Patterson Cos. (PDCO) Sees Strong Trading Volume
Patterson Cos. (NASDAQ:PDCO) shares saw unusually-strong trading volume on Wednesday . Approximately 1,015,795 shares were traded during mid-day 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 issued reports on PDCO shares. Credit Suisse Group AG restated a “buy” rating and issued a $55.00 price target on shares of Patterson Cos. in a research report on Monday, June 27th. Evercore ISI upgraded shares of Patterson Cos. from a “hold” rating to a “buy” rating in a research report on Wednesday, June 1st. Jefferies Group restated a “hold” rating on shares of Patterson Cos. in a research report on Thursday, August 4th. Stifel Nicolaus restated a “hold” rating on shares of Patterson Cos. in a research report on Tuesday, May 31st. Finally, Robert W. Baird restated a “hold” rating on shares of Patterson Cos. in a research report on Monday, May 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.42.
The stock’s 50 day moving average price is $47.98 and its 200 day moving average price is $46.16. The company has a market capitalization of $4.41 billion and a P/E ratio of 24.13.
Patterson Cos. (NASDAQ:PDCO) last announced its earnings results on Thursday, August 25th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.51. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Patterson Cos.’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 earnings per share. On average, equities research analysts expect that Patterson Cos. will post $2.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, July 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.09%.
In other news, CFO Ann B. Gugino sold 750 shares of the company’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 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 Securities & Exchange Commission, which is available through the SEC website.
A hedge fund recently raised its stake in Patterson Cos. stock. I.G. Investment Management LTD. increased its position in Patterson Cos. (NASDAQ:PDCO) by 24.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,826 shares of the company’s stock after buying an additional 36,700 shares during the period. I.G. Investment Management LTD. owned approximately 0.19% of Patterson Cos. worth $8,401,000 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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