Patterson Companies (NASDAQ:PDCO) had its price objective trimmed by Evercore ISI from $20.00 to $18.50 in a report released on Thursday morning. The brokerage currently has an underperform rating on the stock.
A number of other analysts have also weighed in on PDCO. BidaskClub raised Patterson Companies from a sell rating to a hold rating in a research report on Thursday, February 22nd. Robert W. Baird lowered Patterson Companies from an outperform rating to a neutral rating in a research report on Thursday, March 1st. Northcoast Research set a $38.00 price objective on Patterson Companies and gave the stock a buy rating in a research report on Thursday, March 1st. Zacks Investment Research lowered Patterson Companies from a buy rating to a hold rating in a research report on Monday, March 5th. Finally, JPMorgan Chase & Co. dropped their target price on Patterson Companies from $36.00 to $26.00 and set an underweight rating on the stock in a report on Monday, March 5th. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $31.78.
Patterson Companies opened at $24.62 on Thursday, MarketBeat.com reports. Patterson Companies has a twelve month low of $20.57 and a twelve month high of $48.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.00 and a current ratio of 1.95. The firm has a market cap of $2.20 billion, a PE ratio of 13.86, a P/E/G ratio of 2.18 and a beta of 1.12.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, June 21st. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Patterson Companies had a return on equity of 11.05% and a net margin of 3.68%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company earned $0.69 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. analysts predict that Patterson Companies will post 1.74 EPS for the current year.
Patterson Companies announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 13th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 27th. Shareholders of record on Friday, July 13th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, July 12th. This represents a $1.04 annualized dividend and a yield of 4.22%. Patterson Companies’s dividend payout ratio is presently 61.90%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC boosted its stake in shares of Patterson Companies by 346.8% during the fourth quarter. Advisory Services Network LLC now owns 3,454 shares of the company’s stock worth $125,000 after buying an additional 2,681 shares during the period. Two Sigma Securities LLC purchased a new position in Patterson Companies in the fourth quarter valued at about $209,000. Cambridge Investment Research Advisors Inc. purchased a new position in Patterson Companies in the fourth quarter valued at about $212,000. Hanson McClain Inc. purchased a new position in Patterson Companies in the fourth quarter valued at about $265,000. Finally, LPL Financial LLC purchased a new position in Patterson Companies in the fourth quarter valued at about $289,000. Institutional investors and hedge funds own 90.27% 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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