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

Patterson Companies (NASDAQ:PDCO) had its price objective cut by Evercore ISI from $28.00 to $27.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an in-line rating on the stock.

Other equities research analysts also recently issued research reports about the stock. SVB Leerink began coverage on shares of Patterson Companies in a research note on Monday, February 26th. They set an outperform rating and a $36.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Patterson Companies from $31.00 to $30.00 and set a neutral rating for the company in a research report on Wednesday, March 6th. Leerink Partnrs reissued an outperform rating on shares of Patterson Companies in a report on Monday, February 26th. Finally, Piper Sandler downgraded Patterson Companies from an overweight rating to a neutral rating and decreased their price target for the stock from $34.00 to $28.00 in a report on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Patterson Companies presently has a consensus rating of Hold and a consensus target price of $32.56.

Patterson Companies Trading Up 0.9 %

PDCO opened at $26.00 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. Patterson Companies has a 52 week low of $25.00 and a 52 week high of $34.53. The business’s 50 day moving average is $26.83 and its two-hundred day moving average is $28.50. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. On average, research analysts predict that Patterson Companies will post 2.32 EPS for the current year.

Patterson Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Thursday, April 18th. Patterson Companies’s dividend payout ratio (DPR) is currently 51.23%.

Institutional Investors Weigh In On Patterson Companies

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in shares of Patterson Companies in the fourth quarter valued at about $32,000. Fifth Third Bancorp increased its holdings in Patterson Companies by 54.8% in the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after buying an additional 434 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Patterson Companies during the 1st quarter valued at approximately $35,000. Anchor Investment Management LLC purchased a new stake in shares of Patterson Companies during the 4th quarter worth approximately $55,000. Finally, Signaturefd LLC grew its holdings in shares of Patterson Companies by 93.5% in the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock worth $60,000 after acquiring an additional 1,018 shares during the period. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

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.