Patterson Companies, Inc. (NASDAQ:PDCO) Insider Les B. Korsh Sells 6,000 Shares

Patterson Companies, Inc. (NASDAQ:PDCOGet Rating) insider Les B. Korsh sold 6,000 shares of the company’s stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $34.96, for a total transaction of $209,760.00. Following the completion of the transaction, the insider now owns 77,486 shares in the company, valued at $2,708,910.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of PDCO traded down $0.52 during mid-day trading on Monday, hitting $34.49. The company’s stock had a trading volume of 15,533 shares, compared to its average volume of 630,086. The company has a current ratio of 1.58, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average is $31.23 and its 200-day moving average is $30.75. Patterson Companies, Inc. has a 52-week low of $26.51 and a 52-week high of $37.37. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.66 and a beta of 1.42.

Patterson Companies (NASDAQ:PDCOGet Rating) last posted its earnings results on Wednesday, March 2nd. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Patterson Companies had a return on equity of 18.99% and a net margin of 2.62%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business earned $0.58 earnings per share. Patterson Companies’s revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Patterson Companies, Inc. will post 2.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 6th. Investors of record on Friday, April 22nd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Thursday, April 21st. Patterson Companies’s payout ratio is currently 60.47%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC grew its position in shares of Patterson Companies by 16.1% in the 3rd quarter. Barclays PLC now owns 80,133 shares of the company’s stock worth $2,415,000 after buying an additional 11,090 shares during the last quarter. Abundance Wealth Counselors purchased a new position in Patterson Companies in the fourth quarter worth $344,000. Nordea Investment Management AB increased its position in shares of Patterson Companies by 855.4% during the third quarter. Nordea Investment Management AB now owns 121,980 shares of the company’s stock worth $3,774,000 after purchasing an additional 109,213 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Patterson Companies by 22.7% during the third quarter. Teacher Retirement System of Texas now owns 13,996 shares of the company’s stock worth $422,000 after purchasing an additional 2,588 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Patterson Companies by 32.2% in the 4th quarter. Van ECK Associates Corp now owns 78,502 shares of the company’s stock worth $2,304,000 after purchasing an additional 19,141 shares in the last quarter. Institutional investors own 82.14% of the company’s stock.

A number of equities analysts have commented on the stock. Morgan Stanley upped their target price on shares of Patterson Companies from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday. assumed coverage on Patterson Companies in a report on Thursday, March 31st. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.75.

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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