Patterson Companies (NASDAQ:PDCO) PT Raised to $22.00

Patterson Companies (NASDAQ:PDCO) had its target price hoisted by Robert W. Baird from $19.00 to $22.00 in a research report report published on Friday, AnalystRatings.com reports. Robert W. Baird currently has a neutral rating on the stock.

PDCO has been the subject of a number of other reports. Wolfe Research set a $17.00 target price on Patterson Companies and gave the company a sell rating in a report on Friday, August 30th. Barclays cut their price target on shares of Patterson Companies from $20.00 to $16.00 and set an underweight rating on the stock in a research note on Friday, August 30th. Goldman Sachs Group set a $15.00 price target on shares of Patterson Companies and gave the stock a sell rating in a research report on Friday, August 30th. UBS Group lowered their price objective on shares of Patterson Companies from $23.00 to $16.00 and set a neutral rating for the company in a research note on Friday, September 6th. Finally, William Blair reissued a market perform rating on shares of Patterson Companies in a research note on Wednesday, December 4th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $19.00.

NASDAQ:PDCO opened at $23.51 on Friday. Patterson Companies has a 52 week low of $15.73 and a 52 week high of $25.25. The stock’s fifty day moving average is $18.52 and its two-hundred day moving average is $19.31. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 2.47 and a beta of 1.36. The company has a quick ratio of 0.85, a current ratio of 1.59 and a debt-to-equity ratio of 0.49.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.04. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Patterson Companies had a return on equity of 8.97% and a net margin of 1.01%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, sell-side analysts expect that Patterson Companies will post 1.4 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. grew its stake in Patterson Companies by 33.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 144,328 shares of the company’s stock worth $3,154,000 after purchasing an additional 36,096 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Patterson Companies by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 33,516 shares of the company’s stock valued at $768,000 after acquiring an additional 472 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Patterson Companies by 56.8% in the second quarter. Commonwealth Equity Services LLC now owns 44,409 shares of the company’s stock valued at $1,016,000 after acquiring an additional 16,090 shares during the period. Arizona State Retirement System boosted its holdings in shares of Patterson Companies by 1.3% in the second quarter. Arizona State Retirement System now owns 60,092 shares of the company’s stock valued at $1,376,000 after acquiring an additional 773 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Patterson Companies by 35.2% during the second quarter. SG Americas Securities LLC now owns 25,984 shares of the company’s stock worth $595,000 after acquiring an additional 6,761 shares during the last quarter. Hedge funds and other institutional investors own 93.73% of the company’s stock.

About Patterson Companies

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

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