Patterson Companies, Inc. (NASDAQ:PDCO) Receives $33.11 Consensus Price Target from Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $33.11.

Several brokerages have recently weighed in on PDCO. Piper Sandler lowered Patterson Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $28.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. decreased 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. Morgan Stanley lowered their price target on shares of Patterson Companies from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday, November 30th. The Goldman Sachs Group reduced their price objective on shares of Patterson Companies from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, November 30th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB raised its stake in Patterson Companies by 25.3% during the fourth quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock worth $73,852,000 after acquiring an additional 523,226 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of Patterson Companies by 22.2% in the fourth quarter. Sound Income Strategies LLC now owns 561,445 shares of the company’s stock valued at $15,973,000 after buying an additional 101,860 shares in the last quarter. Swiss National Bank increased its stake in shares of Patterson Companies by 1.3% in the second quarter. Swiss National Bank now owns 191,500 shares of the company’s stock valued at $6,369,000 after buying an additional 2,400 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Patterson Companies by 8.3% in the third quarter. AQR Capital Management LLC now owns 748,961 shares of the company’s stock valued at $22,117,000 after buying an additional 57,550 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Patterson Companies in the third quarter valued at $1,765,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $27.65 on Friday. The company’s fifty day moving average is $28.27 and its two-hundred day moving average is $29.00. Patterson Companies has a 52-week low of $25.00 and a 52-week high of $34.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.72. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 1.42 and a beta of 1.06.

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

Patterson Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.04 annualized dividend and a yield of 3.76%. 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.