Patterson Companies (NASDAQ:PDCO) Price Target Lowered to $24.00 at Piper Sandler

Patterson Companies (NASDAQ:PDCO) had its price target lowered by analysts at Piper Sandler from $26.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 4.71% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird reduced their price target on Patterson Companies from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Friday. Bank of America reduced their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. JPMorgan Chase & Co. dropped their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Evercore ISI reduced their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, October 8th. Finally, Stifel Nicolaus decreased their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Patterson Companies has an average rating of “Hold” and a consensus price target of $26.10.

Patterson Companies Trading Up 0.4 %

Shares of Patterson Companies stock opened at $22.92 on Friday. The stock has a market cap of $2.02 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.60 and a beta of 1.00. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. Patterson Companies has a 12-month low of $19.45 and a 12-month high of $30.68. The business’s 50 day moving average is $21.02 and its 200-day moving average is $22.79.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results 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). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the company posted $0.50 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts predict that Patterson Companies will post 2.32 earnings per share for the current fiscal year.

Institutional Trading of Patterson Companies

Several hedge funds and other institutional investors have recently bought and sold shares of PDCO. Miller Howard Investments Inc. NY increased its holdings in shares of Patterson Companies by 2.3% during the second quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock worth $471,000 after purchasing an additional 442 shares during the period. KBC Group NV grew its position in Patterson Companies by 32.7% during the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after buying an additional 680 shares in the last quarter. Hsbc Holdings PLC increased its stake in Patterson Companies by 6.2% during the 2nd quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock worth $341,000 after acquiring an additional 828 shares during the period. LRI Investments LLC raised its holdings in Patterson Companies by 201.2% in the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after acquiring an additional 843 shares in the last quarter. Finally, Bfsg LLC lifted its position in shares of Patterson Companies by 8.2% during the 3rd quarter. Bfsg LLC now owns 12,250 shares of the company’s stock valued at $268,000 after acquiring an additional 925 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

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.