Patterson Companies, Inc. (NASDAQ:PDCO) Receives $26.57 Consensus Target Price from Analysts

Patterson Companies, Inc. (NASDAQ:PDCO) has received a consensus recommendation of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $26.57.

Several analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Patterson Companies from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Piper Sandler dropped their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Morgan Stanley increased their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Leerink Partners reiterated a “market perform” rating and issued a $31.35 price target (up from $29.00) on shares of Patterson Companies in a research note on Wednesday, December 11th. Finally, StockNews.com started coverage on shares of Patterson Companies in a research note on Saturday. They issued a “hold” rating on the stock.

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies 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 transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Patterson Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. acquired a new stake in Patterson Companies in the fourth quarter valued at about $26,000. Huntington National Bank raised its stake in shares of Patterson Companies by 54.0% during the 4th quarter. Huntington National Bank now owns 1,115 shares of the company’s stock worth $34,000 after buying an additional 391 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Patterson Companies by 103.0% in the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after buying an additional 680 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Patterson Companies by 501.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company’s stock valued at $58,000 after buying an additional 1,570 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in shares of Patterson Companies by 779.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,041 shares of the company’s stock valued at $63,000 after buying an additional 1,809 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Down 0.0 %

Shares of NASDAQ:PDCO opened at $31.03 on Monday. The firm’s 50 day moving average price is $30.62 and its 200 day moving average price is $24.99. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90. Patterson Companies has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate 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 2.37% and a return on equity of 19.77%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS. As a group, equities research analysts predict that Patterson Companies will post 2.25 earnings per share for the current fiscal year.

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.