Patterson Companies (PDCO) Upgraded at ValuEngine

ValuEngine upgraded shares of Patterson Companies (NASDAQ:PDCO) from a sell rating to a hold rating in a report published on Saturday morning.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley dropped their target price on Patterson Companies from $21.00 to $19.00 and set an underweight rating for the company in a report on Friday, August 31st. Barclays dropped their target price on Patterson Companies from $23.00 to $20.00 and set an underweight rating for the company in a report on Friday, August 31st. Zacks Investment Research downgraded Patterson Companies from a buy rating to a sell rating in a report on Monday, August 27th. BidaskClub raised Patterson Companies from a hold rating to a buy rating in a report on Wednesday, August 22nd. Finally, Leerink Swann assumed coverage on Patterson Companies in a report on Friday, August 10th. They set a market perform rating and a $25.00 target price for the company. Six analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $26.19.

Shares of Patterson Companies stock opened at $25.10 on Friday. Patterson Companies has a 1 year low of $20.22 and a 1 year high of $40.36. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 2.47 and a beta of 1.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.79 and a quick ratio of 0.87.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.08). Patterson Companies had a net margin of 3.01% and a return on equity of 9.71%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the business earned $0.44 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. sell-side analysts forecast that Patterson Companies will post 1.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, October 12th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Thursday, October 11th. Patterson Companies’s payout ratio is currently 61.90%.

Several hedge funds and other institutional investors have recently modified their holdings of PDCO. New England Asset Management Inc. bought a new position in shares of Patterson Companies in the second quarter worth $149,000. Tyers Asset Management LLC increased its position in shares of Patterson Companies by 58.0% in the second quarter. Tyers Asset Management LLC now owns 6,624 shares of the company’s stock worth $150,000 after purchasing an additional 2,432 shares during the period. Riverhead Capital Management LLC increased its position in shares of Patterson Companies by 62.2% in the second quarter. Riverhead Capital Management LLC now owns 7,300 shares of the company’s stock worth $165,000 after purchasing an additional 2,800 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Patterson Companies by 52.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,369 shares of the company’s stock worth $190,000 after purchasing an additional 2,864 shares during the period. Finally, First Republic Investment Management Inc. bought a new position in shares of Patterson Companies in the second quarter worth $202,000. Institutional investors own 90.51% of the company’s stock.

About Patterson Companies

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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