Patterson Companies (NASDAQ:PDCO) Cut to “Sell” at ValuEngine

ValuEngine lowered shares of Patterson Companies (NASDAQ:PDCO) from a hold rating to a sell rating in a report issued on Friday, ValuEngine reports.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reissued an overweight rating on shares of in a research report on Friday, June 28th. Guggenheim started coverage on shares of Patterson Companies in a report on Wednesday, April 17th. They issued a neutral rating and a $23.00 price target on the stock. BidaskClub upgraded shares of Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Wolfe Research assumed coverage on shares of Waters in a research note on Thursday, May 30th. They set an underperform rating on the stock. Finally, Zacks Investment Research upgraded shares of Grana y Montero SAA from a sell rating to a hold rating in a research note on Monday, June 10th. Six equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock currently has a consensus rating of Sell and an average target price of $21.63.

Patterson Companies stock opened at $20.28 on Friday. Patterson Companies has a 12-month low of $18.94 and a 12-month high of $26.60. The firm has a market cap of $1.93 billion, a PE ratio of 14.49, a P/E/G ratio of 2.16 and a beta of 1.29. The business’s 50-day moving average price is $22.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.83 and a quick ratio of 0.96.



Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, June 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Patterson Companies had a return on equity of 8.94% and a net margin of 1.50%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business earned $0.30 earnings per share. Patterson Companies’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts predict that Patterson Companies will post 1.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.13%. Patterson Companies’s dividend payout ratio is currently 74.29%.

Several institutional investors and hedge funds have recently bought and sold shares of PDCO. Norges Bank acquired a new stake in shares of Patterson Companies during the fourth quarter worth approximately $17,939,000. Dimensional Fund Advisors LP grew its position in shares of Patterson Companies by 36.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,085,525 shares of the company’s stock worth $60,662,000 after buying an additional 822,221 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of Patterson Companies by 57.1% during the first quarter. Neuberger Berman Group LLC now owns 1,101,838 shares of the company’s stock worth $24,071,000 after buying an additional 400,439 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Patterson Companies by 58.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 616,389 shares of the company’s stock worth $12,118,000 after buying an additional 227,201 shares in the last quarter. Finally, Federated Investors Inc. PA grew its position in shares of Patterson Companies by 1,094.8% during the first quarter. Federated Investors Inc. PA now owns 236,041 shares of the company’s stock worth $5,157,000 after buying an additional 216,285 shares in the last quarter. Institutional investors own 93.54% of the company’s stock.

Patterson Companies Company Profile

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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Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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