Patterson Companies (NASDAQ:PDCO) PT Lowered to $22.00 at Evercore ISI

Patterson Companies (NASDAQ:PDCO) had its price target lowered by Evercore ISI from $23.00 to $22.00 in a research report sent to investors on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other equities analysts have also issued reports on the company. 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 report on Thursday, August 29th. Morgan Stanley lowered their target price on shares of Patterson Companies from $30.00 to $28.00 and set an equal weight rating on the stock in a report on Thursday, June 20th. UBS Group decreased their price target on Patterson Companies from $27.00 to $24.00 and set a neutral rating on the stock in a research report on Thursday, September 5th. Robert W. Baird cut their price objective on shares of Patterson Companies from $30.00 to $28.00 and set a neutral rating for the company in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Patterson Companies from $29.00 to $26.00 and set a neutral rating on the stock in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Patterson Companies presently has a consensus rating of Hold and an average target price of $28.30.

Patterson Companies Stock Up 0.0 %

Patterson Companies stock opened at $20.15 on Tuesday. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 1.49 and a beta of 1.02. The firm’s fifty day moving average price is $22.62 and its two-hundred day moving average price is $24.24. Patterson Companies has a 1-year low of $19.89 and a 1-year high of $32.58. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts predict that Patterson Companies will post 2.33 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is 52.00%.

Insider Buying and Selling

In other Patterson Companies news, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total transaction of $180,327.84. Following the completion of the transaction, the chief executive officer now owns 230,072 shares of the company’s stock, valued at $5,749,499.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Patterson Companies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Illinois Municipal Retirement Fund bought a new position in Patterson Companies in the first quarter worth about $1,339,000. Sound Income Strategies LLC boosted its position in shares of Patterson Companies by 10.3% during the first quarter. Sound Income Strategies LLC now owns 619,529 shares of the company’s stock valued at $17,130,000 after purchasing an additional 58,084 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in Patterson Companies in the first quarter worth $535,000. Russell Investments Group Ltd. raised its holdings in Patterson Companies by 1,802.5% in the first quarter. Russell Investments Group Ltd. now owns 67,615 shares of the company’s stock worth $1,870,000 after purchasing an additional 64,061 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in Patterson Companies by 35.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 91,921 shares of the company’s stock valued at $2,540,000 after buying an additional 23,941 shares during the period. 85.43% of the stock is owned by hedge funds and other 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.