Brokerages Set Patterson Companies, Inc. (NASDAQ:PDCO) PT at $28.40

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $28.40.

A number of equities analysts have recently commented on PDCO shares. StockNews.com lowered shares of Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. UBS Group cut their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Robert W. Baird reduced their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Bank of America cut their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Evercore ISI reduced their target price on shares of Patterson Companies from $25.00 to $23.00 and set an “in-line” rating on the stock in a research note on Thursday, August 29th.

Insider Activity

In other news, insider Les B. Korsh sold 2,842 shares of Patterson Companies stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the sale, the insider now directly owns 103,765 shares of the company’s stock, valued at approximately $2,460,268.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Donald Zurbay sold 5,875 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $139,296.25. Following the completion of the sale, the chief executive officer now directly owns 237,288 shares of the company’s stock, valued at $5,626,098.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Les B. Korsh sold 2,842 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $67,383.82. Following the completion of the transaction, the insider now directly owns 103,765 shares in the company, valued at $2,460,268.15. The disclosure for this sale can be found here. Insiders have sold 17,149 shares of company stock valued at $415,851 over the last three months. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Equity Investment Corp acquired a new stake in shares of Patterson Companies in the 2nd quarter valued at approximately $37,935,000. Private Management Group Inc. increased its stake in Patterson Companies by 268.5% in the second quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock valued at $34,532,000 after purchasing an additional 1,043,201 shares in the last quarter. Norges Bank acquired a new stake in Patterson Companies in the fourth quarter worth $26,162,000. Vanguard Group Inc. boosted its position in shares of Patterson Companies by 7.9% during the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock worth $277,003,000 after purchasing an additional 730,819 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of Patterson Companies by 58.8% in the 2nd quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock valued at $33,559,000 after buying an additional 515,299 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Price Performance

PDCO stock opened at $21.74 on Friday. The firm has a market cap of $1.92 billion, a PE ratio of 10.87, a PEG ratio of 1.53 and a beta of 1.02. Patterson Companies has a 1 year low of $19.96 and a 1 year high of $32.58. The company has a fifty day simple moving average of $23.93 and a 200 day simple moving average of $24.88. 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 announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. Patterson Companies’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Sell-side analysts anticipate that Patterson Companies will post 2.33 EPS for the current fiscal year.

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.