Analysts Set Patterson Companies, Inc. (NASDAQ:PDCO) Target Price at $28.30

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been assigned an average recommendation of “Hold” from the eleven research firms that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $28.30.

A number of research analysts have commented on the company. Robert W. Baird dropped their price objective on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. dropped their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. UBS Group reduced their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Bank of America dropped their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Evercore ISI decreased their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th.

Institutional Investors Weigh In On Patterson Companies

A number of hedge funds have recently modified their holdings of the business. Equity Investment Corp purchased a new position in Patterson Companies during the second quarter valued at $37,935,000. Private Management Group Inc. lifted its position in shares of Patterson Companies by 268.5% during the 2nd quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock valued at $34,532,000 after buying an additional 1,043,201 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Patterson Companies by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock valued at $277,003,000 after acquiring an additional 730,819 shares during the period. LSV Asset Management increased its holdings in Patterson Companies by 58.8% in the 2nd quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock worth $33,559,000 after acquiring an additional 515,299 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Patterson Companies by 83.6% in the 2nd quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock worth $21,775,000 after acquiring an additional 411,012 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $21.99 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.53 and a beta of 1.02. Patterson Companies has a 1 year low of $19.89 and a 1 year high of $32.58. The company has a fifty day moving average price of $21.26 and a 200-day moving average price of $23.50.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. As a group, equities research analysts predict that Patterson Companies will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were given a $0.26 dividend. The ex-dividend date was Friday, October 18th. This represents a $1.04 annualized dividend and a yield of 4.73%. Patterson Companies’s payout ratio is presently 56.83%.

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.