Patterson Cos. (NASDAQ:PDCO) posted its earnings results on Tuesday. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.04. Patterson Cos. had a return on equity of 17.42% and a net margin of 3.52%. The business earned $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Patterson Cos. updated its FY17 guidance to $2.25-2.35 EPS.

Patterson Cos. (NASDAQ:PDCO) opened at 39.56 on Wednesday. The stock’s 50 day moving average is $45.26 and its 200-day moving average is $46.72. Patterson Cos. has a 52-week low of $36.46 and a 52-week high of $50.40. The company has a market capitalization of $3.78 billion, a P/E ratio of 19.51 and a beta of 0.97.

Earnings History for Patterson Cos. (NASDAQ:PDCO)

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Wednesday, October 12th. Patterson Cos.’s dividend payout ratio is currently 47.29%.

A number of research firms recently weighed in on PDCO. Zacks Investment Research lowered shares of Patterson Cos. from a “hold” rating to a “sell” rating in a report on Tuesday, August 16th. Off Wall Street assumed coverage on shares of Patterson Cos. in a research report on Monday, August 8th. They issued a “sell” rating for the company. TheStreet downgraded shares of Patterson Cos. from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. Northcoast Research reaffirmed a “buy” rating on shares of Patterson Cos. in a research report on Tuesday, November 1st. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $49.00 price objective (down from $51.00) on shares of Patterson Cos. in a research report on Friday, August 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $46.60.

In related news, insider Ann B. Gugino sold 750 shares of Patterson Cos. stock in a transaction dated Monday, August 29th. The shares were 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 directly owns 40,153 shares of the company’s stock, valued at approximately $1,855,871.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.46% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. acquired a new position in shares of Patterson Cos. during the first quarter worth about $2,354,000. Envestnet Asset Management Inc. boosted its position in shares of 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 during the period. Toth Financial Advisory Corp boosted its position in shares of 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 during the period. CWM LLC boosted its position in shares of 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 during the period. Finally, SFE Investment Counsel boosted its position in shares of Patterson Cos. by 3.2% in the second quarter. SFE Investment Counsel now owns 41,255 shares of the company’s stock worth $1,976,000 after buying an additional 1,265 shares during the period. 78.44% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Patterson Cos. (PDCO) Posts Earnings Results, Misses Expectations By $0.04 EPS” was originally reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this news story can be viewed at https://www.thecerbatgem.com/2016/11/23/patterson-cos-pdco-posts-earnings-results-misses-expectations-by-0-04-eps.html.

Patterson Cos. Company Profile

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.

5 Day Chart for NASDAQ:PDCO

Receive News & Stock Ratings for Patterson Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Cos. and related stocks with our FREE daily email newsletter.