Piper Jaffray Reaffirms Hold Rating for Patterson Companies (PDCO)

Piper Jaffray restated their hold rating on shares of Patterson Companies (NASDAQ:PDCO) in a research note issued to investors on Wednesday morning. They currently have a $24.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Patterson Companies from a sell rating to a buy rating and set a $41.00 target price on the stock in a research note on Tuesday, January 23rd. Northcoast Research set a $38.00 price objective on Patterson Companies and gave the company a buy rating in a research note on Thursday, March 1st. BidaskClub upgraded Patterson Companies from a sell rating to a hold rating in a research note on Thursday, February 22nd. Deutsche Bank assumed coverage on Patterson Companies in a research note on Friday, December 8th. They issued a hold rating and a $37.00 price objective on the stock. Finally, Jefferies Group reiterated a hold rating and issued a $26.00 price objective on shares of Patterson Companies in a research note on Tuesday, March 6th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Patterson Companies currently has a consensus rating of Hold and an average price target of $36.17.

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Shares of NASDAQ PDCO opened at $22.85 on Wednesday. Patterson Companies has a twelve month low of $21.09 and a twelve month high of $48.29. The company has a market capitalization of $2,116.02, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.16. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.64.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, March 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.09). Patterson Companies had a return on equity of 13.85% and a net margin of 4.39%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. Patterson Companies’s quarterly revenue was down 1.6% on a year-over-year basis. analysts forecast that Patterson Companies will post 1.69 EPS for the current fiscal year.

Patterson Companies announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 13th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, April 12th. This represents a $1.04 dividend on an annualized basis and a yield of 4.55%. Patterson Companies’s payout ratio is 44.44%.

In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $36.38, for a total transaction of $27,285.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. bought a new stake in Patterson Companies during the 4th quarter valued at $212,000. Hanson McClain Inc. bought a new stake in Patterson Companies during the 4th quarter valued at $265,000. Sawtooth Solutions LLC bought a new stake in Patterson Companies during the 4th quarter valued at $1,034,000. Fairpointe Capital LLC raised its holdings in Patterson Companies by 5.7% during the 4th quarter. Fairpointe Capital LLC now owns 3,974,188 shares of the company’s stock valued at $143,588,000 after acquiring an additional 213,341 shares during the period. Finally, MetLife Investment Advisors LLC bought a new stake in Patterson Companies during the 4th quarter valued at $921,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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