Wesbanco Bank Inc. acquired a new position in Patterson Companies, Inc. (NASDAQ:PDCO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 41,341 shares of the company’s stock, valued at approximately $919,000.
Several other institutional investors also recently made changes to their positions in PDCO. Advisory Services Network LLC grew its stake in shares of Patterson Companies by 346.8% in the fourth quarter. Advisory Services Network LLC now owns 3,454 shares of the company’s stock worth $125,000 after acquiring an additional 2,681 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Patterson Companies in the fourth quarter worth $209,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Patterson Companies in the fourth quarter worth $212,000. Profund Advisors LLC acquired a new stake in shares of Patterson Companies in the first quarter worth $213,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Patterson Companies in the first quarter worth $224,000. Institutional investors and hedge funds own 90.27% of the company’s stock.
Several equities research analysts have recently issued reports on PDCO shares. BidaskClub upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Robert W. Baird downgraded shares of Patterson Companies from an “outperform” rating to a “neutral” rating in a research note on Thursday, March 1st. Evercore ISI downgraded shares of Patterson Companies from an “in-line” rating to an “underperform” rating in a research note on Thursday, March 1st. Northcoast Research set a $38.00 price objective on shares of Patterson Companies and gave the stock a “buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Monday, March 5th. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Patterson Companies has an average rating of “Hold” and an average target price of $33.09.
Shares of Patterson Companies opened at $23.28 on Friday, MarketBeat Ratings reports. The firm has a market capitalization of $2.13 billion, a P/E ratio of 9.95, a PEG ratio of 2.16 and a beta of 1.12. Patterson Companies, Inc. has a one year low of $20.57 and a one year high of $48.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.80 and a quick ratio of 1.00.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, June 21st. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Patterson Companies had a return on equity of 13.85% and a net margin of 4.39%. Patterson Companies’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.69 earnings per share. sell-side analysts predict that Patterson Companies, Inc. will post 1.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 27th. Shareholders of record on Friday, July 13th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, July 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.47%. Patterson Companies’s payout ratio is presently 44.44%.
Patterson Companies declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 13th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
About Patterson Companies
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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