Brokerages Set Patterson Companies, Inc. (NASDAQ:PDCO) PT at $34.17

Patterson Companies, Inc. (NASDAQ:PDCO – Get Rating) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $34.17.

A number of research analysts recently weighed in on the company. StockNews.com raised Patterson Companies from a “hold” rating to a “buy” rating in a research note on Friday. Credit Suisse Group lifted their price target on Patterson Companies to $39.00 and gave the stock an “outperform” rating in a research report on Monday, November 28th. TheStreet raised Patterson Companies from a “c+” rating to a “b” rating in a research report on Thursday, December 1st. Evercore ISI lifted their price objective on Patterson Companies to $30.00 in a report on Friday, December 2nd. Finally, Piper Sandler lifted their price objective on Patterson Companies from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, February 6th.

Insider Buying and Selling at Patterson Companies

In other news, CFO Kevin Michael Barry sold 9,443 shares of the company’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $29.10, for a total transaction of $274,791.30. Following the completion of the transaction, the chief financial officer now directly owns 6,442 shares of the company’s stock, valued at $187,462.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Patterson Companies

A number of large investors have recently added to or reduced their stakes in the stock. Money Concepts Capital Corp increased its position in Patterson Companies by 195.7% in the 4th quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock valued at $25,000 after acquiring an additional 597 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Patterson Companies by 74.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,120 shares of the company’s stock valued at $26,000 after purchasing an additional 478 shares during the period. Meeder Asset Management Inc. increased its position in Patterson Companies by 145.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 891 shares of the company’s stock valued at $27,000 after buying an additional 528 shares in the last quarter. National Bank of Canada FI increased its position in Patterson Companies by 60.0% in the 3rd quarter. National Bank of Canada FI now owns 2,000 shares of the company’s stock valued at $42,000 after buying an additional 750 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Patterson Companies by 27.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,773 shares of the company’s stock valued at $50,000 after buying an additional 377 shares in the last quarter. Institutional investors and hedge funds own 81.09% of the company’s stock.

Patterson Companies Trading Up 1.2 %

Shares of PDCO stock opened at $27.31 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.57 and a debt-to-equity ratio of 0.41. Patterson Companies has a fifty-two week low of $23.87 and a fifty-two week high of $35.29. The stock has a market capitalization of $2.65 billion, a P/E ratio of 13.66, a P/E/G ratio of 1.51 and a beta of 1.29. The stock has a 50-day simple moving average of $28.78 and a 200 day simple moving average of $27.82.

Patterson Companies (NASDAQ:PDCO – Get Rating) last announced its quarterly earnings data on Thursday, March 2nd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Patterson Companies had a return on equity of 21.30% and a net margin of 3.08%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company posted $0.55 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Patterson Companies will post 2.28 earnings per share for the current fiscal year.

Patterson Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 3rd. Investors of record on Friday, January 20th were issued a $0.26 dividend. The ex-dividend date was Thursday, January 19th. This represents a $1.04 dividend on an annualized basis and a yield of 3.81%. Patterson Companies’s dividend payout ratio is presently 52.00%.

About Patterson Companies

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Patterson Cos., Inc provides products, technologies, services, and business solutions to the dental and animal health markets. It operates through the following segments: Dental, Animal Health, and Corporate. The Dental segment provides consumable dental products, equipment and software, turnkey digital solutions, and value-added services to dentists, dental laboratories, institutions, and other healthcare professionals.