Patterson Companies’ (PDCO) Market Perform Rating Reaffirmed at Leerink Partners

Leerink Partners reiterated their market perform rating on shares of Patterson Companies (NASDAQ:PDCO) in a research report report published on Wednesday,Benzinga reports. Leerink Partners currently has a $31.35 price target on the stock, up from their prior price target of $29.00.

Several other brokerages also recently weighed in on PDCO. Piper Sandler cut their target price on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Bank of America cut their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Robert W. Baird decreased their target price on shares of Patterson Companies from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, December 6th. Mizuho started coverage on shares of Patterson Companies in a research note on Wednesday, December 4th. They set a “neutral” rating and a $23.00 target price on the stock. Finally, UBS Group reduced their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.24.

Patterson Companies Stock Up 0.0 %

Patterson Companies stock opened at $31.41 on Wednesday. The firm has a market capitalization of $2.77 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.69 and a beta of 1.00. The company has a 50-day simple moving average of $21.30 and a 200-day simple moving average of $22.83. Patterson Companies has a one year low of $19.45 and a one year high of $31.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. Patterson Companies’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 EPS. As a group, equities analysts expect that Patterson Companies will post 2.29 earnings per share for the current year.

Patterson Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were issued a $0.26 dividend. The ex-dividend date was Friday, October 18th. This represents a $1.04 annualized dividend and a dividend yield of 3.31%. Patterson Companies’s dividend payout ratio is currently 60.82%.

Insider Activity

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the sale, the chief executive officer now owns 222,736 shares in the company, valued at approximately $5,140,746.88. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC boosted its stake in Patterson Companies by 655.0% in the 2nd quarter. CWM LLC now owns 4,492 shares of the company’s stock worth $108,000 after purchasing an additional 3,897 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Patterson Companies by 70.4% in the second quarter. SG Americas Securities LLC now owns 15,420 shares of the company’s stock valued at $372,000 after purchasing an additional 6,370 shares in the last quarter. Welch Group LLC boosted its position in shares of Patterson Companies by 40.0% in the second quarter. Welch Group LLC now owns 10,500 shares of the company’s stock worth $253,000 after buying an additional 3,000 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Patterson Companies during the second quarter valued at $1,777,000. Finally, Family Firm Inc. acquired a new position in Patterson Companies during the second quarter valued at $45,000. 85.43% of the stock is currently 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.