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

Patterson Companies, Inc. (NASDAQ:PDCO) has received an average rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $33.11.

PDCO has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Piper Sandler lowered shares of Patterson Companies from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $34.00 to $28.00 in a research report on Thursday, February 29th. SVB Leerink initiated coverage on shares of Patterson Companies in a research report on Monday, February 26th. They issued an “outperform” rating and a $36.00 price objective for the company. Finally, Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th.

Patterson Companies Price Performance

PDCO opened at $25.47 on Tuesday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.35 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $27.18 and a 200-day moving average price of $28.69. Patterson Companies has a twelve month low of $25.00 and a twelve month high of $34.53.

Patterson Companies (NASDAQ:PDCO) last posted 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 return on equity of 20.98% and a net margin of 2.95%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Patterson Companies’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts expect that Patterson Companies will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 annualized dividend and a yield of 4.08%. Patterson Companies’s payout ratio is presently 51.23%.

Institutional Investors Weigh In On Patterson Companies

Hedge funds have recently bought and sold shares of the stock. Money Concepts Capital Corp lifted its position in Patterson Companies by 195.7% during the fourth quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock valued at $25,000 after purchasing an additional 597 shares during the last quarter. Quarry LP lifted its holdings in shares of Patterson Companies by 499.4% in the 1st quarter. Quarry LP now owns 1,001 shares of the company’s stock worth $27,000 after acquiring an additional 834 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Patterson Companies in the 4th quarter worth approximately $32,000. KBC Group NV bought a new stake in shares of Patterson Companies in the 4th quarter worth approximately $32,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Patterson Companies by 54.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock worth $36,000 after acquiring an additional 434 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

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.