Patterson Companies (NASDAQ:PDCO) Given New $27.00 Price Target at Evercore ISI

Patterson Companies (NASDAQ:PDCO) had its target price lowered by Evercore ISI from $28.00 to $27.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 4.25% from the stock’s current price.

A number of other brokerages also recently weighed in on PDCO. Piper Sandler downgraded shares of Patterson Companies from an “overweight” rating to a “neutral” rating and cut their price target for the company from $34.00 to $28.00 in a research report on Thursday, February 29th. JPMorgan Chase & Co. cut their target price on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. SVB Leerink started coverage on shares of Patterson Companies in a research report on Monday, February 26th. They set an “outperform” rating and a $36.00 price target on the stock. Finally, Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Patterson Companies has a consensus rating of “Hold” and a consensus target price of $32.56.

Patterson Companies Price Performance

Shares of PDCO traded up $0.10 during mid-day trading on Friday, hitting $25.90. 194,223 shares of the company traded hands, compared to its average volume of 1,005,511. The business has a 50-day moving average of $26.93 and a 200 day moving average of $28.56. Patterson Companies has a one year low of $25.00 and a one year high of $34.53. 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 has a market capitalization of $2.32 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.37 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Wednesday, February 28th. The company reported $0.59 EPS 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 firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business posted $0.62 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts expect that Patterson Companies will post 2.32 earnings per share for the current fiscal year.

Institutional Trading of Patterson Companies

Several hedge funds and other institutional investors have recently modified their holdings of the company. HBK Sorce Advisory LLC boosted its position in shares of Patterson Companies by 4.8% during the fourth quarter. HBK Sorce Advisory LLC now owns 7,432 shares of the company’s stock worth $211,000 after buying an additional 341 shares during the period. Fifth Third Bancorp boosted its position in Patterson Companies by 54.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock worth $36,000 after acquiring an additional 434 shares during the last quarter. Strs Ohio grew its stake in shares of Patterson Companies by 1.4% during the 4th quarter. Strs Ohio now owns 35,300 shares of the company’s stock worth $1,004,000 after acquiring an additional 500 shares in the last quarter. Amalgamated Bank grew its stake in shares of Patterson Companies by 1.0% during the 4th quarter. Amalgamated Bank now owns 49,989 shares of the company’s stock worth $1,422,000 after acquiring an additional 503 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Patterson Companies by 2.1% in the fourth quarter. US Bancorp DE now owns 29,863 shares of the company’s stock valued at $850,000 after purchasing an additional 610 shares during the last quarter. Institutional investors and hedge funds 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.