Patterson Cos. (PDCO) PT Set at $48.00 by Robert W. Baird
Patterson Cos. (NASDAQ:PDCO) has been given a $48.00 price target by stock analysts at Robert W. Baird in a note issued to investors on Tuesday. The firm presently has a “hold” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 22.26% from the company’s previous close.
PDCO has been the topic of several other research reports. Jefferies Group reissued a “hold” rating on shares of Patterson Cos. in a research report on Thursday, August 4th. Off Wall Street started coverage on shares of Patterson Cos. in a research report on Monday, August 8th. They set a “sell” rating on the stock. TheStreet raised shares of Patterson Cos. from a “hold” rating to a “buy” rating in a research report on Friday, November 11th. Evercore ISI dropped their target price on shares of Patterson Cos. to $39.00 in a research report on Tuesday. Finally, Zacks Investment Research raised shares of Patterson Cos. from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.40.
Shares of Patterson Cos. (NASDAQ:PDCO) opened at 39.26 on Tuesday. The company has a market capitalization of $3.75 billion, a PE ratio of 19.36 and a beta of 0.97. The company has a 50 day moving average price of $45.11 and a 200 day moving average price of $46.67. Patterson Cos. has a 52 week low of $36.46 and a 52 week high of $50.40.
Patterson Cos. (NASDAQ:PDCO) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.04. Patterson Cos. had a net margin of 3.52% and a return on equity of 17.42%. The business earned $1.40 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business posted $0.56 EPS. Patterson Cos.’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Patterson Cos. will post $2.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, October 12th. This represents a $0.96 annualized dividend and a dividend yield of 2.45%. Patterson Cos.’s payout ratio is currently 47.29%.
In other news, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 40,153 shares in the company, valued at approximately $1,855,871.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.46% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDCO. Adage Capital Partners GP L.L.C. acquired a new position in Patterson Cos. during the first quarter worth $2,354,000. Legal & General Group Plc raised its position in Patterson Cos. by 1.7% in the first quarter. Legal & General Group Plc now owns 455,681 shares of the company’s stock worth $21,198,000 after buying an additional 7,468 shares in the last quarter. Envestnet Asset Management Inc. raised its position 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. Arizona State Retirement System raised its position in Patterson Cos. by 2.0% in the first quarter. Arizona State Retirement System now owns 71,023 shares of the company’s stock worth $3,305,000 after buying an additional 1,400 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its position in Patterson Cos. by 10.4% in the first quarter. First Republic Investment Management Inc. now owns 26,058 shares of the company’s stock worth $1,213,000 after buying an additional 2,462 shares in the last quarter. Institutional investors and hedge funds own 78.44% of the company’s stock.
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.
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