Traders Purchase High Volume of Call Options on Patterson Companies (NASDAQ:PDCO)

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Patterson Companies, Inc. (NASDAQ:PDCO) was the target of some unusual options trading on Tuesday. Traders purchased 2,167 call options on the stock. This is an increase of 2,111% compared to the typical volume of 98 call options.

NASDAQ:PDCO opened at $24.86 on Thursday. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 2.77 and a beta of 1.27. Patterson Companies has a 1 year low of $18.94 and a 1 year high of $26.60. The company has a 50 day moving average of $22.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.80 and a quick ratio of 0.89.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Thursday, July 11th. Patterson Companies’s payout ratio is 61.90%.

PDCO has been the subject of several analyst reports. BidaskClub raised Patterson Companies from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. ValuEngine lowered Patterson Companies from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Zacks Investment Research raised Patterson Companies from a “sell” rating to a “hold” rating and set a $23.00 price objective for the company in a research note on Monday, June 10th. Finally, Wolfe Research initiated coverage on Patterson Companies in a research note on Thursday, May 30th. They issued an “underperform” rating for the company. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.86.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Patterson Companies by 4.9% in the fourth quarter. BlackRock Inc. now owns 9,795,267 shares of the company’s stock worth $192,575,000 after buying an additional 453,803 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Patterson Companies by 36.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,085,525 shares of the company’s stock worth $60,662,000 after buying an additional 822,221 shares during the period. Gamco Investors INC. ET AL raised its holdings in shares of Patterson Companies by 6.0% in the first quarter. Gamco Investors INC. ET AL now owns 1,906,285 shares of the company’s stock worth $41,652,000 after buying an additional 108,421 shares during the period. Northern Trust Corp raised its holdings in shares of Patterson Companies by 0.8% in the fourth quarter. Northern Trust Corp now owns 1,355,228 shares of the company’s stock worth $26,643,000 after buying an additional 10,272 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Patterson Companies by 14.7% in the first quarter. LSV Asset Management now owns 1,200,054 shares of the company’s stock worth $26,221,000 after buying an additional 153,542 shares during the period. 93.65% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Company Profile

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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