Patterson Companies, Inc. (NASDAQ:PDCO) – Equities research analysts at Northcoast Research upped their Q4 2018 EPS estimates for Patterson Companies in a research note issued on Tuesday. Northcoast Research analyst E. Snyder now anticipates that the company will earn $0.73 per share for the quarter, up from their prior forecast 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 for the quarter, topping the consensus estimate of $0.65 by $0.04. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm posted $0.77 EPS. The business’s revenue was down .6% compared to the same quarter last year.
PDCO has been the topic of a number of other reports. Stifel Nicolaus lowered Patterson Companies from a “hold” rating to a “sell” rating and cut their price target for the company from $47.43 to $39.00 in a report on Thursday, July 6th. Zacks Investment Research lowered Patterson Companies from a “buy” rating to a “hold” rating in a report on Monday, May 15th. BidaskClub lowered Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. UBS AG lowered Patterson Companies from a “neutral” rating to a “sell” rating and cut their price target for the company from $44.50 to $40.00 in a report on Tuesday, July 11th. Finally, 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. Six analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $43.78.
Shares of Patterson Companies (NASDAQ:PDCO) traded up 1.36% on Thursday, reaching $37.98. The company’s stock had a trading volume of 952,350 shares. The company’s 50 day moving average is $43.07 and its 200-day moving average is $44.07. Patterson Companies has a 1-year low of $36.46 and a 1-year high of $49.26. The stock has a market cap of $3.56 billion, a PE ratio of 21.22 and a beta of 0.95.
Several institutional investors have recently bought and sold shares of PDCO. Teachers Advisors LLC increased its position in Patterson Companies by 11.7% in the fourth quarter. Teachers Advisors LLC now owns 106,670 shares of the company’s stock valued at $4,377,000 after buying an additional 11,214 shares during the last quarter. Kentucky Retirement Systems purchased a new position in Patterson Companies during the fourth quarter valued at approximately $248,000. Macquarie Group Ltd. increased its position in Patterson Companies by 16.7% in the fourth quarter. Macquarie Group Ltd. now owns 103,674 shares of the company’s stock valued at $4,253,000 after buying an additional 14,800 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Patterson Companies by 1.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 72,136 shares of the company’s stock valued at $3,263,000 after buying an additional 1,257 shares during the last quarter. Finally, Creative Planning increased its position in Patterson Companies by 3.6% in the first quarter. Creative Planning now owns 16,015 shares of the company’s stock valued at $724,000 after buying an additional 551 shares during the last quarter. 89.63% of the stock is currently owned by institutional investors.
In other news, insider Ann B. Gugino sold 750 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total value of $467,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,500 shares of company stock worth $532,273. Company insiders own 0.46% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Wednesday, July 12th. Patterson Companies’s dividend payout ratio (DPR) is presently 58.10%.
About Patterson Companies
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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