Patterson Cos. (PDCO) Rating Increased to Buy at TheStreet
Patterson Cos. (NASDAQ:PDCO) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other analysts also recently commented on PDCO. Jefferies Group reaffirmed a “hold” rating on shares of Patterson Cos. in a research note on Thursday, August 4th. Evercore ISI reaffirmed a “hold” rating and set a $48.00 price objective (down from $49.00) on shares of Patterson Cos. in a research note on Friday, August 26th. Northcoast Research reaffirmed a “buy” rating on shares of Patterson Cos. in a research note on Tuesday, November 1st. Zacks Investment Research raised Patterson Cos. from a “sell” rating to a “hold” rating in a research note on Thursday, October 13th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $49.00 price objective (down from $51.00) on shares of Patterson Cos. in a research note on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $48.40.
Shares of Patterson Cos. (NASDAQ:PDCO) opened at 47.88 on Friday. The stock has a 50 day moving average price of $45.17 and a 200-day moving average price of $46.58. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 23.61 and a beta of 0.97. Patterson Cos. has a 52 week low of $38.51 and a 52 week high of $50.40.
Patterson Cos. (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, August 25th. The company reported $0.51 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The firm earned $1.32 billion during 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 period in the prior year, the business earned $0.47 EPS. On average, analysts anticipate that Patterson Cos. will post $2.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Wednesday, October 12th. Patterson Cos.’s dividend payout ratio is currently 47.29%.
In related news, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $46.22, for a total value of $34,665.00. Following the sale, the insider now owns 40,153 shares in the company, valued at approximately $1,855,871.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. purchased a new stake in Patterson Cos. during the first quarter worth $2,354,000. Envestnet Asset Management Inc. boosted its stake in Patterson Cos. by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 62,504 shares of the company’s stock worth $2,908,000 after buying an additional 5,602 shares in the last quarter. Toth Financial Advisory Corp boosted its stake in Patterson Cos. by 3.1% in the second quarter. Toth Financial Advisory Corp now owns 102,899 shares of the company’s stock worth $4,928,000 after buying an additional 3,088 shares in the last quarter. Geode Capital Management LLC boosted its stake in Patterson Cos. by 1.5% in the first quarter. Geode Capital Management LLC now owns 783,712 shares of the company’s stock worth $36,400,000 after buying an additional 11,454 shares in the last quarter. Finally, CWM LLC boosted its stake in Patterson Cos. by 43,314.0% in the second quarter. CWM LLC now owns 369,453 shares of the company’s stock worth $17,693,000 after buying an additional 368,602 shares in the last quarter. Institutional investors and hedge funds own 76.53% of the company’s stock.
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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