Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been given a consensus rating of “Hold” by the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $36.67.
A number of research analysts have recently weighed in on PDCO shares. Morgan Stanley cut Patterson Companies from an “equal weight” rating to an “underweight” rating and set a $42.00 price target for the company. in a research report on Wednesday, December 6th. Deutsche Bank started coverage on Patterson Companies in a research report on Friday, December 8th. They issued a “hold” rating and a $37.00 price target for the company. BidaskClub cut Patterson Companies from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Tuesday, January 23rd. Finally, Robert W. Baird cut Patterson Companies from an “outperform” rating to a “neutral” rating in a research report on Thursday, March 1st.
Shares of PDCO stock traded down $0.06 during mid-day trading on Friday, reaching $22.23. The stock had a trading volume of 2,604,231 shares, compared to its average volume of 4,373,823. Patterson Companies has a 12-month low of $21.36 and a 12-month high of $48.29. The stock has a market cap of $2,103.71, a P/E ratio of 9.50, a P/E/G ratio of 1.77 and a beta of 0.98. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.64.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Thursday, April 12th. Patterson Companies’s dividend payout ratio is presently 44.44%.
Patterson Companies announced that its board has approved a share repurchase program on Tuesday, March 13th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $36.38, for a total transaction of $27,285.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.46% of the company’s stock.
A number of institutional investors have recently bought and sold shares of PDCO. Amica Retiree Medical Trust grew its holdings in Patterson Companies by 433.8% in the 3rd quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock valued at $116,000 after buying an additional 2,429 shares during the period. Advisory Services Network LLC grew its holdings in Patterson Companies by 346.8% in the 4th quarter. Advisory Services Network LLC now owns 3,454 shares of the company’s stock valued at $125,000 after buying an additional 2,681 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in Patterson Companies in the 4th quarter valued at about $145,000. Two Sigma Securities LLC purchased a new stake in Patterson Companies in the 4th quarter valued at about $209,000. Finally, IFG Advisory LLC purchased a new stake in Patterson Companies in the 4th quarter valued at about $212,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.
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Patterson Companies Company Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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