Patterson Companies, Inc. (NASDAQ:PDCO) – Equities researchers at Northcoast Research raised their Q4 2018 EPS estimates for Patterson Companies in a report released on Tuesday. Northcoast Research analyst E. Snyder now anticipates that the company will post earnings of $0.73 per share for the quarter, up from their prior estimate of $0.72. Northcoast Research also issued estimates for Patterson Companies’ Q3 2019 earnings at $0.69 EPS and Q4 2019 earnings at $0.80 EPS.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Patterson Companies from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, May 2nd. BidaskClub raised Patterson Companies from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $40.00 target price on shares of Patterson Companies in a research report on Monday, May 15th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $50.00 target price (up previously from $45.00) on shares of Patterson Companies in a research report on Thursday, July 13th. Finally, UBS AG downgraded Patterson Companies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $44.50 to $40.00 in a research report on Tuesday, July 11th. Six analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Patterson Companies presently has an average rating of “Hold” and an average target price of $43.78.
Shares of Patterson Companies (NASDAQ:PDCO) traded down 2.54% during mid-day trading on Thursday, reaching $37.16. The company’s stock had a trading volume of 649,565 shares. The company’s 50-day moving average is $43.65 and its 200 day moving average is $44.14. Patterson Companies has a 1-year low of $36.46 and a 1-year high of $49.26. The firm has a market capitalization of $3.49 billion, a P/E ratio of 20.76 and a beta of 0.95.
Several hedge funds have recently made changes to their positions in PDCO. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Patterson Companies by 27.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock worth $104,000 after buying an additional 500 shares during the last quarter. Invictus RG bought a new stake in shares of Patterson Companies during the first quarter worth $119,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Patterson Companies by 29.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,079 shares of the company’s stock worth $139,000 after buying an additional 698 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Patterson Companies by 15.9% in the second quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after buying an additional 415 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Patterson Companies by 48.4% in the first quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock worth $169,000 after buying an additional 1,218 shares during the last quarter. Institutional investors and hedge funds own 89.63% of the company’s stock.
In other 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 transaction of $467,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total value of $32,872.50. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock worth $532,273 in the last 90 days. 0.46% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Wednesday, July 12th. Patterson Companies’s payout ratio is currently 58.10%.
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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