BidaskClub upgraded shares of Patterson Companies (NASDAQ:PDCO) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

A number of other equities research analysts have also issued reports on PDCO. Zacks Investment Research upgraded shares of Patterson Companies from a strong sell rating to a hold rating in a research note on Monday, June 25th. Morgan Stanley upped their target price on shares of Patterson Companies from $20.00 to $21.00 and gave the company an underweight rating in a research note on Friday, June 22nd. Stifel Nicolaus cut their target price on shares of Patterson Companies from $28.00 to $23.00 and set a hold rating on the stock in a research note on Monday, June 18th. Leerink Swann began coverage on shares of Patterson Companies in a research note on Friday, August 10th. They issued a market perform rating and a $25.00 target price on the stock. Finally, Northcoast Research restated a buy rating on shares of Patterson Companies in a research note on Wednesday, May 16th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $28.50.

Shares of Patterson Companies stock opened at $23.41 on Wednesday. The stock has a market capitalization of $2.25 billion, a PE ratio of 14.12, a P/E/G ratio of 1.66 and a beta of 1.10. The company has a current ratio of 1.95, a quick ratio of 1.09 and a debt-to-equity ratio of 0.63. Patterson Companies has a 1 year low of $20.57 and a 1 year high of $40.90.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, June 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.43 billion. Patterson Companies had a net margin of 3.68% and a return on equity of 11.05%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 EPS. sell-side analysts forecast that Patterson Companies will post 1.73 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 27th. Investors of record on Friday, July 13th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, July 12th. This represents a $1.04 annualized dividend and a yield of 4.44%. Patterson Companies’s dividend payout ratio (DPR) is 61.90%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D raised its stake in Patterson Companies by 4.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 520,000 shares of the company’s stock worth $11,788,000 after acquiring an additional 20,000 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Patterson Companies in the second quarter valued at approximately $408,000. Quantbot Technologies LP increased its stake in shares of Patterson Companies by 309.6% in the first quarter. Quantbot Technologies LP now owns 104,665 shares of the company’s stock valued at $2,326,000 after purchasing an additional 79,114 shares during the period. Advisory Services Network LLC increased its stake in shares of Patterson Companies by 44.2% in the second quarter. Advisory Services Network LLC now owns 12,299 shares of the company’s stock valued at $288,000 after purchasing an additional 3,770 shares during the period. Finally, Confluence Investment Management LLC increased its stake in shares of Patterson Companies by 2.9% in the second quarter. Confluence Investment Management LLC now owns 496,017 shares of the company’s stock valued at $11,245,000 after purchasing an additional 14,079 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Patterson Companies Company Profile

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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Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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