Stifel Nicolaus Lowers Patterson Companies, Inc. (NASDAQ:PDCO) to Sell
Patterson Companies, Inc. (NASDAQ:PDCO) was downgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “sell” rating in a report released on Thursday, Marketbeat Ratings reports. They presently have a $39.00 target price on the stock, down from their prior target price of $47.43. Stifel Nicolaus’ target price points to a potential downside of 12.16% from the stock’s current price.
Several other research firms have also recently issued reports on PDCO. BidaskClub raised shares of Patterson Companies from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Jefferies Group LLC reissued a “hold” rating and issued a $40.00 price target on shares of Patterson Companies in a research report on Friday, May 5th. Deutsche Bank AG assumed coverage on shares of Patterson Companies in a research report on Wednesday, March 15th. They issued a “hold” rating and a $45.00 price target for the company. Zacks Investment Research raised shares of Patterson Companies from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, May 2nd. Finally, Craig Hallum assumed coverage on shares of Patterson Companies in a research report on Tuesday, April 11th. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Patterson Companies has a consensus rating of “Hold” and a consensus price target of $43.63.
Patterson Companies (PDCO) opened at 44.40 on Thursday. The firm has a market capitalization of $4.17 billion, a P/E ratio of 24.80 and a beta of 0.98. The stock’s 50 day moving average price is $45.60 and its 200-day moving average price is $43.86. Patterson Companies has a 12 month low of $36.46 and a 12 month high of $50.05.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. Equities analysts forecast that Patterson Companies will post $2.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.34%. Patterson Companies’s dividend payout ratio (DPR) is presently 58.10%.
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In other Patterson Companies news, Director Scott P. Anderson sold 10,000 shares of Patterson Companies stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total value of $467,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total transaction of $32,872.50. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PDCO. Nomura Asset Management Co. Ltd. raised its position in Patterson Companies by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock worth $476,000 after buying an additional 70 shares in the last quarter. LS Investment Advisors LLC raised its position in Patterson Companies by 1.4% in the first quarter. LS Investment Advisors LLC now owns 9,631 shares of the company’s stock worth $436,000 after buying an additional 134 shares in the last quarter. Teton Advisors Inc. raised its position in Patterson Companies by 0.5% in the first quarter. Teton Advisors Inc. now owns 29,404 shares of the company’s stock worth $1,330,000 after buying an additional 141 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in Patterson Companies by 2.3% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,810 shares of the company’s stock worth $398,000 after buying an additional 200 shares in the last quarter. Finally, Tyers Asset Management LLC raised its position in Patterson Companies by 1.4% in the first quarter. Tyers Asset Management LLC now owns 18,944 shares of the company’s stock worth $857,000 after buying an additional 256 shares in the last quarter. Institutional investors own 89.62% 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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