Patterson Companies (PDCO) Stock Price Up 5.3%

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) rose 5.3% on Tuesday . The company traded as high as $37.47 and last traded at $37.30. Approximately 2,551,800 shares changed hands during mid-day trading, an increase of 96% from the average daily volume of 1,301,880 shares. The stock had previously closed at $35.41.

PDCO has been the subject of a number of recent research reports. TheStreet downgraded Patterson Companies from a “b-” rating to a “c” rating in a report on Thursday, August 24th. Stifel Nicolaus upgraded Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a report on Wednesday, November 15th. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Morgan Stanley initiated coverage on Patterson Companies in a report on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 price objective for the company. Finally, Jefferies Group restated a “hold” rating and issued a $37.00 price objective on shares of Patterson Companies in a report on Thursday, November 23rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Patterson Companies has an average rating of “Hold” and an average price target of $41.20.

The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $3,391.43, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business posted $0.56 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. sell-side analysts anticipate that Patterson Companies, Inc. will post 2.06 earnings per share for the current fiscal year.

In related news, Director John D. Buck acquired 2,834 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were bought at an average price of $34.93 per share, with a total value of $98,991.62. Following the transaction, the director now directly owns 54,627 shares of the company’s stock, valued at $1,908,121.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ann B. Gugino sold 750 shares of the 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 disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Amica Retiree Medical Trust boosted its position in shares of Patterson Companies by 433.8% during the 3rd quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock worth $116,000 after purchasing an additional 2,429 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Patterson Companies by 423.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock worth $118,000 after purchasing an additional 2,041 shares in the last quarter. Commonwealth Bank of Australia boosted its position in shares of Patterson Companies by 15.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after purchasing an additional 415 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Patterson Companies by 4.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after purchasing an additional 150 shares in the last quarter. Finally, Palisade Asset Management LLC bought a new position in shares of Patterson Companies during the 2nd quarter worth about $188,000. 93.36% of the stock is currently owned by institutional investors.

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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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