Maryland State Retirement & Pension System Purchases New Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Maryland State Retirement & Pension System purchased a new stake in Patterson Companies, Inc. (NASDAQ:PDCOFree Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 29,717 shares of the company’s stock, valued at approximately $760,000.

A number of other large investors have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in Patterson Companies during the fourth quarter worth $32,000. Anchor Investment Management LLC purchased a new stake in shares of Patterson Companies during the 4th quarter valued at $55,000. Signaturefd LLC lifted its holdings in shares of Patterson Companies by 93.5% during the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after purchasing an additional 1,018 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Patterson Companies during the 4th quarter valued at $92,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Patterson Companies during the 4th quarter valued at $97,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Evercore ISI cut their target price on Patterson Companies from $28.00 to $27.00 and set an “in-line” rating on the stock in a research report on Friday, April 26th. Morgan Stanley cut their target price on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 20th. Bank of America cut their target price on Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Finally, JPMorgan Chase & Co. cut their target price on 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.25.

Get Our Latest Research Report on Patterson Companies

Patterson Companies Trading Down 0.5 %

Shares of Patterson Companies stock opened at $23.79 on Friday. The firm has a market capitalization of $2.09 billion, a PE ratio of 11.90, a P/E/G ratio of 2.24 and a beta of 1.06. Patterson Companies, Inc. has a twelve month low of $22.29 and a twelve month high of $34.53. The firm’s 50-day moving average price is $24.52 and its 200 day moving average price is $26.75. The company has a current ratio of 1.33, a quick ratio of 0.75 and a debt-to-equity ratio of 0.33.

Patterson Companies (NASDAQ:PDCOGet Free Report) last released its earnings results 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). Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts predict that Patterson Companies, Inc. will post 2.37 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Friday, July 19th. Patterson Companies’s dividend payout ratio (DPR) is 52.00%.

About Patterson Companies

(Free Report)

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.

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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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