management reaffirmed its previously issued guidance for fiscal 2017. We remain particularly upbeat about the growth prospects of the company’s Animal Health segment. Livestock end markets had a significant contribution to the Animal Health growth in the reported quarter. We believe, the divestiture of Patterson Medical is also expected to help the company focus on its core business segments and propel better growth in the long run. However unfavorable foreign exchange rate, higher operating expenses and accelerating debt are the major concerns at present for the company.

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