Patterson Companies, Inc. (NASDAQ:PDCO) Receives Average Rating of “Hold” from Analysts

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

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Piper Sandler downgraded Patterson Companies from an “overweight” rating to a “neutral” rating and cut their target price for the company from $34.00 to $28.00 in a research report on Thursday, February 29th. SVB Leerink assumed coverage on Patterson Companies in a research report on Monday, February 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th.

Institutional Investors Weigh In On Patterson Companies

Hedge funds have recently added to or reduced their stakes in the business. Money Concepts Capital Corp boosted its stake in shares of Patterson Companies by 195.7% during the 4th quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock worth $25,000 after acquiring an additional 597 shares in the last quarter. Quarry LP boosted its stake in shares of Patterson Companies by 499.4% during the 1st quarter. Quarry LP now owns 1,001 shares of the company’s stock worth $27,000 after acquiring an additional 834 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Patterson Companies during the 4th quarter worth about $32,000. KBC Group NV purchased a new stake in shares of Patterson Companies during the 4th quarter worth about $32,000. Finally, Fifth Third Bancorp boosted its stake in shares of Patterson Companies by 54.8% during 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 in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $25.35 on Tuesday. The business’s fifty day simple moving average is $27.38 and its 200-day simple moving average is $28.76. The company has a market cap of $2.27 billion, a PE ratio of 12.49, a PEG ratio of 1.34 and a beta of 1.06. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. Patterson Companies has a 12-month low of $25.00 and a 12-month high of $34.53.

Patterson Companies (NASDAQ:PDCO) last issued 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). The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Analysts expect that Patterson Companies will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.10%. The ex-dividend date is Thursday, April 18th. Patterson Companies’s payout ratio is 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.