Patterson Companies (NASDAQ:PDCO) Issues Earnings Results

Patterson Companies (NASDAQ:PDCO - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.19), Zacks reports. The company had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.63 billion. Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%.

Patterson Companies Trading Down 0.0 %

PDCO stock traded down $0.01 during midday trading on Friday, hitting $31.14. The stock had a trading volume of 931,040 shares, compared to its average volume of 1,347,996. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $31.79. The company's 50-day moving average price is $30.95 and its 200 day moving average price is $25.46. The firm has a market cap of $2.76 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Leerink Partners restated a "market perform" rating and issued a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Stifel Nicolaus reduced their price target on shares of Patterson Companies from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Thursday, December 5th. Mizuho assumed coverage on shares of Patterson Companies in a research report on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price target for the company. Piper Sandler reduced their price target on shares of Patterson Companies from $26.00 to $24.00 and set a "neutral" rating for the company in a research report on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a research report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Patterson Companies has a consensus rating of "Hold" and a consensus price target of $26.57.

Remove Ads

Insider Activity

In other news, CEO Donald Zurbay sold 1,962 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the sale, the chief executive officer now directly owns 222,736 shares of the company's stock, valued at $5,140,746.88. The trade was a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company's stock.

About Patterson Companies

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.