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

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $33.11.

PDCO has been the subject of several analyst reports. Piper Sandler cut shares of Patterson Companies from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $28.00 in a report on Thursday, February 29th. SVB Leerink initiated coverage on shares of Patterson Companies in a report on Monday, February 26th. They set an “outperform” rating and a $36.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a report on Monday, February 26th.

Patterson Companies Price Performance

Shares of NASDAQ:PDCO opened at $25.35 on Tuesday. The company has a 50-day simple moving average of $27.38 and a 200-day simple moving average of $28.76. Patterson Companies has a one year low of $25.00 and a one year high of $34.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 1.43. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.34 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. On average, analysts predict that Patterson Companies will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 annualized dividend and a yield of 4.10%. Patterson Companies’s payout ratio is currently 51.23%.

Institutional Trading of Patterson Companies

Large investors have recently modified their holdings of the business. Money Concepts Capital Corp grew its position in shares of Patterson Companies by 195.7% in the fourth quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock valued at $25,000 after purchasing an additional 597 shares during the last quarter. Quarry LP grew its position in shares of Patterson Companies by 499.4% in the first quarter. Quarry LP now owns 1,001 shares of the company’s stock valued at $27,000 after purchasing an additional 834 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Patterson Companies in the fourth quarter valued at approximately $32,000. KBC Group NV acquired a new stake in shares of Patterson Companies in the fourth quarter valued at approximately $32,000. Finally, Fifth Third Bancorp grew its position in shares of Patterson Companies by 54.8% in the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after purchasing an additional 434 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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.