Patterson Companies (NASDAQ:PDCO) Given “Market Perform” Rating at Leerink Partners

Leerink Partners reiterated their market perform rating on shares of Patterson Companies (NASDAQ:PDCO) in a report released on Wednesday,Benzinga reports. They currently have a $31.35 target price on the stock, up from their prior target price of $29.00.

PDCO has been the topic of a number of other research reports. Piper Sandler dropped their price objective on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Evercore ISI dropped their price target 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. Mizuho assumed coverage on shares of Patterson Companies in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Finally, UBS Group reduced their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.24.

Patterson Companies Trading Up 0.0 %

Shares of NASDAQ:PDCO opened at $31.41 on Wednesday. The firm has a fifty day moving average of $21.30 and a two-hundred day moving average of $22.83. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $31.43. The firm has a market capitalization of $2.77 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business posted $0.50 EPS. Patterson Companies’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts expect that Patterson Companies will post 2.29 EPS for the current fiscal year.

Patterson Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Friday, October 18th. Patterson Companies’s dividend payout ratio is currently 60.82%.

Insider Activity at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the transaction, the chief executive officer now owns 222,736 shares of the company’s stock, valued at $5,140,746.88. This represents a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Patterson Companies

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Patterson Companies by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock worth $94,436,000 after purchasing an additional 23,344 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Patterson Companies by 13.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock valued at $47,697,000 after buying an additional 258,042 shares in the last quarter. River Road Asset Management LLC lifted its holdings in shares of Patterson Companies by 3.6% during the 3rd quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock worth $43,423,000 after acquiring an additional 68,947 shares during the period. Equity Investment Corp lifted its holdings in shares of Patterson Companies by 10.6% during the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after acquiring an additional 166,899 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Patterson Companies by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company’s stock valued at $33,952,000 after acquiring an additional 81,524 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

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.