Patterson Companies (NASDAQ:PDCO) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Patterson Companies (NASDAQ:PDCO) in a research note released on Monday morning. The brokerage issued a hold rating on the stock.

Other research analysts also recently issued research reports about the company. Leerink Partnrs downgraded Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Leerink Partners reiterated a “market perform” rating and issued a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a research report on Wednesday, December 11th. Robert W. Baird raised their target price on shares of Patterson Companies from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Morgan Stanley upped their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler cut their price target on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Stock Performance

Shares of NASDAQ PDCO opened at $30.90 on Monday. The stock’s 50-day moving average is $24.73 and its 200 day moving average is $23.66. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.70 and a beta of 0.89. Patterson Companies has a 1-year low of $19.45 and a 1-year 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.

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

Insider Buying and Selling at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Patterson Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of PDCO. Anchor Investment Management LLC boosted its position in shares of Patterson Companies by 20.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock worth $51,000 after purchasing an additional 400 shares in the last quarter. KBC Group NV boosted its holdings in 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 acquiring an additional 680 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Patterson Companies by 103.0% in the fourth quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after acquiring an additional 680 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Patterson Companies by 6.2% during the second quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock valued at $341,000 after acquiring an additional 828 shares in the last quarter. Finally, Bfsg LLC raised its position in shares of Patterson Companies by 8.2% in the 3rd quarter. Bfsg LLC now owns 12,250 shares of the company’s stock worth $268,000 after purchasing an additional 925 shares during the last quarter. Hedge funds and other 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.