Patterson Companies (PDCO) Releases Earnings Results, Beats Expectations By $0.02 EPS

Patterson Companies (NASDAQ:PDCO) issued its quarterly earnings results on Thursday. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02, MarketWatch Earnings reports. Patterson Companies had a net margin of 2.80% and a return on equity of 8.78%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Patterson Companies updated its FY 2019 guidance to $1.40-1.50 EPS and its FY19 guidance to $1.40-1.50 EPS.

Shares of PDCO stock opened at $22.87 on Friday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 3.18 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.76. Patterson Companies has a fifty-two week low of $20.22 and a fifty-two week high of $38.52.

PDCO has been the topic of several research analyst reports. ValuEngine cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research reissued a “hold” rating on shares of Patterson Companies in a research report on Wednesday, November 14th. BidaskClub cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Goldman Sachs Group initiated coverage on shares of Patterson Companies in a research report on Friday, October 19th. They issued a “sell” rating and a $19.00 target price on the stock. Finally, Leerink Swann initiated coverage on shares of Patterson Companies in a research report on Friday, August 10th. They issued a “market perform” rating and a $25.00 target price on the stock. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Patterson Companies has an average rating of “Hold” and a consensus price target of $24.58.

Hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its position in Patterson Companies by 39.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 665,061 shares of the company’s stock valued at $15,077,000 after buying an additional 188,174 shares in the last quarter. Teton Advisors Inc. lifted its position in Patterson Companies by 39.5% during the third quarter. Teton Advisors Inc. now owns 70,944 shares of the company’s stock valued at $1,735,000 after buying an additional 20,100 shares in the last quarter. Perkins Capital Management Inc. lifted its position in Patterson Companies by 32.0% during the third quarter. Perkins Capital Management Inc. now owns 15,475 shares of the company’s stock valued at $378,000 after buying an additional 3,750 shares in the last quarter. Renaissance Technologies LLC lifted its position in Patterson Companies by 224.6% during the second quarter. Renaissance Technologies LLC now owns 1,097,604 shares of the company’s stock valued at $24,883,000 after buying an additional 759,500 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new position in Patterson Companies during the second quarter valued at approximately $408,000.

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About Patterson Companies

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

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Earnings History for Patterson Companies (NASDAQ:PDCO)

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