Analysts Set Patterson Companies, Inc. (NASDAQ:PDCO) Price Target at $28.30

Patterson Companies, Inc. (NASDAQ:PDCO - Get Free Report) has received an average rating of "Hold" from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $28.30.

Several research firms have recently weighed in on PDCO. Evercore ISI lowered their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 8th. Robert W. Baird lowered their price target on Patterson Companies from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. cut their price objective on Patterson Companies from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, August 29th. Bank of America reduced their price objective on Patterson Companies from $31.00 to $29.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. Finally, UBS Group dropped their target price on Patterson Companies from $27.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th.

Institutional Investors Weigh In On Patterson Companies

A number of large investors have recently added to or reduced their stakes in the company. Equity Investment Corp purchased a new stake in shares of Patterson Companies during the second quarter worth about $37,935,000. Private Management Group Inc. grew its position in shares of Patterson Companies by 268.5% in the 2nd quarter. Private Management Group Inc. now owns 1,431,666 shares of the company's stock worth $34,532,000 after buying an additional 1,043,201 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Patterson Companies by 7.9% during the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company's stock valued at $277,003,000 after buying an additional 730,819 shares during the period. LSV Asset Management raised its holdings in shares of Patterson Companies by 58.8% during the second quarter. LSV Asset Management now owns 1,391,344 shares of the company's stock valued at $33,559,000 after acquiring an additional 515,299 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Patterson Companies by 83.6% during the second quarter. American Century Companies Inc. now owns 902,759 shares of the company's stock valued at $21,775,000 after acquiring an additional 411,012 shares in the last quarter. Institutional investors own 85.43% of the company's stock.

Patterson Companies Price Performance

NASDAQ:PDCO traded down $0.16 during trading hours on Friday, hitting $20.85. 659,970 shares of the company's stock traded hands, compared to its average volume of 715,121. Patterson Companies has a 52 week low of $19.89 and a 52 week high of $32.58. The business's fifty day simple moving average is $21.44 and its two-hundred day simple moving average is $23.59. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.84 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.53 and a beta of 1.02.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.08). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The business's revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. On average, research analysts anticipate that Patterson Companies will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.99%. Patterson Companies's dividend payout ratio is currently 56.83%.

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.