Patterson Companies, Inc. (NASDAQ:PDCO) Insider Sells $67,383.82 in Stock

Patterson Companies, Inc. (NASDAQ:PDCOGet Free Report) insider Les B. Korsh sold 2,842 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $67,383.82. Following the sale, the insider now directly owns 103,765 shares of the company’s stock, valued at approximately $2,460,268.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Patterson Companies Stock Down 0.7 %

Shares of NASDAQ PDCO opened at $23.13 on Thursday. The stock has a fifty day moving average price of $24.44 and a 200 day moving average price of $26.67. The company has a market cap of $2.03 billion, a P/E ratio of 11.57, a P/E/G ratio of 2.23 and a beta of 1.06. Patterson Companies, Inc. has a 12-month low of $22.29 and a 12-month high of $34.53. The company has a current ratio of 1.33, a quick ratio of 0.75 and a debt-to-equity ratio of 0.33.

Patterson Companies (NASDAQ:PDCOGet Free Report) last issued its quarterly earnings data on Tuesday, June 18th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Patterson Companies had a net margin of 2.83% and a return on equity of 20.80%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. Research analysts anticipate that Patterson Companies, Inc. will post 2.37 EPS for the current fiscal year.

Patterson Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, July 19th. This represents a $1.04 dividend on an annualized basis and a yield of 4.50%. Patterson Companies’s dividend payout ratio (DPR) is presently 52.00%.

Hedge Funds Weigh In On Patterson Companies

Several institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC raised its holdings in Patterson Companies by 655.0% in the second quarter. CWM LLC now owns 4,492 shares of the company’s stock valued at $108,000 after acquiring an additional 3,897 shares in the last quarter. Mather Group LLC. lifted its holdings in Patterson Companies by 1,376.1% during the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock worth $39,000 after buying an additional 1,500 shares during the last quarter. EMC Capital Management grew its position in shares of Patterson Companies by 327.9% in the 1st quarter. EMC Capital Management now owns 16,053 shares of the company’s stock worth $444,000 after acquiring an additional 12,301 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Patterson Companies by 51.1% in the 1st quarter. Tidal Investments LLC now owns 68,507 shares of the company’s stock valued at $1,894,000 after acquiring an additional 23,175 shares during the last quarter. Finally, Caxton Associates LP raised its position in shares of Patterson Companies by 556.7% during the 1st quarter. Caxton Associates LP now owns 47,626 shares of the company’s stock valued at $1,317,000 after acquiring an additional 40,374 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley reduced their price target on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. StockNews.com downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. JPMorgan Chase & Co. decreased their target price on shares of Patterson Companies from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Evercore ISI dropped their price target on shares of Patterson Companies from $27.00 to $25.00 and set an “in-line” rating for the company in a research report on Tuesday. Finally, Bank of America lowered their price objective on shares of Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

Read Our Latest Analysis on Patterson Companies

Patterson Companies Company Profile

(Get Free Report)

Patterson Companies, Inc engages in the distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.

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Insider Buying and Selling by Quarter for Patterson Companies (NASDAQ:PDCO)

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