Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been assigned a consensus rating of “Hold” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $21.28.
Several research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Patterson Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. BidaskClub raised Patterson Companies from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 8th. ValuEngine raised Patterson Companies from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Finally, UBS Group assumed coverage on Patterson Companies in a research report on Thursday, January 17th. They set a “neutral” rating and a $23.00 target price on the stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Patterson Companies during the fourth quarter valued at approximately $17,939,000. Dimensional Fund Advisors LP increased its stake in shares of Patterson Companies by 36.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,085,525 shares of the company’s stock valued at $60,662,000 after purchasing an additional 822,221 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Patterson Companies by 1,913.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 649,645 shares of the company’s stock valued at $33,000 after purchasing an additional 617,386 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Patterson Companies by 46.0% in the 3rd quarter. Renaissance Technologies LLC now owns 1,602,904 shares of the company’s stock valued at $39,191,000 after purchasing an additional 505,300 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Patterson Companies by 64.8% in the 3rd quarter. Morgan Stanley now owns 1,162,577 shares of the company’s stock valued at $28,424,000 after purchasing an additional 457,312 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, February 28th. The company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. Patterson Companies had a return on equity of 8.50% and a net margin of 1.38%. During the same period in the previous year, the firm earned $0.43 EPS. As a group, equities analysts forecast that Patterson Companies will post 1.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Thursday, April 11th. Patterson Companies’s payout ratio is currently 61.90%.
About Patterson Companies
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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