Patterson Cos. (PDCO) Trading 1.8% Higher
Patterson Cos. (NASDAQ:PDCO) traded up 1.8% on Friday . The company traded as high as $46.39 and last traded at $46.37, with a volume of 606,588 shares trading hands. The stock had previously closed at $45.54.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Patterson Cos. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 16th. Off Wall Street assumed coverage on shares of Patterson Cos. in a research note on Monday, August 8th. They issued a “sell” rating on the stock. Jefferies Group reaffirmed a “hold” rating on shares of Patterson Cos. in a research note on Thursday, August 4th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $55.00 target price on shares of Patterson Cos. in a research note on Monday, June 27th. Finally, Evercore ISI raised shares of Patterson Cos. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $50.88.
The firm has a market cap of $4.45 billion and a price-to-earnings ratio of 24.32. The company’s 50-day moving average price is $48.22 and its 200 day moving average price is $46.07.
Patterson Cos. (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, May 26th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. The company’s revenue for the quarter was up 40.5% compared to the same quarter last year. On average, equities analysts predict that Patterson Cos. will post $2.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were paid a dividend of $0.24 per share. 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 2.06%.
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 stock was sold at an average price of $48.86, for a total transaction of $36,645.00. Following the completion of the sale, the chief financial officer now directly owns 36,187 shares in the company, valued at approximately $1,768,096.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Several large investors have recently added to or reduced their stakes in the stock. Dorsey & Whitney Trust CO LLC increased its stake in 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 in the last quarter. Bank of Montreal Can increased its stake in 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 in the last quarter. Finally, I.G. Investment Management LTD. increased its stake in 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 in the last quarter.
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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