Patterson Companies (NASDAQ:PDCO) Price Target Raised to $31.00

Patterson Companies (NASDAQ:PDCO - Get Free Report) had its price objective upped by equities research analysts at Robert W. Baird from $25.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's price target would indicate a potential upside of 0.06% from the company's current price.

Several other research firms have also recently commented on PDCO. Piper Sandler cut their target price on shares of Patterson Companies from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, December 6th. Leerink Partnrs downgraded shares of Patterson Companies from a "strong-buy" rating to a "hold" rating in a report on Wednesday. UBS Group reduced their target price on shares of Patterson Companies from $27.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, September 5th. Evercore ISI lowered their price target on Patterson Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 8th. Finally, Bank of America dropped their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $26.24.

Patterson Companies Stock Performance

Shares of NASDAQ:PDCO traded down $0.42 during midday trading on Thursday, hitting $30.98. The company's stock had a trading volume of 3,748,836 shares, compared to its average volume of 1,005,271. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $31.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.69 and a beta of 1.00. The stock's 50 day simple moving average is $21.30 and its 200 day simple moving average is $22.83.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last released its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business earned $0.50 EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Patterson Companies will post 2.29 earnings per share for the current year.

Insider Transactions at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the transaction, the chief executive officer now owns 222,736 shares of the company's stock, valued at $5,140,746.88. The trade was a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. LRI Investments LLC grew its position in Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company's stock valued at $30,000 after purchasing an additional 843 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Patterson Companies during the 2nd quarter worth approximately $41,000. Family Firm Inc. bought a new position in shares of Patterson Companies in the second quarter valued at about $45,000. Meeder Asset Management Inc. bought a new position in Patterson Companies in the 2nd quarter valued at about $45,000. Finally, International Assets Investment Management LLC increased its stake in shares of Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company's stock worth $48,000 after purchasing an additional 2,084 shares during the period. Institutional investors and hedge funds own 85.43% of the company's stock.

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.