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

Patterson Companies, Inc. (NASDAQ:PDCO) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $30.25.

A number of equities analysts recently issued reports on the company. Evercore ISI cut their target price on Patterson Companies from $28.00 to $27.00 and set an “in-line” rating on the stock in a report on Friday, April 26th. StockNews.com cut Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Bank of America cut their target price on Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, May 20th. JPMorgan Chase & Co. lowered their price target on Patterson Companies from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Finally, Morgan Stanley lowered their price target on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, June 20th.

Institutional Investors Weigh In On Patterson Companies

Large investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its position in shares of Patterson Companies by 25.3% during the 4th quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock valued at $73,852,000 after purchasing an additional 523,226 shares during the last quarter. Norges Bank purchased a new stake in shares of Patterson Companies during the 4th quarter valued at $26,162,000. Sound Income Strategies LLC increased its position in shares of Patterson Companies by 10.3% during the 1st quarter. Sound Income Strategies LLC now owns 619,529 shares of the company’s stock valued at $17,130,000 after purchasing an additional 58,084 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Patterson Companies during the 4th quarter valued at $1,233,000. Finally, Allianz Asset Management GmbH increased its position in shares of Patterson Companies by 0.7% during the 4th quarter. Allianz Asset Management GmbH now owns 867,111 shares of the company’s stock valued at $24,669,000 after purchasing an additional 5,710 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Patterson Companies Price Performance

Patterson Companies stock opened at $23.90 on Friday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 2.24 and a beta of 1.06. Patterson Companies has a 52-week low of $22.29 and a 52-week high of $34.53. The stock’s 50 day moving average price is $24.56 and its two-hundred day moving average price is $26.78. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.75 and a current ratio of 1.33.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Tuesday, June 18th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. Patterson Companies’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 earnings per share. On average, equities analysts predict that Patterson Companies will post 2.37 earnings per share for the current year.

Patterson Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, July 19th. Patterson Companies’s dividend payout ratio is presently 52.00%.

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.