Patterson Companies, Inc. (PDCO) Rating Reiterated by Credit Suisse Group
Credit Suisse Group reaffirmed their outperform rating on shares of Patterson Companies, Inc. (NASDAQ:PDCO) in a research note released on Thursday, July 13th, The Fly reports. They currently have a $50.00 price objective on the stock, up from their previous price objective of $45.00.
A number of other research firms have also recently weighed in on PDCO. Jefferies Group LLC reaffirmed a hold rating and issued a $40.00 price target on shares of Patterson Companies in a report on Wednesday, March 29th. BidaskClub raised Patterson Companies from a hold rating to a buy rating in a report on Thursday, June 15th. Zacks Investment Research cut Patterson Companies from a buy rating to a hold rating in a report on Monday, May 15th. Stifel Nicolaus cut Patterson Companies from a hold rating to a sell rating and reduced their price target for the stock from $47.43 to $39.00 in a report on Thursday, July 6th. Finally, UBS AG cut Patterson Companies from a neutral rating to a sell rating and reduced their price target for the stock from $44.50 to $40.00 in a report on Tuesday, July 11th. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Patterson Companies has a consensus rating of Hold and an average price target of $43.78.
Shares of Patterson Companies (NASDAQ PDCO) opened at 38.72 on Thursday. Patterson Companies has a 52 week low of $36.46 and a 52 week high of $49.26. The stock’s 50 day moving average price is $44.38 and its 200 day moving average price is $44.17. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 21.63 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, May 25th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. Patterson Companies’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. Equities research analysts anticipate that Patterson Companies will post $2.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, July 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.69%. Patterson Companies’s payout ratio is currently 58.10%.
In related news, Director Scott P. Anderson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total value of $467,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total value of $31,800.00. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock valued at $532,273 in the last three months. Insiders own 0.46% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Jarislowsky Fraser Ltd boosted its stake in Patterson Companies by 0.3% in the second quarter. Jarislowsky Fraser Ltd now owns 14,321 shares of the company’s stock valued at $672,000 after buying an additional 42 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Patterson Companies by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock valued at $476,000 after buying an additional 70 shares during the last quarter. Lowe Brockenbrough & Co. Inc. raised its position in shares of Patterson Companies by 0.6% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 12,475 shares of the company’s stock valued at $586,000 after buying an additional 70 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Patterson Companies by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 20,363 shares of the company’s stock valued at $956,000 after buying an additional 112 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of Patterson Companies by 1.4% in the first quarter. LS Investment Advisors LLC now owns 9,631 shares of the company’s stock valued at $436,000 after buying an additional 134 shares during the last quarter. 89.63% of the stock is owned by hedge funds and other institutional investors.
Patterson Companies Company Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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