Patterson Companies, Inc. (NASDAQ:PDCO) Rating Lowered to Strong Sell at BidaskClub
Patterson Companies, Inc. (NASDAQ:PDCO) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.
PDCO has been the topic of several other research reports. Stifel Nicolaus lowered shares of Patterson Companies from a “hold” rating to a “sell” rating and dropped their target price for the company from $47.43 to $39.00 in a report on Thursday, July 6th. Zacks Investment Research lowered shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Craig Hallum initiated coverage on shares of Patterson Companies in a report on Tuesday, April 11th. They issued a “hold” rating on the stock. UBS AG lowered shares of Patterson Companies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $44.50 to $40.00 in a report on Tuesday, July 11th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $40.00 target price on shares of Patterson Companies in a report on Monday, May 15th. Six investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $43.78.
Patterson Companies (NASDAQ PDCO) traded down 1.11% during mid-day trading on Friday, hitting $39.23. 1,086,763 shares of the company were exchanged. The company has a market capitalization of $3.68 billion, a P/E ratio of 21.92 and a beta of 0.95. Patterson Companies has a 12-month low of $36.46 and a 12-month high of $49.26. The company’s 50-day moving average is $44.99 and its 200 day moving average is $44.27.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. Patterson Companies’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Analysts expect that Patterson Companies will post $2.32 EPS for the current year.
In other news, Director Scott P. Anderson sold 10,000 shares of the company’s stock in a transaction dated 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 SEC, which is accessible through this link. Also, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total transaction of $31,800.00. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock worth $532,273 in the last quarter. Company insiders own 0.46% of the company’s stock.
Several institutional investors have recently made changes to their positions in PDCO. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in 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 valued at $104,000 after buying an additional 500 shares during the last quarter. Invictus RG acquired a new stake in Patterson Companies during the first quarter valued at approximately $119,000. Benjamin F. Edwards & Company Inc. increased its stake in Patterson Companies by 29.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,079 shares of the company’s stock valued at $139,000 after buying an additional 698 shares during the last quarter. Nordea Investment Management AB increased its stake in Patterson Companies by 48.4% in the first quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock valued at $169,000 after buying an additional 1,218 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in Patterson Companies during the second quarter valued at approximately $188,000. Hedge funds and other institutional investors own 89.74% of the company’s stock.
About Patterson Companies
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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