Patterson Companies (NASDAQ:PDCO) Price Target Lowered to $24.00 at Piper Sandler

Patterson Companies (NASDAQ:PDCO) had its price target cut by Piper Sandler from $26.00 to $24.00 in a research note published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently commented on the company. Robert W. Baird decreased their price objective on Patterson Companies from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday. Mizuho began coverage on Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target on the stock. UBS Group cut their price objective on 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 reduced their price objective 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 lowered their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Patterson Companies currently has a consensus rating of “Hold” and a consensus target price of $26.10.

Patterson Companies Stock Up 0.4 %

NASDAQ PDCO opened at $22.92 on Friday. The business’s fifty day simple moving average is $21.02 and its 200-day simple moving average is $22.78. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.02 billion, a PE ratio of 13.40, a P/E/G ratio of 1.60 and a beta of 1.00. Patterson Companies has a 52 week low of $19.45 and a 52 week high of $30.68.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. Patterson Companies’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. As a group, equities analysts anticipate that Patterson Companies will post 2.32 earnings per share for the current year.

Patterson Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is currently 60.82%.

Institutional Trading of Patterson Companies

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Patterson Companies by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock valued at $94,436,000 after purchasing an additional 23,344 shares during the period. Allspring Global Investments Holdings LLC raised its position in Patterson Companies by 13.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock valued at $47,697,000 after purchasing an additional 258,042 shares in the last quarter. River Road Asset Management LLC boosted its stake in shares of Patterson Companies by 3.6% in the 3rd quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock valued at $43,423,000 after buying an additional 68,947 shares during the period. Equity Investment Corp grew its position in shares of Patterson Companies by 10.6% during the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after buying an additional 166,899 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Patterson Companies by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company’s stock worth $33,952,000 after buying an additional 81,524 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Company Profile

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.