Patterson Companies, Inc. (NASDAQ:PDCO) Receives $26.57 Average Target Price from Analysts

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been given an average rating of “Hold” by the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $26.57.

A number of equities research analysts have recently weighed in on PDCO shares. Stifel Nicolaus reduced their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. StockNews.com assumed coverage on Patterson Companies in a research note on Saturday. They issued a “hold” rating on the stock. UBS Group lowered 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 cut their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th.

Insider Activity at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the transaction, the chief executive officer now owns 222,736 shares in the company, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Patterson Companies

Institutional investors have recently modified their holdings of the business. Family Firm Inc. acquired a new stake in Patterson Companies in the second quarter valued at $45,000. LRI Investments LLC lifted its stake in shares of Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after purchasing an additional 843 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Patterson Companies by 7.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,925,898 shares of the company’s stock valued at $46,453,000 after purchasing an additional 133,760 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in Patterson Companies by 2.3% during the second quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock worth $471,000 after buying an additional 442 shares in the last quarter. Finally, Bfsg LLC grew its position in Patterson Companies by 177.6% during the second quarter. Bfsg LLC now owns 11,325 shares of the company’s stock worth $273,000 after buying an additional 7,245 shares during the period. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Trading Up 0.1 %

PDCO opened at $30.90 on Friday. The business has a fifty day moving average price of $22.99 and a 200 day moving average price of $23.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. Patterson Companies has a 12 month low of $19.45 and a 12 month high of $31.79. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.70 and a beta of 1.00.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The company 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 19.77% and a net margin of 2.37%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. Sell-side analysts expect that Patterson Companies will post 2.26 earnings per share for the current fiscal year.

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.