01:20 PM EST, 03/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month price target price remains at $29, 11.6x our FY 2025 adjusted EPS estimate (down by $0.18 to $2.49), a discount to peers and between PDCO's three- and five-year averages of 12.8x and 13.2x, respectively. We lower our FY 2024 EPS estimate by $0.08 to $2.32. Jan-Q adjusted EPS of $0.59 versus $0.62 missed consensus forecasts by $0.01. Net sales of $1.62B (+1.0% Y/Y) missed consensus by ~$11M. Dental revenue rose 2.5% Y/Y, supported by 6.3% Y/Y growth in consumables, offset by a 2.4% Y/Y decline in equipment sales, a continued trend which PDCO attributes to a challenging macro environment. Animal Health revenue declined 0.2% Y/Y, with software sales helping offset weaker comparable results in companion animal and equipment sales. Quarterly adjusted EBIT margin fell to 4.7% from 5.2% in the prior-year quarter. Shares yield 4.0%, above health care distributor peers.