Patterson Companies (NASDAQ:PDCO) Price Target Cut to $28.00 by Analysts at Morgan Stanley

Patterson Companies (NASDAQ:PDCOFree Report) had its target price trimmed by Morgan Stanley from $30.00 to $28.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

PDCO has been the subject of several other research reports. SVB Leerink started coverage on shares of Patterson Companies in a report on Monday, February 26th. They issued an outperform rating and a $36.00 price target for the company. StockNews.com cut shares of Patterson Companies from a buy rating to a hold rating in a report on Saturday, June 1st. Evercore ISI reduced their price target on shares of Patterson Companies from $28.00 to $27.00 and set an in-line rating for the company in a report on Friday, April 26th. Bank of America reduced their target price on shares of Patterson Companies from $34.00 to $32.00 and set a buy rating for the company in a report on Monday, May 20th. Finally, Leerink Partnrs restated an outperform rating on shares of Patterson Companies in a report on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Patterson Companies currently has an average rating of Hold and a consensus target price of $30.25.

Read Our Latest Report on Patterson Companies

Patterson Companies Stock Up 0.7 %

Shares of NASDAQ:PDCO opened at $24.31 on Thursday. Patterson Companies has a 52 week low of $22.29 and a 52 week high of $34.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.72 and a current ratio of 1.33. The company has a market capitalization of $2.13 billion, a PE ratio of 12.16, a PEG ratio of 2.03 and a beta of 1.07. The company has a 50 day moving average price of $24.88 and a two-hundred day moving average price of $26.95.

Patterson Companies (NASDAQ:PDCOGet Free Report) last issued its earnings results on Tuesday, June 18th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Patterson Companies had a net margin of 2.83% and a return on equity of 20.80%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. Analysts forecast that Patterson Companies will post 2.37 earnings per share for the current year.

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Friday, July 19th. Patterson Companies’s dividend payout ratio (DPR) is currently 52.00%.

Institutional Trading of Patterson Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Patterson Companies during the fourth quarter worth $32,000. Spire Wealth Management bought a new position in shares of Patterson Companies in the first quarter valued at about $35,000. Anchor Investment Management LLC bought a new position in shares of Patterson Companies in the fourth quarter valued at about $55,000. Signaturefd LLC raised its position in shares of Patterson Companies by 93.5% in the fourth quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after purchasing an additional 1,018 shares during the period. Finally, Verity & Verity LLC bought a new position in shares of Patterson Companies in the first quarter valued at about $69,000. 85.43% of the stock is owned by institutional investors.

Patterson Companies Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

Receive News & Ratings for Patterson Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Companies and related companies with MarketBeat.com's FREE daily email newsletter.