Patterson Companies, Inc. (NASDAQ:PDCO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have received an average recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $30.25.

Several analysts recently weighed in on the company. Bank of America decreased their target price on Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, May 20th. StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. JPMorgan Chase & Co. dropped their target price on Patterson Companies from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Morgan Stanley dropped their target price on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, June 20th. Finally, Evercore ISI dropped their price target on Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a report on Friday, April 26th.

Patterson Companies Stock Up 1.5 %

NASDAQ:PDCO opened at $24.12 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.75 and a debt-to-equity ratio of 0.33. Patterson Companies has a 1-year low of $22.29 and a 1-year high of $34.53. The business’s fifty day moving average price is $24.72 and its 200 day moving average price is $26.86. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 2.22 and a beta of 1.07.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Tuesday, June 18th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. On average, sell-side analysts forecast that Patterson Companies will post 2.37 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, July 19th. Patterson Companies’s dividend payout ratio is 52.00%.

Institutional Trading of Patterson Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in Patterson Companies during the fourth quarter worth approximately $32,000. Spire Wealth Management bought a new stake in shares of Patterson Companies during the first quarter worth approximately $35,000. Anchor Investment Management LLC bought a new stake in shares of Patterson Companies in the fourth quarter valued at approximately $55,000. Signaturefd LLC boosted its stake in shares of Patterson Companies by 93.5% in the fourth quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after buying an additional 1,018 shares during the period. Finally, Verity & Verity LLC bought a new stake in shares of Patterson Companies in the first quarter valued at approximately $69,000. Institutional investors and hedge funds 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.