BidaskClub upgraded shares of Patterson Companies (NASDAQ:PDCO) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.
A number of other brokerages have also recently issued reports on PDCO. Zacks Investment Research upgraded Patterson Companies from a strong sell rating to a hold rating in a report on Thursday, January 4th. Stifel Nicolaus upgraded Patterson Companies from a sell rating to a hold rating and set a $34.00 target price for the company in a report on Wednesday, November 15th. Deutsche Bank initiated coverage on Patterson Companies in a report on Friday, December 8th. They set a hold rating and a $37.00 target price for the company. Jefferies Group reiterated a hold rating and set a $37.00 target price on shares of Patterson Companies in a report on Thursday, November 23rd. Finally, Morgan Stanley cut Patterson Companies from an equal weight rating to an underweight rating and set a $42.00 target price for the company. in a report on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. Patterson Companies presently has an average rating of Hold and a consensus target price of $39.96.
Shares of Patterson Companies (NASDAQ PDCO) traded down $0.18 during trading hours on Thursday, hitting $31.86. The stock had a trading volume of 982,500 shares, compared to its average volume of 1,429,152. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. Patterson Companies has a 1-year low of $28.77 and a 1-year high of $48.29. The stock has a market cap of $3,038.16, a PE ratio of 14.43, a P/E/G ratio of 1.79 and a beta of 0.89.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share (EPS) 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 firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. research analysts expect that Patterson Companies will post 2.11 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Thursday, January 11th. Patterson Companies’s dividend payout ratio is presently 62.28%.
In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $36.38, for a total value of $27,285.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDCO. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Patterson Companies by 46.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,878,432 shares of the company’s stock worth $188,551,000 after acquiring an additional 1,536,422 shares during the period. Alps Advisors Inc. purchased a new position in shares of Patterson Companies during the 4th quarter valued at approximately $48,813,000. Victory Capital Management Inc. boosted its stake in shares of Patterson Companies by 90,810.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,235,473 shares of the company’s stock valued at $44,638,000 after buying an additional 1,234,114 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Patterson Companies by 70.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,681,338 shares of the company’s stock valued at $60,747,000 after buying an additional 696,540 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of Patterson Companies by 152.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 885,174 shares of the company’s stock valued at $34,212,000 after buying an additional 535,029 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.
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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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