Patterson Cos. (PDCO) Given New $39.00 Price Target at Evercore ISI
PDCO has been the subject of a number of other research reports. Zacks Investment Research downgraded Patterson Cos. from a hold rating to a sell rating in a report on Wednesday, September 14th. Northcoast Research reissued a buy rating on shares of Patterson Cos. in a report on Tuesday, November 1st. Bank of America Corp. started coverage on Patterson Cos. in a report on Wednesday, August 24th. They issued an underperform rating and a $44.00 price target for the company. TheStreet raised Patterson Cos. from a hold rating to a buy rating in a report on Friday, November 11th. Finally, Off Wall Street started coverage on Patterson Cos. in a report on Monday, August 8th. They issued a sell rating for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Patterson Cos. presently has a consensus rating of Hold and an average price target of $46.40.
Patterson Cos. (NASDAQ:PDCO) opened at 39.83 on Tuesday. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 19.64 and a beta of 0.97. The stock has a 50 day moving average price of $45.26 and a 200-day moving average price of $46.72. Patterson Cos. has a 12-month low of $36.46 and a 12-month high of $50.40.
Patterson Cos. (NASDAQ:PDCO) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by $0.04. The business earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Patterson Cos. had a net margin of 3.52% and a return on equity of 17.42%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 EPS. Equities analysts forecast that Patterson Cos. will post $2.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend 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 firm’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 directly 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 can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. boosted its stake in Patterson Cos. by 46.8% in the third quarter. D.A. Davidson & CO. now owns 10,908 shares of the company’s stock valued at $498,000 after buying an additional 3,480 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Patterson Cos. by 1.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 158,860 shares of the company’s stock valued at $7,298,000 after buying an additional 2,620 shares in the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of Patterson Cos. by 116.2% in the third quarter. Quantitative Systematic Strategies LLC now owns 27,647 shares of the company’s stock valued at $1,258,000 after buying an additional 14,862 shares during the period. Cullen Capital Management LLC purchased a new position in shares of Patterson Cos. during the third quarter valued at about $585,000. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of Patterson Cos. by 45.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 12,439 shares of the company’s stock valued at $571,000 after buying an additional 3,880 shares during the period. Hedge funds and other institutional investors own 78.44% 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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