Patterson Companies, Inc. (NASDAQ:PDCO) Receives $28.40 Average Target Price from Brokerages

Patterson Companies, Inc. (NASDAQ:PDCO) has been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $28.40.

Several brokerages have issued reports on PDCO. JPMorgan Chase & Co. dropped their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Bank of America dropped their price target on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Evercore ISI dropped their price target on Patterson Companies from $25.00 to $23.00 and set an “in-line” rating for the company in a research note on Thursday, August 29th. Morgan Stanley dropped their price target on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, June 20th. Finally, UBS Group dropped their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $21.87 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 business has a fifty day simple moving average of $24.00 and a two-hundred day simple moving average of $24.96. Patterson Companies has a 1 year low of $19.96 and a 1 year high of $32.58. The company has a market capitalization of $1.92 billion, a P/E ratio of 10.94, a P/E/G ratio of 1.51 and a beta of 1.02.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.08). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. Patterson Companies’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. On average, analysts expect that Patterson Companies will post 2.33 earnings per share for the current year.

Insider Transactions at Patterson Companies

In related news, insider Les B. Korsh sold 2,842 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $67,383.82. Following the transaction, the insider now owns 103,765 shares in the company, valued at approximately $2,460,268.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Patterson Companies news, CEO Donald Zurbay sold 5,875 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $139,296.25. Following the completion of the sale, the chief executive officer now directly owns 237,288 shares in the company, valued at approximately $5,626,098.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Les B. Korsh sold 2,842 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the transaction, the insider now directly owns 103,765 shares in the company, valued at $2,460,268.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,149 shares of company stock worth $415,851. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Patterson Companies

A number of institutional investors have recently bought and sold shares of PDCO. Vanguard Group Inc. grew its position in shares of Patterson Companies by 7.9% during the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock valued at $277,003,000 after purchasing an additional 730,819 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Patterson Companies by 0.6% during 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 in the last quarter. Westwood Holdings Group Inc. raised 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 acquiring an additional 82,522 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in 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 worth $46,453,000 after buying an additional 133,760 shares in the last quarter. Finally, Equity Investment Corp bought a new position in Patterson Companies in the second quarter worth approximately $37,935,000. 85.43% of the stock is owned by institutional investors.

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.