Traders Buy Patterson Cos. (PDCO) on Weakness
Traders purchased shares of Patterson Cos. (NASDAQ:PDCO) on weakness during trading hours on Wednesday. $28.34 million flowed into the stock on the tick-up and $14.54 million flowed out of the stock on the tick-down, for a money net flow of $13.80 million into the stock. Of all companies tracked, Patterson Cos. had the 14th highest net in-flow for the day. Patterson Cos. traded down ($1.01) for the day and closed at $45.74
A number of equities research analysts recently weighed in on the company. 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. Evercore ISI upgraded Patterson Cos. from a “hold” rating to a “buy” rating in a research report on Wednesday, June 1st. Credit Suisse Group AG restated a “buy” rating on shares of Patterson Cos. in a research report on Tuesday, May 31st. Finally, Off Wall Street assumed coverage on Patterson Cos. in a research report on Monday, August 8th. They set a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Patterson Cos. presently has an average rating of “Hold” and an average price target of $49.50.
The firm has a market cap of $4.37 billion and a P/E ratio of 23.89. The stock’s 50-day moving average price is $48.06 and its 200 day moving average price is $46.16.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders 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 2.10%.
In other news, CFO Ann B. Gugino sold 750 shares of the firm’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 transaction, the chief financial officer now directly owns 36,187 shares of the company’s stock, valued at $1,768,096.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
An institutional investor recently raised its position in Patterson Cos. stock. I.G. Investment Management LTD. increased its position in shares of Patterson Cos. (NASDAQ:PDCO) by 24.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 0.19% of Patterson Cos. worth $8,401,000 at the end of the most recent reporting 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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