Patterson Companies (NASDAQ:PDCO) Price Target Lowered to $24.00 at Stifel Nicolaus

Patterson Companies (NASDAQ:PDCO) had its price objective cut by Stifel Nicolaus from $25.00 to $24.00 in a report released on Thursday,Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts also recently weighed in on PDCO. Robert W. Baird decreased their price objective on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Evercore ISI decreased their price target on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, October 8th. Bank of America lowered their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. JPMorgan Chase & Co. reduced their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, UBS Group lowered their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.10.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $22.92 on Thursday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.60 and a beta of 1.00. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $21.02 and its 200-day moving average price is $22.79. Patterson Companies has a 12 month low of $19.45 and a 12 month high of $30.68.

Patterson Companies (NASDAQ:PDCO) last posted its 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). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts forecast that Patterson Companies will post 2.32 EPS for the current year.

Patterson Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is 60.82%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in Patterson Companies in the third quarter worth $65,000. Sanctuary Advisors LLC raised its holdings in shares of Patterson Companies by 54.1% during the third quarter. Sanctuary Advisors LLC now owns 25,670 shares of the company’s stock valued at $525,000 after purchasing an additional 9,015 shares during the period. Barclays PLC boosted its position in shares of Patterson Companies by 37.2% during the 3rd quarter. Barclays PLC now owns 165,715 shares of the company’s stock worth $3,619,000 after purchasing an additional 44,906 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Patterson Companies by 6.2% in the 3rd quarter. Stifel Financial Corp now owns 30,825 shares of the company’s stock valued at $673,000 after buying an additional 1,789 shares during the period. Finally, Petrus Trust Company LTA grew its stake in shares of Patterson Companies by 186.9% in the 3rd quarter. Petrus Trust Company LTA now owns 30,241 shares of the company’s stock valued at $660,000 after buying an additional 19,701 shares during the period. Institutional investors and hedge funds 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.