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

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have received a consensus rating of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $33.11.

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

Institutional Trading of Patterson Companies

A number of institutional investors and hedge funds have recently made changes to their positions in PDCO. Norges Bank acquired a new stake in shares of Patterson Companies during the 4th quarter worth $26,162,000. Nordea Investment Management AB boosted its position in Patterson Companies by 25.3% during the 4th quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock worth $73,852,000 after purchasing an additional 523,226 shares during the period. Westwood Holdings Group Inc. boosted its position in Patterson Companies by 17.0% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,287,553 shares of the company’s stock worth $65,081,000 after purchasing an additional 332,593 shares during the period. LSV Asset Management boosted its position in Patterson Companies by 46.2% during the 3rd quarter. LSV Asset Management now owns 915,345 shares of the company’s stock worth $27,131,000 after purchasing an additional 289,100 shares during the period. Finally, Alps Advisors Inc. purchased a new stake in Patterson Companies during the 3rd quarter worth $5,525,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $25.91 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. Patterson Companies has a 52-week low of $25.00 and a 52-week high of $34.53. The business’s 50-day moving average price is $27.07 and its 200 day moving average price is $28.62. The firm has a market cap of $2.32 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.37 and a beta of 1.06.

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

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.01%. Patterson Companies’s payout ratio is 51.23%.

About Patterson Companies

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.