Patterson Companies, Inc. (NASDAQ:PDCO) Receives $28.30 Consensus PT from Brokerages

Patterson Companies, Inc. (NASDAQ:PDCO) has been given an average recommendation of “Hold” by the eleven analysts that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $28.30.

A number of analysts have recently commented on PDCO shares. Evercore ISI cut their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. Robert W. Baird reduced their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. lowered their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. UBS Group reduced their price objective 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. Finally, Bank of America lowered their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th.

Patterson Companies Stock Up 0.9 %

Patterson Companies stock opened at $21.04 on Friday. The firm has a market capitalization of $1.85 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.53 and a beta of 1.02. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. Patterson Companies has a twelve month low of $19.89 and a twelve month high of $32.58. The stock’s fifty day simple moving average is $21.36 and its 200-day simple moving average is $23.54.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, equities analysts expect that Patterson Companies will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Friday, October 18th. Patterson Companies’s dividend payout ratio is currently 56.83%.

Hedge Funds Weigh In On Patterson Companies

Several hedge funds have recently bought and sold shares of PDCO. LRI Investments LLC lifted its holdings 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 in the last quarter. Mather Group LLC. increased its position in Patterson Companies by 1,376.1% during the second quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock worth $39,000 after buying an additional 1,500 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Patterson Companies in the second quarter worth $41,000. Family Firm Inc. acquired a new position in shares of Patterson Companies in the second quarter worth $45,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Patterson Companies in the second quarter valued at $45,000. 85.43% of the stock is owned by hedge funds and other 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.