Bank of America upgraded shares of Patterson Companies (NASDAQ:PDCO) from an underperform rating to a neutral rating in a research note released on Thursday, Briefing.com Automated Import reports. They currently have $22.50 target price on the stock, up from their previous target price of $19.50.
PDCO has been the subject of a number of other research reports. ValuEngine upgraded Patterson Companies from a sell rating to a hold rating in a report on Wednesday, October 2nd. Guggenheim upgraded Patterson Companies from a neutral rating to a buy rating and set a $25.00 price target for the company in a report on Tuesday. Cfra upgraded Patterson Companies from a strong sell rating to a hold rating in a report on Wednesday, December 18th. William Blair reiterated a market perform rating on shares of Patterson Companies in a report on Wednesday, December 4th. Finally, BidaskClub lowered Patterson Companies from a strong-buy rating to a buy rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $19.61.
Shares of NASDAQ PDCO traded up $0.14 during trading hours on Thursday, reaching $21.81. The stock had a trading volume of 810,876 shares, compared to its average volume of 1,075,411. The company has a current ratio of 1.59, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 2.41 and a beta of 1.37. The business’s fifty day moving average price is $20.79 and its two-hundred day moving average price is $19.13. Patterson Companies has a 52-week low of $15.73 and a 52-week high of $25.25.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.04 dividend on an annualized basis and a yield of 4.77%. Patterson Companies’s dividend payout ratio is currently 74.29%.
A number of institutional investors have recently bought and sold shares of the business. First Trust Advisors LP lifted its holdings in Patterson Companies by 0.8% during the third quarter. First Trust Advisors LP now owns 100,827 shares of the company’s stock worth $1,797,000 after buying an additional 758 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in shares of Patterson Companies by 3.8% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 24,520 shares of the company’s stock worth $437,000 after purchasing an additional 906 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Patterson Companies by 2.2% during the third quarter. Mason Street Advisors LLC now owns 45,098 shares of the company’s stock worth $804,000 after purchasing an additional 966 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of Patterson Companies by 5.7% during the second quarter. Natixis Advisors L.P. now owns 24,875 shares of the company’s stock worth $570,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Comerica Bank increased its position in shares of Patterson Companies by 3.1% during the third quarter. Comerica Bank now owns 50,547 shares of the company’s stock worth $840,000 after purchasing an additional 1,503 shares in the last quarter. Institutional investors own 93.55% 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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