Robert W. Baird Cuts Patterson Companies (NASDAQ:PDCO) Price Target to $25.00

Patterson Companies (NASDAQ:PDCO) had its target price lowered by Robert W. Baird from $28.00 to $25.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group dropped their target price on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. dropped their target price 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. Bank of America dropped their target price 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. Stifel Nicolaus dropped their target price on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Evercore ISI dropped their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Patterson Companies currently has a consensus rating of “Hold” and a consensus price target of $26.10.

Patterson Companies Trading Up 0.4 %

NASDAQ:PDCO opened at $22.92 on Friday. The company’s 50 day moving average price is $21.02 and its 200-day moving average price is $22.78. Patterson Companies has a 52 week low of $19.45 and a 52 week high of $30.68. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.60 and a beta of 1.00.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Patterson Companies will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.54%. Patterson Companies’s payout ratio is 60.82%.

Institutional Trading of Patterson Companies

Several institutional investors and hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Patterson Companies during the 3rd quarter valued at $65,000. Sanctuary Advisors LLC raised its position in shares of Patterson Companies by 54.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,670 shares of the company’s stock valued at $525,000 after purchasing an additional 9,015 shares during the period. Barclays PLC raised its position in shares of Patterson Companies by 37.2% during the 3rd quarter. Barclays PLC now owns 165,715 shares of the company’s stock valued at $3,619,000 after purchasing an additional 44,906 shares during the period. Stifel Financial Corp raised its position in shares of Patterson Companies by 6.2% during the 3rd quarter. Stifel Financial Corp now owns 30,825 shares of the company’s stock valued at $673,000 after purchasing an additional 1,789 shares during the period. Finally, Petrus Trust Company LTA raised its position in shares of Patterson Companies by 186.9% during the 3rd quarter. Petrus Trust Company LTA now owns 30,241 shares of the company’s stock valued at $660,000 after purchasing an additional 19,701 shares during the period. 85.43% of the stock is currently owned by 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.