Patterson Companies, Inc. (NASDAQ:PDCO) – Analysts at G.Research lifted their FY2021 EPS estimates for shares of Patterson Companies in a report released on Thursday, June 25th. G.Research analyst K. Kedra now expects that the company will post earnings per share of $1.35 for the year, up from their prior estimate of $1.10. G.Research also issued estimates for Patterson Companies’ FY2022 earnings at $1.75 EPS, FY2023 earnings at $2.10 EPS and FY2024 earnings at $2.30 EPS.

A number of other research firms have also weighed in on PDCO. Zacks Investment Research lowered shares of Patterson Companies from a “hold” rating to a “sell” rating and set a $22.00 price objective for the company. in a research note on Wednesday, June 3rd. BidaskClub raised shares of Patterson Companies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. UBS Group upped their price objective on shares of Patterson Companies from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Barclays reaffirmed a “sell” rating and issued a $16.00 price objective on shares of Patterson Companies in a research note on Friday, March 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Patterson Companies from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $22.11.

Shares of PDCO opened at $22.00 on Monday. The firm has a market capitalization of $2.19 billion, a P/E ratio of -3.53, a P/E/G ratio of 2.50 and a beta of 1.53. Patterson Companies has a 12-month low of $12.93 and a 12-month high of $25.70. The company has a current ratio of 1.41, a quick ratio of 0.69 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $18.87 and a 200-day moving average price of $19.67.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Wednesday, June 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.26. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.17 billion. Patterson Companies had a negative net margin of 10.72% and a positive return on equity of 9.99%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share.

Hedge funds have recently added to or reduced their stakes in the business. Pearl River Capital LLC purchased a new stake in shares of Patterson Companies during the first quarter valued at about $32,000. CWM Advisors LLC purchased a new stake in shares of Patterson Companies during the first quarter valued at about $35,000. Acadian Asset Management LLC purchased a new stake in shares of Patterson Companies during the fourth quarter valued at about $84,000. Point72 Hong Kong Ltd purchased a new stake in shares of Patterson Companies during the fourth quarter valued at about $100,000. Finally, Advisor Group Inc. increased its holdings in shares of Patterson Companies by 129.7% during the fourth quarter. Advisor Group Inc. now owns 5,254 shares of the company’s stock valued at $108,000 after acquiring an additional 2,967 shares in the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, July 16th. Patterson Companies’s payout ratio is 67.10%.

About Patterson Companies

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

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Earnings History and Estimates for Patterson Companies (NASDAQ:PDCO)

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