Patterson Companies, Inc. (PDCO) Given Consensus Rating of “Hold” by Brokerages

Patterson Companies, Inc. (NASDAQ:PDCO) has been assigned an average recommendation of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.23.

A number of equities analysts recently commented on PDCO shares. Zacks Investment Research downgraded Patterson Companies from a “buy” rating to a “sell” rating in a research note on Monday, August 27th. Barclays decreased their price target on Patterson Companies from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, August 31st. ValuEngine upgraded Patterson Companies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. Leerink Swann started coverage on Patterson Companies in a research note on Friday, August 10th. They issued a “market perform” rating and a $25.00 price target for the company. Finally, Goldman Sachs Group started coverage on Patterson Companies in a research note on Friday, October 19th. They issued a “sell” rating and a $19.00 price target for the company.

NASDAQ:PDCO traded down $1.03 during mid-day trading on Monday, reaching $23.82. The stock had a trading volume of 1,598,403 shares, compared to its average volume of 1,440,041. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 3.37 and a beta of 1.01. Patterson Companies has a 1-year low of $20.22 and a 1-year high of $38.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.79.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, August 30th. The company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.08). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.30 billion. Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. On average, equities research analysts forecast that Patterson Companies will post 1.42 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 12th were issued a $0.26 dividend. The ex-dividend date was Thursday, October 11th. This represents a $1.04 dividend on an annualized basis and a yield of 4.37%. Patterson Companies’s dividend payout ratio is currently 61.90%.

A number of hedge funds and other institutional investors have recently modified their holdings of PDCO. Tyers Asset Management LLC raised its holdings in shares of Patterson Companies by 58.0% during the second quarter. Tyers Asset Management LLC now owns 6,624 shares of the company’s stock valued at $150,000 after buying an additional 2,432 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Patterson Companies by 4.0% during the second quarter. Mutual of America Capital Management LLC now owns 69,978 shares of the company’s stock valued at $1,586,000 after buying an additional 2,665 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Patterson Companies by 9.8% during the second quarter. SG Americas Securities LLC now owns 31,159 shares of the company’s stock valued at $706,000 after buying an additional 2,779 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of Patterson Companies by 2.4% during the second quarter. Baird Financial Group Inc. now owns 121,095 shares of the company’s stock valued at $2,745,000 after buying an additional 2,798 shares during the last quarter. Finally, GAM Holding AG raised its holdings in shares of Patterson Companies by 2.9% during the second quarter. GAM Holding AG now owns 100,640 shares of the company’s stock valued at $2,282,000 after buying an additional 2,800 shares during the last quarter. 90.51% of the stock is currently owned by hedge funds and other institutional investors.

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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