Patterson Companies, Inc. (NASDAQ:PDCO) Receives $25.33 Consensus PT from Analysts

Patterson Companies, Inc. (NASDAQ:PDCO) has been given an average recommendation of “Hold” by the eleven research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $28.50.

A number of research firms have weighed in on PDCO. Robert W. Baird cut their target price on shares of Patterson Companies from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday. Piper Sandler cut their price objective on shares of Patterson Companies from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday.

In related news, VP Les B. Korsh sold 4,577 shares of the stock in a transaction dated Monday, June 14th. The shares were sold at an average price of $35.68, for a total value of $163,307.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. The PNC Financial Services Group Inc. grew its stake in Patterson Companies by 8.3% during the first quarter. The PNC Financial Services Group Inc. now owns 3,772 shares of the company’s stock worth $120,000 after buying an additional 288 shares during the last quarter. Eaton Vance Management grew its stake in Patterson Companies by 1.0% during the first quarter. Eaton Vance Management now owns 35,769 shares of the company’s stock worth $1,143,000 after buying an additional 338 shares during the last quarter. Royal Bank of Canada grew its stake in Patterson Companies by 1.2% during the first quarter. Royal Bank of Canada now owns 30,230 shares of the company’s stock worth $966,000 after buying an additional 356 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Patterson Companies by 1.8% during the first quarter. Thrivent Financial for Lutherans now owns 23,178 shares of the company’s stock valued at $741,000 after purchasing an additional 407 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Patterson Companies by 89.5% during the first quarter. Harvest Fund Management Co. Ltd now owns 991 shares of the company’s stock valued at $31,000 after purchasing an additional 468 shares during the last quarter. 85.44% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies stock traded up $0.31 on Thursday, reaching $31.28. 2,347,225 shares of the stock were exchanged, compared to its average volume of 852,308. The firm has a market cap of $3.02 billion, a PE ratio of -6.04, a PEG ratio of 1.47 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.43. Patterson Companies has a twelve month low of $20.26 and a twelve month high of $37.37. The company’s fifty day moving average is $34.20.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Tuesday, June 22nd. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.14). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. Patterson Companies had a positive return on equity of 21.53% and a negative net margin of 8.54%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. Equities analysts anticipate that Patterson Companies will post 2.06 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 6th. Investors of record on Friday, July 23rd will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, July 22nd. Patterson Companies’s dividend payout ratio (DPR) is presently 67.10%.

Patterson Companies Company Profile

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through three segments; Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; technology solutions, such as practice management software and e-commerce solutions; patient education systems; and office forms and stationery.

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Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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