Patterson Cos. (NASDAQ:PDCO) Receives $49.00 Consensus Target Price from Brokerages
Patterson Cos. (NASDAQ:PDCO) has been given an average rating of “Hold” by the eleven ratings firms that are covering the firm. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $49.00.
Several brokerages recently commented on PDCO. TheStreet downgraded Patterson Cos. from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Robert W. Baird reaffirmed a “neutral” rating and set a $49.00 price objective (down previously from $51.00) on shares of Patterson Cos. in a research note on Friday, August 26th. Jefferies Group reaffirmed a “hold” rating on shares of Patterson Cos. in a research note on Thursday, August 4th. Evercore ISI raised Patterson Cos. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 1st. Finally, Off Wall Street began coverage on Patterson Cos. in a research note on Monday, August 8th. They set a “sell” rating on the stock.
In related news, insider Ann B. Gugino sold 750 shares of Patterson Cos. stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $46.22, for a total transaction of $34,665.00. Following the completion of the transaction, the insider now owns 40,153 shares in the company, valued at $1,855,871.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.
Large investors have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of Patterson Cos. by 7.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 27,250 shares of the company’s stock worth $1,232,000 after buying an additional 2,000 shares in the last quarter. Norges Bank purchased a new stake in shares of Patterson Cos. during the fourth quarter worth about $49,779,000. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Patterson Cos. by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 70,473 shares of the company’s stock worth $3,280,000 after buying an additional 2,098 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Patterson Cos. during the first quarter worth about $413,000. Finally, Virginia Retirement System purchased a new stake in shares of Patterson Cos. during the first quarter worth about $6,618,000. Institutional investors own 77.29% of the company’s stock.
Patterson Cos. (NASDAQ:PDCO) opened at 46.18 on Monday. The stock’s 50 day moving average price is $46.17 and its 200-day moving average price is $46.58. The stock has a market cap of $4.41 billion, a P/E ratio of 22.77 and a beta of 0.88. Patterson Cos. has a one year low of $38.51 and a one year high of $50.40.
Patterson Cos. (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, August 25th. The company reported $0.51 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. Patterson Cos. had a return on equity of 17.42% and a net margin of 3.52%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. On average, analysts predict that Patterson Cos. will post $2.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, October 12th. Patterson Cos.’s payout ratio is currently 47.29%.
About Patterson Cos.
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.
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