Patterson Companies, Inc. (NASDAQ:PDCO) Receives $28.30 Average PT from Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $27.63.

Several equities analysts recently weighed in on the stock. UBS Group cut their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Robert W. Baird cut their price objective on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Evercore ISI decreased their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, October 8th. Bank of America cut their price target on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. LRI Investments LLC increased its stake in shares of Patterson Companies by 201.2% during the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after purchasing an additional 843 shares in the last quarter. Mather Group LLC. increased its stake in Patterson Companies by 1,376.1% during the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock worth $39,000 after buying an additional 1,500 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Patterson Companies during the second quarter valued at approximately $41,000. Family Firm Inc. purchased a new position in shares of Patterson Companies in the second quarter valued at approximately $45,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Patterson Companies in the second quarter worth approximately $45,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Stock Up 0.1 %

Patterson Companies stock opened at $21.49 on Wednesday. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $30.68. The company has a market cap of $1.89 billion, a PE ratio of 11.74, a PEG ratio of 1.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. The business’s 50-day simple moving average is $20.96 and its two-hundred day simple moving average is $22.88.

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.84%. Patterson Companies’s dividend payout ratio is presently 56.83%.

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.