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

Patterson Companies, Inc. (NASDAQ:PDCOGet Free Report) insider Les B. Korsh sold 2,842 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $67,383.82. Following the completion of the transaction, the insider now owns 103,765 shares in the company, valued at approximately $2,460,268.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Patterson Companies Stock Up 0.1 %

Shares of PDCO stock opened at $23.81 on Tuesday. Patterson Companies, Inc. has a 12 month low of $22.29 and a 12 month high of $34.53. The stock has a market cap of $2.09 billion, a P/E ratio of 11.84, a P/E/G ratio of 2.23 and a beta of 1.06. The company has a current ratio of 1.33, a quick ratio of 0.75 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $24.52 and a two-hundred day simple moving average of $26.74.

Patterson Companies (NASDAQ:PDCOGet Free Report) last announced its earnings results on Tuesday, June 18th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). Patterson Companies had a net margin of 2.83% and a return on equity of 20.80%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts expect that Patterson Companies, Inc. will post 2.37 earnings per share for the current year.

Patterson Companies Announces Dividend

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 issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.04 dividend on an annualized basis and a yield of 4.37%. Patterson Companies’s dividend payout ratio is currently 52.00%.

Analysts Set New Price Targets

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

Read Our Latest Research Report on Patterson Companies

Institutional Trading of Patterson Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new stake in Patterson Companies during the fourth quarter valued at approximately $32,000. Spire Wealth Management purchased a new stake in shares of Patterson Companies in the first quarter worth $35,000. Anchor Investment Management LLC purchased a new stake in shares of Patterson Companies in the fourth quarter worth $55,000. Signaturefd LLC increased its stake in shares of Patterson Companies by 93.5% in the fourth quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock worth $60,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Verity & Verity LLC purchased a new stake in shares of Patterson Companies in the first quarter worth $69,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

About Patterson Companies

(Get 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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Insider Buying and Selling by Quarter for Patterson Companies (NASDAQ:PDCO)

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