Patterson Companies (NASDAQ:PDCO) Price Target Cut to $27.00

Patterson Companies (NASDAQ:PDCO) had its price target dropped by Evercore ISI from $28.00 to $27.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price suggests a potential upside of 4.77% from the company’s current price.

Several other brokerages have also issued reports on PDCO. SVB Leerink began coverage on Patterson Companies in a research report on Monday, February 26th. They set an “outperform” rating and a $36.00 target price for the company. JPMorgan Chase & Co. decreased their target price on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Finally, Piper Sandler lowered Patterson Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $34.00 to $28.00 in a research report on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.56.

Patterson Companies Price Performance

Shares of NASDAQ:PDCO opened at $25.77 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $26.88 and its two-hundred day simple moving average is $28.53. Patterson Companies has a 1-year low of $25.00 and a 1-year high of $34.53. The stock has a market cap of $2.31 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PDCO. SG Americas Securities LLC boosted its stake in Patterson Companies by 516.6% in the 3rd quarter. SG Americas Securities LLC now owns 45,191 shares of the company’s stock worth $1,339,000 after purchasing an additional 37,862 shares during the period. Handelsbanken Fonder AB boosted its stake in Patterson Companies by 51.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 20,300 shares of the company’s stock worth $602,000 after purchasing an additional 6,900 shares during the period. Mission Wealth Management LP boosted its stake in Patterson Companies by 3.9% in the 3rd quarter. Mission Wealth Management LP now owns 37,147 shares of the company’s stock worth $1,101,000 after purchasing an additional 1,382 shares during the period. Foster & Motley Inc. boosted its stake in Patterson Companies by 4.0% in the 3rd quarter. Foster & Motley Inc. now owns 92,868 shares of the company’s stock worth $2,753,000 after purchasing an additional 3,588 shares during the period. Finally, Brown Advisory Inc. boosted its stake in Patterson Companies by 2.6% in the 3rd quarter. Brown Advisory Inc. now owns 1,390,876 shares of the company’s stock worth $41,226,000 after purchasing an additional 34,958 shares during the period. Institutional investors own 85.43% of the company’s stock.

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.