Patterson Companies (NASDAQ:PDCO) Price Target Lowered to $27.00 at Evercore ISI

Patterson Companies (NASDAQ:PDCO) had its target price cut by analysts at Evercore ISI from $28.00 to $27.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price objective points to a potential upside of 4.25% from the company’s current price.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. reduced their target price on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Piper Sandler lowered Patterson Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $28.00 in a research report on Thursday, February 29th. Finally, SVB Leerink started coverage on Patterson Companies in a report on Monday, February 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.56.

Patterson Companies Trading Up 0.4 %

Shares of PDCO stock traded up $0.10 during mid-day trading on Friday, hitting $25.90. The company’s stock had a trading volume of 194,223 shares, compared to its average volume of 1,005,511. The company has a market cap of $2.32 billion, a PE ratio of 12.72, a P/E/G ratio of 1.37 and a beta of 1.06. The company’s fifty day simple moving average is $26.93 and its 200-day simple moving average is $28.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 1.43. Patterson Companies has a 52 week low of $25.00 and a 52 week high of $34.53.

Patterson Companies (NASDAQ:PDCO) last released its 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). The company had revenue of $1.62 billion for 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 firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 EPS. As a group, equities research analysts expect that Patterson Companies will post 2.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Patterson Companies

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in shares of Patterson Companies by 516.6% during the third quarter. SG Americas Securities LLC now owns 45,191 shares of the company’s stock valued at $1,339,000 after purchasing an additional 37,862 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Patterson Companies by 51.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 20,300 shares of the company’s stock worth $602,000 after buying an additional 6,900 shares in the last quarter. Mission Wealth Management LP boosted its stake in shares of Patterson Companies by 3.9% in the 3rd quarter. Mission Wealth Management LP now owns 37,147 shares of the company’s stock worth $1,101,000 after buying an additional 1,382 shares during the last quarter. Foster & Motley Inc. grew its holdings in shares of Patterson Companies by 4.0% in the third quarter. Foster & Motley Inc. now owns 92,868 shares of the company’s stock valued at $2,753,000 after acquiring an additional 3,588 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Patterson Companies by 2.6% during the third quarter. Brown Advisory Inc. now owns 1,390,876 shares of the company’s stock valued at $41,226,000 after acquiring an additional 34,958 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

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.