Patterson Companies, Inc. (NASDAQ:PDCO) Receives $26.57 Consensus PT from Analysts

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have earned a consensus rating of “Hold” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $26.57.

Several equities research analysts recently issued reports on PDCO shares. Leerink Partnrs lowered Patterson Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Piper Sandler dropped their target price on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. StockNews.com initiated coverage on shares of Patterson Companies in a report on Sunday. They issued a “hold” rating for the company. Evercore ISI dropped their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Finally, Stifel Nicolaus cut their target price on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th.

Patterson Companies Price Performance

Shares of PDCO stock opened at $30.85 on Friday. The firm has a fifty day moving average of $23.78 and a two-hundred day moving average of $23.41. The firm has a market cap of $2.72 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.70 and a beta of 1.00. Patterson Companies has a 1-year low of $19.45 and a 1-year high of $31.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts anticipate that Patterson Companies will post 2.26 earnings per share for the current fiscal year.

Insider Transactions at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the transaction, the chief executive officer now directly owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Patterson Companies

Several large investors have recently bought and sold shares of the stock. LRI Investments LLC boosted its holdings in shares of Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after acquiring an additional 843 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Patterson Companies during the 2nd quarter valued at $41,000. Family Firm Inc. bought a new position in Patterson Companies during the 2nd quarter valued at $45,000. Meeder Asset Management Inc. acquired a new position in shares of Patterson Companies during the 2nd quarter valued at $45,000. Finally, International Assets Investment Management LLC raised its stake in shares of Patterson Companies by 2,084.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after buying an additional 2,084 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.