Patterson Companies, Inc. (NASDAQ:PDCO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have earned an average rating of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $27.63.

Several research firms recently commented on PDCO. Evercore ISI cut their price target on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. Robert W. Baird cut their target price on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. UBS Group lowered their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Bank of America decreased their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th.

Patterson Companies Stock Up 0.1 %

Shares of NASDAQ PDCO opened at $21.49 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $20.96 and a 200 day moving average of $22.88. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $30.68. The stock has a market cap of $1.89 billion, a PE ratio of 11.74, a P/E/G ratio of 1.56 and a beta of 1.02.

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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Friday, October 18th. Patterson Companies’s dividend payout ratio is presently 56.83%.

Institutional Trading of Patterson Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC boosted its position in shares of Patterson Companies by 201.2% during the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after buying an additional 843 shares during the period. Mather Group LLC. raised its holdings in shares of Patterson Companies by 1,376.1% in the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after buying an additional 1,500 shares during the period. Canada Pension Plan Investment Board acquired a new position in Patterson Companies during the 2nd quarter worth about $41,000. Family Firm Inc. purchased a new position in Patterson Companies during the 2nd quarter valued at about $45,000. Finally, Meeder Asset Management Inc. acquired a new position in Patterson Companies in the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

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.