Patterson Companies (NASDAQ:PDCO) Issues Earnings Results, Misses Estimates By $0.01 EPS

Patterson Companies (NASDAQ:PDCOGet Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01), RTT News reports. Patterson Companies had a net margin of 2.83% and a return on equity of 20.80%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. Patterson Companies updated its FY25 guidance to $2.33-$2.43 EPS and its FY 2025 guidance to 2.330-2.430 EPS.

Patterson Companies Stock Down 4.9 %

PDCO opened at $24.14 on Friday. The business has a 50 day moving average price of $24.90 and a two-hundred day moving average price of $26.95. The company has a quick ratio of 0.72, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.16 billion, a PE ratio of 12.07, a P/E/G ratio of 2.10 and a beta of 1.07. Patterson Companies has a 52 week low of $22.29 and a 52 week high of $34.53.

Patterson Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.31%. Patterson Companies’s dividend payout ratio is currently 52.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Evercore ISI dropped their price objective on Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. StockNews.com cut Patterson Companies from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. Bank of America lowered their target price on Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Finally, Piper Sandler cut Patterson Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $28.00 in a research note on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.78.

Get Our Latest Report on PDCO

Institutional Trading of Patterson Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EMC Capital Management raised its stake in Patterson Companies by 327.9% during the 1st quarter. EMC Capital Management now owns 16,053 shares of the company’s stock valued at $444,000 after acquiring an additional 12,301 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Patterson Companies by 51.1% during the 1st quarter. Tidal Investments LLC now owns 68,507 shares of the company’s stock worth $1,894,000 after buying an additional 23,175 shares in the last quarter. Caxton Associates LP raised its stake in shares of Patterson Companies by 556.7% during the 1st quarter. Caxton Associates LP now owns 47,626 shares of the company’s stock worth $1,317,000 after buying an additional 40,374 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Patterson Companies during the 1st quarter worth approximately $201,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Patterson Companies by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,136 shares of the company’s stock worth $1,414,000 after buying an additional 2,630 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Patterson Companies Company Profile

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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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Earnings History for Patterson Companies (NASDAQ:PDCO)

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