Patterson Companies, Inc. (PDCO) Receives Consensus Rating of “Hold” from Brokerages
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been given an average rating of “Hold” by the fourteen research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.57.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, May 31st. 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. Jefferies Group LLC reissued a “hold” rating and issued a $40.00 price objective on shares of Patterson Companies in a research report on Monday, May 15th. Stifel Nicolaus cut shares of Patterson Companies from a “hold” rating to a “sell” rating and decreased their price objective for the company from $47.43 to $39.00 in a research report on Thursday, July 6th. Finally, UBS AG cut shares of Patterson Companies from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $44.50 to $40.00 in a research report on Tuesday, July 11th.
In other news, insider Ann B. Gugino sold 750 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total transaction of $32,872.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total transaction of $467,600.00. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock worth $532,273 in the last ninety days. Corporate insiders own 0.46% of the company’s stock.
A number of institutional investors have recently modified their holdings of PDCO. CWM LLC boosted its position in shares of Patterson Companies by 7.7% in the second quarter. CWM LLC now owns 674,623 shares of the company’s stock worth $31,674,000 after buying an additional 48,448 shares in the last quarter. Eqis Capital Management Inc. boosted its position in shares of Patterson Companies by 98.6% in the second quarter. Eqis Capital Management Inc. now owns 13,818 shares of the company’s stock worth $649,000 after buying an additional 6,861 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Patterson Companies by 519.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 13,467 shares of the company’s stock worth $632,000 after buying an additional 11,292 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Patterson Companies by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 20,363 shares of the company’s stock worth $956,000 after buying an additional 112 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Patterson Companies by 6.4% in the second quarter. State of Alaska Department of Revenue now owns 19,508 shares of the company’s stock worth $915,000 after buying an additional 1,166 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
Patterson Companies (NASDAQ PDCO) opened at 43.10 on Tuesday. Patterson Companies has a 12-month low of $36.46 and a 12-month high of $49.85. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 24.08 and a beta of 0.97. The company has a 50-day moving average price of $45.60 and a 200-day moving average price of $43.86.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, May 25th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The company 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 firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 EPS. On average, equities research 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. Stockholders of record on Friday, July 14th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.41%. Patterson Companies’s payout ratio is 58.10%.
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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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