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

Robert W. Baird set a $35.00 price target on Patterson Companies (NASDAQ:PDCOGet Rating) in a research note published on Monday morning, Stock Target Advisor reports.

A number of other brokerages have also recently issued reports on PDCO. StockNews.com assumed coverage on shares of Patterson Companies in a research note on Thursday, March 31st. They issued a buy rating for the company. Morgan Stanley upped their target price on shares of Patterson Companies from $32.00 to $36.00 and gave the stock an equal weight rating in a report on Thursday, April 14th.

Shares of PDCO stock opened at $28.27 on Monday. Patterson Companies has a 52-week low of $26.51 and a 52-week high of $35.29. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 1.26 and a beta of 1.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.58. The firm has a fifty day moving average of $31.08 and a 200-day moving average of $30.35.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 5th. Stockholders of record on Friday, July 22nd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, July 21st. Patterson Companies’s payout ratio is 60.47%.

In other news, insider Les B. Korsh sold 6,000 shares of the company’s stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $34.96, for a total value of $209,760.00. Following the sale, the insider now owns 77,486 shares of the company’s stock, valued at approximately $2,708,910.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of PDCO. Man Group plc grew its holdings in Patterson Companies by 17.2% during the 3rd quarter. Man Group plc now owns 49,075 shares of the company’s stock worth $1,480,000 after acquiring an additional 7,194 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in Patterson Companies by 805.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 218,626 shares of the company’s stock worth $6,589,000 after acquiring an additional 194,483 shares during the last quarter. Two Sigma Investments LP bought a new stake in Patterson Companies during the 3rd quarter worth about $23,960,000. Cetera Advisors LLC bought a new stake in Patterson Companies during the 3rd quarter worth about $201,000. Finally, Captrust Financial Advisors grew its holdings in Patterson Companies by 315.8% during the 3rd quarter. Captrust Financial Advisors now owns 3,472 shares of the company’s stock worth $105,000 after acquiring an additional 2,637 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

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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