4. QUALITY EDUCATION

Patterson Companies (NASDAQ:PDCO) Releases FY 2023 Earnings Guidance – MarketBeat

Written by Amanda

Patterson Companies (NASDAQ:PDCOGet Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.25-$2.35 for the period, compared to the consensus estimate of $2.24. The company issued revenue guidance of -.

NASDAQ:PDCO opened at $30.09 on Wednesday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 14.54, a PEG ratio of 1.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.65. Patterson Companies has a fifty-two week low of $26.51 and a fifty-two week high of $35.29. The company has a 50 day moving average price of $30.43 and a 200 day moving average price of $30.42.

Patterson Companies (NASDAQ:PDCOGet Rating) last posted its earnings results on Wednesday, June 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.15. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.59 billion. Patterson Companies had a return on equity of 21.94% and a net margin of 3.13%. Patterson Companies’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Research analysts forecast that Patterson Companies will post 2.3 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Friday, July 22nd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, July 21st. Patterson Companies’s dividend payout ratio (DPR) is currently 50.24%.

PDCO has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Patterson Companies in a research report on Thursday, March 31st. They issued a buy rating for the company. Piper Sandler lifted their price objective on shares of Patterson Companies from $41.00 to $42.00 and gave the stock an overweight rating in a research report on Wednesday, June 29th. Credit Suisse Group lifted their price objective on shares of Patterson Companies from $36.00 to $37.00 and gave the stock an outperform rating in a research report on Thursday, June 30th. Morgan Stanley lifted their price objective on shares of Patterson Companies from $32.00 to $36.00 and gave the stock an equal weight rating in a research report on Thursday, April 14th. Finally, Robert W. Baird set a $35.00 price objective on shares of Patterson Companies in a research report on Monday, June 20th.

In related news, insider Les B. Korsh sold 6,000 shares of Patterson Companies stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $34.96, for a total transaction of $209,760.00. Following the sale, the insider now directly owns 77,486 shares in the company, valued at approximately $2,708,910.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stonebridge Capital Advisors LLC acquired a new position in Patterson Companies in the first quarter valued at $181,000. PNC Financial Services Group Inc. boosted its holdings in shares of Patterson Companies by 89.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,266 shares of the company’s stock valued at $203,000 after acquiring an additional 2,966 shares in the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Patterson Companies in the first quarter valued at about $218,000. Delphia USA Inc. purchased a new stake in shares of Patterson Companies in the first quarter valued at about $242,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Patterson Companies in the first quarter valued at about $266,000. Institutional investors own 90.82% of the company’s stock.

Patterson Companies Company Profile (Get Rating)

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It 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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Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai