Patterson Companies (NASDAQ:PDCO) has received an average recommendation of “Hold” from the nineteen research firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $34.73.
Several analysts have issued reports on the stock. BidaskClub upgraded shares of Patterson Companies from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 12th. Evercore ISI cut shares of Patterson Companies from an “in-line” rating to an “underperform” rating in a research note on Thursday, March 1st. Barclays assumed coverage on shares of Patterson Companies in a research note on Thursday, March 8th. They issued an “underweight” rating and a $23.00 target price on the stock. Robert W. Baird cut shares of Patterson Companies from an “outperform” rating to a “neutral” rating in a research note on Thursday, March 1st. Finally, ValuEngine cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd.
PDCO traded up $0.39 on Thursday, hitting $23.38. The company’s stock had a trading volume of 1,663,543 shares, compared to its average volume of 2,352,467. The company has a market cap of $2,157.66, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.81 and a beta of 1.16. Patterson Companies has a 12 month low of $21.09 and a 12 month high of $48.29. The company has a current ratio of 1.80, a quick ratio of 1.00 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. Stockholders of record on Friday, April 13th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Thursday, April 12th. Patterson Companies’s dividend payout ratio (DPR) is currently 44.44%.
Patterson Companies announced that its board has authorized a stock buyback plan on Tuesday, March 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC raised its position in shares of Patterson Companies by 346.8% during 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 in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of Patterson Companies during the 4th quarter valued at $145,000. Two Sigma Securities LLC purchased a new stake in shares of Patterson Companies during the 4th quarter valued at $209,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Patterson Companies during the 4th quarter valued at $212,000. Finally, Exchange Capital Management Inc. raised its position in shares of Patterson Companies by 458.3% during the 4th quarter. Exchange Capital Management Inc. now owns 6,532 shares of the company’s stock valued at $236,000 after buying an additional 5,362 shares in the last quarter. Hedge funds and other institutional investors own 94.56% 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.
Receive News & Ratings for Patterson Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Companies and related companies with MarketBeat.com's FREE daily email newsletter.