Patterson Cos. (PDCO) Sees Large Volume Increase
Patterson Cos. (NASDAQ:PDCO) shares saw strong trading volume on Wednesday . 1,015,795 shares traded hands during trading, a decline of 10% from the previous session’s volume of 1,122,673 shares.The stock last traded at $46.29 and had previously closed at $46.75.
Several research analysts have commented on the stock. Bank of America Corp. assumed coverage on shares of Patterson Cos. in a report on Wednesday. They set an “underperform” rating and a $44.00 price target for the company. Zacks Investment Research upgraded shares of Patterson Cos. from a “sell” rating to a “hold” rating in a report on Monday. Off Wall Street assumed coverage on shares of Patterson Cos. in a report on Monday, August 8th. They set a “sell” rating for the company. Jefferies Group reiterated a “hold” rating on shares of Patterson Cos. in a report on Thursday, August 4th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $55.00 price target on shares of Patterson Cos. in a report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.50.
The company has a market capitalization of $4.37 billion and a price-to-earnings ratio of 23.89. The stock’s 50-day moving average is $48.06 and its 200 day moving average is $46.16.
The business 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 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, July 13th.
In other Patterson Cos. 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 value of $36,645.00. Following the sale, 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 through this hyperlink.
An institutional investor recently raised its position in Patterson Cos. stock. Bank of Montreal Can raised its stake in Patterson Cos. (NASDAQ:PDCO) by 31.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,147 shares of the company’s stock after buying an additional 6,778 shares during the period. Bank of Montreal Can’s holdings in Patterson Cos. were worth $1,273,000 as of its most recent SEC filing.
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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