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

Patterson Companies, Inc. (NASDAQ:PDCO) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $26.57.

PDCO has been the topic of several research reports. Morgan Stanley raised their target price on Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Stifel Nicolaus reduced their price target on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Piper Sandler reduced their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Leerink Partnrs downgraded shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird boosted their target price on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th.

Patterson Companies Price Performance

PDCO opened at $31.13 on Friday. The stock has a fifty day simple moving average of $30.98 and a two-hundred day simple moving average of $25.69. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly 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). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. Patterson Companies’s revenue was up 1.0% compared to the same quarter last year. Research analysts predict that Patterson Companies will post 2.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Patterson Companies

Hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. bought a new position in Patterson Companies during the 4th quarter valued at about $26,000. Huntington National Bank grew its holdings in Patterson Companies by 54.0% during the 4th quarter. Huntington National Bank now owns 1,115 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares during the last quarter. GAMMA Investing LLC grew its holdings in Patterson Companies by 103.0% during the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock valued at $41,000 after purchasing an additional 680 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Patterson Companies by 501.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,883 shares of the company’s stock valued at $58,000 after purchasing an additional 1,570 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in Patterson Companies by 779.7% during the 4th quarter. Sterling Capital Management LLC now owns 2,041 shares of the company’s stock valued at $63,000 after purchasing an additional 1,809 shares during the last quarter. 85.43% of the stock is currently owned by 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.