Patterson Companies (NASDAQ:PDCO) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
Several other brokerages have also issued reports on PDCO. TheStreet lowered Patterson Companies from a “b-” rating to a “c” rating in a research note on Thursday, August 24th. Stifel Nicolaus raised Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a research note on Wednesday, November 15th. Zacks Investment Research raised Patterson Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Morgan Stanley initiated coverage on Patterson Companies in a research report on Thursday, September 21st. They set an “equal weight” rating and a $42.00 target price on the stock. Finally, Jefferies Group reaffirmed a “hold” rating and set a $37.00 target price on shares of Patterson Companies in a research report on Thursday, November 23rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Patterson Companies has a consensus rating of “Hold” and a consensus price target of $41.20.
Shares of Patterson Companies (NASDAQ:PDCO) traded up $0.40 during mid-day trading on Thursday, reaching $35.21. The company had a trading volume of 1,656,043 shares, compared to its average volume of 1,309,984. Patterson Companies has a 1-year low of $32.07 and a 1-year high of $48.29. The company has a market capitalization of $3,350.00, a PE ratio of 16.36, a PEG ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.94 and a quick ratio of 1.10.
Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company earned $0.56 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. sell-side analysts predict that Patterson Companies will post 2.06 earnings per share for the current year.
In related news, Director John D. Buck purchased 2,834 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was acquired at an average cost of $34.93 per share, with a total value of $98,991.62. Following the transaction, the director now owns 54,627 shares of the company’s stock, valued at approximately $1,908,121.11. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ann B. Gugino sold 750 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $36.73, for a total value of $27,547.50. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
A number of large investors have recently made changes to their positions in PDCO. Bank of Montreal Can grew its stake in Patterson Companies by 7.4% in the 2nd quarter. Bank of Montreal Can now owns 37,044 shares of the company’s stock valued at $1,740,000 after purchasing an additional 2,539 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Patterson Companies by 24.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 85,897 shares of the company’s stock worth $4,034,000 after acquiring an additional 16,978 shares during the period. Sei Investments Co. grew its stake in shares of Patterson Companies by 25.5% during the 2nd quarter. Sei Investments Co. now owns 18,680 shares of the company’s stock worth $877,000 after acquiring an additional 3,800 shares during the period. Trexquant Investment LP bought a new position in shares of Patterson Companies during the 2nd quarter worth $742,000. Finally, Palisade Asset Management LLC bought a new position in shares of Patterson Companies during the 2nd quarter worth $188,000. Hedge funds and other institutional investors own 93.36% of the company’s stock.
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About Patterson Companies
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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