Patterson Companies, Inc. (NASDAQ:PDCO) Given Average Recommendation of “Hold” by Brokerages

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

A number of analysts have recently weighed in on PDCO shares. SVB Leerink started coverage on Patterson Companies in a research report on Monday, February 26th. They issued an “outperform” rating and a $36.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective 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. Piper Sandler cut Patterson Companies from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $34.00 to $28.00 in a research report on Thursday, February 29th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th.

Hedge Funds Weigh In On Patterson Companies

Several institutional investors and hedge funds have recently modified their holdings of PDCO. GAMMA Investing LLC purchased a new position in shares of Patterson Companies in the 4th quarter valued at about $32,000. Fifth Third Bancorp increased its stake in shares of Patterson Companies by 54.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after purchasing an additional 434 shares in the last quarter. Anchor Investment Management LLC purchased a new position in shares of Patterson Companies in the 4th quarter valued at about $55,000. Signaturefd LLC increased its stake in shares of Patterson Companies by 93.5% in the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of Patterson Companies by 57.0% in the 3rd quarter. Huntington National Bank now owns 2,737 shares of the company’s stock valued at $81,000 after purchasing an additional 994 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Trading Down 0.4 %

Shares of NASDAQ:PDCO opened at $25.91 on Tuesday. Patterson Companies has a 12-month low of $25.00 and a 12-month high of $34.53. The business’s fifty day simple moving average is $27.07 and its 200-day simple moving average is $28.62. The company has a market capitalization of $2.32 billion, a PE ratio of 12.76, a P/E/G ratio of 1.37 and a beta of 1.06. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46.

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

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be paid a $0.26 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.01%. Patterson Companies’s dividend payout ratio is presently 51.23%.

About Patterson Companies

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.