StockNews.com Initiates Coverage on Patterson Companies (NASDAQ:PDCO)

Equities researchers at StockNews.com started coverage on shares of Patterson Companies (NASDAQ:PDCO) in a report released on Saturday. The firm set a “hold” rating on the stock.

A number of other brokerages have also recently weighed in on PDCO. Morgan Stanley upped their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a report on Tuesday. Mizuho assumed coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price objective for the company. Piper Sandler dropped their target price on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Leerink Partners restated a “market perform” rating and set a $31.35 price target (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. dropped 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. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Patterson Companies has an average rating of “Hold” and a consensus price target of $26.57.

Patterson Companies Trading Down 0.2 %

NASDAQ:PDCO opened at $30.86 on Friday. Patterson Companies has a 12 month low of $19.45 and a 12 month high of $31.79. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $22.79 and a 200-day moving average price of $23.16. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 2.70 and a beta of 1.00.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share 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 for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that Patterson Companies will post 2.26 EPS for the current year.

Insider Buying and Selling at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the sale, the chief executive officer now owns 222,736 shares of the company’s stock, valued at approximately $5,140,746.88. The trade was 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

Several large investors have recently modified their holdings of the company. Miller Howard Investments Inc. NY boosted its position in Patterson Companies by 2.3% in the second quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock worth $471,000 after purchasing an additional 442 shares during the last quarter. KBC Group NV boosted its holdings in shares of Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after buying an additional 680 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Patterson Companies by 6.2% in the second quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock worth $341,000 after buying an additional 828 shares during the last quarter. LRI Investments LLC grew its position in Patterson Companies by 201.2% during the second 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. Finally, Bfsg LLC increased its holdings in Patterson Companies by 8.2% during the third quarter. Bfsg LLC now owns 12,250 shares of the company’s stock valued at $268,000 after buying an additional 925 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

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.