Patterson Companies, Inc. (NASDAQ:PDCO) Receives $30.25 Consensus PT from Analysts

Patterson Companies, Inc. (NASDAQ:PDCO) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $30.25.

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Patterson Companies from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. StockNews.com cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. Bank of America decreased their price target on shares of Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Morgan Stanley decreased their price target on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. Finally, Evercore ISI decreased their target price on shares of Patterson Companies from $28.00 to $27.00 and set an “in-line” rating on the stock in a research report on Friday, April 26th.

Hedge Funds Weigh In On Patterson Companies

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Patterson Companies by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock worth $277,003,000 after acquiring an additional 730,819 shares in the last quarter. Nordea Investment Management AB grew its stake in Patterson Companies by 25.3% in the 4th quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock worth $73,852,000 after acquiring an additional 523,226 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Patterson Companies by 3.6% during the first quarter. Westwood Holdings Group Inc. now owns 2,370,075 shares of the company’s stock valued at $65,533,000 after purchasing an additional 82,522 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Patterson Companies by 2.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,792,138 shares of the company’s stock valued at $49,553,000 after purchasing an additional 43,980 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Patterson Companies by 11.2% during the fourth quarter. Brown Advisory Inc. now owns 1,547,278 shares of the company’s stock valued at $44,020,000 after purchasing an additional 156,402 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Stock Down 0.7 %

PDCO opened at $23.92 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.75 and a current ratio of 1.33. Patterson Companies has a fifty-two week low of $22.29 and a fifty-two week high of $34.53. The firm’s fifty day moving average is $24.65 and its 200 day moving average is $26.82. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 2.26 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Tuesday, June 18th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Patterson Companies had a net margin of 2.83% and a return on equity of 20.80%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. On average, sell-side analysts forecast that Patterson Companies will post 2.37 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.04 annualized dividend and a yield of 4.35%. Patterson Companies’s payout ratio is 52.00%.

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.