Patterson Companies (NASDAQ:PDCO) Given a $35.00 Price Target at Robert W. Baird

Robert W. Baird set a $35.00 price objective on Patterson Companies (NASDAQ:PDCOGet Rating) in a research note issued to investors on Monday, Stock Target Advisor reports.

Other research analysts also recently issued reports about the stock. Morgan Stanley lifted their target price on shares of Patterson Companies from $32.00 to $36.00 and gave the stock an equal weight rating in a research report on Thursday, April 14th. StockNews.com started coverage on shares of Patterson Companies in a research report on Thursday, March 31st. They set a buy rating on the stock.

Patterson Companies stock opened at $28.27 on Monday. The firm’s 50 day simple moving average is $31.08 and its 200-day simple moving average is $30.35. The company has a market cap of $2.76 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 0.81. Patterson Companies has a fifty-two week low of $26.51 and a fifty-two week high of $35.29.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Friday, July 22nd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Thursday, July 21st. Patterson Companies’s payout ratio is presently 60.47%.

In related news, insider Les B. Korsh sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $34.96, for a total transaction of $209,760.00. Following the transaction, the insider now directly owns 77,486 shares of the company’s stock, valued at $2,708,910.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Several institutional investors have recently modified their holdings of PDCO. Allspring Global Investments Holdings LLC acquired a new stake in shares of Patterson Companies in the fourth quarter worth $51,963,000. Brown Advisory Inc. acquired a new position in Patterson Companies during the 1st quarter valued at $37,708,000. Millennium Management LLC raised its stake in Patterson Companies by 607.3% during the 4th quarter. Millennium Management LLC now owns 1,037,520 shares of the company’s stock valued at $30,451,000 after purchasing an additional 890,824 shares during the last quarter. Two Sigma Investments LP acquired a new position in Patterson Companies during the 3rd quarter valued at $23,960,000. Finally, American Century Companies Inc. raised its stake in Patterson Companies by 29.2% during the 4th quarter. American Century Companies Inc. now owns 2,814,636 shares of the company’s stock valued at $82,610,000 after purchasing an additional 635,782 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

About Patterson Companies (Get Rating)

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It 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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