Patterson Companies, Inc. (PDCO) Raised to “Buy” at BidaskClub
BidaskClub upgraded shares of Patterson Companies, Inc. (NASDAQ:PDCO) from a hold rating to a buy rating in a report published on Thursday morning.
A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Patterson Companies from a sell rating to a hold rating in a research note on Wednesday, May 31st. Jefferies Group LLC reaffirmed a hold rating and issued a $40.00 price objective on shares of Patterson Companies in a research note on Monday, May 15th. Craig Hallum assumed coverage on shares of Patterson Companies in a research note on Tuesday, April 11th. They issued a hold rating for the company. Deutsche Bank AG assumed coverage on shares of Patterson Companies in a research note on Wednesday, March 15th. They issued a hold rating and a $45.00 price objective for the company. Finally, Evercore ISI lowered shares of Patterson Companies from a hold rating to an underperform rating in a research note on Friday, March 3rd. Three 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 stock. Patterson Companies currently has a consensus rating of Hold and a consensus price target of $43.63.
Patterson Companies (PDCO) opened at 47.23 on Thursday. The firm’s 50 day moving average price is $44.87 and its 200-day moving average price is $43.46. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 26.39 and a beta of 0.98. Patterson Companies has a 52 week low of $36.46 and a 52 week high of $50.05.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, May 25th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s revenue was down .6% on a year-over-year basis. Analysts expect that Patterson Companies will post $2.32 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, July 12th. Patterson Companies’s dividend payout ratio (DPR) is currently 58.10%.
In other Patterson Companies news, Director Scott P. Anderson sold 10,000 shares of Patterson Companies stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total transaction of $467,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total transaction of $32,872.50. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.
Large investors have recently modified their holdings of the stock. Proficio Capital Partners LLC raised its stake in shares of Patterson Companies by 19.9% in the first quarter. Proficio Capital Partners LLC now owns 13,190 shares of the company’s stock worth $568,000 after buying an additional 2,190 shares during the period. Achmea Investment Management B.V. bought a new stake in shares of Patterson Companies during the first quarter worth about $1,505,000. Bank of Nova Scotia bought a new stake in shares of Patterson Companies during the first quarter worth about $766,000. Summit Global Investments raised its stake in shares of Patterson Companies by 5.3% in the first quarter. Summit Global Investments now owns 95,837 shares of the company’s stock worth $4,335,000 after buying an additional 4,827 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Patterson Companies by 27.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock worth $104,000 after buying an additional 500 shares during the period. 89.62% of the stock is owned by institutional investors.
Patterson Companies Company Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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