Analysts Set Patterson Companies, Inc. (PDCO) PT at $23.23

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Patterson Companies, Inc. (NASDAQ:PDCO) has been assigned an average rating of “Hold” from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $23.23.

PDCO has been the topic of a number of recent analyst reports. BidaskClub raised Patterson Companies from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research raised Patterson Companies from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, August 22nd. ValuEngine raised Patterson Companies from a “sell” rating to a “hold” rating in a research note on Saturday, September 22nd. Leerink Swann initiated coverage on Patterson Companies in a research note on Friday, August 10th. They set a “market perform” rating and a $25.00 price target on the stock. Finally, Goldman Sachs Group initiated coverage on Patterson Companies in a research note on Friday, October 19th. They set a “sell” rating and a $19.00 price target on the stock.

Several institutional investors and hedge funds have recently modified their holdings of PDCO. New England Asset Management Inc. purchased a new position in shares of Patterson Companies in the 2nd quarter worth $149,000. Tyers Asset Management LLC raised its position in shares of Patterson Companies by 58.0% in the 2nd quarter. Tyers Asset Management LLC now owns 6,624 shares of the company’s stock worth $150,000 after buying an additional 2,432 shares during the period. Riverhead Capital Management LLC raised its position in shares of Patterson Companies by 62.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,300 shares of the company’s stock worth $165,000 after buying an additional 2,800 shares during the period. Sapphire Star Partners LP purchased a new position in shares of Patterson Companies in the 3rd quarter worth $171,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Patterson Companies by 52.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,369 shares of the company’s stock worth $190,000 after buying an additional 2,864 shares during the period. 90.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of Patterson Companies stock traded down $1.03 during trading hours on Monday, reaching $23.82. 1,598,403 shares of the company’s stock were exchanged, compared to its average volume of 1,440,041. Patterson Companies has a 52-week low of $20.22 and a 52-week high of $38.52. The firm has a market cap of $2.32 billion, a PE ratio of 14.18, a P/E/G ratio of 3.37 and a beta of 1.01. The company has a quick ratio of 0.87, a current ratio of 1.79 and a debt-to-equity ratio of 0.51.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, August 30th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Patterson Companies will post 1.42 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 12th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Thursday, October 11th. Patterson Companies’s dividend payout ratio (DPR) is currently 61.90%.

Patterson Companies Company Profile

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

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Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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