Patterson Companies (NASDAQ:PDCO) Price Target Cut to $26.00 by Analysts at JPMorgan Chase & Co.

Patterson Companies (NASDAQ:PDCO) had its target price cut by JPMorgan Chase & Co. from $29.00 to $26.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. Bank of America cut their price target on shares of Patterson Companies from $31.00 to $29.00 and set a buy rating on the stock in a report on Thursday. Robert W. Baird cut their price target on shares of Patterson Companies from $30.00 to $28.00 and set a neutral rating on the stock in a report on Thursday. Evercore ISI dropped their price objective on shares of Patterson Companies from $25.00 to $23.00 and set an in-line rating on the stock in a research note on Thursday. Morgan Stanley dropped their price objective on shares of Patterson Companies from $30.00 to $28.00 and set an equal weight rating on the stock in a research note on Thursday, June 20th. Finally, StockNews.com lowered shares of Patterson Companies from a buy rating to a hold rating in a research note on Saturday, June 1st. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Patterson Companies presently has a consensus rating of Hold and a consensus target price of $28.89.

Patterson Companies Trading Up 0.1 %

Shares of NASDAQ:PDCO opened at $22.49 on Thursday. Patterson Companies has a twelve month low of $21.56 and a twelve month high of $32.58. The firm has a market cap of $1.98 billion, a P/E ratio of 11.25, a P/E/G ratio of 2.13 and a beta of 1.06. The company has a 50 day moving average of $24.53 and a 200-day moving average of $25.45. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.08). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts anticipate that Patterson Companies will post 2.33 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Friday, July 19th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Friday, July 19th. Patterson Companies’s dividend payout ratio is 52.00%.

Insiders Place Their Bets

In other Patterson Companies news, CEO Donald Zurbay sold 7,216 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $24.99, for a total value of $180,327.84. Following the completion of the sale, the chief executive officer now directly owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Patterson Companies news, insider Les B. Korsh sold 2,842 shares of the business’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 value of $67,383.82. Following the completion of the sale, the insider now directly owns 103,765 shares of the company’s stock, valued at $2,460,268.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total transaction of $180,327.84. Following the sale, the chief executive officer now directly owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The disclosure for this sale can be found here. Insiders sold 17,149 shares of company stock valued at $415,851 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Patterson Companies

Several large investors have recently modified their holdings of the company. LRI Investments LLC boosted its holdings in Patterson Companies by 201.2% in the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after purchasing an additional 843 shares during the period. GAMMA Investing LLC bought a new stake in Patterson Companies in the 4th quarter valued at $32,000. Spire Wealth Management bought a new stake in Patterson Companies in the 1st quarter valued at $35,000. Mather Group LLC. boosted its holdings in Patterson Companies by 1,376.1% in the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after purchasing an additional 1,500 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Patterson Companies in the 2nd quarter valued at $41,000. 85.43% of the stock is owned by institutional investors.

Patterson Companies Company Profile

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.