Patterson Companies (NASDAQ:PDCO) Shares Gap Down to $30.49

Patterson Companies, Inc. (NASDAQ:PDCO)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $30.49, but opened at $29.86. Patterson Companies shares last traded at $29.90, with a volume of 733 shares trading hands.

Several research analysts have recently issued reports on PDCO shares. Robert W. Baird dropped their target price on shares of Patterson Companies from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, June 24th. TheStreet upgraded Patterson Companies from a “c” rating to a “b” rating in a research note on Wednesday, June 23rd. Finally, Piper Sandler reduced their target price on Patterson Companies from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, June 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Patterson Companies has an average rating of “Hold” and a consensus price target of $33.00.

The company has a current ratio of 1.48, a quick ratio of 0.81 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.89 billion, a P/E ratio of 18.94, a PEG ratio of 1.46 and a beta of 1.60. The business has a fifty day moving average of $32.86.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Tuesday, June 22nd. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.14). Patterson Companies had a net margin of 2.64% and a return on equity of 20.29%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company posted $0.43 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year. On average, equities analysts expect that Patterson Companies, Inc. will post 2.01 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 6th. Investors of record on Friday, July 23rd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, July 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 3.48%. Patterson Companies’s dividend payout ratio is currently 54.45%.

In other Patterson Companies news, VP Les B. Korsh sold 4,577 shares of the firm’s stock in a transaction that occurred on Monday, June 14th. The shares were sold at an average price of $35.68, for a total transaction of $163,307.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 5,828 shares of company stock worth $205,144 over the last quarter. 1.30% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in PDCO. Mascoma Wealth Management LLC purchased a new stake in Patterson Companies in the 1st quarter worth $26,000. Captrust Financial Advisors grew its holdings in shares of Patterson Companies by 391.2% in the first quarter. Captrust Financial Advisors now owns 835 shares of the company’s stock valued at $27,000 after purchasing an additional 665 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in Patterson Companies by 89.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 991 shares of the company’s stock worth $31,000 after purchasing an additional 468 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Patterson Companies by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company’s stock valued at $36,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Fieldpoint Private Securities LLC bought a new stake in shares of Patterson Companies in the 1st quarter worth about $69,000. Institutional investors and hedge funds own 85.38% of the company’s stock.

Patterson Companies Company Profile (NASDAQ:PDCO)

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through three segments; Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; technology solutions, such as practice management software and e-commerce solutions; patient education systems; and office forms and stationery.

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