Patterson Companies (NASDAQ:PDCO - Get Free Report) had its price objective reduced by equities researchers at Piper Sandler from $26.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price target suggests a potential upside of 4.71% from the stock's previous close.
A number of other equities research analysts also recently issued reports on the stock. Bank of America lowered their price target on shares of Patterson Companies from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. UBS Group cut their price target on shares of Patterson Companies from $27.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. decreased their price target on shares of Patterson Companies from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, August 29th. Mizuho began coverage on Patterson Companies in a research report on Wednesday. They issued a "neutral" rating and a $23.00 price objective on the stock. Finally, Robert W. Baird reduced their target price on Patterson Companies from $28.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Patterson Companies presently has a consensus rating of "Hold" and a consensus target price of $26.10.
Check Out Our Latest Research Report on PDCO
Patterson Companies Stock Performance
Patterson Companies stock traded up $0.09 during mid-day trading on Friday, reaching $22.92. The company's stock had a trading volume of 1,170,812 shares, compared to its average volume of 969,411. The firm's fifty day moving average price is $21.02 and its two-hundred day moving average price is $22.80. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $30.68. The company has a market capitalization of $2.02 billion, a P/E ratio of 13.40, a PEG ratio of 1.60 and a beta of 1.00.
Patterson Companies (NASDAQ:PDCO - Get Free Report) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The company had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.65 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. Patterson Companies's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. Sell-side analysts predict that Patterson Companies will post 2.32 EPS for the current fiscal year.
Institutional Investors Weigh In On Patterson Companies
Institutional investors have recently made changes to their positions in the business. LRI Investments LLC lifted its stake in Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company's stock worth $30,000 after purchasing an additional 843 shares during the last quarter. Mather Group LLC. boosted its holdings in Patterson Companies by 1,376.1% during the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company's stock valued at $39,000 after acquiring an additional 1,500 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Patterson Companies during the 2nd quarter valued at about $41,000. Family Firm Inc. bought a new position in Patterson Companies during the 2nd quarter worth approximately $45,000. Finally, Meeder Asset Management Inc. purchased a new position in Patterson Companies in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 85.43% of the company's stock.
Patterson Companies Company Profile
(
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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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