Les B. Korsh Sells 2,842 Shares of Patterson Companies, Inc. (NASDAQ:PDCO) Stock

Patterson Companies, Inc. (NASDAQ:PDCO) insider Les B. Korsh sold 2,842 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the sale, the insider now directly owns 103,765 shares of the company’s stock, valued at approximately $2,460,268.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Patterson Companies Price Performance

Shares of NASDAQ:PDCO opened at $23.29 on Wednesday. The company has a market capitalization of $2.04 billion, a PE ratio of 11.80, a PEG ratio of 2.23 and a beta of 1.06. The business has a fifty day moving average price of $24.48 and a 200-day moving average price of $26.71. Patterson Companies, Inc. has a 1-year low of $22.29 and a 1-year high of $34.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.75.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Tuesday, June 18th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. Patterson Companies had a net margin of 2.83% and a return on equity of 20.80%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. As a group, equities analysts expect that Patterson Companies, Inc. will post 2.37 EPS for the current fiscal year.

Patterson Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a $0.26 dividend. The ex-dividend date is Friday, July 19th. This represents a $1.04 annualized dividend and a yield of 4.47%. Patterson Companies’s dividend payout ratio (DPR) is presently 52.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, June 20th. Evercore ISI lowered their target price on Patterson Companies from $27.00 to $25.00 and set an “in-line” rating for the company in a research note on Tuesday. 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 price objective on Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Patterson Companies from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.00.

Institutional Trading of Patterson Companies

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Patterson Companies by 42.5% during the third quarter. FMR LLC now owns 173,300 shares of the company’s stock valued at $5,137,000 after buying an additional 51,697 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Patterson Companies during the third quarter valued at approximately $215,000. Lazard Asset Management LLC lifted its position in Patterson Companies by 443.3% during the third quarter. Lazard Asset Management LLC now owns 26,840 shares of the company’s stock valued at $794,000 after purchasing an additional 21,900 shares during the period. Toroso Investments LLC grew its position in Patterson Companies by 15.0% in the 3rd quarter. Toroso Investments LLC now owns 53,875 shares of the company’s stock worth $1,597,000 after purchasing an additional 7,021 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Patterson Companies by 5.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 170,822 shares of the company’s stock valued at $5,063,000 after buying an additional 9,043 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Company Profile

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.