Patterson Companies (NASDAQ:PDCO) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Patterson Companies (NASDAQ:PDCO) had its price objective raised by analysts at Robert W. Baird from $25.00 to $31.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential downside of 1.27% from the company’s previous close.

A number of other research firms have also issued reports on PDCO. JPMorgan Chase & Co. decreased their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Piper Sandler decreased their price objective 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. Mizuho began coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price objective for the company. Evercore ISI reduced their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. Finally, Bank of America lowered their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Patterson Companies has an average rating of “Hold” and an average target price of $26.24.

Patterson Companies Trading Up 35.9 %

NASDAQ PDCO opened at $31.40 on Thursday. Patterson Companies has a 12 month low of $19.45 and a 12 month high of $31.43. The stock has a market capitalization of $2.77 billion, a P/E ratio of 18.36, a PEG ratio of 1.69 and a beta of 1.00. The firm’s 50-day moving average is $21.30 and its two-hundred day moving average is $22.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the business earned $0.50 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Patterson Companies will post 2.29 earnings per share for the current year.

Insiders Place Their Bets

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was 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 approximately $5,140,746.88. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Patterson Companies

A number of institutional investors have recently modified their holdings of the business. LRI Investments LLC increased its stake in Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after purchasing an additional 843 shares during the period. Canada Pension Plan Investment Board acquired a new position in Patterson Companies in the 2nd quarter valued at about $41,000. Family Firm Inc. purchased a new stake in Patterson Companies during the 2nd quarter valued at approximately $45,000. Meeder Asset Management Inc. purchased a new stake in shares of Patterson Companies during the second quarter worth approximately $45,000. Finally, International Assets Investment Management LLC grew its position in Patterson Companies by 2,084.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after buying an additional 2,084 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

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.