Brokerages Set Patterson Companies, Inc. (NASDAQ:PDCO) Price Target at $26.57

Patterson Companies, Inc. (NASDAQ:PDCO) has earned an average rating of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $26.57.

Several research firms have recently weighed in on PDCO. JPMorgan Chase & Co. decreased their price target on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. StockNews.com initiated coverage on Patterson Companies in a report on Saturday. They set a “hold” rating on the stock. Stifel Nicolaus dropped their price target on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. Robert W. Baird lifted their price objective on Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Finally, Leerink Partnrs cut Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th.

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the transaction, the chief executive officer now owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Patterson Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PDCO. LRI Investments LLC raised its holdings in shares of 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 buying an additional 843 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Patterson Companies during the second quarter worth about $41,000. Family Firm Inc. acquired a new stake in shares of Patterson Companies during the second quarter worth about $45,000. Meeder Asset Management Inc. purchased a new position in shares of Patterson Companies in the second quarter valued at approximately $45,000. Finally, International Assets Investment Management LLC grew its holdings in shares of Patterson Companies by 2,084.0% in the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after purchasing an additional 2,084 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Price Performance

Shares of Patterson Companies stock opened at $30.90 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76. The business has a 50 day simple moving average of $22.99 and a two-hundred day simple moving average of $23.20. The stock has a market capitalization of $2.73 billion, a P/E ratio of 18.07, a PEG ratio of 2.70 and a beta of 1.00. Patterson Companies has a 12 month low of $19.45 and a 12 month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts predict that Patterson Companies will post 2.26 EPS for the current fiscal year.

About Patterson Companies

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.