Patterson Companies (NASDAQ:PDCO) Given New $27.00 Price Target at Evercore ISI

Patterson Companies (NASDAQ:PDCO) had its price target lowered by Evercore ISI from $28.00 to $27.00 in a research note released on Friday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Patterson Companies from $31.00 to $30.00 and set a neutral rating on the stock in a research note on Wednesday, March 6th. Piper Sandler lowered shares of Patterson Companies from an overweight rating to a neutral rating and dropped their price objective for the stock from $34.00 to $28.00 in a research report on Thursday, February 29th. Leerink Partnrs reissued an outperform rating on shares of Patterson Companies in a research report on Monday, February 26th. Finally, SVB Leerink initiated coverage on shares of Patterson Companies in a research report on Monday, February 26th. They issued an outperform rating and a $36.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $32.56.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $25.77 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. The company has a market cap of $2.31 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.36 and a beta of 1.06. Patterson Companies has a fifty-two week low of $25.00 and a fifty-two week high of $34.53. The firm’s 50 day moving average is $26.88 and its two-hundred day moving average is $28.54.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. Analysts expect that Patterson Companies will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, April 18th. Patterson Companies’s payout ratio is 51.23%.

Institutional Investors Weigh In On Patterson Companies

A number of large investors have recently added to or reduced their stakes in PDCO. GAMMA Investing LLC acquired a new stake in Patterson Companies during the 4th quarter valued at $32,000. Spire Wealth Management acquired a new stake in Patterson Companies during the 1st quarter valued at $35,000. Fifth Third Bancorp grew its holdings in Patterson Companies by 54.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock worth $36,000 after acquiring an additional 434 shares in the last quarter. Anchor Investment Management LLC acquired a new position in Patterson Companies during the 4th quarter worth $55,000. Finally, Signaturefd LLC grew its holdings in Patterson Companies by 93.5% during the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock worth $60,000 after acquiring an additional 1,018 shares in 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.