Patterson Companies (NASDAQ:PDCO) Price Target Lowered to $27.00 at Evercore ISI

Patterson Companies (NASDAQ:PDCO) had its target price decreased by Evercore ISI from $28.00 to $27.00 in a report published on Friday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other research analysts have also weighed in on PDCO. JPMorgan Chase & Co. decreased their target price on shares of Patterson Companies from $31.00 to $30.00 and set a neutral rating on the stock in a research note on Wednesday, March 6th. Piper Sandler lowered shares of Patterson Companies from an overweight rating to a neutral rating and decreased their target price for the stock from $34.00 to $28.00 in a research note on Thursday, February 29th. Leerink Partnrs reissued an outperform rating on shares of Patterson Companies in a research note on Monday, February 26th. Finally, SVB Leerink initiated coverage on shares of Patterson Companies in a research note on Monday, February 26th. They issued an outperform rating and a $36.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $32.56.

Patterson Companies Trading Down 0.1 %

Shares of Patterson Companies stock opened at $25.77 on Friday. The firm has a market capitalization of $2.31 billion, a PE ratio of 12.69, a P/E/G ratio of 1.36 and a beta of 1.06. Patterson Companies has a twelve month low of $25.00 and a twelve month high of $34.53. The firm’s 50-day moving average price is $26.88 and its 200 day moving average price is $28.54. 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 (NASDAQ:PDCO) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. On average, sell-side analysts predict that Patterson Companies will post 2.32 EPS for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, April 18th. Patterson Companies’s payout ratio is presently 51.23%.

Institutional Trading of Patterson Companies

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Patterson Companies during the 4th quarter valued at approximately $32,000. Fifth Third Bancorp raised its position 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 valued at $36,000 after buying an additional 434 shares during the period. Spire Wealth Management acquired a new stake in Patterson Companies in the 1st quarter valued at approximately $35,000. Anchor Investment Management LLC acquired a new stake in Patterson Companies in the 4th quarter valued at approximately $55,000. Finally, Signaturefd LLC increased its holdings in Patterson Companies by 93.5% in the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after purchasing an additional 1,018 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

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.