Patterson Companies (NASDAQ:PDCO) Price Target Cut to $25.00

Patterson Companies (NASDAQ:PDCOGet Free Report) had its price target decreased by equities research analysts at Evercore ISI from $27.00 to $25.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective points to a potential upside of 8.08% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on PDCO. Morgan Stanley reduced their target price on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, June 20th. JPMorgan Chase & Co. reduced their target price on shares of Patterson Companies from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Bank of America reduced their target price on shares of Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Finally, StockNews.com cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.00.

Get Our Latest Stock Report on Patterson Companies

Patterson Companies Trading Down 0.7 %

PDCO stock opened at $23.13 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.75. The company has a fifty day moving average price of $24.44 and a two-hundred day moving average price of $26.67. Patterson Companies has a one year low of $22.29 and a one year high of $34.53. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.23 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCOGet Free Report) last released its quarterly earnings data on Tuesday, June 18th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts anticipate that Patterson Companies will post 2.37 EPS for the current year.

Insiders Place Their Bets

In other Patterson Companies news, insider Les B. Korsh sold 2,842 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $67,383.82. Following the completion of the transaction, the insider now owns 103,765 shares of the company’s stock, valued at $2,460,268.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Les B. Korsh sold 2,842 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the transaction, the insider now owns 103,765 shares of the company’s stock, valued at $2,460,268.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donald Zurbay sold 5,875 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total value of $139,296.25. Following the completion of the transaction, the chief executive officer now directly owns 237,288 shares of the company’s stock, valued at approximately $5,626,098.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,933 shares of company stock valued at $235,524. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC increased its stake in shares of Patterson Companies by 655.0% in the second quarter. CWM LLC now owns 4,492 shares of the company’s stock valued at $108,000 after buying an additional 3,897 shares during the period. Mather Group LLC. increased its stake in shares of Patterson Companies by 1,376.1% in the second 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. EMC Capital Management increased its stake in shares of Patterson Companies by 327.9% in the first quarter. EMC Capital Management now owns 16,053 shares of the company’s stock valued at $444,000 after buying an additional 12,301 shares during the period. Tidal Investments LLC increased its position in Patterson Companies by 51.1% during the 1st quarter. Tidal Investments LLC now owns 68,507 shares of the company’s stock valued at $1,894,000 after purchasing an additional 23,175 shares during the period. Finally, Caxton Associates LP increased its position in Patterson Companies by 556.7% during the 1st quarter. Caxton Associates LP now owns 47,626 shares of the company’s stock valued at $1,317,000 after purchasing an additional 40,374 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

About Patterson Companies

(Get Free Report)

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.

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