Patterson Cos.’s (PDCO) Sell Rating Reiterated at Off Wall Street
PDCO has been the subject of several other reports. Zacks Investment Research lowered shares of Patterson Cos. from a hold rating to a sell rating in a research report on Tuesday, August 16th. TheStreet lowered shares of Patterson Cos. from a buy rating to a hold rating in a report on Thursday, September 1st. Northcoast Research restated a buy rating on shares of Patterson Cos. in a report on Tuesday, November 1st. Robert W. Baird set a $48.00 price objective on shares of Patterson Cos. and gave the stock a hold rating in a report on Tuesday, November 22nd. Finally, Evercore ISI restated a hold rating and issued a $48.00 price objective (down from $49.00) on shares of Patterson Cos. in a report on Friday, August 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $46.67.
Shares of Patterson Cos. (NASDAQ:PDCO) opened at 38.80 on Wednesday. The firm has a market capitalization of $3.70 billion, a PE ratio of 19.13 and a beta of 0.97. The firm has a 50-day moving average of $44.75 and a 200-day moving average of $46.63. Patterson Cos. has a 12-month low of $36.46 and a 12-month high of $50.40.
Patterson Cos. (NASDAQ:PDCO) last announced its earnings results on Tuesday, November 22nd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by $0.04. Patterson Cos. had a net margin of 3.69% and a return on equity of 17.17%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Patterson Cos. will post $2.57 earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. purchased a new stake in Patterson Cos. during the first quarter worth approximately $2,354,000. Legal & General Group Plc raised its stake in Patterson Cos. by 1.7% in the first quarter. Legal & General Group Plc now owns 455,681 shares of the company’s stock worth $21,198,000 after buying an additional 7,468 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Patterson Cos. by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 62,504 shares of the company’s stock worth $2,908,000 after buying an additional 5,602 shares in the last quarter. Arizona State Retirement System raised its stake in Patterson Cos. by 2.0% in the first quarter. Arizona State Retirement System now owns 71,023 shares of the company’s stock worth $3,305,000 after buying an additional 1,400 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its stake in Patterson Cos. by 10.4% in the first quarter. First Republic Investment Management Inc. now owns 26,058 shares of the company’s stock worth $1,213,000 after buying an additional 2,462 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.
About Patterson Cos.
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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