Patterson Companies (NASDAQ:PDCO) Price Target Lowered to $25.00 at Evercore ISI

Patterson Companies (NASDAQ:PDCOGet Free Report) had its price target lowered by equities researchers at Evercore ISI from $27.00 to $25.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 5.98% from the stock’s previous close.

A number of other research analysts also recently issued reports on PDCO. StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. Morgan Stanley reduced their price target on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, June 20th. Bank of America lowered their price objective on shares of Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Patterson Companies from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.00.

Read Our Latest Stock Report on PDCO

Patterson Companies Stock Down 0.9 %

Shares of PDCO stock traded down $0.22 on Tuesday, hitting $23.59. The stock had a trading volume of 119,617 shares, compared to its average volume of 1,014,058. Patterson Companies has a 12-month low of $22.29 and a 12-month high of $34.53. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.23 and a beta of 1.06. The business has a 50 day moving average of $24.52 and a 200 day moving average of $26.74. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.75.

Patterson Companies (NASDAQ:PDCOGet Free Report) last posted its earnings results on Tuesday, June 18th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. Patterson Companies’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. As a group, analysts expect that Patterson Companies will post 2.37 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kevin Michael Barry sold 1,216 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.72, for a total value of $28,843.52. Following the completion of the transaction, the chief financial officer now directly owns 41,605 shares of the company’s stock, valued at $986,870.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kevin Michael Barry sold 1,216 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.72, for a total value of $28,843.52. Following the sale, the chief financial officer now directly owns 41,605 shares of the company’s stock, valued at $986,870.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Donald Zurbay sold 5,875 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $139,296.25. Following the completion of the transaction, the chief executive officer now owns 237,288 shares of the company’s stock, valued at $5,626,098.48. The disclosure for this sale can be found here. Insiders have sold a total of 9,933 shares of company stock worth $235,524 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Patterson Companies during the fourth quarter valued at $26,162,000. Vanguard Group Inc. boosted its position in shares of Patterson Companies by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock valued at $277,003,000 after acquiring an additional 730,819 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Patterson Companies by 25.3% during the fourth quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock worth $73,852,000 after purchasing an additional 523,226 shares in the last quarter. Private Management Group Inc. purchased a new position in shares of Patterson Companies during the first quarter worth about $10,741,000. Finally, Westwood Holdings Group Inc. raised its stake in Patterson Companies by 17.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,287,553 shares of the company’s stock valued at $65,081,000 after purchasing an additional 332,593 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Company Profile

(Get Free Report)

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.

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