Investment Analysts’ Weekly Ratings Updates for Patterson Companies (PDCO)

Several brokerages have updated their recommendations and price targets on shares of Patterson Companies (NASDAQ: PDCO) in the last few weeks:

• 12/11/2024 – Patterson Companies had its “market perform” rating reaffirmed by analysts at Leerink Partners. They now have a $31.35 price target on the stock, up previously from $29.00.
• 12/6/2024 – Patterson Companies had its price target lowered by analysts at Piper Sandler from $26.00 to $24.00. They now have a “neutral” rating on the stock.
• 12/6/2024 – Patterson Companies had its price target lowered by analysts at Robert W. Baird from $28.00 to $25.00. They now have a “neutral” rating on the stock.
• 12/5/2024 – Patterson Companies had its price target lowered by analysts at Stifel Nicolaus from $25.00 to $24.00. They now have a “hold” rating on the stock.
• 12/4/2024 – Patterson Companies is now covered by analysts at Mizuho. They set a “neutral” rating and a $23.00 price target on the stock.
• 12/3/2024 – Patterson Companies was upgraded by analysts at Mizuho to a “hold” rating.

Patterson Companies Stock Up 35.9 %

PDCO stock opened at $31.40 on Thursday. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.69 and a beta of 1.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The business’s 50-day moving average is $21.30 and its two-hundred day moving average is $22.83. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.43.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data 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). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company earned $0.50 EPS. Patterson Companies’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, analysts forecast that Patterson Companies, Inc. will post 2.29 earnings per share for the current year.

Patterson Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Friday, October 18th. Patterson Companies’s dividend payout ratio is presently 60.82%.

Insider Transactions at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction that occurred on Monday, December 9th. The shares were 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 of the company’s stock, valued at $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. CWM LLC raised its position in shares of Patterson Companies by 655.0% during the second quarter. CWM LLC now owns 4,492 shares of the company’s stock valued at $108,000 after buying an additional 3,897 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Patterson Companies by 70.4% in the second quarter. SG Americas Securities LLC now owns 15,420 shares of the company’s stock worth $372,000 after purchasing an additional 6,370 shares during the last quarter. Welch Group LLC lifted its position in shares of Patterson Companies by 40.0% in the second quarter. Welch Group LLC now owns 10,500 shares of the company’s stock worth $253,000 after buying an additional 3,000 shares in the last quarter. Neo Ivy Capital Management bought a new position in Patterson Companies during the second quarter valued at approximately $1,777,000. Finally, Family Firm Inc. purchased a new stake in shares of Patterson Companies during the 2nd quarter worth approximately $45,000. Institutional investors own 85.43% of the company’s stock.

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.