Donald Zurbay Sells 1,962 Shares of Patterson Companies, Inc. (NASDAQ:PDCO) Stock

Patterson Companies, Inc. (NASDAQ:PDCO) CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the sale, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at $5,140,746.88. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Patterson Companies Trading Up 0.5 %

Shares of PDCO stock opened at $23.11 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The firm has a market cap of $2.04 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. The company has a 50-day moving average of $21.05 and a two-hundred day moving average of $22.77. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $30.68.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS. On average, analysts predict that Patterson Companies, Inc. will post 2.29 EPS for the current year.

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were given a dividend of $0.26 per share. The ex-dividend date was Friday, October 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.50%. Patterson Companies’s dividend payout ratio is presently 60.82%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America dropped their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Evercore ISI dropped their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. Stifel Nicolaus dropped their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, December 5th. UBS Group dropped their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Mizuho initiated coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price objective for the company. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Patterson Companies has a consensus rating of “Hold” and an average target price of $26.10.

Institutional Trading of Patterson Companies

Several hedge funds have recently made changes to their positions in PDCO. CWM LLC lifted its position in shares of Patterson Companies by 655.0% during the second quarter. CWM LLC now owns 4,492 shares of the company’s stock worth $108,000 after purchasing an additional 3,897 shares in the last quarter. SG Americas Securities LLC raised its holdings in Patterson Companies by 70.4% in the second quarter. SG Americas Securities LLC now owns 15,420 shares of the company’s stock valued at $372,000 after acquiring an additional 6,370 shares in the last quarter. Welch Group LLC raised its holdings in Patterson Companies by 40.0% in the second quarter. Welch Group LLC now owns 10,500 shares of the company’s stock valued at $253,000 after acquiring an additional 3,000 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Patterson Companies in the second quarter valued at approximately $1,777,000. Finally, Family Firm Inc. acquired a new stake in Patterson Companies in the second quarter valued at approximately $45,000. Institutional investors and hedge funds 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.