Robert W. Baird Boosts Patterson Companies (NASDAQ:PDCO) Price Target to $31.00

Patterson Companies (NASDAQ:PDCO) had its price target boosted by stock analysts at Robert W. Baird from $25.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would indicate a potential downside of 0.26% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Bank of America lowered their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Mizuho assumed coverage on Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price objective on the stock. Piper Sandler lowered their target price on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $31.35 price target (up previously from $29.00) on shares of Patterson Companies in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Patterson Companies currently has a consensus rating of “Hold” and an average target price of $26.24.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $31.08 on Thursday. The stock has a market capitalization of $2.74 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 2.72 and a beta of 1.00. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. Patterson Companies has a 1 year low of $19.45 and a 1 year high of $31.79. The firm has a 50 day moving average of $21.52 and a 200-day moving average of $22.88.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. As a group, sell-side analysts anticipate that Patterson Companies will post 2.27 EPS for the current fiscal year.

Insider Activity at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the sale, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LRI Investments LLC lifted its holdings in shares of Patterson Companies by 201.2% during the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after purchasing an additional 843 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Patterson Companies in the second quarter valued at approximately $41,000. Family Firm Inc. acquired a new position in shares of Patterson Companies in the second quarter valued at approximately $45,000. Meeder Asset Management Inc. acquired a new position in shares of Patterson Companies in the second quarter valued at approximately $45,000. Finally, International Assets Investment Management LLC increased its position in shares of Patterson Companies by 2,084.0% during the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock worth $48,000 after acquiring an additional 2,084 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

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.