Insider Selling: Patterson Companies, Inc. (NASDAQ:PDCO) CEO Sells $139,296.25 in Stock

Patterson Companies, Inc. (NASDAQ:PDCO) CEO Donald Zurbay sold 5,875 shares of Patterson Companies stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $139,296.25. Following the sale, the chief executive officer now owns 237,288 shares in the company, valued at $5,626,098.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Patterson Companies Trading Down 0.7 %

Shares of Patterson Companies stock opened at $23.13 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.23 and a beta of 1.06. The business has a fifty day simple moving average of $24.44 and a 200-day simple moving average of $26.67. Patterson Companies, Inc. has a fifty-two week low of $22.29 and a fifty-two week high of $34.53.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Tuesday, June 18th. The company reported $0.82 earnings per share 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 company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. On average, equities analysts forecast that Patterson Companies, Inc. will post 2.37 EPS for the current fiscal year.

Patterson Companies Announces Dividend

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

Analysts Set New Price Targets

PDCO has been the topic of several analyst reports. StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Evercore ISI lowered their price target on Patterson Companies from $27.00 to $25.00 and set an “in-line” rating for the company in a report on Tuesday. Morgan Stanley lowered their price target on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, June 20th. JPMorgan Chase & Co. lowered their price objective on Patterson Companies from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Finally, Bank of America lowered their price objective on 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

Institutional Trading of Patterson Companies

Several institutional investors have recently modified their holdings of the company. HBK Sorce Advisory LLC raised its position in shares of Patterson Companies by 4.8% during the fourth quarter. HBK Sorce Advisory LLC now owns 7,432 shares of the company’s stock worth $211,000 after purchasing an additional 341 shares during the period. Strs Ohio raised its position in shares of Patterson Companies by 1.4% during the fourth quarter. Strs Ohio now owns 35,300 shares of the company’s stock worth $1,004,000 after purchasing an additional 500 shares during the period. Amalgamated Bank raised its position in shares of Patterson Companies by 1.0% during the fourth quarter. Amalgamated Bank now owns 49,989 shares of the company’s stock worth $1,422,000 after purchasing an additional 503 shares during the period. Ariel Investments LLC raised its position in shares of Patterson Companies by 7.0% during the first quarter. Ariel Investments LLC now owns 8,976 shares of the company’s stock worth $248,000 after purchasing an additional 586 shares during the period. Finally, US Bancorp DE raised its position in shares of Patterson Companies by 2.1% during the fourth quarter. US Bancorp DE now owns 29,863 shares of the company’s stock worth $850,000 after purchasing an additional 610 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

About Patterson Companies

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.