Patterson Cos. (PDCO) Sees Large Volume Increase
Shares of Patterson Cos. (NASDAQ:PDCO) saw unusually-strong trading volume on Monday . Approximately 1,045,065 shares traded hands during mid-day trading, an increase of 39% from the previous session’s volume of 752,170 shares.The stock last traded at $46.58 and had previously closed at $48.09.
Several equities analysts have recently issued reports on PDCO shares. Evercore ISI raised Patterson Cos. from a “hold” rating to a “buy” rating in a report on Wednesday, June 1st. Jefferies Group reaffirmed a “hold” rating on shares of Patterson Cos. in a report on Thursday. Stifel Nicolaus reaffirmed a “hold” rating on shares of Patterson Cos. in a report on Tuesday, May 31st. Off Wall Street started coverage on Patterson Cos. in a report on Monday. They issued a “sell” rating for the company. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $55.00 target price on shares of Patterson Cos. in a report on Monday, June 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $50.88.
The company’s 50-day moving average is $48.59 and its 200-day moving average is $45.83. The stock has a market cap of $4.42 billion and a price-to-earnings ratio of 24.19.
Patterson Cos. (NASDAQ:PDCO) last released its earnings results on Thursday, May 26th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $0.88 earnings per share. Patterson Cos.’s revenue for the quarter was up 40.5% on a year-over-year basis. Analysts expect that Patterson Cos. will post $2.66 EPS for the current 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 dividend of $0.24 per share. The ex-dividend date was Wednesday, July 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.07%.
In other news, CFO Ann B. Gugino sold 750 shares of Patterson Cos. 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 completion of the transaction, the chief financial officer now directly owns 36,187 shares in the company, valued at $1,768,096.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Several large investors have recently made changes to their positions in the stock. GAM Holding AG increased its stake in shares of Patterson Cos. by 23.3% in the fourth quarter. GAM Holding AG now owns 23,317 shares of the company’s stock valued at $1,055,000 after buying an additional 4,405 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake 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 valued at $3,052,000 after buying an additional 317 shares during the period. Mizuho Trust & Banking Co. Ltd. increased its stake in shares of Patterson Cos. by 2.8% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 140,188 shares of the company’s stock valued at $6,372,000 after buying an additional 3,756 shares during the period. Bank of Montreal Can increased its stake 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 valued at $1,273,000 after buying an additional 6,778 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Patterson Cos. by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 7,537,347 shares of the company’s stock valued at $340,764,000 after buying an additional 175,465 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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