Shares of Patterson Cos. (NASDAQ:PDCO) dropped 2.9% on Thursday . The company traded as low as $46.83 and last traded at $47.75, with a volume of 1,027,401 shares. The stock had previously closed at $49.18.

PDCO has been the topic of a number of analyst reports. Robert W. Baird reaffirmed a “hold” rating on shares of Patterson Cos. in a report on Monday, May 16th. Evercore ISI lowered shares of Patterson Cos. from a “buy” rating to a “hold” rating and decreased their target price for the stock from $49.50 to $48.50 in a report on Friday, May 27th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “hold” rating on shares of Patterson Cos. in a report on Tuesday, May 31st. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Patterson Cos. in a report on Tuesday, May 31st. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Patterson Cos. in a report on Thursday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Patterson Cos. currently has a consensus rating of “Buy” and a consensus target price of $50.88.

The company has a 50-day moving average price of $48.60 and a 200-day moving average price of $45.68. The company has a market capitalization of $4.52 billion and a price-to-earnings ratio of 24.73.

Patterson Cos. (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, May 26th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. The business’s revenue was up 40.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. Equities analysts expect that Patterson Cos. will post $2.66 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Wednesday, July 13th.

In related news, CFO Ann B. Gugino sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $48.86, for a total value of $36,645.00. Following the transaction, the chief financial officer now owns 36,187 shares of the company’s stock, valued at $1,768,096.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Other institutional investors have bought and sold shares of the company. Dorsey & Whitney Trust CO LLC increased its position in Patterson Cos. by 0.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 67,492 shares of the company’s stock worth $3,052,000 after buying an additional 317 shares during the last quarter. I.G. Investment Management LTD. increased its position in Patterson Cos. by 24.6% in the fourth quarter. I.G. Investment Management LTD. now owns 185,826 shares of the company’s stock worth $8,401,000 after buying an additional 36,700 shares during the last quarter. Wells Fargo & Company MN increased its position in Patterson Cos. by 2.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,938,189 shares of the company’s stock worth $87,625,000 after buying an additional 48,300 shares during the last quarter. Bank of Montreal Can increased its position in Patterson Cos. by 31.7% in the fourth quarter. Bank of Montreal Can now owns 28,147 shares of the company’s stock worth $1,273,000 after buying an additional 6,778 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in Patterson Cos. by 5.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 27,334 shares of the company’s stock worth $1,236,000 after buying an additional 1,410 shares during the last quarter.

Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.

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