Shares of Patterson Companies, Inc. (NASDAQ:PDCO – Get Free Report) reached a new 52-week low during trading on Tuesday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock traded as low as $24.76 and last traded at $24.77, with a volume of 390589 shares changing hands. The stock had previously closed at $25.22.
Several other analysts also recently weighed in on the company. Leerink Partnrs reiterated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. JPMorgan Chase & Co. cut their price target on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Piper Sandler downgraded shares of Patterson Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $34.00 to $28.00 in a research note on Thursday, February 29th. Bank of America cut their target price on Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday. Finally, SVB Leerink started coverage on Patterson Companies in a research report on Monday, February 26th. They set an “outperform” rating and a $36.00 price target for the company. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Patterson Companies currently has an average rating of “Hold” and a consensus target price of $31.67.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its stake in Patterson Companies by 25.3% during the 4th quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock valued at $73,852,000 after purchasing an additional 523,226 shares in the last quarter. Sound Income Strategies LLC raised its holdings in Patterson Companies by 22.2% in the 4th quarter. Sound Income Strategies LLC now owns 561,445 shares of the company’s stock worth $15,973,000 after acquiring an additional 101,860 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Patterson Companies by 8.3% in the 3rd quarter. AQR Capital Management LLC now owns 748,961 shares of the company’s stock worth $22,117,000 after purchasing an additional 57,550 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Patterson Companies during the third quarter valued at $1,765,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Patterson Companies by 8.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,292 shares of the company’s stock valued at $520,000 after buying an additional 1,365 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.
Patterson Companies Price Performance
The firm has a fifty day moving average of $26.20 and a 200 day moving average of $27.95. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $2.22 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.27 and a beta of 1.07.
Patterson Companies (NASDAQ:PDCO – Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, equities research analysts anticipate that Patterson Companies, Inc. will post 2.32 EPS for the current year.
Patterson Companies Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Friday, April 19th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Thursday, April 18th. Patterson Companies’s payout ratio is currently 51.23%.
Patterson Companies Company Profile
Patterson Companies, Inc engages in the distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.