Evercore ISI Trims Patterson Companies (NASDAQ:PDCO) Target Price to $27.00

Patterson Companies (NASDAQ:PDCO - Free Report) had its price objective lowered by Evercore ISI from $28.00 to $27.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

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

Patterson Companies Stock Performance

Shares of PDCO traded down $0.03 during mid-day trading on Friday, hitting $25.77. 453,559 shares of the company's stock were exchanged, compared to its average volume of 1,008,796. Patterson Companies has a fifty-two week low of $25.00 and a fifty-two week high of $34.53. The firm has a market capitalization of $2.31 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.37 and a beta of 1.06. The business's 50 day moving average is $26.93 and its two-hundred day moving average is $28.56. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Patterson Companies's revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts expect that Patterson Companies will post 2.32 earnings per share for the current year.

Patterson Companies Announces Dividend

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

Hedge Funds Weigh In On Patterson Companies

Several large investors have recently modified their holdings of PDCO. GAMMA Investing LLC acquired a new stake in shares of Patterson Companies in the fourth quarter valued at approximately $32,000. Spire Wealth Management acquired a new position in Patterson Companies in the 1st quarter worth approximately $35,000. Fifth Third Bancorp lifted its position in Patterson Companies by 54.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company's stock worth $36,000 after buying an additional 434 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in Patterson Companies in the 4th quarter worth approximately $55,000. Finally, Signaturefd LLC raised its holdings in shares of Patterson Companies by 93.5% during the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company's stock valued at $60,000 after purchasing an additional 1,018 shares in the last quarter. Institutional investors own 85.43% of the company's stock.

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.