Patterson Companies (NASDAQ:PDCO) Price Target Lowered to $25.00 at Robert W. Baird

Patterson Companies (NASDAQ:PDCO) had its target price trimmed by Robert W. Baird from $28.00 to $25.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus cut their price target on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday. Mizuho started coverage on shares of Patterson Companies in a research report on Wednesday. They issued a “neutral” rating and a $23.00 price target on the stock. Bank of America lowered their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. UBS Group lowered their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lowered their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.10.

Patterson Companies Stock Performance

NASDAQ PDCO opened at $22.92 on Friday. The company has a fifty day moving average of $21.02 and a two-hundred day moving average of $22.80. The company has a market capitalization of $2.02 billion, a PE ratio of 13.40, a P/E/G ratio of 1.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. Patterson Companies has a 1 year low of $19.45 and a 1 year high of $30.68.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. Patterson Companies’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, analysts expect that Patterson Companies will post 2.32 earnings per share for the current year.

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend was Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is 60.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PDCO. Miller Howard Investments Inc. NY raised its position in Patterson Companies by 2.3% during the second quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock worth $471,000 after acquiring an additional 442 shares in the last quarter. KBC Group NV increased its stake in Patterson Companies by 32.7% during the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after acquiring an additional 680 shares during the period. Hsbc Holdings PLC increased its position in shares of Patterson Companies by 6.2% in the second quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock worth $341,000 after purchasing an additional 828 shares during the period. LRI Investments LLC raised its position in shares of Patterson Companies by 201.2% in the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after buying an additional 843 shares in the last quarter. Finally, Bfsg LLC raised its position in Patterson Companies by 8.2% during the third quarter. Bfsg LLC now owns 12,250 shares of the company’s stock valued at $268,000 after purchasing an additional 925 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.