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

Patterson Companies, Inc. (NASDAQ:PDCO) has been assigned a consensus rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $28.30.

Several analysts have issued reports on the company. Evercore ISI dropped their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. Bank of America reduced their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Robert W. Baird decreased their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. UBS Group cut their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. reduced their price target 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PDCO. Equity Investment Corp acquired a new stake in shares of Patterson Companies in the 2nd quarter valued at $37,935,000. Private Management Group Inc. raised its stake in Patterson Companies by 268.5% in the second quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock valued at $34,532,000 after buying an additional 1,043,201 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Patterson Companies by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock worth $277,003,000 after buying an additional 730,819 shares during the last quarter. LSV Asset Management lifted its holdings in Patterson Companies by 58.8% during the 2nd quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock worth $33,559,000 after buying an additional 515,299 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Patterson Companies during the 3rd quarter worth about $11,183,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Stock Down 0.6 %

NASDAQ PDCO opened at $21.49 on Wednesday. Patterson Companies has a one year low of $19.45 and a one year high of $32.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. The business has a fifty day moving average price of $20.99 and a 200 day moving average price of $22.97. The company has a market cap of $1.89 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.49 and a beta of 1.02.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.59 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 EPS. Research analysts anticipate that Patterson Companies will post 2.32 EPS for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.84%. The ex-dividend date was Friday, October 18th. Patterson Companies’s dividend payout ratio is currently 56.83%.

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.