Patterson Companies, Inc. (NASDAQ:PDCO) Receives Consensus Recommendation of “Hold” from Analysts

Patterson Companies, Inc. (NASDAQ:PDCO) has been assigned an average rating of “Hold” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $30.25.

A number of equities analysts have commented on PDCO shares. Bank of America dropped their price objective on shares of Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Evercore ISI dropped their price target on shares of Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. Morgan Stanley dropped their price target on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, June 20th. JPMorgan Chase & Co. decreased their price objective on shares of Patterson Companies from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Finally, StockNews.com lowered shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st.

Patterson Companies Stock Up 1.5 %

Shares of PDCO stock opened at $24.12 on Friday. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 2.22 and a beta of 1.07. Patterson Companies has a one year low of $22.29 and a one year high of $34.53. The company’s fifty day moving average price is $24.72 and its 200-day moving average price is $26.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.75.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Tuesday, June 18th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). Patterson Companies had a net margin of 2.83% and a return on equity of 20.80%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The business’s revenue was down .1% on a year-over-year basis. Sell-side analysts expect that Patterson Companies will post 2.37 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, July 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.31%. Patterson Companies’s dividend payout ratio (DPR) is presently 52.00%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of Patterson Companies during the 4th quarter worth approximately $32,000. Spire Wealth Management purchased a new stake in Patterson Companies during the 1st quarter worth approximately $35,000. Anchor Investment Management LLC purchased a new stake in Patterson Companies during the 4th quarter worth approximately $55,000. Signaturefd LLC boosted its holdings in shares of Patterson Companies by 93.5% in the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Verity & Verity LLC purchased a new stake in shares of Patterson Companies in the 1st quarter valued at $69,000. Institutional investors own 85.43% of the company’s stock.

About Patterson Companies

Patterson Companies, Inc engages in the distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.