Robert W. Baird Lowers Patterson Companies (NASDAQ:PDCO) Price Target to $25.00

Patterson Companies (NASDAQ:PDCO) had its price objective lowered by investment analysts at Robert W. Baird from $28.00 to $25.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 9.51% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. UBS Group reduced their target price on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Mizuho assumed coverage on Patterson Companies in a report on Wednesday. They issued a “neutral” rating and a $23.00 price objective for the company. Evercore ISI dropped their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Finally, Stifel Nicolaus cut their price objective on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.50.

Patterson Companies Price Performance

Patterson Companies stock opened at $22.83 on Friday. Patterson Companies has a 52 week low of $19.45 and a 52 week high of $30.68. The company’s 50 day moving average price is $21.01 and its two-hundred day moving average price is $22.82. The stock has a market cap of $2.01 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.57 and a beta of 1.00. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Patterson Companies will post 2.32 earnings per share for the current year.

Institutional Investors Weigh In On Patterson Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Patterson Companies by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock valued at $94,436,000 after purchasing an additional 23,344 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Patterson Companies by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock valued at $47,697,000 after buying an additional 258,042 shares during the period. River Road Asset Management LLC grew its holdings in Patterson Companies by 3.6% in the 3rd quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock worth $43,423,000 after acquiring an additional 68,947 shares during the last quarter. Equity Investment Corp increased its position in shares of Patterson Companies by 10.6% in the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock valued at $37,994,000 after acquiring an additional 166,899 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Patterson Companies by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company’s stock valued at $33,952,000 after acquiring an additional 81,524 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Patterson Companies Company Profile

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.