Patterson Companies, Inc. (NASDAQ:PDCO) Receives Average Rating of “Hold” from Brokerages

Patterson Companies, Inc. (NASDAQ:PDCO) has earned an average rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $30.00.

A number of analysts have recently commented on the stock. StockNews.com cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Bank of America dropped their price target on shares of Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Evercore ISI dropped their price target on shares of Patterson Companies from $27.00 to $25.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Morgan Stanley dropped their price target on shares of 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of Patterson Companies from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $25.25 on Thursday. Patterson Companies has a 12 month low of $22.29 and a 12 month high of $34.53. The stock has a market cap of $2.22 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. The company has a current ratio of 1.33, a quick ratio of 0.75 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $24.35 and its 200-day moving average price is $26.28.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Tuesday, June 18th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). Patterson Companies had a net margin of 2.83% and a return on equity of 20.80%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm posted $0.84 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts expect that Patterson Companies will post 2.36 EPS for the current fiscal year.

Patterson Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Friday, July 19th. Patterson Companies’s dividend payout ratio (DPR) is 52.00%.

Insiders Place Their Bets

In other Patterson Companies news, insider Les B. Korsh sold 2,842 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the transaction, the insider now owns 103,765 shares of the company’s stock, valued at approximately $2,460,268.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Kevin Michael Barry sold 1,216 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.72, for a total transaction of $28,843.52. Following the completion of the sale, the chief financial officer now owns 41,605 shares of the company’s stock, valued at approximately $986,870.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Les B. Korsh sold 2,842 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 17,149 shares of company stock valued at $415,851. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Patterson Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in shares of Patterson Companies during the 2nd quarter valued at about $116,000. Nicola Wealth Management LTD. grew its stake in shares of Patterson Companies by 26.0% during the 2nd quarter. Nicola Wealth Management LTD. now owns 130,800 shares of the company’s stock valued at $3,155,000 after acquiring an additional 27,000 shares during the period. Van ECK Associates Corp grew its stake in shares of Patterson Companies by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 65,132 shares of the company’s stock valued at $1,571,000 after acquiring an additional 1,178 shares during the period. Innealta Capital LLC bought a new position in shares of Patterson Companies during the 2nd quarter valued at approximately $66,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Patterson Companies by 28.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,842 shares of the company’s stock valued at $479,000 after acquiring an additional 4,352 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Company Profile

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.