Patterson Companies (NASDAQ:PDCO – Get Rating) announced its quarterly earnings data on Thursday. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06, RTT News reports. Patterson Companies had a return on equity of 20.68% and a net margin of 3.02%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $0.58 earnings per share. Patterson Companies’s quarterly revenue was down 1.4% compared to the same quarter last year. Patterson Companies updated its FY23 guidance to $2.25-2.35 EPS.
Patterson Companies Price Performance
NASDAQ PDCO opened at $28.44 on Thursday. Patterson Companies has a fifty-two week low of $23.87 and a fifty-two week high of $35.29. The stock’s 50-day moving average is $26.93 and its two-hundred day moving average is $28.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.63 and a quick ratio of 0.80. The firm has a market cap of $2.76 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.52 and a beta of 1.28.
Patterson Companies Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 4th. Shareholders of record on Friday, October 21st were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.04 annualized dividend and a yield of 3.66%. Patterson Companies’s dividend payout ratio (DPR) is currently 52.79%.
Analysts Set New Price Targets
Several brokerages recently issued reports on PDCO. William Blair reiterated a “market perform” rating on shares of Patterson Companies in a report on Friday, September 2nd. Credit Suisse Group increased their price objective on Patterson Companies to $39.00 in a report on Monday. Evercore ISI cut their price objective on Patterson Companies to $26.50 in a report on Tuesday, September 6th. Piper Sandler cut their price objective on Patterson Companies from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, October 17th. Finally, The Goldman Sachs Group cut their price objective on Patterson Companies from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, September 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $33.25.
Hedge Funds Weigh In On Patterson Companies
Several institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Patterson Companies in the first quarter valued at about $266,000. PNC Financial Services Group Inc. grew its position 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 purchasing an additional 2,966 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Patterson Companies by 40.4% in the first quarter. MetLife Investment Management LLC now owns 102,249 shares of the company’s stock valued at $3,310,000 after purchasing an additional 29,446 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Patterson Companies by 10.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,801 shares of the company’s stock valued at $1,029,000 after purchasing an additional 3,084 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in shares of Patterson Companies by 12.0% in the first quarter. Great West Life Assurance Co. Can now owns 52,913 shares of the company’s stock valued at $1,763,000 after purchasing an additional 5,655 shares during the last quarter. 82.55% of the stock is currently owned by institutional investors.
Patterson Companies Company Profile
Patterson Companies, Inc engages in 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.
Further Reading
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