Note that the PDF doesn't contain the original text, but a description which glyphs to put where. Searching text in a PDF depends on (1) the PDF having table(s) which describe which glyphs correspond to which unicode chars (2) a way to reassemble those translated chars into words (3) assumptions about how the generating application worked, e.g. put down glyphs in text order (which e.g. will horrendously fail when two-column text is rendered in both columns simultanously).
To take into account hyphenation, you'd have to implement an algorithm that detects dashes at the end of a line (different glyphs could be used for that), and then merges the word (and takes special rules about hypenation into account, e.g. for German `ck`).
So yes, it can be done, but not easily, and then it would work only for some languages/scripts anyway.