Patterson Companies, Inc. (NASDAQ:PDCO) Receives $33.11 Average PT from Brokerages

Patterson Companies, Inc. (NASDAQ:PDCO) has earned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $33.11.

A number of research analysts have commented on PDCO shares. SVB Leerink began coverage on shares of Patterson Companies in a research note on Monday, February 26th. They issued an “outperform” rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Leerink Partnrs reiterated an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Finally, Piper Sandler lowered shares of Patterson Companies from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $34.00 to $28.00 in a research note on Thursday, February 29th.

Institutional Trading of Patterson Companies

A number of institutional investors have recently added to or reduced their stakes in PDCO. Norges Bank purchased a new stake in Patterson Companies during the fourth quarter worth about $26,162,000. Balyasny Asset Management L.P. purchased a new stake in shares of Patterson Companies in the fourth quarter valued at about $18,844,000. Morgan Stanley lifted its holdings in shares of Patterson Companies by 44.1% in the fourth quarter. Morgan Stanley now owns 1,921,031 shares of the company’s stock valued at $53,847,000 after purchasing an additional 587,570 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Patterson Companies by 25.3% in the fourth quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock valued at $73,852,000 after purchasing an additional 523,226 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Patterson Companies by 35.9% in the first quarter. Bank of America Corp DE now owns 1,907,391 shares of the company’s stock valued at $51,061,000 after purchasing an additional 503,683 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Trading Down 1.0 %

NASDAQ PDCO opened at $25.47 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 1.43. The firm has a market cap of $2.28 billion, a PE ratio of 12.55, a P/E/G ratio of 1.35 and a beta of 1.06. Patterson Companies has a one year low of $25.00 and a one year high of $34.53. The firm’s fifty day moving average is $27.18 and its two-hundred day moving average is $28.69.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.63 billion. Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Analysts expect that Patterson Companies will post 2.32 earnings per share for the current year.

Patterson Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Thursday, April 18th. Patterson Companies’s dividend payout ratio is currently 51.23%.

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.