Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have earned an average recommendation of “Hold” from the seventeen analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $41.90.
PDCO has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered Patterson Companies from a “hold” rating to a “sell” rating and decreased their price target for the company from $47.43 to $39.00 in a research report on Thursday, July 6th. BidaskClub lowered Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Credit Suisse Group reiterated an “outperform” rating and issued a $50.00 price target (up previously from $45.00) on shares of Patterson Companies in a research report on Thursday, July 13th. Finally, UBS AG upgraded Patterson Companies from a “sell” rating to a “hold” rating and set a $40.00 price target for the company in a research report on Friday, August 25th.
Patterson Companies (NASDAQ PDCO) traded up 1.79% during midday trading on Thursday, hitting $37.00. 1,147,344 shares of the company traded hands. Patterson Companies has a 12-month low of $35.93 and a 12-month high of $49.26. The stock has a 50 day moving average of $38.22 and a 200 day moving average of $41.68. The stock has a market cap of $3.45 billion, a P/E ratio of 21.50 and a beta of 0.97.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.44. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company posted $0.51 EPS. Patterson Companies’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts predict that Patterson Companies will post $2.29 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.81%. Patterson Companies’s payout ratio is presently 60.47%.
In other Patterson Companies news, CFO Ann B. Gugino sold 750 shares of the firm’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total transaction of $27,547.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brookstone Capital Management boosted its position in Patterson Companies by 41.5% during the 3rd quarter. Brookstone Capital Management now owns 8,642 shares of the company’s stock worth $334,000 after acquiring an additional 2,534 shares during the period. Andra AP fonden boosted its position in Patterson Companies by 8.8% during the 3rd quarter. Andra AP fonden now owns 72,814 shares of the company’s stock worth $2,814,000 after acquiring an additional 5,914 shares during the period. Nine Chapters Capital Management LLC acquired a new stake in Patterson Companies during the 3rd quarter worth about $383,000. Tocqueville Asset Management L.P. boosted its position in Patterson Companies by 0.7% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 241,421 shares of the company’s stock worth $9,331,000 after acquiring an additional 1,780 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in Patterson Companies by 38.0% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,978 shares of the company’s stock worth $618,000 after acquiring an additional 4,400 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.
Patterson Companies Company Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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