Patterson Companies, Inc. (NASDAQ:PDCO) Receives $21.50 Consensus PT from Analysts

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been assigned an average rating of “Hold” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $21.31.

PDCO has been the topic of several analyst reports. Zacks Investment Research downgraded Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. ValuEngine upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Friday, March 1st. BidaskClub downgraded Patterson Companies from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Guggenheim initiated coverage on Patterson Companies in a report on Wednesday, April 17th. They set a “neutral” rating and a $23.00 price target on the stock.

Shares of PDCO stock opened at $23.14 on Tuesday. Patterson Companies has a 12 month low of $18.94 and a 12 month high of $26.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 1.80. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 2.74 and a beta of 1.27.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a $0.26 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.04 annualized dividend and a dividend yield of 4.49%. Patterson Companies’s payout ratio is 61.90%.

Several institutional investors have recently made changes to their positions in PDCO. Norges Bank acquired a new stake in shares of Patterson Companies in the fourth quarter worth $17,939,000. Dimensional Fund Advisors LP grew its stake in shares of Patterson Companies by 36.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,085,525 shares of the company’s stock worth $60,662,000 after acquiring an additional 822,221 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Patterson Companies by 1,913.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 649,645 shares of the company’s stock worth $33,000 after acquiring an additional 617,386 shares during the last quarter. BlackRock Inc. grew its stake in shares of Patterson Companies by 4.9% in the fourth quarter. BlackRock Inc. now owns 9,795,267 shares of the company’s stock worth $192,575,000 after acquiring an additional 453,803 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Patterson Companies by 57.1% in the first quarter. Neuberger Berman Group LLC now owns 1,101,838 shares of the company’s stock worth $24,071,000 after acquiring an additional 400,439 shares during the last quarter. Institutional investors and hedge funds own 93.65% 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.

Further Reading: What are the benefits of a balanced fund?

Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

Receive News & Ratings for Patterson Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Companies and related companies with MarketBeat.com's FREE daily email newsletter.