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

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $26.57.

Several equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Piper Sandler reduced their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Robert W. Baird upped their price objective on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Leerink Partners reiterated a “market perform” rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th.

Patterson Companies Trading Up 0.1 %

NASDAQ PDCO opened at $30.90 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. Patterson Companies has a 1-year low of $19.45 and a 1-year high of $31.79. The firm’s fifty day simple moving average is $26.67 and its 200-day simple moving average is $24.14. The company has a market capitalization of $2.73 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The firm had revenue of $1.67 billion during 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 revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. As a group, sell-side analysts anticipate that Patterson Companies will post 2.25 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Patterson Companies

A number of hedge funds have recently modified their holdings of PDCO. Choreo LLC bought a new position in Patterson Companies during the second quarter worth about $261,000. American Century Companies Inc. boosted its stake in Patterson Companies by 83.6% in the 2nd quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock valued at $21,775,000 after buying an additional 411,012 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Patterson Companies by 52.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 120,186 shares of the company’s stock valued at $2,899,000 after buying an additional 41,507 shares in the last quarter. Dimensional Fund Advisors LP grew its position 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 acquiring an additional 23,344 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Patterson Companies during the second quarter worth $227,000. Institutional investors own 85.43% of the company’s stock.

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.