Patterson Companies (NASDAQ:PDCO) PT Lowered to $22.00 at Evercore ISI

Patterson Companies (NASDAQ:PDCO) had its price target dropped by analysts at Evercore ISI from $23.00 to $22.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 9.89% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley decreased their price target on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, June 20th. Bank of America decreased their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. UBS Group dropped their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. reduced their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Robert W. Baird dropped their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $28.30.

Patterson Companies Stock Performance

Shares of NASDAQ:PDCO traded down $0.26 during mid-day trading on Tuesday, reaching $20.02. 243,510 shares of the company traded hands, compared to its average volume of 962,918. The company’s 50 day moving average price is $22.96 and its 200-day moving average price is $24.36. The firm has a market cap of $1.76 billion, a PE ratio of 10.01, a PEG ratio of 1.49 and a beta of 1.02. Patterson Companies has a 52 week low of $19.96 and a 52 week high of $32.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 earnings per share. On average, equities analysts expect that Patterson Companies will post 2.33 EPS for the current fiscal year.

Insider Activity at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 7,216 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.99, for a total value of $180,327.84. Following the completion of the sale, the chief executive officer now owns 230,072 shares of the company’s stock, valued at $5,749,499.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Patterson Companies

A number of large investors have recently made changes to their positions in PDCO. Miller Howard Investments Inc. NY boosted its position in Patterson Companies by 2.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock valued at $471,000 after buying an additional 442 shares during the period. Ariel Investments LLC grew its stake in Patterson Companies by 7.0% in the first quarter. Ariel Investments LLC now owns 8,976 shares of the company’s stock worth $248,000 after purchasing an additional 586 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Patterson Companies by 6.2% during the 2nd quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock worth $341,000 after purchasing an additional 828 shares during the period. LRI Investments LLC raised its position in Patterson Companies by 201.2% during the 2nd 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. Finally, Covestor Ltd lifted its holdings in shares of Patterson Companies by 15.0% in the 1st quarter. Covestor Ltd now owns 7,584 shares of the company’s stock worth $210,000 after buying an additional 988 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

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.