Patterson Companies, Inc. (NASDAQ:PDCO – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $31.34 and last traded at $31.23, with a volume of 1942192 shares. The stock had previously closed at $23.11.
Analysts Set New Price Targets
A number of equities analysts have weighed in on PDCO shares. Mizuho assumed coverage on Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 target price on the stock. Evercore ISI lowered their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Bank of America cut their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. JPMorgan Chase & Co. lowered their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Piper Sandler dropped their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.10.
Read Our Latest Stock Report on Patterson Companies
Patterson Companies Trading Up 34.4 %
Patterson Companies (NASDAQ:PDCO – Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. Patterson Companies’s revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that Patterson Companies, Inc. will post 2.29 earnings per share for the current year.
Patterson Companies Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were given a dividend of $0.26 per share. The ex-dividend date was Friday, October 18th. This represents a $1.04 annualized dividend and a yield of 3.35%. Patterson Companies’s payout ratio is currently 60.82%.
Insider Buying and Selling at Patterson Companies
In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the transaction, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.
Institutional Investors Weigh In On Patterson Companies
A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in Patterson Companies by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock worth $94,436,000 after buying an additional 23,344 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Patterson Companies by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock worth $47,697,000 after acquiring an additional 258,042 shares in the last quarter. River Road Asset Management LLC increased its stake in shares of Patterson Companies by 3.6% during the third quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock valued at $43,423,000 after purchasing an additional 68,947 shares in the last quarter. Equity Investment Corp boosted its position in shares of Patterson Companies by 10.6% in the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after purchasing an additional 166,899 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Patterson Companies by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company’s stock worth $33,952,000 after purchasing an additional 81,524 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.
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.
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