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

A number of research firms have recently commented on PDCO. Credit Suisse Group AG restated a “buy” rating on shares of Patterson Cos. in a research report on Tuesday, May 31st. Robert W. Baird reaffirmed a “hold” rating on shares of Patterson Cos. in a research note on Monday, May 16th. Evercore ISI lowered shares of Patterson Cos. from a “buy” rating to a “hold” rating and decreased their price target for the company from $49.50 to $48.50 in a research note 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 research note on Tuesday, May 31st. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Patterson Cos. in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $50.88.

The firm has a market cap of $4.59 billion and a price-to-earnings ratio of 25.11. The firm has a 50-day moving average price of $48.61 and a 200-day moving average price of $45.70.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.00%.

In other news, CFO Ann B. Gugino sold 750 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $48.86, for a total transaction of $36,645.00. Following the transaction, the chief financial officer now directly owns 36,187 shares in the company, valued at $1,768,096.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Other hedge funds and institutional investors have recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC raised its position in shares of 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 period. I.G. Investment Management LTD. raised its position in shares of 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 period. Wells Fargo & Company MN raised its position in shares of 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 period. Bank of Montreal Can raised its position in shares of 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 period. Finally, Gulf International Bank UK Ltd raised its position in shares of 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 period.

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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